As transport-based oil demands begin to decline from 2026 due to efficiency improvements and the uptake of alternative, environmentally friendly methods¹, the mobility market has opened up to an array of solutions.
The alternative fuel-powered vehicle market is expected to keep increasing its hold on the automotive industry, valued at $634.5bn in 2022 and projected to grow at an annual growth rate of 10% between 2022 and 2032².
After seeing an increase in production, supply and end-use in 2023, the idea of e-fuels, or electro fuels, in the industry is a understood to be a realistic option, and they can be traced back to as early as the 1920s.
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