Gasoline Market: Size, Share, Trends & Forecast (2024-2029)
The market report provided a comprehensive analysis segmented by End User (Transportation, Power Generation, Others); by Geography (North America, South America, Asia Pacific, Europe, The Middle East, Africa).
Outlook
- The gasoline market is estimated to be at USD 9,90,464.68 Mn in 2024 and is anticipated to reach USD 10,45,405.81 Mn in 2029.
- The gasoline market is registering a CAGR of 1.09% during the forecast period 2024-2029.
- The gasoline market is influenced by a myriad of factors, including supply and demand dynamics, geopolitical events, regulatory policies, technological advancements, and environmental considerations.
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Ecosystem
- The participants in the global gasoline industry are always developing their strategies to preserve a competitive advantage.
- These companies primarily use acquisitions, R&D, partnerships, and technological launches.
- Several important entities in the gasoline market include Petro China Co. Ltd.; Marathon Petroleum Corp.; Valero Energy Corp.; Exxon Mobil Corp.; PBF Energy Inc.; and others.
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Findings
| Attributes | Values |
|---|---|
| Historical Period | 2018-2022 |
| Base Year | 2023 |
| Forecast Period | 2024-2029 |
| Market Size (2024) | US $9,90,464.68 Mn |
| Market Size (2029) | US $10,45,405.81 Mn |
| Growth Rate | 1.09% CAGR from 2024 to 2029 |
| Key Segments | End Use (Transportation, Power Generation, Others); Geography (North America, South America, Asia Pacific, Europe, The Middle East, Africa. |
| Key Vendors | Petro China Co. Ltd.; Marathon Petroleum Corp.; Valero Energy Corp.; Exxon Mobil Corp.; PBF Energy Inc. |
| Key Countries | The US; Canada; Mexico; Brazil; Argentina; Colombia; Chile; China; India; Japan; South Korea; The UK; Germany; Italy; France; Spain; Turkey; UAE; Saudi Arabia; Egypt; South Africa |
| Largest Market | North America |
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Trends
- Technological Advancements in Vehicles: Advances in automotive technology are leading to more fuel-efficient vehicles, reducing overall gasoline consumption. Hybrid cars, such as the Toyota Prius, exemplify this trend by offering significantly higher miles per gallon compared to traditional gasoline vehicles.
- Increase in Blended Fuels: The use of ethanol-blended fuels is rising as countries aim to meet environmental standards. The U.S. has seen a significant increase in E15 (15% ethanol) availability at gas stations, driven by government mandates and consumer interest in cleaner-burning fuels. This trend is helping to slightly reduce reliance on pure gasoline.
- Adoption of Advanced Data Analytics: Oil companies are increasingly using advanced data analytics to optimize gasoline production and distribution. For instance, ExxonMobil utilizes predictive analytics to anticipate maintenance needs and avoid unplanned downtime in refineries, ensuring a more stable supply of gasoline to the market.
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Catalysts
- Technological Innovations in Extraction and Refining: Advances in technology for oil extraction and refining can increase supply and reduce costs. Hydraulic fracturing (fracking) in the US revolutionized oil production by making previously inaccessible oil reserves viable, dramatically increasing the supply of crude oil and subsequently impacting gasoline prices.
- Rising Demand for Gasoline-based Fuel: The rising demand for gasoline-based fuel products and services, propelled by factors such as population growth, urbanization, and evolving consumer preferences, acts as a significant driver for market expansion.
- Government Policies and Incentives: Favorable governmental policies and incentives, such as subsidies for renewable energy and carbon pricing mechanisms, drive market growth for gasoline-based fuel solutions. The EU’s Renewable Energy Directive (RED) sets binding renewable energy targets for member states, promoting renewable energy use in various sectors, including transportation.
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Restraints
- Transition Towards Electric Vehicle: The transition towards alternative fuels and electric vehicles poses a significant challenge to traditional gasoline producers, compelling them to adapt their business models and invest in greener technologies to remain competitive.
- Supply Chain Disruption: Geopolitical tensions and supply chain disruptions in key oil-producing regions cause market volatility and price fluctuations, highlighting the need for supply chain resilience and diversification. For instance, the 2019 attacks on oil tankers in the Gulf of Oman spiked oil prices and increased market volatility.
- Evolving Regulatory Landscape: Evolving regulatory landscapes, including emissions standards and carbon pricing mechanisms, present compliance challenges and investment uncertainties for gasoline producers.
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Table of Contents
| 1.       Introduction 1.1.    Research Methodology 1.2.    Scope of the Study 2.       Market Overview / Executive Summary 2.1.    Global Gasoline Market (2018 – 2022) 2.2.    Global Gasoline Market (2023 – 2029) 3.       Market Segmentation 3.1.    Global Gasoline Market by End User 3.1.1. Transportation 3.1.2. Power Generation 3.1.3. Others 4.       Regional Segmentation 4.1.    North America 4.1.1. The US 4.1.2. Canada 4.1.3. Mexico 4.2.    South America 4.2.1. Brazil 4.2.2. Argentina 4.2.3. Colombia 4.2.4. Chile 4.2.5. Rest of South America 4.3.    Asia Pacific 4.3.1. China 4.3.2. India 4.3.3. Japan 4.3.4. South Korea 4.3.5. Rest of Asia Pacific 4.4.    Europe 4.4.1. The UK 4.4.2. Germany 4.4.3. Italy 4.4.4. France 4.4.5. Spain 4.4.6. Rest of Europe 4.5.    The Middle East 4.5.1. Turkey 4.5.2. UAE 4.5.3. Saudi Arabia 4.5.4. Rest of the Middle East 4.6.    Africa 4.6.1. Egypt 4.6.2. South Africa 4.6.3. Rest of Africa 5.       Value Chain Analysis of the Global Gasoline Market 6.       Porter Five Forces Analysis 6.1.    Threats of New Entrants 6.2.    Threats of Substitutes 6.3.    Bargaining Power of Buyers 6.4.    Bargaining Power of Suppliers 6.5.    Competition in the Industry 7.       Trends, Drivers and Challenges Analysis 7.1.    Market Trends 7.1.1.    Market Trend 1 7.1.2.    Market Trend 2 7.1.3.    Market Trend 3 7.2.    Market Drivers 7.2.1.    Market Driver 1 7.2.2.    Market Driver 2 7.2.3.    Market Driver 3 7.3.    Market Challenges 7.3.1.    Market Challenge 1 7.3.2.    Market Challenge 2 7.3.3.    Market Challenge 3 8.       Opportunities Analysis 8.1.    Market Opportunity 1 8.2.    Market Opportunity 2 8.3.    Market Opportunity 3 9.       Competitive Landscape 9.1.    Petro China Co. Ltd. 9.2.    Marathon Petroleum Corp. 9.3.    Valero Energy Corp. 9.4.    Exxon Mobil Corp. 9.5.    PBF Energy Inc. 9.6.    Company 6 9.7.    Company 7 9.8.    Company 8 9.9.    Company 9 9.10.  Company 10 |
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Gasoline Market – FAQs
1. What is the current size of the gasoline market?
Ans. In 2024, the gasoline market size $9,90,464.68 Mn.
2. Who are the major vendors in the gasoline market?
Ans. The major vendors in the gasoline market are Petro China Co. Ltd.; Marathon Petroleum Corp.; Valero Energy Corp.; Exxon Mobil Corp.; and PBF Energy Inc.
3. Which segments are covered under the gasoline market segments analysis?
Ans The gasoline market report offers in-depth insights into End Use, and Geography.