By 2050, gasoline and diesel fuels will still have a major role to play, but their biofuel proportion will be significant, the WEC report says.
Biofuels, including biomass-to-liquid (BTL) and cellulosic ethanol, can reduce fossil fuel and petroleum consumption, as well as greenhouse gas (GHG) emissions by up to 90%, claims the WEC.
"Their benefit in existing vehicles is immediate and not limited by new infrastructure requirements. These alternative fuels can contribute in all transport sectors which consume liquid fuels," says the study.
Biofuels and hydrogen fuels are expected to grow strongly over the coming decade and gain a market foothold by 2035, according to the WEC report.
Aviation can benefit particularly well from alternative fuels, which could also contribute to the passenger vehicle sector in general "given that the challenges of fuel cell cost, hydrogen storage, production and delivery can be overcome," the report says.
If the most efficient solutions are to prevail, it is important that alternative fuels are selected "according to market forces and viable, consistently applied GHG intensity and sustainability standards, without discrimination", it adds.
The WEC measures sustainability in terms of accessibility, availability and acceptability criteria, differentiating between the relative importance of different regions.
The report concludes by saying that an integrated approach, rather than concentrating solely on technologies, is the most efficient way to make energy use more sustainable. Such an approach should incorporate all the relevant stakeholders - namely business, consumers and governments - in the chain of energy production and the application of energy saving measures and technologies, the WEC says.
"It must be ensured that for all stakeholders, a productive market is in place which financially rewards behaviour leading to higher efficiency," the report adds.