The global e-fuels market was worth $6.2bn in 2023 and is projected to grow at a CAGR of more than 32% in the period from 2024-2032, according to a new report.
The study from Global Market Insights (GMI) cited increasing environmental concerns, stringent regulations on carbon emissions, and advances in renewable energy technologies as driving growth over the next eight years.
Published this month (April 2024) with a base year of 2023, it points to the ‘significant potential’ that e-fuels have to address the limitation of battery electric vehicles (BEVs) and hydrogen fuel cells by offering a convenient and efficient energy storage solution.
The report covers e-fuel market trends, future forecasts and industry news, and singles out projects such as Infinium’s Project Roadrunner, which attracted a $75m investment from Bill Gates in December 2023, and the Series B funding raise for clean fuels start-up INERATEC in January 2024 as particularly prominent.
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