Technavio has announced its latest research report titled, “Global Diesel Bottled (Aftermarket) Fuel Additives Market 2019-2023.”
The diesel bottled (aftermarket) fuel additives market is expected to grow by USD $148.48 million during 2019-2023 according to the latest market research report by Technavio.
According to the Technavio report, a key factor driving the growth of the global diesel bottled fuel additives market size is the rising vehicle population leading to high consumption of diesel bottled fuel additives. The number of vehicles on the road is increasing significantly across the world owing to the rising demand for passenger cars from middle-class income group. The increasing sales of vehicles will directly impact the consumption of diesel bottled fuel additives as these additives are widely used with diesel fuels, the firm states. Thus, the increasing vehicle population will boost the diesel bottled fuel additives market growth during the forecast period.
As per Technavio, the rising demand for ultra-low-sulfur diesel will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other significant trends and market drivers that will influence market growth over 2019-2023.
The demand for ultra-low-sulfur diesel is increasing significantly, according to Technavio, as it decreases harmful emissions from diesel combustion. Moreover, the adoption of ultra-low-sulfur diesel also can reduce the emission of exhaust gases comprising particulate matter and ozone precursors to near-zero levels. Furthermore, the use of ultra-low-sulfur diesel helps in improving combustion efficiency and quick starting engine in cold weather conditions. Diesel bottled fuel additives are added to ultra-low-sulfur diesel to prevent undesirable engine wear and improve the performance of vehicles. Thus, the rising demand for ultra-low-sulfur diesel will fuel the growth of the diesel bottled fuel additives market value during the forecast period, according to the firm.
“Factors such as the growing fuel economy standards for passenger cars and light trucks, and new developments in fuel additives will have a significant impact on the diesel bottled fuel additives market growth during the forecast period,” says a senior analyst at Technavio.
To learn more about the global trends impacting the future of market research, download latest free sample report of 2020-2024: https://technavio.com/talk-to-us?report=IRTNTR31670.