India Biofuels Market Size & Outlook, 2023-2030
India biofuels market, 2018-2030 (US$M)
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India biofuels market highlights
- The India biofuels market generated a revenue of USD 2,643.1 million in 2023 and is expected to reach USD 6,037.9 million by 2030.
- The India market is expected to grow at a CAGR of 12.5% from 2024 to 2030.
- In terms of segment, gaseous biofuel was the largest revenue generating form in 2023.
- Liquid Biofuel is the most lucrative form segment registering the fastest growth during the forecast period.
Biofuels market data book summary
| Market revenue in 2023 | USD 2,643.1 million |
| Market revenue in 2030 | USD 6,037.9 million |
| Growth rate | 12.5% (CAGR from 2023 to 2030) |
| Largest segment | Gaseous biofuel |
| Fastest growing segment | Liquid Biofuel |
| Historical data | 2018 - 2022 |
| Base year | 2023 |
| Forecast period | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Solid Biofuel, Liquid Biofuel, Gaseous Biofuel |
| Key market players worldwide | Air Liquide SA, Archer-Daniels Midland Co, Bunge Global SA, Green Plains Inc, Petroleo Brasileiro SA Petrobras ADR, Chevron Corp, International Flavors & Fragrances Inc, Shell PLC, Wilmar International Ltd |
Other key industry trends
- In terms of revenue, India accounted for 2.7% of the global biofuels market in 2023.
- Country-wise, U.S. is expected to lead the global market in terms of revenue in 2030.
- In Asia Pacific, China biofuels market is projected to lead the regional market in terms of revenue in 2030.
- South Korea is the fastest growing regional market in Asia Pacific and is projected to reach USD 1,401.8 million by 2030.
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Biofuels Market Scope
Biofuels Market Companies
| Name | Profile | # Employees | HQ | Website |
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India biofuels market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to biofuels market will help companies and investors design strategic landscapes.
Gaseous biofuel was the largest segment with a revenue share of 48.04% in 2023. Horizon Databook has segmented the India biofuels market based on solid biofuel, liquid biofuel, gaseous biofuel covering the revenue growth of each sub-segment from 2018 to 2030.
A few of the original feedstock for biofuels available in India are Jatropha (for the second generation), rapeseed or canola (for the first generation), sorghum (for the second generation), sugarcane (for the first generation), and wheat (for the first generation).
The government of the country has mandated 10% ethanol blending in petrol, while biodiesel blending is not governed by strict mandates in India. However, such types of blending have been restricted to under 5% over the past few years owing to the lower production of ethanol and biodiesel in the country.
However, growing concerns about the poor adoption rate of biofuels in the transportation sector of the country have urged the Government of India to permit sugarcane juice and other sugar-based products that are considered unfit for human consumption to be used for ethanol production.
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Horizon Databook provides a detailed overview of country-level data and insights on the India biofuels market , including forecasts for subscribers. This country databook contains high-level insights into India biofuels market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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India biofuels market size, by form, 2018-2030 (US$M)
India Biofuels Market Outlook Share, 2023 & 2030 (US$M)
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