The latest report published by IMARC Group, titled “Gasoline Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028”, offers a comprehensive analysis of the industry, which comprises insights on gasoline market analysis. The report also includes competitor and regional analysis, and contemporary advancements in the global market.
The global gasoline market size reached US$ 125.97 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 138.54 Billion by 2028, exhibiting a growth rate (CAGR) of 1.5% during 2023-2028.
Gasoline is a hydrocarbon-based liquid derived primarily from the fractional distillation of crude oil, extensively used as fuel in internal combustion engines. Characterized by its high energy density and rapid ignition properties, gasoline plays a vital role in powering a wide range of automotive and industrial machinery. When ignited in an engine, gasoline undergoes a combustion reaction that releases energy in the form of heat and motion, facilitating vehicular propulsion and mechanical operations. The product has undergone various enhancements over the years, such as the addition of antiknock agents and detergents, to improve its efficiency and minimize its environmental impact. Among its key advantages are its wide availability, relative affordability, and high energy yield per unit of volume, making it a preferred choice for transportation and certain industrial applications.
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Market Trends:
The global market is principally driven by the ever-increasing demand for personal and commercial transportation. In line with this, the growing trend of automotive ownership around the world provides substantial momentum to the market. Moreover, advancements in refining technologies are acting as major contributors to market growth. In addition to this, the proliferation of on-demand and shared mobility services is elevating gasoline consumption rates. Apart from this, strategic reserves maintained by nations to safeguard against energy supply disruptions are propelling the market. Some of the other factors contributing to the market include a rising middle-class population with higher disposable income, seasonal fluctuations increasing fuel use, the inclusion of ethanol blends for cleaner combustion, and government policies aimed at stabilizing fuel prices.
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Competitive Landscape:
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
- BP plc
- Chevron Corporation
- CNPC
- Exxon Mobil
- Koch Industries Inc.
- Lukoil
- Marathon Petroleum Corporation
- PBF Energy
- Petrobras
- Reliance Industries Limited
- Saudi Arabian Oil Co.
- Valero
Gasoline Market Segmentation:
Our report has categorized the market based on region, type and application.
Breakup by Type:
- Regular Gasoline
- Special Gasoline
Breakup by Application:
- Motorcycle
- Automobile
- Others
Breakup by Region:
- North America (United States, Canada)
- Europe (Germany, France, United Kingdom, Italy, Spain, Others)
- Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)
Key highlights of the report:
- Market Performance (2017-2022)
- Market Outlook (2023-2028)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
About Us
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
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