Off Road Fuels Market: Introduction

  • Off road fuel, also known as dyed fuel, is an untaxed fuel that is majorly used for various off road applications. Use of off road fuels in on-road vehicles is illegal and may led to fines and heavy penalties. Off road fuels are normally dyed in red color to differentiate them from on-road diesel and highway fuel.
  • Off-road diesel fuel is utilized in vehicles and equipment that are not operated on public roads or highways. These include vehicles and equipment used on railways and farms, for electric power generation, and in the construction sector.

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Key Drivers of Off Road Fuels Market

  • Rising demand for clear diesel or ultra-low sulfur diesel in construction and farming applications is a major factor driving the global off road fuel market. Increasing demand for ultra-low sulfur diesel in vehicles, such as tractors and trailers, is another factor that is expected to boost the global off road fuels market significantly during the forecast period.
  • Moreover, adoption of off road fuels is increasing rapidly in heavy-duty equipment, trucks, cranes, and bulldozers. Increase in infrastructure development projects is another factor driving the global off road fuels market. Furthermore, demand for heavy-duty vehicles is increasing from different end-use verticals such as industrial, aerospace, mining, automobiles, and fishing/ships machinery.
  • Additionally, demand for off road fuels is rising in the agriculture industry across the globe. Off road fuel is majorly utilized in vehicles that are used in the agricultural industry, such as tractors, harvesting machines, combine harvesters, and mulching machines.
  • Moreover, off road fuels is also expected to be extensively used in marine vessels, as aviation fuel, and in machines at county fairs and carnival rides
  • Increasing investments in research to reduce the emission of various toxic gases such as oxides of carbon, nitrogen and sulfur, coupled with a surge in the demand for off road fuel in various end-use industries, including heating oil, trains, mining, and logging, is estimated to offer significant opportunity to manufacturers of off road fuel during the forecast period.

Rise in Demand for Off Road Fuel for Various Equipment in Construction Industry

  • Based on dye, the global off road fuels market can be divided into red dyed off road fuels, blue dyed off road fuels, green dyed off road fuels, orange dyed off road fuels, yellow dyed off road fuels, and others (black, pink)
  • Based on end-user, the global off road fuels market can be classified into heating oil, farming, construction, mining, and others (trains, logging, etc.). In terms of revenue, the construction segment expected to hold a significant share of the global market, owing to the rising demand for construction equipment and earth moving equipment from various development and new construction projects, especially in countries across Asia Pacific. Moreover, increasing mining activities, related to coal and iron ore, in emerging economies including China, India, and Indonesia is projected to drive the demand for off road fuel, which in turn expected to boost the global market during the forecast period           .

Asia Pacific to be a Key Market for Off Road Fuels

  • In terms of region, the global off road fuels market can be split into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
  • Asia Pacific is expected to account for a moderate share, in terms of revenue, of the global off road fuels market during the forecast period. This can be attributed to an increase in urbanization in countries in Asia Pacific. The region is expected to witness mega construction activates, which in turn is expected to increase applications of off road fuel in construction equipment. This is a major factor that is projected to drive the off road fuels market in countries in the region during the forecast period. Additionally, rapid expansion of agriculture and mining industries is also expected to drive the off road fuels market in Asia Pacific.

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Key Manufacturers Operating in Off Road Fuels Market

  • Key manufacturers are consistently focusing on the development of advanced off road fuels, with the objective to expand reach, enhance product offerings, and gain competitive edge in the market

Key manufacturers operating in the global market include:

  • Suncor Energy Inc.
  • Chevron Corporation
  • Marathon Petroleum Company LP
  • Exxon Mobil Corporation
  • Neste Oyj
  • Lehigh Fuels LLC
  • Whiteley Fuel Oil Company
  • Lion Oil Company
  • Mauger & Co., Inc

Global Off Road Fuels Market: Research Scope

Global Off Road Fuels Market, by Dye

  • Red Dyed Off Road Fuels
  • Blue Dyed Off Road Fuels
  • Green Dyed Off Road Fuels
  • Orange Dyed Off Road Fuels
  • Yellow Dyed Off Road Fuels
  • Others (Black, Pink, etc.)

Global Off Road Fuels Market, by End-User

  • Heating Oil
  • Farming
  • Construction
  • Mining
  • Others (Trains, Logging, etc.)

Global Off Road Fuels Market, by Region

  • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    • U.K.
    • France
    • Italy
    • Spain
    • Russia & CIS
    • Rest of Europe
  • Asia Pacific
    • China
    • India
    • Japan
    • ASEAN
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East & Africa
    • GCC
    • South Africa
    • Rest of Middle East & Africa 

This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.

Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:

  • Customer Experience Maps
  • Insights and Tools based on data-driven research
  • Actionable Results to meet all the business priorities
  • Strategic Frameworks to boost the growth journey

The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.

The following regional segments are covered comprehensively:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.

Below is a snapshot of these quadrants.

1. Customer Experience Map

The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.

2. Insights and Tools

The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.

3. Actionable Results

The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.

4. Strategic Frameworks

The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.

The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:

1. What can be the best investment choices for venturing into new product and service lines?

2. What value propositions should businesses aim at while making new research and development funding?

3. Which regulations will be most helpful for stakeholders to boost their supply chain network?

4. Which regions might see the demand maturing in certain segments in near future?

5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?

6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?

7. Which government regulations might challenge the status of key regional markets?

8. How will the emerging political and economic scenario affect opportunities in key growth areas?

9. What are some of the value-grab opportunities in various segments?

10. What will be the barrier to entry for new players in the market?

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.

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Off Road Fuels Market

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