The global diesel fuel market size was estimated at USD 241.41 billion in 2024 and is projected to reach USD 306.02 billion by 2030, growing at a CAGR of 4.1% from 2025 to 2030. This growth is primarily driven by the increasing utilization of diesel fuel across various industrial applications and the widespread availability of diesel manufacturing facilities around the world, which collectively support the rising demand for diesel over the forecast period.

The U.S. market is anticipated to witness significant growth in the coming years, fueled by several key factors. The country has a well-established transportation sector, including trucks, buses, and trains, that heavily rely on diesel fuel. The rapid expansion of e-commerce, the growing demand for goods transportation, and the prevalence of long-haul trucking are major contributors to diesel consumption in the transportation and logistics industry.

In addition to transportation, diesel fuel is widely used in construction and manufacturing to power heavy machinery, generators, and other essential equipment. The expansion of mining activities and the need for reliable power generation further contribute to increasing diesel demand, thereby supporting overall market growth in the coming years.

The United States benefits from a well-developed network of refineries capable of converting crude oil into various petroleum products, including diesel fuel. According to the U.S. Energy Information Administration, the three U.S. refineries collectively produced approximately 1.75 billion barrels (73.46 billion gallons) of ULSD. Meanwhile, the total consumption of ULSD in the United States across all applications was roughly 1.44 billion barrels (60.30 billion gallons), underscoring the significant domestic demand and production capacity for diesel fuel.

Key Market Trends & Insights:

• The Asia Pacific region dominated the global diesel fuel market, capturing the largest regional share of 30% in 2024. This leadership is driven by strong industrial growth, extensive transportation networks, and rising demand for diesel fuel across commercial and manufacturing sectors in countries within the region.

• The diesel fuel market in North America is projected to experience significant growth over the forecast period, supported by expanding transportation and logistics activities, growing e-commerce demand, and the widespread use of diesel in industrial and construction applications.

• By application, the commercial vehicles segment led the installation category, accounting for the largest revenue share of over 61.0% in 2024. This reflects the high reliance on diesel fuel for trucks, buses, and other commercial transport vehicles that are essential for goods movement and passenger transport.

• By end-user, the transportation industry dominated the type segment, holding the largest market share of over 44.50% in terms of revenue in 2024. The dominance of the transportation sector underscores the critical role of diesel fuel in powering logistics, freight, and passenger transport services, which continue to drive demand for this energy source globally.

Order a free sample PDF of the Diesel Fuel Market Intelligence Study, published by Grand View Research.

Market Size & Forecast:

• 2024 Market Size: USD 241.41 Billion

• 2030 Projected Market Size: USD 306.02 Billion

• CAGR (2025-2030): 4.1%

• Asia Pacific: Largest market in 2024 

Key Companies & Market Share Insights:

The global diesel fuel market is highly competitive, driven by the presence of major industry players across different regions. These companies operate in a relatively concentrated market, creating intense competition through strategies such as acquisitions, mergers, and collaborations. Such activities enable companies to expand their market presence, enhance technological capabilities, and offer differentiated products to meet evolving customer needs.

For example, in October 2024, Repsol launched Nexa, a new commercial brand for its premium diesel fuel derived from renewable sources. This 100% renewable diesel is scheduled to be available at Repsol service stations starting in 2024. Nexa is specifically designed to provide a cleaner alternative to conventional diesel, aiming to reduce carbon emissions while maintaining optimal engine performance. The fuel is produced using advanced technologies that convert sustainable raw materials into high-quality diesel, making it suitable for all diesel engines and reflecting the industry’s focus on sustainable and environmentally friendly solutions.

Key Players

• Chevron Corporation

• Exxon Mobil Corporation

• PetroChina Company Limited

• Qatar Petroleum

• Shell Plc.

• Conoco Phillips

• ExxonMobil

• Reliance Industries Limited

• Fredenberg

• JSC Mozyer Oil Refinery

Explore Horizon Databook – The world's most expansive market intelligence platform developed by Grand View Research.

Conclusion:

The diesel fuel market is expected to maintain steady growth driven by continued demand from transportation, industrial, and power generation sectors, supported by ongoing economic and infrastructure development. Diesel remains a key fuel for commercial and heavy duty applications due to its efficiency and energy density, even as environmental regulations and alternative energy adoption influence market dynamics. Regional variations in consumption patterns and refining capacity will shape future trends, but diesel’s role in supporting logistics, construction, and industrial activity continues to underpin its market importance.