According to a new report by Intel Market Research, the global Hydrotreated Vegetable Oil (HVO) fuel market was valued at USD 2.12 billion in 2024 and is projected to reach USD 5.99 billion by 2032, expanding at a robust CAGR of 18.7% during the forecast period. The market growth is being fueled by increasing regulatory pressure to reduce greenhouse gas emissions, rising adoption of renewable diesel in transportation and industrial sectors, and growing investments in sustainable fuel infrastructure.
HVO fuel, also known as renewable diesel, is produced through the hydrogenation of vegetable o