Portable Power Station Market 2021 Global Industry Update, Regional Trends, Demand, Scope, Competition, Incremental Revenue, Global Report and Forthcoming
COVID-19 Analysis
The COVID-19 outbreak has turned the world upside down. It has impacted the worldwide economy and also cast its shadow on different industries, which also includes the biofuels market. This industry has been hit hard due to the sharp decline in the demand for fuel across the country, with residents following the federal, state, and local guidance to minimize travel and practice social distancing. Lockdown measures have resulted in a contraction in demand for transport fuels into which the biofuels are blended. Besides, low prices of oil mean biofuels are less competitive, thus will struggle to maintain the market share. The aviation industry is the hardest hit from the ongoing crisis, with most airlines needing government bailouts while others are facing bankruptcy. Thus investments in bio-jet programs may suffer. Biofuel producer margins have faced tremendous pressure for low oil prices, supply disruptions affecting feedstocks, and reduced demand. Low margins fo