The gasoline stations market is set to grow from $2,566.61 billion in 2023 to $2,722.31 billion in 2024, at a CAGR of 6.1%. This growth is attributed to automobile ownership trends and urbanization. By 2028, the market is expected to reach $3,347.09 billion, with a CAGR of 5.3%, influenced by the transition to electric vehicle infrastructure and diversification of services.
Major Driver In The Gasoline Stations Market
The gasoline station market is poised for growth, driven by the increasing demand for vehicle fuel. Vehicle fuel, including gasoline and other combustible substances, is essential for powering motor vehicles. The growth in vehicle production and sales directly correlates with the rising demand for vehicle fuel, thereby influencing the gasoline station market. In January 2023, the Energy Information Administration noted a 0.3 million barrels per day (b/d) increase in the annual average gasoline consumption in the US for 2022. Additionally, Statistics Canada reported a rise in net sales of road motor vehicle fuel from 36,894,411 liters in 2020 to 38,457,491 liters in 2021. The growing demand for vehicle fuel is a key factor propelling the growth of the gasoline station market, with a projected market size of [2024: Value].
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Gasoline Stations Market Competitive Landscape
The PJSC Lukoil Oil Company, PTT Public Company Limited, Citgo Petroleum Corporation, Sinopec, China National Offshore Oil Corporation, Exxon Mobil Corporation, China National Petroleum Corporation, Petrochina Company Limited, Shell plc, Trafigura Group Pte. Ltd., 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.
Key Gasoline Stations Market Trend
Technological advancements are increasingly influencing the gasoline station market. Companies are adopting new technologies such as artificial intelligence and machine learning to enhance consumer experience and strengthen their market position. For instance, in February 2023, Abu Dhabi National Oil Company (ADNOC Distribution), based in the UAE, launched the ADNOC Fill & Go station—an AI-powered fuel station in Dubai and Abu Dhabi. This AI system leverages advanced computer vision and machine learning to recognize vehicles and deliver a personalized fueling experience. Registered vehicles are automatically identified by smart cameras, and refueling is initiated based on customer data, speeding up and streamlining the process.
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Gasoline Stations Market Segmentation
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
By Geography:The regions covered in the gasoline stations market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
Asia-Pacific was the largest region in the gasoline stations market in 2023.
The Gasoline Stations Global Market Report 2024 furnishes information about the global gasoline stations market, encompassing details like market size, projections for growth, segmentation across various sectors and regions, and an overview of competitors, including their revenues, profiles, and market shares. Furthermore, the report pinpoints potential opportunities and strategic directions derived from market trends and the strategies adopted by key competitors. The report also offers an assessment of how the COVID-19 pandemic, the Russia-Ukraine conflict, and increasing inflation have affected both global and regional markets, furnishing valuable strategic insights for businesses.
