The latest market report published by Credence Research, Inc. “ Gas Oil Market , By Geography Growth, Future Prospectsand Competitive Analysis, 2016 – 2030, „the global gas oil market was valued at US $ 580.9 Bn in 2016, and is expected to each US $ 1050.8 Bn by 2030, expanding to a CAGR of 4.3% from 2016 to 2030.
Browse the full Gas Oil Market – Growth, Future Prospects andCompetitive Analysis, 2016 – 2030 report at http://www.credenceresearch.com/report/gas-oil-market
Market Insights
Globalgas oil market is projected to witness significant growth over the forecast period. Growing use of gas oil in commercial and domestic vehicles coupled with increasing array of gas oil applications in railways, international bunkersandmarine fuel is anticipated to drive the demand for gas over the forecast period. Further, Gas oil is also used in industries for various applications such as power generation or as a fuel in boilers, machinery and other applications. Growth in disposable income along with increasing number ofvehicleespecially in the Asia Pacific is expected to increase the demand for the gas oil during the forecast period. However, growing environmental concerns over the emission of greenhouse gases influencing government to impose regulatory guidelines for theusage gas in which is expected to restraintthe demand for gas oil. Moreover, the oil price in the pipeline is expected to restrain the global gas oil market during the forecast period (2016-2030).
By Geography, Asia Pacific was the most dominant region in 2015 and anticipated to continue its dominance over the forecast period. The segment is also projected to witnessfastestgrowth during the forecast period. Followed by it, Europe is the second largest market in the global gas oil market. Increasing consumption of gas oil in Germany, Franceand UK is anticipated to drive the demand for gas oil in the region over the forecast period (2016-2030).
Considering the competition, the global gas oil market is expecting a significant increase in investment. Further,markethas witnessed strategic mergers and collaborations among gas oil regional and global players. Search growth strategies are focused on increasing their market penetration in key consuming economies.
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