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Global Diesel Fuel Market Size, Share, Trends, Analysis: By Product: Petroleum Diesel, Synthetic Diesel, Biodiesel, Diethyl Ether, Hydrogenated Oils and Fats; By Application: Passenger Vehicles, Commercial Vehicles; By End Use: Marine Industry, Transportation Industry, Others; Regional Analysis; Competitive Landscape; 2024-2032
Global Diesel Fuel Market Size
The global diesel fuel market reached approximately USD 233.06 billion in 2023. The market is projected to grow at a CAGR of 3.9% between 2024 and 2032, reaching a value of around USD 330.09 billion by 2032.
Diesel Fuel Market Outlook
- Diesel-powered engines can offer an efficiency of around 40%.
- Diesel fuel offers better performance in mountainous terrain and under challenging atmospheric conditions compared to gasoline fuel.
- North American region is anticipated to witness robust growth in market due to presence of prominent market players.
Diesel Fuel Market Growth Rate
Diesel fuel refers to a complex mixture produced through the fractional distillation of crude oil. The different characteristics of the fuel include sulphur content and low-temperature operability properties, among others. Diesel fuel releases more energy on combustion as compared to gasoline.
The increased adoption of personal vehicles with diesel engines owing to the relatively inexpensive nature of the fuel as opposed to others is aiding the diesel fuel market expansion. Additionally, diesel produces significantly more torque as compared to petrol, allowing diesel engines to carry heavy loads, bolstering their utilisation for commercial applications. The expansion of the construction and e-commerce sector is providing lucrative growth opportunities to the market. The growing demand for retail, housing, and commercial spaces and the increasing popularity of online shopping owing to the various advantages offered are boosting the requirement for reliable modes of transportation, supporting the growth of the market.
Key Trends and Developments
Investments in infrastructure for the distribution of diesel fuel; diesel hybrid technologies; technological advancements in engine efficiency; and regulatory impacts and emission standards are the major trends impacting the diesel fuel market development
February 27th, 2024
The Ministry of Energy in Saudi Arabia announced the launch of clean diesel and Euro-5 compliant gasoline which signifies a significant step forward in the country's sustainability efforts.
February 8th, 2024
Bharat Petroleum Corporation Limited (BPCL) announced EPA-grade diesel which represents a strategic move to enhance India's energy sector.
October 26th, 2023
Indian Oil Corporation (IOC) announced the launch of India's first diesel and gasoline reference fuel which serves as standard benchmarks for testing and calibrating engines and fuel quality.
May 16th, 2023
Jio-bp announced a new diesel product which is designed to improve fuel efficiency in diesel-powered trucks and can save up to Rs 1.1 lakh per truck annually in India.
Investments in infrastructure for distribution of diesel fuel
Significant capital is invested in refineries that process crude oil into diesel fuel.
Increased focus on diesel hybrid technologies
These hybrids offer the long-range and high-torque advantages of diesel engines while reducing emissions and improving fuel efficiency.
Technological advancements in engine efficiency
Newer diesel engines are being designed to be more fuel-efficient and are capable of meeting stricter emission standards without sacrificing performance.
Regulatory impacts and emission standards
Regulations like the Euro 6 standards in Europe are accelerating the development and adoption of cleaner diesel technologies.
Diesel Fuel Market Trends
The Euro 6 standards, implemented across the European Union, represent stringent regulations aimed at reducing harmful emissions from vehicles, including those powered by diesel engines. Euro 6 standards significantly reduce the allowable limits for exhaust emissions of nitrogen oxides (NOx), particulates, and other pollutants from diesel engines. This has necessitated the development of advanced technologies to meet these stringent criteria without compromising engine performance or fuel efficiency.
Market players in diesel fuel market are setting new benchmarks in the energy sector. Bharat Petroleum Corporation Limited (BPCL) announced a significant advancement in India's energy sector by launching domestically produced EPA-grade diesel in February 2024. This new development is crucial as it marks a shift towards enhancing India's refining capabilities and reducing dependence on expensive imports for high-quality diesel.
Diesel Fuel Industry Segmentation
“The EMR’s report titled Diesel Fuel Market Report and Forecast 2024-2032” offers a detailed analysis of the market based on the following segments:
Market Breakup by Product
- Petroleum Diesel
- Synthetic Diesel
- Biodiesel
- Diethyl Ether
- Hydrogenated Oils and Fats
Market Breakup by Application
- Passenger Vehicles
- Commercial Vehicles
Market Breakup by End Use
- Marine Industry
- Transportation Industry
- Others
Market Breakup by Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
Diesel Fuel Market Share
Petroleum diesel demand is expected to increase due to its growing usage in commercial and industrial sectors
Petroleum diesel holds the highest share due to its widespread use in various commercial and industrial applications. It's the standard fuel used in large-capacity vehicles and equipment, derived from crude oil through fractional distillation. This type of diesel is preferred for its energy density and efficiency in powering heavy machinery, trucks, and buses.
Biodiesel emerges as the second most significant segment in the market. Biodiesel is made from renewable resources like vegetable oils and animal fats, offering an environmentally friendlier alternative to petroleum diesel. Biodiesel is particularly notable for its lower emissions profile and its role in reducing dependency on fossil fuels.
The transportation sector maintains its dominance in the market due to the increased implementation of diesel in long-haul transportation and heavy-duty applications
The transportation sector is expected to account for a significant diesel fuel market share over the forecast period. This growth can be attributed to the increasing preference for diesel fuel in freight and long-haul transportation owing to its range and energy density. The utilisation of diesel fuel by the transportation sector is also increasing due to the comparatively lower requirements for refuelling. The rise in an on-road fleet of buses, trucks, and cars is further bolstering the requirement for diesel fuel.
The marine sector is expected to grow significantly in the diesel fuel market due to rising usage of diesel in large vessels such as cargo ships, tankers, and large passenger ships. Diesel engines in these applications are valued for their reliability and efficiency over long voyages.
Leading Companies in Diesel Fuel Market
The market players are launching innovative diesel products which align with global standards to gain a competitive edge in the diesel fuel market
Chevron Corporation, headquartered in California, United States, specialises in motor and jet fuel, liquified natural gas, energy efficiency solutions, diesel fuel, renewable fuels, and additives and petrochemicals, among others.
Reliance Industries Limited, headquartered in Maharashtra, India, specialises in petroleum refining, hydrocarbon production and exploration, and telecommunication. As an organisation, Reliance has adopted the ethos of turning adversity into opportunity.
Marathon Petroleum Corporation, headquartered in Ohio, United States, is one of the leading petroleum transportation, refining, and marketing companies. Marathon is dedicated to providing high-quality products to its customers.
Shell Plc, is one of the largest energy companies in the world which operates in all areas of the oil and gas sector including exploration, production, refining, distribution, marketing, and petrochemicals.
Other market key players include Saudi Arabian Oil Co., Petrochina Company Limited, ExxonMobil Corporation, BP Plc, Valero Energy Corp., Neste Oyj, and PJSC Lukoil, among others.
Diesel Fuel Market Analysis by Region
North America leads the market due to rising investment by several government bodies
North America holds a significant share of the market owing to the increasing investments by the regional governments towards strengthening their military. The strong presence of various key market players including Chevron Corporation and Marathon Petroleum Corporation, among others, is further aiding the market growth in the region.
On the other hand, the Asia Pacific is anticipated to witness significant growth in the diesel fuel market over the forecast period owing to the rising requirements from agriculture, construction, mining, and manufacturing sectors in the region. The expansion of the transportation sector due to rapid population growth is also bolstering the diesel fuel market demand. The increased utilisation of diesel fuel can also be attributed to the ability of vehicles operating using diesel to cover long distances without requiring frequent refuelling.
Key Highlights of the Report
| REPORT FEATURES | DETAILS |
| Base Year | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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| Breakup by Product |
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| Breakup by Application |
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| Breakup by End Use |
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| Breakup by Region |
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| Market Dynamics |
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| Competitive Landscape |
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| Companies Covered |
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*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Market Snapshot
6.1 Global
6.2 Regional
7 Opportunities and Challenges in the Market
8 Global Diesel Fuel Market Analysis
8.1 Key Industry Highlights
8.2 Global Diesel Fuel Historical Market (2018-2023)
8.3 Global Diesel Fuel Market Forecast (2024-2032)
8.4 Global Diesel Fuel Market by Product
8.4.1 Petroleum Diesel
8.4.1.1 Historical Trend (2018-2023)
8.4.1.2 Forecast Trend (2024-2032)
8.4.2 Synthetic Diesel
8.4.2.1 Historical Trend (2018-2023)
8.4.2.2 Forecast Trend (2024-2032)
8.4.3 Biodiesel
8.4.3.1 Historical Trend (2018-2023)
8.4.3.2 Forecast Trend (2024-2032)
8.4.4 Diethyl Ether
8.4.4.1 Historical Trend (2018-2023)
8.4.4.2 Forecast Trend (2024-2032)
8.4.5 Hydrogenated Oils and Fats
8.4.5.1 Historical Trend (2018-2023)
8.4.5.2 Forecast Trend (2024-2032)
8.5 Global Diesel Fuel Market by Application
8.5.1 Passenger Vehicles
8.5.1.1 Historical Trend (2018-2023)
8.5.1.2 Forecast Trend (2024-2032)
8.5.2 Commercial Vehicles
8.5.2.1 Historical Trend (2018-2023)
8.5.2.2 Forecast Trend (2024-2032)
8.6 Global Diesel Fuel Market by End Use
8.6.1 Marine Industry
8.6.1.1 Historical Trend (2018-2023)
8.6.1.2 Forecast Trend (2024-2032)
8.6.2 Transportation Industry
8.6.2.1 Historical Trend (2018-2023)
8.6.2.2 Forecast Trend (2024-2032)
8.6.3 Others
8.7 Global Diesel Fuel Market by Region
8.7.1 North America
8.7.1.1 Historical Trend (2018-2023)
8.7.1.2 Forecast Trend (2024-2032)
8.7.2 Europe
8.7.2.1 Historical Trend (2018-2023)
8.7.2.2 Forecast Trend (2024-2032)
8.7.3 Asia Pacific
8.7.3.1 Historical Trend (2018-2023)
8.7.3.2 Forecast Trend (2024-2032)
8.7.4 Latin America
8.7.4.1 Historical Trend (2018-2023)
8.7.4.2 Forecast Trend (2024-2032)
8.7.5 Middle East and Africa
8.7.5.1 Historical Trend (2018-2023)
8.7.5.2 Forecast Trend (2024-2032)
9 North America Diesel Fuel Market Analysis
9.1 United States of America
9.1.1 Historical Trend (2018-2023)
9.1.2 Forecast Trend (2024-2032)
9.2 Canada
9.2.1 Historical Trend (2018-2023)
9.2.2 Forecast Trend (2024-2032)
10 Europe Diesel Fuel Market Analysis
10.1 United Kingdom
10.1.1 Historical Trend (2018-2023)
10.1.2 Forecast Trend (2024-2032)
10.2 Germany
10.2.1 Historical Trend (2018-2023)
10.2.2 Forecast Trend (2024-2032)
10.3 France
10.3.1 Historical Trend (2018-2023)
10.3.2 Forecast Trend (2024-2032)
10.4 Italy
10.4.1 Historical Trend (2018-2023)
10.4.2 Forecast Trend (2024-2032)
10.5 Others
11 Asia Pacific Diesel Fuel Market Analysis
11.1 China
11.1.1 Historical Trend (2018-2023)
11.1.2 Forecast Trend (2024-2032)
11.2 Japan
11.2.1 Historical Trend (2018-2023)
11.2.2 Forecast Trend (2024-2032)
11.3 India
11.3.1 Historical Trend (2018-2023)
11.3.2 Forecast Trend (2024-2032)
11.4 ASEAN
11.4.1 Historical Trend (2018-2023)
11.4.2 Forecast Trend (2024-2032)
11.5 Australia
11.5.1 Historical Trend (2018-2023)
11.5.2 Forecast Trend (2024-2032)
11.6 Others
12 Latin America Diesel Fuel Market Analysis
12.1 Brazil
12.1.1 Historical Trend (2018-2023)
12.1.2 Forecast Trend (2024-2032)
12.2 Argentina
12.2.1 Historical Trend (2018-2023)
12.2.2 Forecast Trend (2024-2032)
12.3 Mexico
12.3.1 Historical Trend (2018-2023)
12.3.2 Forecast Trend (2024-2032)
12.4 Others
13 Middle East and Africa Diesel Fuel Market Analysis
13.1 Saudi Arabia
13.1.1 Historical Trend (2018-2023)
13.1.2 Forecast Trend (2024-2032)
13.2 United Arab Emirates
13.2.1 Historical Trend (2018-2023)
13.2.2 Forecast Trend (2024-2032)
13.3 Nigeria
13.3.1 Historical Trend (2018-2023)
13.3.2 Forecast Trend (2024-2032)
13.4 South Africa
13.4.1 Historical Trend (2018-2023)
13.4.2 Forecast Trend (2024-2032)
13.5 Others
14 Market Dynamics
14.1 SWOT Analysis
14.1.1 Strengths
14.1.2 Weaknesses
14.1.3 Opportunities
14.1.4 Threats
14.2 Porter’s Five Forces Analysis
14.2.1 Supplier’s Power
14.2.2 Buyer’s Power
14.2.3 Threat of New Entrants
14.2.4 Degree of Rivalry
14.2.5 Threat of Substitutes
14.3 Key Indicators for Demand
14.4 Key Indicators for Price
15 Competitive Landscape
15.1 Market Structure
15.2 Company Profiles
15.2.1 Shell Plc
15.2.1.1 Company Overview
15.2.1.2 Product Portfolio
15.2.1.3 Demographic Reach and Achievements
15.2.1.4 Certifications
15.2.2 Saudi Arabian Oil Co.
15.2.2.1 Company Overview
15.2.2.2 Product Portfolio
15.2.2.3 Demographic Reach and Achievements
15.2.2.4 Certifications
15.2.3 Petrochina Company Limited
15.2.3.1 Company Overview
15.2.3.2 Product Portfolio
15.2.3.3 Demographic Reach and Achievements
15.2.3.4 Certifications
15.2.4 ExxonMobil Corporation
15.2.4.1 Company Overview
15.2.4.2 Product Portfolio
15.2.4.3 Demographic Reach and Achievements
15.2.4.4 Certifications
15.2.5 BP Plc
15.2.5.1 Company Overview
15.2.5.2 Product Portfolio
15.2.5.3 Demographic Reach and Achievements
15.2.5.4 Certifications
15.2.6 Chevron Corporation
15.2.6.1 Company Overview
15.2.6.2 Product Portfolio
15.2.6.3 Demographic Reach and Achievements
15.2.6.4 Certifications
15.2.7 Reliance Industries Limited
15.2.7.1 Company Overview
15.2.7.2 Product Portfolio
15.2.7.3 Demographic Reach and Achievements
15.2.7.4 Certifications
15.2.8 Marathon Petroleum Corporation
15.2.8.1 Company Overview
15.2.8.2 Product Portfolio
15.2.8.3 Demographic Reach and Achievements
15.2.8.4 Certifications
15.2.9 Valero Energy Corp.
15.2.9.1 Company Overview
15.2.9.2 Product Portfolio
15.2.9.3 Demographic Reach and Achievements
15.2.9.4 Certifications
15.2.10 Neste Oyj
15.2.10.1 Company Overview
15.2.10.2 Product Portfolio
15.2.10.3 Demographic Reach and Achievements
15.2.10.4 Certifications
15.2.11 PJSC Lukoil
15.2.11.1 Company Overview
15.2.11.2 Product Portfolio
15.2.11.3 Demographic Reach and Achievements
15.2.11.4 Certifications
15.2.12 Others
16 Key Trends and Developments in the Market
List of Key Figures and Tables
1. Global Diesel Fuel Market: Key Industry Highlights, 2018 and 2032
2. Global Diesel Fuel Historical Market: Breakup by Product (USD Billion), 2018-2023
3. Global Diesel Fuel Market Forecast: Breakup by Product (USD Billion), 2024-2032
4. Global Diesel Fuel Historical Market: Breakup by Application (USD Billion), 2018-2023
5. Global Diesel Fuel Market Forecast: Breakup by Application (USD Billion), 2024-2032
6. Global Diesel Fuel Historical Market: Breakup by End Use (USD Billion), 2018-2023
7. Global Diesel Fuel Market Forecast: Breakup by End Use (USD Billion), 2024-2032
8. Global Diesel Fuel Historical Market: Breakup by Region (USD Billion), 2018-2023
9. Global Diesel Fuel Market Forecast: Breakup by Region (USD Billion), 2024-2032
10. North America Diesel Fuel Historical Market: Breakup by Country (USD Billion), 2018-2023
11. North America Diesel Fuel Market Forecast: Breakup by Country (USD Billion), 2024-2032
12. Europe Diesel Fuel Historical Market: Breakup by Country (USD Billion), 2018-2023
13. Europe Diesel Fuel Market Forecast: Breakup by Country (USD Billion), 2024-2032
14. Asia Pacific Diesel Fuel Historical Market: Breakup by Country (USD Billion), 2018-2023
15. Asia Pacific Diesel Fuel Market Forecast: Breakup by Country (USD Billion), 2024-2032
16. Latin America Diesel Fuel Historical Market: Breakup by Country (USD Billion), 2018-2023
17. Latin America Diesel Fuel Market Forecast: Breakup by Country (USD Billion), 2024-2032
18. Middle East and Africa Diesel Fuel Historical Market: Breakup by Country (USD Billion), 2018-2023
19. Middle East and Africa Diesel Fuel Market Forecast: Breakup by Country (USD Billion), 2024-2032
20. Global Diesel Fuel Market Structure
Key Questions Answered in the Report
The market reached a value of approximately USD 233.06 billion in 2023.
The market is projected to grow at a CAGR of 3.9% between 2024 and 2032.
The market is estimated to witness a healthy growth in the forecast period of 2024-2032 to reach USD 330.09 billion by 2032.
The major market drivers include expansion of the construction and e-commerce sectors and increased adoption of personal vehicles with diesel engines owing to the relatively inexpensive nature of the fuel.
The key trends fuelling the growth of the market include rising investments towards the development of infrastructure for distribution of diesel fuel and growing preference for diesel fuel in freight and long-haul transportations.
The major regions in the market are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
The significant product types include petroleum diesel, synthetic diesel, biodiesel, diethyl ether, and hydrogenated oils and fats.
The major players in the market are Shell Plc, Saudi Arabian Oil Co., Petrochina Company Limited, ExxonMobil Corporation, BP Plc, Chevron Corporation, Reliance Industries Limited, Marathon Petroleum Corporation, Valero Energy Corp., Neste Oyj, and PJSC Lukoil, among others.
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