Global Gasoline Stations Market - Industry Analysis & Outlook 2022

Researchmoz added latest report "Gasoline Stations: Global Markets to 2022". The industry report lists the leading competitors and provides the insights strategic industry Analysis of the key factors influencing the market.

Global gasoline stations market is currently in a very crucial phase of transformation due to volatile oil and gas prices and growing popularity of battery powered cars. There is mounting pressure to reduce costs, improve quality and satisfy customers as it has been moving from a provider-driven model to a consumer-driven model. At the same time, factors such as, emerging market growth, rapid urbanization, rising population, improving technology, research and development investment and rising disposable income are driving the demand for petroleum products. These factors are contributing to the gasoline stations market growth.

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The market for gasoline stations reached a value of nearly $REDACTED billion in 2017 and is expected to grow at a compound annual growth rate (CAGR) of REDACTED% to nearly $REDACTED billion by 2020. The market for gasoline stations is somewhat concentrated with a few large players dominating the market. Major players in the market are PetroChina and British Petroleum among others. Gasoline accounted for the largest share of the market for gasoline market in 2017 at REDACTED%. The highest growthis also projected to come from others which includes vehicle parts/accessories and groceries, which isforecasted to grow at a CAGR of REDACTED%. Major factors included economic growth, urbanization andincreased economic activity.

Asia-Pacific is the largest market for gasoline stations market, accounting for REDACTED% of the global market.It was followed by North America and Africa. Going forward, Africa is expected to witness the fastestgrowth in the gasoline stations market, estimated at a CAGR of REDACTED%, followed by the South America,expected to grow at a CAGR of REDACTED%.

The USA is the largest market in terms of value and is driving the market gasoline stations market. India and Brazil are forecasted to have the fastest growth, growing at a CAGR of REDACTED% and REDACTED%, respectively.

The market is challenged by restraints such as limited land, stringent government regulations and shift to electric cars.

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