Greentech Lead India: The global biofuel consumption
market will experience a rapid growth in coming years and will
reach $256,568.3 million in 2016, an increase of 81.4 percent since 2011.
The market value was $141,418.9 million in 2011.
According to a new report by Reasearch and Markets, the global biofuel
consumption market grew by 7.3 percent in 2011 to reach a volume of 713.8
million barrels and it will grow to 1,266.7 million barrels by 2016,
representing an increase of 77.5percent since 2011.
Bioethanol accounts 78.4 percent of the market’s total volume to become the
largest segment of the global biofuel consumption market.
Americas is the largest consumer in the global biofuel consumption market,
accounting 74.2 percent of the biofuel consumption market value.
The European biofuel consumption market reported a
compound annual growth rate of 21.9 percent between 2007
and 2011 and had total revenue of $29,578.4 million in 2011. Market consumption
volumes increased with a CAGR of 21.7 percent between 2007 and 2011 to reach a
total of 126.4 million barrels in 2011.
The report forecasts that the performance of the European
market will be decelerate, a CAGR of 13.8 percent is expected for the
five-year period 2011 – 2016, which will drive the market to a value of
$56,374.7 million by the end of 2016.
In Canada, biofuel consumption market clocked revenue of
$185.4 million in 2011, representing a CAGR of 25.7percent between 2007 and
2011.
Market consumption volumes increased with a CAGR of
16.1percent between 2007 and 2011, to reach a total of 14.3 million barrels in
2011. Like the European market, the performance of the Canadian market is also
forecast to decelerate, with an anticipated CAGR of 12.2 percent for the
five-year period 2011-16, which is expected to drive the market to a value of
$329.8 million by the end of 2016.