Data collated by Persistence Market Research regarding ‘Off Road Fuels Market’ unveils a succinct analysis of the market size, regional spectrum and revenue forecast about the Off Road Fuels market. Furthermore, the report points out major challenges and latest growth plans embraced by key manufacturers that constitute the competitive spectrum of this business domain.
Off Road Fuels Market: Introduction
The off road fuels market is one of the most enticing fuel markets for the consumers to their vehicles. The off road fuels also known as dyed diesels are untaxed fuel primarily used for off road applications. The illegal use of off road fuels on on-road vehicles can led to heavy penalties and fines. The off road fuels are generally dyed in red color in order to differentiate it from highway fuel and on-road diesel.
Presently, it is a standard practice to use off road fuels by farmers to power harvester, tractors and plow in farmlands. The construction companies use off road fuels in off road fuel/ diesel equipment for example bulldozer, cranes, backhoes and bobcats. Off road fuels is likely to hold significant opportunities in some aviation fuels, marine vessels and country fair and carnival rides.
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Several new research is conducted to reduce the emission of toxic gases such as oxides of sulfur and nitrogen and carbon and implemented to enhance the performance of off road engine applications.
Off Road Fuels Market: Market Dynamics
Growing demand for Ultra Low Sulfur Diesel (ULSD) or Clear Diesel in farming and construction applications in one of the driving factor for off road fuel market. Several vehicles such as tractor trailers, pickups and etc. requires ultra low sulfur diesel where off road fuels market is expected to witness substantial growth over the forecast period. The Environment Protection Agency (EPA) mandated to reduce the sulfur content for off road fuels from 5,000 ppm to less than 500ppm. Such mandate is expected to burn off road fuel cleaner and pollute less. However, 10 times increase in water due to hydro treating at the refinery causes problems related to microbe growth, winter freeze ups, more smoke, poor mileage and others. With the new technology of encapsulation of water can eliminate the aforementioned problems extend the tank life. This is being practiced in North America at large scale which is attributed to the stringent regulations to control air pollution
Heating oil industry is expected to remain another driving factor for off road fuels as Low Sulfur Diesel fulfills all the parameters laid down by Environment Protection Agency. Thus, Environmental regulations and stringent norms of many countries are expected to drive off road fuel market during the forecast period.
Off Road Fuels market: segmentation
The off road fuels market can be segmented based on the dye:
- Red Dyed Off Road Fuels
- Blue Dyed Off Road Fuels
- Green Dyed Off Road Fuels
- Orange Dyed Off Road Fuels
- Yellow Dyed Off Road Fuels
- Others (Black, Pink)
The off road fuels market can be segmented based on the grade type:
- Ultra Low Sulfur Diesel (ULSD) (less than 15 ppm)
- Low Sulfur Diesel (LSD) (less than 500 ppm)
The off road fuels market can be segmented based on the application:
- Heating Oil
Off Road Fuels Market: Region wise outlook
Based on the geography, North America is expected to account for a major share in the forecast period. The commercial producers of renewable isobutanol for new product lines of off road fuels and marine application are likely to hold vital opportunities for the region over the forecast period. Europe followed by North America is anticipated to witness substantial growth in the use of dyed bio-diesel thus results to account for potential opportunities in off road fuel market during the forecast period
Owing to robust increase in urbanization in Asia Pacific, this region is also expected to hold a moderate share in the off road fuels market. Asia Pacific is one of the region to witness mega construction, thus application of off road fuel in construction equipment is anticipated to indicate rising possibilities for the off road fuels market in this region over the forecast period.
Off Road Fuels market: Examples of players
Some examples of renowned players in the off road fuels market are listed below:
- Petro Canada
- Chevron Corporation
- Marathon Petroleum Company LP
- Exxon Mobil Corporation
- Neste Oil
- Lehigh Fuels LLC
- Whiteley Fuel Oil Company
- Lion Oil Company
- Mauger & Co., Inc
The research report presents a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The research report provides analysis and information according to market segments such as geographies, application, and industry.
The report covers exhaust analysis on:
- Market Segments
- Market Dynamics
- Market Size
- Supply & Demand
- Current Trends/Issues/Challenges
- Competition & Companies involved
- Value Chain
Regional analysis includes:
- North America (U.S., Canada)
- Latin America (Mexico. Brazil)
- Western Europe (Germany, Italy, France, U.K, Spain)
- Eastern Europe (Poland, Russia)
- Asia Pacific (China, India, ASEAN, Australia & New Zealand)
- Middle East and Africa (GCC Countries, S. Africa, Northern Africa)
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
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- Detailed overview of parent market
- Changing market dynamics in the industry
- In-depth market segmentation
- Historical, current, and projected market size in terms of volume and value
- Recent industry trends and developments
- Competitive landscape
- Strategies of key players and products offered
- Potential and niche segments, geographical regions exhibiting promising growth
- A neutral perspective on market performance
- Must-have information for market players to sustain and enhance their market footprint