Global Gasoline Market, By Type (Regular Gasoline, Special Gasoline), Application (Motorcycle, Automobile, Others) - Industry Trends and Forecast to 2029.
Market Analysis and Size
The global average price of gasoline is 1.32 US dollars per litre. However, there is a significant price disparity between countries. Richer countries tend to have higher prices, whereas poorer countries and those that produce and export oil tend to have lower prices. The United States, for example, is an economically advanced country with cheap gas prices. The pricing discrepancies between countries are due to differing gasoline taxes and subsidies. All countries have access to the same worldwide petroleum rates, but they choose to apply various taxes. As a result, the price of gasoline at the pump varies.
Data Bridge Market Research analyses that the gasoline market was valued at USD 125,000 million in 2021 and likely to reach USD 140,811.6 by 2029, and is expected to grow at a CAGR of 1.50% during the forecast period of 2022 to 2029.
Report Scope and Market Segmentation
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Report Metric
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Details
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Forecast Period
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2022 to 2029
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Base Year
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2021
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Historic Years
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2020 (Customizable to 2019 - 2014)
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Quantitative Units
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Revenue in USD Billion, Volumes in Units, Pricing in USD
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Segments Covered
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Type (Regular Gasoline, Special Gasoline), Application (Motorcycle, Automobile, Others)
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Countries Covered
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U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, Israel, Egypt, South Africa, Rest of Middle East and Africa (M.E.A.) as a part of Middle East and Africa (M.E.A.), Brazil, Argentina and Rest of South America as part of South America
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Market Players Covered
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Saudi Arabian Oil Co. (Saudi Arabia), Exxon Mobil Corporation (US), China National Petroleum Corporation (China), BP plc (UK), Shell plc (UK), PDVSA - Petróleos de Venezuela, SA. (Venezuela), Gazprom (Russia), Chevron Corporation. (US), Kuwait Petroleum Corporation (KPC) (Kuwait), Petrobras (Brazil), LUKOIL (Russia), ROSNEFT (Russia), Abu Dhabi National Oil Company (UAE), China Petrochemical Corporation. (China), Petroliam Nasional Berhad (PETRONAS) (Malaysia), Eni S.p.A. (Italy), ENOC Company (UAE), NNPC (Nigeria), EGPC (Egypt), Equinor ASA (Norway), Oil and Natural Gas Corporation (India) and PT Pertamina Gas (Indonesia).
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Market Opportunities
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Market Definition
The term "gasoline" or "petroleum" refers to a crude oil/petroleum by-product. It is produced for the duration of the fractional distillation system, has a translucent liquid shape, and contains several additives such as ethanol for use as a fuel for passenger vehicles. Gasoline is utilised as a motor fuel all over the world, and it is one of the most widely used items in all countries.
Gasoline Market Dynamics
Drivers
- Increase in the automobile products
The increased use of car items such as motorcycles is a key factor driving market expansion.
- Rise in the demand for high velocity cars
Due to the growing sales of automobiles and increasing demand of high velocity cars is further anticipated to propel the growth of the gasoline market.
- Increase in the research and development
Technological components, as well as the government's increasing number of research and development activities will accelerate the growth of the gasoline market.
Opportunities
In addition, the growing modernization in the production techniques and increase in the demand from advancing economies is further estimated to provide potential opportunities for the growth of the gasoline market in the coming years.
Restraints/Challenges
On the other hand, the increase in the prices of gasoline products in comparison to its other subsidiaries is further projected to impede the growth of the gasoline market in the targeted period. However, the rise in the government initiatives towards the use of natural energy might further challenge the growth of the gasoline market in the near future.
This gasoline market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the gasoline market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
COVID-19 Impact on Gasoline Market
The pandemic of COVID-19 has had a huge impact on the gasoline market. The COVID-19 epidemic delayed the growth of several process industries, which is projected to have an impact on petrol prices in the pandemic period. COVID-19 had a greater impact on gasoline demand and pricing than on demand and prices for other refined petroleum products. However, in the post-COVID scenario, gasoline market is projected to be significantly impacted.
Global Gasoline Market Scope and Market Size
The gasoline market is segmented on the basis of type and application. The growth amongst these segments will help you analyze meager growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Type
- Regular Gasoline
- Special Gasoline
On the basis of type, the gasoline market is segmented into regular gasoline and special gasoline.
Application
- Motorcycle
- Automobile
- Others
On the basis of application, the gasoline market is segmented into motorcycle, automobile and others.
Gasoline Market Regional Analysis/Insights
The gasoline market is analysed and market size insights and trends are provided by country, type and application as referenced above.
The countries covered in the gasoline market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, Israel, Egypt, South Africa, Rest of Middle East and Africa (M.E.A.) as a part of Middle East and Africa (M.E.A.), Brazil, Argentina and Rest of South America as part of South America.
North America dominates the gasoline market due to the rise in the demand for high velocity cars. Furthermore, the increase in the use of small aircraft of private plane will further boost the growth of the gasoline market in the region during the forecast period.
Asia-Pacific is projected to observe significant amount of growth during the forecast period of 20222 to 2029 in the gasoline market due to the increase in the research and development activities. Moreover, the rise in the in the use of gasoline product in dry-cleaning acts is further anticipated to propel the growth of the gasoline market in the region in the coming years.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Gasoline Market Share Analysis
The gasoline market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to gasoline market.
Some of the major players operating in the gasoline market are:
- Saudi Arabian Oil Co. (Saudi Arabia)
- Exxon Mobil Corporation (US)
- China National Petroleum Corporation (China)
- BP plc (UK)
- Shell plc (UK)
- PDVSA - Petróleos de Venezuela, SA. (Venezuela)
- Gazprom (Russia)
- Chevron Corporation. (US)
- Kuwait Petroleum Corporation (KPC) (Kuwait)
- Petrobras (Brazil), LUKOIL (Russia)
- ROSNEFT (Russia)
- Abu Dhabi National Oil Company (UAE)
- China Petrochemical Corporation. (China)
- Petroliam Nasional Berhad (PETRONAS) (Malaysia)
- Eni S.p.A. (Italy)
- ENOC Company (UAE)
- NNPC (Nigeria)
- EGPC (Egypt)
- Equinor ASA (Norway)
- Oil and Natural Gas Corporation (India)
- PT Pertamina Gas (Indonesia)
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