Gasoline as a Fuel Market Size
| Study Period | 2019 - 2029 |
| Market Size (2024) | USD 1.85 Trillion |
| Market Size (2029) | USD 1.95 Trillion |
| CAGR (2024 - 2029) | 1.06 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Gasoline as a Fuel Market Analysis
The Gasoline As A Fuel Market size is estimated at USD 1.85 trillion in 2024, and is expected to reach USD 1.95 trillion by 2029, growing at a CAGR of 1.06% during the forecast period (2024-2029).
- Over the medium term, factors such as the rising adoption of automobiles such as passenger cars and motorcycles across the world and the easy availability of gasoline are driving the growth of gasoline as a fuel market during the forecast period.
- On the other hand, the use of alternative clean sources of energy to reduce carbon emissions and the increasing penetration of electric vehicles across the globe is likely to restrain the growth of the market.
- Nevertheless, the emerging use of portable gasoline generators in home and event applications is anticipated to create ample opportunities for gasoline as a fuel market in the near future.
Gasoline as a Fuel Market Trends
Transportation Segment is Expected to Dominate in the Market
- In order to operate smoothly and efficiently, the transportation sector requires a considerable amount of energy. Most vehicles require secondary fuels such as gasoline, diesel, or jet fuel. Primary fuels such as crude oil or natural gas are converted into usable fuels through the use of technology.
- As one of the most used fuels in automobiles, gasoline is a petroleum-based fuel designed for engines with four to six cylinders, which are found in many cars. Gasoline offers numerous advantages to automobile drivers. Due to its high combustibility, gasoline-powered vehicles tend to start up faster than those powered by other fuels. Compared to other fuels, gasoline accelerates much more quickly.
- Further, two-wheelers are widely available worldwide, with varying demand levels and popularity across various regions. Further, two-wheelers are widely used for personal transportation in countries such as China, India, Indonesia, Vietnam, Thailand, and several other Asian countries.
- According to the Society of Indian Automobile Manufacturers (SIAM), a total of 19.45 million two-wheelers were produced in India during the fiscal year 2023, with a growth rate of 9.1% from the previous year, and further, the two-wheeler production represented around 75% of all automobiles produced in the FY 2023.
- Further, Europe also witnessed significant growth in automobile sales. According to Industrieverband Motorrad e.V., there was a total of 198,193 new registrations for motorcycles and scooters in Germany in 2022, with a growth rate of 0.33% from the previous year.
- Hence, demand for gasoline as a fuel is expected to increase in the transportation segment across the globe over the forecast period.
North America to Dominate the Market
- North America is one of the largest markets in terms of capital expenditure in the oil and gas industry, with the United States being the leader, followed by Canada and Mexico. The United States is a major crude oil and natural gas producer in the world, and the country is expected to cover around 60% of the world's oil demand in the coming years.
- The United States is one of the leading countries in the North American region, where automobile sales were around 1,42,30,324 in 2022. Among these, cruise and sports bikes are the prominent ones, as in the United States, motorcycles are mostly used for long tours and sports purposes rather than just for commute purposes.
- Over the years, the country witnessed growth in the number of bike sales, especially in the private and commercial sectors. As per the US Department of Transportation, as of 2021, the private and commercial motorcycle sales were around 9.8 million, an increase of around 18% compared to the previous year. The growth in sales of motorcycles is likely to continue in the private sector during the upcoming years, which would create demand for gasoline fuel.
- Most single-cylinder engines used in motor vehicles are fueled by gasoline. Single-cylinder engines in the United States are primarily used in water pumps and soil ramming machines. Both these pieces of equipment are majorly used in construction sites. Hence, an increase in commercial, industrial, and road infrastructure construction would create ample demand for single-cylinder engines in the United States, thus driving the growth of the gasoline as a fuel market
- Construction sector in the United States contributed around 3.9% of the total GDP in 2022. The industry grew over the years due to the expansion in the commercial and household areas. The residential sector witnessed the highest growth in recent years, followed by the non-residential. As per the Construction Association, in 2022, the United States residential sector witnessed the highest investment of around USD 910 billion, while non-residential sectors (including private and public) witnessed an investment of around USD 888 billion (USD 534 billion private, and USD 355 billion public).
- Gasoline is the dominant transportation fuel in the North America. With growing transport and construction segment in the region drives the market growth.
Gasoline as a Fuel Industry Overview
The gasoline as a fuel market is fragmented. Some of the major key players in the market (in no particular order) include Chevron Corporation, Exxon Mobil Corporation, PetroChina Company Limited, Qatar Petroleum, and Reliance Industries Ltd., among others.
Gasoline as a Fuel Market Leaders
-
Chevron Corporation
-
Exxon Mobil Corporation
-
PetroChina Company Limited
-
Qatar Petroleum
-
Reliance Industries Ltd
*Disclaimer: Major Players sorted in no particular order
Gasoline as a Fuel Market News
- In October 2023, Aramco and ENOWA, NEOM’s energy and water company, have signed a joint development agreement to construct and establish a first-of-its-kind synthetic electro-fuel (e-fuel) demonstration plant aimed to display technological feasibility and commercial viability by developing thirty five barrels per day of low-carbon, synthetic gasoline from renewable-based hydrogen and captured carbon dioxide (CO2).
- In July 2022, the U.S. Department of Energy (DOE) announced that contracts have been awarded for the purchase of crude oil from the Strategic Petroleum Reserve (SPR). This contract awards are part announcement of president to release one million barrels of crude oil a day for six months to address the significant global supply disruption caused by Russia-Ukraine war.
Gasoline as a Fuel Market Report - Table of Contents
1. INTRODUCTION
1.1 Scope of the Study
1.2 Market Definition
1.3 Study Assumptions
2. EXECUTIVE SUMMARY
3. RESEARCH METHODOLOGY
4. MARKET OVERVIEW
4.1 Introduction
4.2 Market Size and Demand Forecast in USD, till 2028
4.3 Recent Trends and Developments
4.4 Government Policies and Regulations
4.5 Market Dynamics
4.5.1 Drivers
4.5.1.1 Rising Adoption of Automobiles such as Passenger Cars, Motorcycles Across the World
4.5.1.2 Easy Availability of Gasoline
4.5.2 Restraints
4.5.2.1 The Use of Alternative Clean Sources of Energy
4.6 Supply Chain Analysis
4.7 Porter's Five Force Analysis
4.7.1 Bargaining Power of Suppliers
4.7.2 Bargaining Power of Consumers
4.7.3 Threat of New Entrants
4.7.4 Threat of Substitute Products and Services
4.7.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION
5.1 End-User
5.1.1 Transporation
5.1.2 Power Generation
5.1.3 Others
5.2 Geography
5.2.1 North America
5.2.1.1 United States
5.2.1.2 Canada
5.2.1.3 Rest of North America
5.2.2 Europe
5.2.2.1 Germany
5.2.2.2 France
5.2.2.3 United Kingdom
5.2.2.4 Rest of Europe
5.2.3 Asia-Pacific
5.2.3.1 China
5.2.3.2 India
5.2.3.3 Japan
5.2.3.4 South Korea
5.2.3.5 Rest of Asia-Pacific
5.2.4 South America
5.2.4.1 Brazil
5.2.4.2 Argentina
5.2.4.3 Rest of South America
5.2.5 Middle-East and Africa
5.2.5.1 Saudi Arabia
5.2.5.2 United Arab Emirates
5.2.5.3 South Africa
5.2.5.4 Rest of Middle-East and Africa
6. COMPETITIVE LANDSCAPE
6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
6.2 Strategies Adopted by Leading Players
6.3 Company Profiles
6.3.1 Chevron Corporation
6.3.2 Exxon Mobil Corporation
6.3.3 PetroChina Company Limited
6.3.4 Qatar Petroleum
6.3.5 Royal Dutch Shell Plc
6.3.6 Reliance Industries Ltd
6.3.7 Saudi Arabian Oil Co
6.3.8 SK energy Co., Ltd.
6.3.9 NK Rosneft' PAO
6.3.10 BP plc
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
7.1 The Emerging Use of the Portable Gasoline Generators in Residential Sector
Gasoline as a Fuel Industry Segmentation
Gasoline is utilized as a fuel in spark-ignited internal combustion engines. It comprises mainly organic compounds obtained by the process of fractional distillation of petroleum. It is added with a variety of additives to enhance the performance of the fuel, and it is blended with ethanol to mitigate the pollution caused by the burning of gasoline.
The gasoline as a fuel market is segmented into end-user and geography. By end-user, the market is segmented into transportation, power generation, and others. The report also covers the market size and forecasts for the gasoline as a fuel market across the major regions. For each segment, the market sizing and forecasts have been done based on revenue (USD).
| End-User | |
| Transporation | |
| Power Generation | |
| Others |
| Geography | |||||||
| |||||||
| |||||||
| |||||||
| |||||||
|
Gasoline as a Fuel Market Research FAQs
How big is the Gasoline As A Fuel Market?
The Gasoline As A Fuel Market size is expected to reach USD 1.85 trillion in 2024 and grow at a CAGR of 1.06% to reach USD 1.95 trillion by 2029.
What is the current Gasoline As A Fuel Market size?
In 2024, the Gasoline As A Fuel Market size is expected to reach USD 1.85 trillion.
Who are the key players in Gasoline As A Fuel Market?
Chevron Corporation, Exxon Mobil Corporation, PetroChina Company Limited, Qatar Petroleum and Reliance Industries Ltd are the major companies operating in the Gasoline As A Fuel Market.
Which is the fastest growing region in Gasoline As A Fuel Market?
Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Gasoline As A Fuel Market?
In 2024, the North America accounts for the largest market share in Gasoline As A Fuel Market.
What years does this Gasoline As A Fuel Market cover, and what was the market size in 2023?
In 2023, the Gasoline As A Fuel Market size was estimated at USD 1.83 trillion. The report covers the Gasoline As A Fuel Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Gasoline As A Fuel Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Gasoline as a Fuel Industry Report
Statistics for the 2024 Gasoline as a Fuel market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Gasoline as a Fuel analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
