Future of Gasoline Market: Size, Share & Forecasts to 2029

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What Is the Projected Market Size Valuation of the Gasoline Market by 2025?
In recent times, there has been a consistent increase in the size of the gasoline market. Projections indicate that it will surge from $1451.17 billion in 2024 to $1500.11 billion in 2025, indicating a compound annual growth rate (CAGR) of 3.4%. Factors such as fluctuating global oil prices, regulatory measures, consumer patterns, expansion of infrastructure, and developments in the auto industry have contributed to this growth in the historical period.

What Is the Estimated Market Growth Value for the Gasoline Industry in 2029?
In the coming years, the gasoline market size is predicted to observe reliable expansion. By 2029, it is projected to increase to $1771.99 billion at a compound annual growth rate (CAGR) of 4.3%. The growth during the projected period can be associated with the movement towards electric vehicles (EVs), policies endorsing renewable energy, regulations addressing climate change, and geopolitical influences. The forecast period is expected to see major trends including global economic recuperation, assimilation of electric vehicles, progress in fuel efficiency technology, governing rules and orders, and undulations in the cost of oil.

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What Are the Growth Drivers and Opportunities in the Gasoline Market?
The rising need for automobiles is projected to spur the expansion of the gasoline market. Gasoline, particularly in regions where electric or alternative fuel vehicles aren't commonly adopted, is the primary fuel used in most vehicles. As the need for automobiles rises, the demand for gasoline to power these vehicles is also likely to rise, contributing to the growth of the gasoline market. For example, data from the Belgium-based European Automobile Manufacturers Association, the leading lobby and standards group for the auto industry, shows that global new car sales in March 2024 went up by nearly 10% after a steady performance in 2022. In the EU, sales leapt by around 14%, amassing 10.5 million units, and purchases of battery-electric vehicles increased by 37%, claiming a 14.6% market share. Therefore, the surging demand for automobiles is stimulating the growth of the gasoline market.

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What Are the Primary Segments Covered in the Global Gasoline Market Report?
The gasoline market covered in this report is segmented -

1) By Type: Regular Gasoline, Special Gasoline
2) By Application: Transportation, Small Aircrafts, Electricity Generators, Recreational Vehicles, Other Applications
3) By End-User: Transportation, Power Generation, Other End-Users

Subsegments:
1) By Regular Gasoline: Regular Unleaded Gasoline (87 octane), Regular Oxygenated Gasoline
2) By Special Gasoline: Premium Gasoline (91-93 octane), Special Additive Gasoline

What Are the Top Growth Trends in the Gasoline Market?
Emerging strongly in the gasoline market is the trend of product innovation. To maintain their standing in the marketplace, businesses in this sector are pioneered new products. For example, in March 2022, Renewable Energy Group Inc., a biobased diesel firm from the United States, unveiled its fuel solutions under the EnDura Fuels brand. This new product supports the ongoing efforts of Renewable Energy Group to help the transport industry by offering cleaner-burning, less polluting fuels. Such innovations aid transport, rail, maritime, aviation, and other sectors in accomplishing their sustainability objectives.

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Which Companies Are Shaping the Future of the Gasoline Market?
Major companies operating in the gasoline market include Exxon Mobil Corporation, Shell plc, Chevron Corporation., PBF Energy Inc., Reliance Industries Limited, PetroChina Company Limited, Saudi Arabian Oil Co., China National Petroleum Corporation, BP plc, Marathon Petroleum Corporation, Valero Energy Corporation, Petróleos de Venezuela SA, Motiva Enterprises LLC, Kuwait Petroleum Corporation, Emirates National Oil Company Group, Saudi Aramco, Gazprom International Limited, TotalEnergies, Eni S.p.A., ConocoPhillips Company, Rosneft, LUKOIL Lubricants company, Phillips 66, Pemex, Indian Oil Corporation, Petronas, Sinopec, Repsol S.A., OMV AG, Hess Corporation, Occidental Petroleum Corporation, Ecopetrol S.A., Surgutneftegas, CNOOC Limited

Which Region Holds the Largest Market Share in the Gasoline Industry?
North America was the largest region in the gasoline market in 2024.Asia-Pacific is expected to be the fastest-growing region in the global gasoline market report during the forecast period. The regions covered in the gasoline market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

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This release was published on openPR.