Global Bio-fuel Market is forecasted to grow around $190 billion by 2022 at a CAGR of 2.7%.

The rising governmental concerns regarding Bio-fuel is a major driver for the global Bio-fuel market. And the rising support from the government is acting as a boom for the industry and helping the companies to reach the masses. Stringent government rules and regulations is considered as major challenge for the global bio-fuel market. The global bio-fuel market is expected to grow in the near future due to rising focus of key players on affordable, reliable and sustainable energy all over the world.

“The global bio-fuel market was estimated to grow around $168.18 billion and it is expected to grow around $190 billion during the forecast period of time.” notes OBRC analyst Honey Rajput. The last several years has brought a significant growth in bio-fuel market due to rising food, agricultural and energy market all over the world. And it has been observed that the demand for bio-diesel is increasing because it is non-toxic and biodegradable which helps in boosting the global Bio-fuel Market.

In developing and developed regions, the growing application base in emerging market for Bio-fuel is helpful in boosting the market in an effective manner. The rising governmental concerns regarding Bio-fuel is a major driver for the global Bio-fuel market. And the rising support from the government is acting as a boom for the industry and helping the companies to reach the masses. Stringent government rules and regulations is considered as major challenge for the global bio-fuel market. The global bio-fuel market is expected to grow in the near future due to rising focus of key players on affordable, reliable and sustainable energy all over the world.

Rising demand of bio-diesel helps in boosting the global bio-fuel market
Increasing demand of bio-diesel helps in fueling the growth of global bio-fuel market. The major reason behind this is it’s mainly used in the transportation industries that are also being used in off-grid electricity supply which majorly helps in propelling the growth of the global bio-fuels market. The other reason behind the rising demand of bio-diesel is the biodegradable and non-toxic characteristics that make it easy to transport. Also, growing environmental concerns and the shrinking fossil fuel resource is propelling the market.

Asia Pacific region is forecasted to be the fastest growing region for Bio-fuel Market
Asia Pacific region is considered as fastest growing region for bio-fuel due to emerging economies like India, China etc. Increasing focus of key players towards this region is due to rapid growth and rising population. India and China have become the leading country in bio-fuel market due to rising favorable government initiatives that leads to the growth of this market. China is mainly considered as world’s third largest producer of bio-fuels and it helps in escalating this market in near future. The global bio-fuel market has begun to rise gradually in the Asia Pacific region due to countries like India and China which are basically prime consumer of bio-energy products such as biogas and bio-ethanol that is going to experience a robust growth in the bio-fuel market

Stringent rules and regulation is a major factor which immensely affect the growth of the market
The major challenge for the global bio-fuel market is stringent rules and regulation that adversely affects the growth of the market. Harmonization of international sustainability norms, tariffs, subsidies and its impact on land use majorly affects the growth of the market in an adverse manner. The Energy Policy Act and similar kinds of acts majorly hinders the growth of the market.


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Keywords : Energy, Renewable Energy,

by Occams Business Research (few months ago!)

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