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 expansion observed in the historical period can be attributed to automobile ownership trends, urbanization and infrastructure development, vehicle fuel efficiency, oil prices and supply, and 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 anticipated growth in the forecast period can be attributed to the transition to electric vehicles, the expansion of alternative fuels, the growth of hybrid and plug-in hybrid vehicles, changing commuting patterns, and partnerships with energy companies. Major trends expected in the forecast period include smart infrastructure and digital transactions, the transition to electric vehicle charging infrastructure, the diversification of services, the integration of technology for efficiency, and the adoption of contactless payments and digital transactions.

The anticipated rise in demand for vehicle fuel is set to drive the growth of the gasoline station market. Vehicle fuel encompasses gasoline and other inflammable or combustible gases or liquids used to power the combustion engines of motor vehicles. The surge in vehicle production and sales correlates directly with an increased need for vehicle fuel, subsequently contributing to the expansion of the gasoline station market. For instance, as of January 2023, the Energy Information Administration (EIA), a US government agency, reported a 0.3 million barrels per day (b/d) increase in the annual average gasoline consumption in the US for 2022. Additionally, Statistics Canada, a Canadian government body, indicated that net sales of road motor vehicle fuel rose from 36,894,411 liters in 2020 to 38,457,491 liters in 2021. Consequently, the demand for vehicle fuel is a driving force behind the growth of the gasoline station market.

The expected increase in demand for passenger vehicles is set to drive the growth of the gasoline station market. Passenger vehicles are primarily designed for transporting people, and they rely on gasoline stations to provide various gasoline grades, including regular, mid-grade, and premium, to meet diverse engine needs and performance preferences. As of February 2023, a report from the European Automobile Manufacturers' Association (ACEA) revealed a surge in global passenger car registrations to 66.2 million units in 2022, with EU car production experiencing a notable 7.1% uptick. The global manufacturing of passenger cars exceeded 68 million units in 2022, marking a substantial 7.9% increase from the previous year. Consequently, the escalating demand for passenger vehicles is a key driver for the growth of the gasoline station market.

Technological advancements, particularly in artificial intelligence (AI) and machine learning, are driving innovation. Major companies in this sector are incorporating new technologies to meet consumer demands and solidify their market positions. An example is the Abu Dhabi National Oil Company (ADNOC Distribution), a UAE-based manufacturer and distributor of petrochemicals, introducing the AI-powered fuel station called ADNOC Fill & Go in February 2023. This AI-powered system employs computer vision technology, including machine-learning models, to recognize vehicles and provide a personalized fueling experience. The system uses smart cameras to identify registered vehicles, allowing for an automated and efficient refueling process based on customer preferences.

Major companies are adopting a strategic partnership approach to enhance their service offerings and extend their reach. Strategic partnerships involve collaborative alliances between entities aiming for mutual growth by leveraging each other's strengths and resources. An example is the partnership between Worldline, a Europe-based payments and transactional services company, and Scheidt & Bachmann (S&B), a U.S.-based mobility solution provider, announced in June 2023. This collaboration aims to implement an innovative payment solution for fuel stations across Europe, providing drivers with a smoother payment experience at various points such as the pump, carwash, and in-store.

In January 2023, Chevron U.S.A. Inc., a US-based energy corporation focusing on oil and gas, acquired Beyond6 LLC (B6) for an undisclosed amount. This acquisition is part of Chevron's strategy to enhance its traditional products business by offering new products that align with a lower carbon future. Beyond6 LLC, operating in the gasoline stations market, became a part of Chevron through this acquisition.

Major companies operating in the gasoline stations market report are 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.

Asia-Pacific was the largest region in the gasoline stations market in 2023. The regions covered in the gasoline stations market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the gasoline stations market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

Gasoline stations come in different types such as gasoline, diesel, CNG, or other gases, and non-fuel sales. Gasoline, a volatile and flammable liquid mixture of hydrocarbons derived from petroleum, is used as fuel in internal combustion engines. Gasoline grades include regular, midgrade, and premium, with service types such as self-service and full-service catering to end-users in road transport vehicles, air transport vehicles, and water transport vehicles.

The gasoline stations market research report is one of a series of new reports that provides gasoline stations market statistics, including gasoline stations industry global market size, regional shares, competitors with a gasoline stations market share, detailed gasoline stations market segments, market trends, and opportunities, and any further data you may need to thrive in the gasoline stations industry. This gasoline stations market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry. 

The gasoline stations include revenues earned by entities by providing vehicle wash services, fuel, oil changes, and other automotive services. The market value includes the value of related goods sold by the service provider or included within the service offering. The gasoline station market also includes sales of gasoline and diesel fuel, repairment parts which are used in providing gasoline station services. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.