Gas Stations with Convenience Stores in Florida - Industry Market Research Report

Gassing up: Continually high tourism in Florida will maintain industry revenue

Gas Stations with Convenience Stores in Florida

Over the past five years, as a consequence of wildly fluctuating crude oil prices, the Gas Stations with Convenience Stores industry in Florida has experienced moderate levels of revenue volatility. The current period and the years preceding have been a struggle for the industry as crude oil prices have unpredictably shifted before ultimately falling. The Florida industry's revenue has fallen more slowly than at the national level, primarily because of faster population growth in the state. Florida is a common retirement destination, particularly for people who spend their working years in colder climates. Moreover, Florida is a popular tourist destination. Vacationers often rent cars when they arrive, especially if they plan to spend a majority of their time far from an airport. More vehicle miles led to increased demand for industry products, which has curtailed the rate at which industry revenue has declined. Over the five years to 2022, the Florida industry is expected more closely mirror the national industry. Because of rebounds in the world price of crude oil, industry revenue is expected to expand.

Industry operators in Florida sell automotive fuels such as gasoline and diesel from stations that also contain convenience stores or food marts. They may also provide automotive repair services. This industry is distinct from the Convenience Stores industry in Florida (IBISWorld report FL44512) and the Gas Stations industry in Florida. Major oil producers that franchise out most of their convenience operations are not included, unless they own and operate a significant number of sites.

This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.