What Does the Market Size Analysis Reveal About the Global Gasoline Market?
The gasoline market has shown consistent growth in recent years, with the size increasing from $1471.6 billion in 2024 to a projected $1537.6 billion in 2025 at a compound annual growth rate (CAGR) of 4.5%. This growth during the historic period is largely owed to factors such as global oil prices, advancements in the regulatory environment, shifts in consumer behavior, infrastructure development, and the evolution of the automobile industry. Further growth is expected, with forecasts suggesting it will expand to $1806.61 billion in 2029 at a CAGR of 4.1%. Trends such as the shift towards electric vehicles (EVs), new renewable energy policies, climate change regulations, and geopolitical factors are anticipated to drive this growth in the forecasted period.
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What Is Driving the Growth of the Gasoline Market?
The increasing demand for automobiles is a key driver of the gasoline market. As gasoline is the most commonly used fuel in automobiles, particularly in regions where electric or alternative fuel vehicles are yet to gain popularity, the rising demand for vehicles fuels a corresponding increase in gasoline demand. Notably, in March 2024, the European Automobile Manufacturers Association reported a near 10% increase in global new car sales, following stable performance in 2022. In the EU, sales surged by approximately 14%, totaling 10.5 million units. Hence, the rise in automobile demand continues to drive this market’s growth.
What Are the Major Segments in the Global Gasoline Market?
1. By Type – Regular Gasoline, Special Gasoline
2. By Application – Transportation, Small Aircrafts, Electricity Generators, Recreational Vehicles, Other Applications
3. By End-User – Transportation, Power Generation, Other End-Users
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Which Companies Are Major Players in the Gasoline Market?
Major corporations operating within the gasoline market include Exxon Mobil Corporation, Shell plc, Chevron Corporation., PBF Energy Inc., Reliance Industries Limited, PetroChina Company Limited, Saudi Arabian Oil Co., China National Petroleum Corporation, BP plc, Marathon Petroleum Corporation, Valero Energy Corporation, PetrĂ³leos de Venezuela SA, Motiva Enterprises LLC, among others. These corporations help shape the competitive landscape of the gasoline market by continuously investing in new technologies and pioneering innovative products to sustain their market positions.
What Are the Emerging Trends in the Gasoline Market?
One significant trend gaining traction in the gasoline market is product innovation. Companies are consistently adopting new product innovations to maintain their market positions. For instance, Renewable Energy Group Inc., a US-based biobased diesel producer, announced the launch of its fuel solutions under the EnDura Fuels brand in March 2022. This product introduction enhances the company’s ongoing initiatives to support the transportation sector in achieving their sustainability goals through the use of cleaner-burning, lower-emission fuels.
Which Region Holds the Largest Share in the Global Gasoline Market?
In 2024, North America held the largest share of the global gasoline market. However, during the forecast period, Asia-Pacific is expected to be the fastest-growing region in this market.
What Does The Gasoline Market Report 2025 Offer?
Gasoline refers to fuel derived from crude oil and other petroleum liquids, primarily used in machines with internal combustion engines. The Gasoline Market research report from The Business Research Company provides a detailed analysis of the global market size, growth rate, regional shares, competitor landscape, market segments, trends, and opportunities.
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