Connect with us

Technology

Sustainable Aviation Fuel (SAF) Market size is set to grow by USD 5.29 billion from 2024-2028, Favorable government policies to boost the market growth, Technavio

Published

on

NEW YORK, June 27, 2024 /PRNewswire/ — The global sustainable aviation fuel (SAF) market  size is estimated to grow by USD 5.29 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of about 75.62%  during the forecast period.  Favorable government policies is driving market growth, with a trend towards research on third-generation biofuels. However, higher cost of production compared to conventional fuels  poses a challenge. Key market players include Aemetis Inc., Alder Energy LLC, Chevron Corp., Cummins Inc., Deutsche Lufthansa AG, Eni SpA, Fulcrum BioEnergy Inc., Gevo Inc., LanzaTech Global Inc., Neste Corp., OMV Aktiengesellschaft, Pan Oleo Energy Ltd., Preem Holdings AB, Sasol Ltd., Shell plc, SkyNRG BV, SYNHELION SA, TotalEnergies SE, Velocys Plc, and World Energy LLC.

Get a detailed analysis on regions, market segments, customer landscape, and companies – Click for the snapshot of this report

Forecast period

2024-2028

Base Year

2023

Historic Data

2018 – 2022

Segment Covered

Type (Biofuel, Hydrogen fuel, and Power to liquid fuel), Application (Commercial aviation, Business and general aviation, Military aviation, and Unmanned aerial aviation), and Geography (North America, APAC, Europe, Middle East and Africa, and South America)

Region Covered

North America, APAC, Europe, Middle East and Africa, and South America

Key companies profiled

Aemetis Inc., Alder Energy LLC, Chevron Corp., Cummins Inc., Deutsche Lufthansa AG, Eni SpA, Fulcrum BioEnergy Inc., Gevo Inc., LanzaTech Global Inc., Neste Corp., OMV Aktiengesellschaft, Pan Oleo Energy Ltd., Preem Holdings AB, Sasol Ltd., Shell plc, SkyNRG BV, SYNHELION SA, TotalEnergies SE, Velocys Plc, and World Energy LLC

 

Key Market Trends Fueling Growth

The Sustainable Aviation Fuel (SAF) market is experiencing significant growth with the advancement of biofuel technology. Second and third-generation biofuels, particularly SAF, are derived from non-food feedstocks such as wood, organic waste, and algae. Algae fuels offer numerous advantages, including high-quality diverse fuels like biodiesel, butanol, and jet fuel, and greater yield with up to ten times the fuel production per acre compared to traditional fuels. Micro-algae, with their high lipid content and ease of cultivation, are popular candidates for SAF production. This evolution in biofuel technology is diversifying feedstock options and enhancing fuel performance through advanced technology. 

The Sustainable Aviation Fuel (SAF) market is experiencing significant growth due to increasing demand for eco-friendly alternatives in the aviation industry. Components such as vegetable oils, animal fats, and waste cooking oil are commonly used to produce SAF. Technologies like hydroprocessing and fermentation are employed to convert these feedstocks into jet fuel. Companies are investing in research and development to improve the efficiency and sustainability of SAF production. The use of SAF reduces carbon emissions and contributes to the aviation industry’s efforts towards becoming more environmentally friendly. The adoption of SAF is a trend that is gaining momentum in the aviation sector, with many airlines and governments supporting its implementation. 

Research report provides comprehensive data on impact of trend. For more details- Download a Sample Report

Market Challenges

The sustainable aviation fuel (SAF) market faces challenges in terms of inefficient production technology and high feedstock costs. Advanced biofuel processing is complex, leading to higher operational costs for SAF compared to conventional fuels. Electric and hybrid vehicles, which are more economical and sustainable alternatives, may hinder SAF market growth due to their increasing demand and lower carbon emissions.The Sustainable Aviation Fuel (SAF) market faces several challenges in its implementation and adoption. One challenge is the high cost of SAF compared to traditional jet fuel. Another challenge is the limited supply of SAF, as it is currently produced from feedstocks like algae and waste vegetable oils. Additionally, the infrastructure for producing and distributing SAF is not yet widely available. Technological advancements and government incentives are necessary to make SAF production cost-effective and scalable. Furthermore, the aviation industry must work towards reducing its carbon footprint and meeting emission reduction targets, making SAF a crucial solution for sustainable aviation.

For more insights on driver and challenges – Download a Sample Report

Segment Overview 

This sustainable aviation fuel (saf) market report extensively covers market segmentation by

Type 1.1 Biofuel1.2 Hydrogen fuel1.3 Power to liquid fuelApplication 2.1 Commercial aviation2.2 Business and general aviation2.3 Military aviation2.4 Unmanned aerial aviationGeography 3.1 North America3.2 APAC3.3 Europe3.4 Middle East and Africa3.5 South America

1.1 Biofuel-  The Sustainable Aviation Fuel (SAF) market is experiencing significant growth due to increasing demand for eco-friendly alternatives in the aviation industry. Companies are investing in SAF production, driven by government incentives and customer preference. SAF reduces carbon emissions by up to 80% compared to traditional jet fuel. Major airlines have set ambitious targets to use SAF in a substantial percentage of their fuel mix by 2030. This trend is expected to continue, making SAF a promising business opportunity.

For more information on market segmentation with geographical analysis including forecast (2024-2028) and historic data (2018 – 2022)  – Download a Sample Report

Research Analysis

The Sustainable Aviation Fuel (SAF) market represents a significant advancement in the aviation industry’s efforts to reduce carbon emissions. SAF, also known as renewable jet fuel, is derived from various sources such as biofuels and hydrogen fuel cells. Its adoption in commercial and military aviation sectors is gaining momentum due to its economic viability and environmental benefits. SAF is a crucial component in the aviation industry’s strategy to decrease emissions from air transportation. The market’s growth is driven by the increasing demand for sustainable alternatives to traditional jet fuels and government initiatives to promote the use of cleaner fuels in the aviation sector. The aviation industry’s transition to SAF is essential to mitigate the sector’s significant carbon footprint and contribute to a more sustainable future for air travel.

Learn and explore more about Technavio’s in-depth research reports

Biofuels are renewable fuels derived from organic materials like plants and algae, offering a sustainable alternative to traditional fossil fuels. The global biofuels market is driven by increasing environmental concerns and the need for energy security. Key players in this market include ethanol and biodiesel producers, with significant growth anticipated due to government incentives and advancing technology. As the world seeks cleaner energy solutions, biofuels play a crucial role in reducing greenhouse gas emissions and diversifying energy sources.

Market Research Overview

The Sustainable Aviation Fuel (SAF) market refers to the production and use of alternative jet fuels derived from renewable sources, such as vegetable oils, agricultural waste, and algae. These fuels offer significant reductions in carbon emissions compared to traditional jet fuel, making them a crucial component in the aviation industry’s efforts to reduce its carbon footprint. The global SAF market is experiencing steady growth, driven by increasing government regulations, industry initiatives, and technological advancements. Various types of SAFs are under development, including hydroprocessed esters and fatty acids (HEFA), alcohol-to-jet (ATJ), and biomass-based jet fuel. The market is expected to continue expanding as the demand for more sustainable aviation solutions increases.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

TypeBiofuelHydrogen FuelPower To Liquid FuelApplicationCommercial AviationBusiness And General AviationMilitary AviationUnmanned Aerial AviationGeographyNorth AmericaAPACEuropeMiddle East And AfricaSouth America

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

View original content to download multimedia:https://www.prnewswire.com/news-releases/sustainable-aviation-fuel-saf-market-size-is-set-to-grow-by-usd-5-29-billion-from-2024-2028–favorable-government-policies-to-boost-the-market-growth-technavio-302183596.html

SOURCE Technavio

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Technology

LYKSTAGE Launches Patented Video Platform That Pays Creators and Viewers — Now Live Across Five Countries

Published

on

By

MUMBAI, India, April 20, 2026 /PRNewswire/ — LYKSTAGE, a video-sharing platform owned by LYK Inc., a Delaware-based entity, and founded by New York-based entrepreneur Adris Chakraborty, is redefining how the creator economy works — with a patented monetization model no other platform can legally replicate.

Built by a technology team in India under Manhattan Tech Ventures, LYKSTAGE runs on a patented Watch-Time Monetization Model that fundamentally changes who earns from video content. Creators earn whenever their content’s watch time gets monetized — no subscriber minimums, no waiting periods, and no thresholds to cross before earning begins.

What makes the model unprecedented is that viewers earn too. Logged-in viewers are rewarded whenever their watch time gets monetized — when they watch content uninterrupted and the ad served during viewing is fully consumed. When that happens, the creator earns, the viewer is rewarded, and the platform earns. Every reward is funded by actual ad revenue — not venture capital subsidies. The model is entirely self-sustaining.

The platform serves both skippable and non-skippable ads, determined by an ad server algorithm that optimizes based on viewing patterns and content traction. For advertisers, impressions are served intelligently — matching the right ad format to the right moment, delivering higher completion rates and genuine attention.

LYKSTAGE is now live across five markets — India, the United States, the United Kingdom, Canada, and the UAE — and available on Samsung TV, LG TV, Roku, Apple TV, Android TV, Amazon Fire TV, desktop, mobile web, and native apps on both the App Store and Google Play Store.

Adris Chakraborty, a Kolkata-born Columbia Business School alumnus based in the US since 2003, co-founded Mediamorphosis Advertising & Technology Inc. in New York in 2006 with his spouse and business partner Poulami Mukherjee. The company expanded to the UK in 2012, followed by Manhattan Communications in India — building a multicultural advertising group spanning five countries with over 100 clients, providing LYKSTAGE with built-in advertiser relationships and market intelligence.

The platform has crossed over one million users across all markets, with more than 20,000 creators on board and growing across all five countries — achieved with minimal paid marketing.

LYKSTAGE is a transparent, patented system where the people who create the value are the ones who earn from it.

Sign up at:
Android – https://play.google.com/store/apps/details?id=com.lykstage.app
Apple – https://apps.apple.com/in/app/lykstage-video-streaming/id6754064834

Logo: https://mma.prnewswire.com/media/2960187/LYKSTAGE_Logo.jpg

 

View original content to download multimedia:https://www.prnewswire.com/in/news-releases/lykstage-launches-patented-video-platform-that-pays-creators-and-viewers–now-live-across-five-countries-302746985.html

Continue Reading

Technology

Towngas and Tencent forge strategic partnership to drive “Energy + Tech” smart digital transformation

Published

on

By

HONG KONG, April 20, 2026 /PRNewswire/ — The Hong Kong and China Gas Company Limited (Towngas) and Tencent have signed a strategic partnership agreement in Hong Kong. The two companies will collaborate extensively on unified cloud resource management, digital platform development, large artificial intelligence (AI) models and applications, customer engagement enhancement, and R&D tool synergy. Together, they aim to drive the smart digital transformation of the energy sector.

The partnership dates back to 2020, when Towngas Lifestyle, the extended business division of Towngas, first teamed up with Tencent Cloud. In 2021, Towngas Energy, the Group’s renewable energy arm, worked with Tencent Cloud to build a smart energy ecosystem, which currently supports over a hundred integrated energy projects for the business segment. In 2023, Towngas Lifestyle and Tencent Cloud entered into a comprehensive strategic partnership spanning cloud platforms, big data, AI, and customer engagement, delivering one-stop lifestyle solutions to 46 million household customers across Hong Kong and the Chinese mainland. This latest agreement marks a comprehensive, group-level strategic partnership between Towngas and Tencent. It is designed to pool their resources, achieve cross-divisional synergy, drive quality and efficiency gains, and accelerate AI innovation.

Over the past six years, this collaboration has yielded remarkable results. Powered by Tencent Cloud, Towngas Lifestyle has upgraded the digital foundation and driven application innovation for its Towngas Lifestyle Cloud (TLC) platform. Furthermore, leveraging Tencent Cloud’s TBDS (Tencent Big Data Suite), it built the Towngas Analytics Platform (TAP), which currently supports big data applications for over 70 affiliated city-gas companies as well as its Hong Kong operations.

In terms of AI applications, Towngas Lifestyle has capitalised on Tencent’s AI computing power and large model technology to launch innovative tools such as smart safety inspections and AI service agents, significantly boosting the efficiency of frontline staff at gas companies. To better serve its customers, the company has deeply integrated Tencent’s WeCom to improve customer outreach. On the R&D front, Towngas Lifestyle has widely adopted Tencent’s AI development tools to streamline workflows. Moreover, the partners have successfully replicated their mainland successes in Hong Kong, completing the cross-border deployment of the TAP platform and advancing the upgrade of the city’s business systems.

Mr Peter Wong Wai-yee, Managing Director of Towngas, said: “Tencent’s leading position in AI and digital technology is obvious to all. Since 2020, the two parties have established a strong partnership, expanding from Towngas Lifestyle’s extended business to cooperation on the smart energy platform for the renewable energy segment, and gradually extending from the mainland to Hong Kong. As an enterprise with a 164-year history, Towngas has grown to possess a customer base of over 120 million since entering the mainland gas utility business in 1994. Facing such a massive number of customers, data security is of paramount importance. How to build a secure and efficient system for management and service has become a critical issue for business development. We are confident in joining hands with Tencent to co-build a secure and efficient digital system, comprehensively elevate the customer service experience and operational efficiency, and jointly pioneer more possibilities for ‘Energy + Tech’.”

Mr Dowson Tong, Senior Executive Vice President of Tencent and CEO of Tencent Cloud and Smart Industries Group, stated that as a household brand in Hong Kong, Towngas’s “customer-centric” service philosophy aligns closely with Tencent’s corporate mission of “Value for Users, Tech for Good”. Over the past six years, Tencent has engaged in deep collaboration with multiple segments under Towngas, empowering businesses with technology to achieve precise operations. Tencent looks forward to taking this exchange as a new starting point, further consolidating the “Cloud + AI” technological foundation based on existing cooperation, and deeply integrating Tencent’s digital capabilities with Towngas’s rich application scenarios. Through technological innovation, the goal is to achieve better customer service delivery and enhance operational efficiency, exploring a new path to sustainable development for the smart upgrade of the energy industry while ensuring data security and user privacy.

Looking ahead, the two companies will continue to deepen their collaboration in migrating core businesses to the cloud, co-building digital platforms, deploying large models and AI applications, and enhancing customer engagement. This will not only deliver a superior experience for gas customers but also set a benchmark for the high-quality transformational development of the energy industry.

 

View original content to download multimedia:https://www.prnewswire.com/apac/news-releases/towngas-and-tencent-forge-strategic-partnership-to-drive-energy–tech-smart-digital-transformation-302746992.html

SOURCE Tencent Cloud

Continue Reading

Technology

DMEGC Solar Achieves EcoVadis Gold Medal, Underscoring Its Commitment to ESG Excellence

Published

on

By

JINHUA, China, April 20, 2026 /PRNewswire/ — On April 15, DMEGC Solar, a global leader in magnetic materials and renewable energy solutions, achieved a milestone breakthrough in sustainable development. With outstanding performance in environmental protection, social responsibility, and other key areas, the company earned a Gold Medal from the internationally recognized rating agency EcoVadis, scoring 82 points. This places DMEGC Solar in the top 3% of all rated companies worldwide, surpassing 97% of participants.

EcoVadis is a globally leading sustainability assessment platform, having rated over 150,000 companies across more than 250 industries and 185 countries. Its evaluation framework covers 21 indicators across four core themes: Environment, Labor & Human Rights, Ethics, and Sustainable Procurement. The platform aims to assess the sustainability performance and social responsibility of companies within global supply chains.

DMEGC Solar participated in the assessment at the group level rather than as a single factory, demonstrating outstanding strength across all four dimensions. In the Labor & Human Rights dimension, the company has established a comprehensive employee rights protection system, strictly implemented occupational health and safety standards, and promoted employee development and career growth, ranking in the top 1% of its industry.

In the Sustainable Procurement dimension, the company has built a full-chain green supply chain management mechanism, collaborating with core suppliers to create a “cooperative carbon reduction” ecosystem. Initiatives such as packaging material recycling, green electricity usage, and localized collaborative production have enabled a low-carbon, traceable supply chain, also ranking in the top 1% of the industry.

Coupled with strong performances in environmental governance and business ethics, the company achieved an impressive score of 82, surpassing 97% of evaluated companies and earning the Gold Medal. This distinction places DMEGC Solar at the top in the global solar module manufacturers to receive such recognition.

This Gold Medal rating will for sure strengthen the company’s competitiveness in overseas markets. On one hand, its industry-leading ESG performance helps meet policy requirements related to sustainable supply chains, enhancing both the premium pricing of its products in international markets and its ability to secure orders. On the other hand, this recognition will boost customer and partner trust in the company’s brand, supporting the expansion of market share for its core products—such as photovoltaic modules, residential energy storage systems, and magnetic materials—while consolidating its market leadership.

Photo – https://mma.prnewswire.com/media/2960053/DMEGC_Solar_Achieves_EcoVadis_Gold_Medal__Underscoring_Its_Commitment_to_ESG_Excellence.jpg

View original content:https://www.prnewswire.co.uk/news-releases/dmegc-solar-achieves-ecovadis-gold-medal-underscoring-its-commitment-to-esg-excellence-302746991.html

Continue Reading

Trending