According to the latest report by IMARC Group, titled “Gasoline Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028”, the global gasoline market is expected to exhibit a CAGR of 1.5% during 2023-2028. Gasoline is a form of crude oil or petroleum by-product that is primarily used as a fuel for spark-ignited engines. It is produced by the fractional distillation of petroleum and contains mainly organic compounds. As a result of its various constituents and additives, gasoline fuel is more volatile than kerosene, jet fuel (naphtha), diesel fuel, or heating oil. Several additives are added to gasoline for improving its performance, including the addition of ethanol to create a pollutant-mitigating fuel. It is also used as fuel in farming, forestry, landscaping tools, and propeller aircraft.
Global Gasoline Market Trends:
The global market is majorly driven by the augmenting sales of automobiles and automobile components. This can be attributed to the rapid improvements in the urban transportation system, along with the escalating demand for high velocity cars. In line with this, the introduction of a wide range of transportation mediums and the widespread product availability across numerous gas stations are propelling the market. Additionally, the increasing modernization of the automotive production technologies is providing an impetus to the market. The market is further fueled by the rapid product utilization in electrical generators with enhanced portability for backup power generation. Furthermore, the introduction of renewable biogasoline variants is also creating a positive outlook for the market. Some of the other factors contributing to the market include the widespread adoption of gasoline products in dry-cleaning, the growing usage of small aircraft and private planes, the escalating demand for efficient motor fuels, and extensive research and development (R&D) activities.
- Based on the type, the market has been segmented into regular gasoline and special gasoline.
- On the basis of the application, the market has been categorized into motorcycle, automobile, and others.
- On the geographical front, the market has been segregated into North America (the United States and Canada), Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia and others), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia and others), Latin America (Brazil, Mexico and others), and Middle East and Africa.
- The competitive landscape of the market has been studied in the report with the detailed profiles of the key players. Some of these players include BP plc, Chevron Corporation, CNPC, Exxon Mobil, Koch Industries Inc., Lukoil, Marathon Petroleum Corporation, PBF Energy, Petrobras, Reliance Industries Limited, Saudi Arabian Oil Co., and Valero.
|Base Year of the Analysis
||Type, Application, Region
|| Asia Pacific, Europe, North America, Latin America, Middle East and Africa
||United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
||BP plc, Chevron Corporation, CNPC, Exxon Mobil, Koch Industries Inc., Lukoil, Marathon Petroleum Corporation, PBF Energy, Petrobras, Reliance Industries Limited, Saudi Arabian Oil Co. and Valero.
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