Gasoline Market Size, Share and Global Trend By Application (Cars, Sport Utility Vehicles, Light Trucks, and Motorcycles, Recreational Vehicles, Yacht, and Boats, Small Aircraft, Equipment and Tools, Electricity Generators, Others) and Regional Forecast, 2024-2032
KEY MARKET INSIGHTS
Demand for primary energy is growing day by day on account of the rising population, increasing the standard of living and rapid industrialization & urbanization. Primary energy requirements are met by coal, natural gas, gasoline, diesel, etc. Gasoline is one of the most used fuel sources in the present times. Gasoline or gas in American English or petrol in British English is a flammable liquid derived from petroleum or crude oil.
It is primarily used as a fuel in spark-ignited internal combustion engines. It contains mostly organic compounds obtained by the process of fractional distillation of petroleum. Gasoline is added with a variety of additives to enhance the performance of gasoline. Gasoline is blended with ethanol to mitigate the pollution caused by the burning of gasoline.
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Different grades of gasoline are used in various applications. Octane number is the standard measure of the performance of gasoline. Gasoline plays a significant role to reduce emissions and to improve engine operability and durability. Latest norms and regulations like Euro VI, BS-IV have improved the quality of fuel and helped in reducing emissions.
On the basis of applications, gasoline market can be segmented into Cars, sport utility vehicles, light trucks, motorcycles, recreational vehicles (RV), boats, yachts, small aircraft, equipment & tools and electricity generators. High-end sports cars and aircraft use high octane number gasoline fuel. Gasoline is used as fuel in tools and equipment which are used for farming, forestry, landscaping, etc. Gasoline is used to drive electrical generators that are used for portable or back-up power generation.
The major market driver for the global Gasoline market is the increase in demand for automobiles. Automobiles use gasoline as fuel. Key market restraint for the global gasoline market is the pollution caused by the burning of gasoline. Gases emitted by burning off gases result in global warming and climate change
Key Players Covered
Some of the notable companies in the global gasoline market are PetroChina Co, Marathon Petroleum, Valero Energy, Exxon Mobil, Phillips 56, Chevron, PBF Energy, Shell, British Petroleum, Koch, Motiva, Total, Statoil, Rosneft, Reliance, HPCL, Saudi Aramco and Royal Dutch Shell.
Segmentation
Segmentation | Details |
By Application |
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By Geography |
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Regional Analysis
The global gasoline market has been segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America leads the consumption of gasoline. USA and Canada have the highest number of automobiles on the road and the price of gasoline are also less as compared to rest of the world. Asia-Pacific is also expected to witness the rapid growth of gasoline market. Several countries like India, China, Australia, Japan, etc. are growing at a healthy rate. Rising usage of automobiles in Asia-Pacific region will boost sales of gasoline market. Countries like India, China, USA, etc. are storing a certain amount of gasoline as a part of strategic reserves and a step towards energy security. G5 countries are expected to witness the rapid growth of gasoline market. Europe is expected to provide steady growth parameters to gasoline market.
Key Industry Developments
- In August 2019, Venezuela received at least 616,000 barrels of gasoline and 500,000 of vacuum gas oil, a feedstock used to produce gasoline in June & July of 2019 form Russia.
- In July 2019, China increases gasoline exports in July and August of 2019 to near-record levels with cargoes moving to Mexico and Nigeria as Chinese refiners seek outlets for their fuel amid a wave of new production.
- In July 2019, BPCL has bought 20000 tonnes of Euro IV compliant 91.2-octane grade gasoline at a premium of about $9 a barrel to Singapore quotes on a cost-and-freight (C&F) basis.
- Ongoing
- 2023
- 2019-2022
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