A new report from Guidehouse Insights explores approaches to decarbonization in the transportation industry.
Biofuels have been helping to decarbonize the transportation sector for decades. According to Guidehouse Insights, more recently, however, electrification has drawn increased attention and interest as evidenced by a spike in EV sales.
“Decarbonization in the transportation industry stands at a crossroads while many factors are driving faster and deeper adoption of EVs, including government incentives, lower prices, and improved performance,” says Peter Marrin, senior research analyst with Guidehouse Insights. “At the same time, biofuels continue to evolve to include new drop-in products that will target applications beyond road transport to also include transoceanic shipping and aviation.”
Guidehouse Insights recommends policymakers offer clear net-zero signposts and incentives; biofuel producers create a roadmap for future opportunities; and automakers should look down the road to new opportunities. Battery makers are key to driving down EV prices, according to the report.
The report, EVs Are Offering Stiff Competition to the Biofuels Market, reviews how these market trends are forcing automakers, biofuels producers, and other industry stakeholders to readdress their approaches to decarbonizing transportation. It also provides detailed and actionable recommendations for industry participants to address this new phenomenon. An executive summary of the report is available for free download on the Guidehouse Insights website.
