The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032

LONDON, July 25, 2023 (GLOBE NEWSWIRE) -- As per The Business Research Company’s Gasoline Stations Global Market Report 2023, the rising demand for automobile fuel is likely to promote the expansion of the gasoline station industry in the coming years. Vehicle fuel covers gasoline and any other inflammable or combustible gas or liquid used to power the combustion of motor vehicles. As vehicle production and sales expand, so does demand for vehicle fuel sold at gas stations; hence, demand for vehicle fuel is directly related to the expansion of the gasoline station market. According to the Energy Information Administration (EIA), a US government body, yearly average gasoline consumption in the US increased by 0.3 million barrels per day (b/d) in 2022 in January 2023 As a result, the expansion of the gasoline station market is driven by the demand for automobile fuel.

The global gasoline stations market size is expected to grow from $2,434.7 billion in 2022 to $2,596.1 billion in 2023 at a compound annual growth rate (CAGR) of more than 6%. The global gasoline stations market size is then expected to reach $3,150.1 billion in 2027 at a CAGR of 5%.

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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, and Sinopec.

Technological advancements are a major trend that is gaining traction in the fuel station business. To meet consumer demand and increase their market position, major fuel station firms are focusing on incorporating new technologies such as artificial intelligence and machine learning. For example, in February 2023, Abu Dhabi National Oil Company (ADNOC Distribution), a petrochemical manufacturer and distributor based in the UAE, launched the ADNOC Fill & Go station, an AI-powered fuel station in Dubai and Abu Dhabi. The AI-powered system makes use of the most recent advances in computer vision technology, such as machine-learning models, which enable computers to recognize vehicles and respond by giving a hyper-personalized fueling experience. After registering their vehicle on the ADNOC Distribution app, customers can visit an ADNOC station that supports the new service, and smart cameras will automatically identify the vehicle. At the pump, the client's recorded data is used to start the refueling process automatically based on the selected gasoline type and spending amount, resulting in a faster and smoother refueling experience.

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Asia-Pacific was the largest region in the gasoline stations market in 2022.

The global gasoline stations market is segmented by type into gasoline (petrol), diesel, CNG or other gases, non-fuel sales (vehicle parts or accessories and groceries); by gasoline grade into regular, midgrade, premium; by service type into self-service, full-service; by end-user into road transport vehicles, air transport vehicles, water transport vehicles.

Gasoline Stations Global Market Report 2023 by The Business Research Company provides insights on the gasoline stations market size, gasoline stations market segments, gasoline stations market trends, drivers and restraints, major competitors’ market positioning, revenues and market shares.

The Business Research Company has published over 5,000+ industry reports, covering more than 2,500+ market segments and 60 geographies. The reports draw on 1,500,000 datasets, extensive secondary research, and exclusive insights from interviews with industry leaders.

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