E-fuels Market

Saudi Arabian Oil Co. (Saudi Arabia), Audi AG (Germany) and Siemens Energy (Gemany) are leading players in E-fuels Market

The global e-fuels market is projected to reach USD 49.4 billion by 2030 from an estimated USD 6.2 billion in 2023, at a CAGR of 34.5% during the forecast period. The e-fuels business is expanding as attempts to minimise carbon emissions in the transportation sector increase. E-fuels made from renewable energy have the potential to be a carbon-neutral mobility option, particularly in areas where electrification is difficult, such as aircraft and heavy industry. They serve as a link between current infrastructure and greener energy sources, making them a viable option for meeting decarbonization targets.

Due to their strong supply network, a few global and regional players hold a strong foothold in the e-fuels market. Saudi Arabian Oil Co. (Saudi Arabia); Audi AG (Germany); Siemens Energy (Gemany); Chart Industries (US); Sunfire Gmbh (Germany); Mitsubishi Corporation (Japan); Repsol (Spain); and Norsk E-Fuel (Norway) are the market leaders in the global e-fuels market. These companies have adopted strategies such as partnerships, contracts, agreements, acquisitions, and expansions to increase their market share.

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Saudi Arabian Oil Co. started in 1933, as a concession agreement between Saudi Arabia and the Standard Oil Company of California (SOCAL). The company was named Aramco (the Arabian American Oil Company) in 1949. The company’s operating segments are upstream, downstream and corporate. The upstream segment operations are primarily based in Saudi Arabia and downstream segment is scaling globally. The upstream segment’s activities consist of exploring for, developing, and producing crude oil, condensate, natural gas and NGL. The downstream segment’s activities consist of refining and petrochemicals, base oils and lubricants, retail operations, distribution, supply and trading, and power generation.

The company has been operating in Saudi Arabia and globally and has been generating major revenues from North America. The products are majorly manufactured in-kingdom (Saudi Arabia). Aramco also conducts petrochemical manufacturing through affiliates located in the Kingdom, China, Japan, South Korea, Malaysia, the United States, and the Netherlands

Audi AG which has been a wholly owned subsidiary of Volkswagen AG since 2020. Audi AG is specialized in the design, production, and distribution of premium and luxury vehicles. Audi's history dates to the early 20th century when it was originally established as Auto Union. It became Audi AG in 1985, with its headquarters located in Ingolstadt, Germany. Audi is one of the "big three" German luxury car manufacturers, alongside BMW and Mercedes-Benz.

The company majorly operated through its car and motorcycle segment. Audi AG has its sales partners, the premium brand group in more than 100 markets around the world and is operated at 22 locations in 13 countries with its production partners. The company has 14,000 suppliers from 60 countries.

In 2018 Audi Ag stated, they have been collaborating with different partners to develop alternative gasoline. As of 2018, Audi’s e-gas was already in the market, and they had been planning to launch e-diesel pilot plant.  The Audi e-fuels offering also includes e-diesel. In Dresden, Sunfire, an Audi collaboration partner, ran a test facility for this from late 2014 to October 2016. Like Werlte, the energy was provided by green power, while water and CO2 were also used as inputs. Blue Crude, the final product, was converted into Audi e-diesel.

Siemens Energy is a firm that specialises in energy technologies. It designs, manufactures, sells, and installs multi-megawatt wind turbines, gas turbines, gas engines, steam turbines, and entire systems. Power generation, renewable energy, power transmission, power distribution, automation, smart grid, compression and expansion, and mechanical drives are among the products and services provided by the organisation. It also offers solutions for the production, conversion, and transportation of primary fuels, as well as oil and gas. The company operates through 2 segments- gas and power; and Siemens Gamesa Renewable Energy. The e fuel production and technology is provided under the segment Siemens Gamesa Renewable Energy. Siemens Energy have had partnered up with Porsche and other partners to establish a plant in Chile to produce e-fuels in 2020. In 2022, 130,000 liters of e-fuel was produced by 2022 and the capacity is then to be increased to about 55 million Liters of e-fuels a year by 2024, and around 550 million liters of e-fuels by 2026.

Siemens Energy runs integrated hydrogen power plants as well. Air separation, building complexes, ceramics, chemicals and pharmaceuticals, food and beverage, manufacturing, marine, metals, electricity, oil and gas, pulp and paper, sugar and textiles are among the industries served by the company. The headquarters of Siemens Energy are in Munich, Bavaria, Germany. The company operates in Europe, Middle East, Africa, Asia Pacific, North America, South America and Australia.

Related Reports:

E-fuels Market by Renewable Source (Solar, Winds), Fuel Type (E-Methane, E-Kerosene, E-methanol, E-Ammonia, E-Diesel E-Gasoline), State (Gas, Liquid), End Use Application (Transportation, Chemicals, Power Generation) & Region - Forecast to 2030

Contact:
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MarketsandMarkets™ INC.
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E-fuels Market Size,  Share & Growth Report
Report Code
EP 8847
RI Published ON
11/6/2023
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