The Gasoline Stations Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions - Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Gasoline Stations Global Market Report 2024, The gasoline stations market size has grown strongly in recent years. It will grow from $2566.61 billion in 2023 to $2722.31 billion in 2024 at a compound annual growth rate (CAGR) of 6.1%. The growth in the historic period can be attributed to automobile ownership trends, urbanization and infrastructure development, vehicle fuel efficiency, oil prices and supply, consumer behavior and travel patterns.
The gasoline stations market size is expected to see strong growth in the next few years. It will grow to $3347.09 billion in 2028 at a compound annual growth rate (CAGR) of 5.3%. The growth in the forecast period can be attributed to transition to electric vehicles, expansion of alternative fuels, hybrid and plug-in hybrid vehicles, changing commuting patterns, partnerships with energy companies. Major trends in the forecast period include smart infrastructure and digital transactions, transition to electric vehicle charging infrastructure, diversification of services, integration of technology for efficiency, contactless payments and digital transactions.
The increasing demand for vehicle fuel is expected to propel the growth of the gasoline station market going forward. Vehicle fuel includes gasoline and any other inflammable or combustible gas, or liquid used to fuel motor vehicles' combustion. The increase in vehicle production and sales leads to an increasing demand for vehicle fuel sold through gasoline stations thereby, the demand for vehicle fuel is directly proportional to the growth of the gasoline station market. For instance, in January 2023, according to the Energy Information Administration (EIA), a US government agency, the annual average gasoline consumption in the US increased by 0.3 million barrels per day (b/d) in 2022. Furthermore, in September 2022, according to Statistics Canada, a Canadian government body, net sales of road motor vehicle fuel were 36,894,411 liters in 2020, rising to 38,457,491 liters in 2021. Therefore, demand for vehicle fuel drives the growth of the gasoline station market.
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The gasoline stations market covered in this report is segmented –
1) By Type: Gasoline (Petrol), Diesel, CNG Or Other Gases, Non-Fuel Sales (Vehicle Parts Or Accessories And Groceries)
2) By Gasoline Grade: Regular, Midgrade, Premium
3) By Service Type: Self-Service, Full-Service
4) By End-User: Road Transport Vehicles, Air Transport Vehicles, Water Transport Vehicles
Major companies operating in the gasoline station market are adopting a strategic partnership approach to enhance their service offerings and expand their reach. Strategic partnerships involve collaborative alliances between entities aiming to achieve mutual growth, leveraging each other's strengths and resources for shared success. For instance, in June 2023, Worldline, a Europe-based payments and transactional services company, partnered with Scheidt & Bachmann (S&B), a US-based mobility solution provider. Through this partnership, the objective is to implement an innovative payment solution for fuel stations throughout Europe. This new product aims to offer drivers a smoother payment experience, enabling them to conveniently pay at various points such as the pump, carwash, and in-store. The solution, developed by Worldline and S&B, brings advantages for leading energy providers by expanding accepted payment methods, accessing new customer bases, and generating sales channels effortlessly.
The gasoline stations market report table of contents includes:
- Executive Summary
- Gasoline Stations Market Characteristics
- Gasoline Stations Market Trends And Strategies
- Gasoline Stations Market - Macro Economic Scenario
- Global Gasoline Stations Market Size and Growth
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- Global Gasoline Stations Market Competitive Benchmarking
- Global Gasoline Stations Market Competitive Dashboard
- Key Mergers And Acquisitions In Gasoline Stations Market
- Gasoline Stations Market Future Outlook and Potential Analysis
- Appendix
Top Major Players :
- The PJSC Lukoil Oil Company
- PTT Public Company Limited
- Citgo Petroleum Corporation
- Sinopec
- China National Offshore Oil Corporation
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