What Fueled The Previous Growth In The Gasoline Stations Market?
The gasoline stations market has seen considerable growth due to a variety of factors.
• The market size of gasoline stations has been consistently expanding over the past few years. It is projected to escalate from $2735.75 billion in 2024 to $2870.08 billion in 2025, with a compound annual growth rate (CAGR) of 4.9%.
The growth observed during the historic period can be credited to factors such as automobile ownership trends, urbanization, infrastructure development, fuel efficiency of vehicles, fluctuations in oil prices and supply, as well as changes in consumer behavior and travel habits.
How Does the Forecast Look for the Gasoline Stations Market?
The gasoline stations market is expected to maintain its strong growth trajectory in upcoming years.
• There is a robust growth anticipated in the gasoline stations market in the upcoming years, with its value projected to reach $3501.11 billion in 2029, displaying a compound annual growth rate (CAGR) of 5.1%.
The growth in this forecast period stems from factors such as the shift to electric cars, the rise of alternative fuels, hybrid and plug-in hybrid vehicles, evolution in commuting trends, and collaborations with energy companies. Noteworthy trends during this period that are anticipated to shape the market include advanced infrastructure and digital payment methods, the shift towards electric vehicle charging infrastructures, service diversification, technology integration for enhanced efficiency, and an increase in contactless payments and digital transactions.
What Are The Leading Drivers Of Growth In The Gasoline Stations Market?
The surge in vehicle fuel needs is anticipated to stimulate the expansion of the gasoline station market in the future. Vehicle fuel encompasses gasoline and any other inflammable or gaseous substances, or liquids utilized as fuel for vehicle combustion. The uptick in vehicle manufacturing and sales results in a rise in demand for vehicle fuel available at gasoline stations hence, the requirement for vehicle fuel is directly linked to the growth of the gasoline station market. As an example, in January 2023, based on data from the Energy Information Administration (EIA), a US government institution, there was a 0.3 million barrels per day (b/d) rise in the annual average gasoline consumption in the US in 2022. Thus, the need for vehicle fuel is a key factor driving the expansion of the gasoline station market.
How Are The Segments Defined Within The Global Gasoline Stations Market?
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
Subsegments:
1) By Gasoline (Petrol): Regular Gasoline, Premium Gasoline, Mid-grade Gasoline
2) By Diesel: Regular Diesel, Premium Diesel
3) By CNG Or Other Gases: Compressed Natural Gas (CNG), Liquefied Natural Gas (LNG), Hydrogen Fuel
4) By Non-Fuel Sales (Vehicle Parts Or Accessories And Groceries): Vehicle Parts And Accessories, Groceries, Convenience Store Items, Car Wash Services
Pre-Book The Gasoline Stations Global Market Report 2025 Report For Swift Delivery And Comprehensive Insights:
What Emerging Trends Are Influencing The Growth Of The Gasoline Stations Market?
Emerging technologies are becoming a dominant trend in the gasoline station market. Major players in this sector are focusing on employing cutting-edge technologies such as artificial intelligence and machine learning to cater to the needs of consumers and solidify their standing in the market. For instance, in February 2023, Abu Dhabi National Oil Company (ADNOC Distribution), known for manufacturing and distributing petrochemicals in the UAE, launched the AI-driven ADNOC Fill & Go station in Dubai and Abu Dhabi. This AI-backed system utilizes the latest advances in computer vision technology, incorporating machine-learning models that enable computers to recognize vehicles and deliver a tailored fueling experience. By registering their vehicles on the ADNOC Distribution app, customers can access any ADNOC station offering this new service, as smart cameras automatically recognize the vehicle. The customer's stored data is used at the pump to initiate the fueling process based on the preferred gasoline type and amount, providing a quicker and more streamlined refueling experience.
Who Are the Key Players In The Gasoline Stations Market?
Major companies operating in the gasoline stations market include:
• The PJSC Lukoil Oil Company
• PTT Public Company Limited
• Citgo Petroleum Corporation
• Sinopec
• Exxon Mobil Corporation
• China National Petroleum Corporation
• Petrochina Company Limited
• Shell plc
• TotalEnergies SE
• British Petroleum Company plc
• Chevron Corporation
• Marathon Petroleum Corporation
• The Phillips 66 Company
• Rosneft Oil Company
• Indian Oil Corporation
• Reliance Industries Limited
• Repsol S.A.
• SK Innovation Co. Ltd.
• GS Caltex Corporation
• 7-Eleven Inc.
• Speedway LLC
• Valero Energy Corporation
• Wawa Inc.
• Eni S.p.A.
• Aldrees Petroleum & Transport Services Co.
• Emirates National Oil Company Group
• PJSC Gazprom
• Caltex Australia Limited
• PETRONAS Dagangan Berhad
• Sheetz Inc.
What Is The Most Dominant Region In The Gasoline Stations Market?
Asia-Pacific was the largest region in the gasoline stations market in 2024. The regions covered in the gasoline stations market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
