Dublin, Sept. 14, 2023 (GLOBE NEWSWIRE) -- The "Gasoline Stations Global Market Report 2023" report has been added to ResearchAndMarkets.com's offering.
The global gasoline stations market is set to experience significant growth, with projections indicating an increase from $2.43 trillion in 2022 to $2.60 trillion in 2023. This growth is estimated to continue at a Compound Annual Growth Rate (CAGR) of 6.6%. By 2027, the market is expected to reach $3.15 trillion, reflecting a CAGR of 5.0%.
Fueling Progress with Technological Advancements
Technological advancements are emerging as a key trend in the gasoline stations market, with major companies focusing on the implementation of cutting-edge technologies such as artificial intelligence and machine learning to enhance consumer experiences and solidify their market standing. For instance, Abu Dhabi National Oil Company (ADNOC Distribution) introduced the AI-powered ADNOC Fill & Go station, utilizing advanced computer vision technology for a hyper-personalized refueling experience. This technology automatically initiates the refueling process based on vehicle recognition and customer preferences.
Strategic Acquisitions Drive Market Dynamics
Strategic acquisitions are reshaping the market landscape, exemplified by Chevron U.S.A. Inc.'s acquisition of Beyond6 LLC (B6), aimed at bolstering Chevron's products business by offering solutions for a lower carbon future. Beyond6 LLC, operating in the gasoline stations sector, has brought innovation and expertise into Chevron's portfolio.
Asia-Pacific Takes the Lead
Asia-Pacific emerged as the largest region in the gasoline stations market in 2022. This region, along with others including Western Europe, Eastern Europe, North America, South America, Middle East, and Africa, contributes to the global growth of the industry.
Growing Demand for Vehicle Fuel
The increasing demand for vehicle fuel is anticipated to drive the growth of the gasoline station market. As vehicle production and sales surge, the need for vehicle fuel sold through gasoline stations increases proportionally. This demand is directly linked to the expansion of the gasoline station market. The transition towards value-based care and the rise in vehicle production has further intensified this growth.
Market Characteristics
The gasoline stations market includes revenues earned through vehicle wash services, fuel, oil changes, and other automotive services. It encompasses sales of gasoline and diesel fuel, as well as repair parts utilized in providing gasoline station services. Technological advancements are redefining the industry, with AI and machine learning enhancing the overall customer experience.
Key Questions and Analysis
- Where is the largest and fastest-growing market for gasoline stations?
- How does the market relate to the overall economy and demography?
- What factors will shape the market's trajectory?
This comprehensive report offers insights into market characteristics, size and growth, segmentation, competitive landscape, trends, and strategies. It tracks historical and forecast market growth by geography.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 275 |
| Forecast Period | 2023 - 2027 |
| Estimated Market Value (USD) in 2023 | $2596.14 billion |
| Forecasted Market Value (USD) by 2027 | $3150.14 billion |
| Compound Annual Growth Rate | 5.0% |
| Regions Covered | Global |
Major players in the Gasoline Stations market are
- Shell plc
- British Petroleum Company PLC
- TotalEnergies SE
- Exxon Mobil Corporation
- Chevron Corporation
- China National Petroleum Corporation
- China National Offshore Oil Corporation
- Aldrees Petroleum & Transport Services Co.
- Emirates National Oil Company Group
- Phillips 66 Company
- Indian Oil Corporation
- Petrochina Company Limited
- Citgo Petroleum Corporation
- Speedway
- Sinopec
Key Topics Covered:
1. Executive Summary
2. Gasoline Stations Market Characteristics
3. Gasoline Stations Market Trends And Strategies
4. Gasoline Stations Market - Macro Economic Scenario
4.1. COVID-19 Impact On Gasoline Stations Market
4.2. Ukraine-Russia War Impact On Gasoline Stations Market
4.3. Impact Of High Inflation On Gasoline Stations Market
5. Gasoline Stations Market Size And Growth
5.1. Global Gasoline Stations Historic Market, 2017-2022, $ Billion
5.1.1. Drivers Of The Market
5.1.2. Restraints On The Market
5.2. Global Gasoline Stations Forecast Market, 2022-2027F, 2032F, $ Billion
5.2.1. Drivers Of The Market
5.2.2. Restraints On the Market
6. Gasoline Stations Market Segmentation
6.1. Global Gasoline Stations Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- Gasoline
- Diesel
- CNG Or Other Gases
- Non-Fuel Sales
6.2. Global Gasoline Stations Market, Segmentation By Gasoline Grade, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- Regular
- Midgrade
- Premium
6.3. Global Gasoline Stations Market, Segmentation By Service Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- Self-Service
- Full-Service
6.4. Global Gasoline Stations Market, Segmentation By End-User, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- Road Transport Vehicles
- Air Transport Vehicles
- Water Transport Vehicles
7. Gasoline Stations Market Regional And Country Analysis
7.1. Global Gasoline Stations Market, Split By Region, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
7.2. Global Gasoline Stations Market, Split By Country, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
For more information about this report visit https://www.researchandmarkets.com/r/o5s7bp
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