Gasoline Market Size, Share, Growth Drivers, and Forecast Report 2025-2033
- Rahul Pal
- Jan 15
- 4 min read
Market Overview
The global gasoline market size reached USD 129.5 Billion in 2024 and is projected to reach USD 145.7 Billion by 2033, growing at a CAGR of 1.38% during 2025-2033. This growth is driven by increased vehicle ownership, urbanization, industrial activity expansion, advancements in refining technologies, and crude oil price fluctuations. North America dominated the market in 2024, with the automobile segment leading application-wise.
Study Assumption Years
Base Year: 2024
Historical Year/Period: 2019-2024
Forecast Year/Period: 2025-2033
Gasoline Market Key Takeaways
Current Market Size: USD 129.5 Billion in 2024
CAGR: 1.38% during 2025-2033
Forecast Period: 2025-2033
North America held the largest market share in 2024, supported by high vehicle ownership and strong refining infrastructure.
The market is categorized by type into regular gasoline and special gasoline, with regular gasoline favored for affordability and special gasoline driven by performance and environmental factors.
The automobile segment was the largest application, reflecting rising consumer demand linked to urbanization and income growth.
Market growth is encouraged by expansion in transportation networks and modernization in gasoline production processes.
Key players include BP plc, Chevron Corporation, Exxon Mobil, and Saudi Arabian Oil Co. (Saudi Aramco).
Sample Request Link: https://www.imarcgroup.com/gasoline-market/requestsample
Market Growth Factors
The global gasoline market is primarily stimulated by the increasing demand for efficient motor fuels worldwide. This demand is bolstered by expanding automobile sales and transportation networks. Additionally, modernization of gasoline production methods and its adoption for applications such as portable generators, landscaping equipment, and power tools significantly contribute to market growth. There is also a rising need for gasoline in power plants for industrial and power generation purposes, further supporting market expansion. Easy accessibility at numerous gas stations acts as another growth factor.
Furthermore, increasing disposable incomes, growth in automobile parts production, substantial advancements in the aviation sector, widespread use of high-end sports cars, and extensive R&D activities by industry leaders propel the market growth. These elements collectively enhance gasoline's appeal and usage across multiple sectors.
Technological advancements in refining technology and production methods improve gasoline production efficiency, making it more cost-effective and environmentally friendly. These optimizations help gasoline meet stringent environmental regulations by reducing emissions and improving its carbon footprint. The modernization aligns gasoline as a transitional fuel in the global shift toward cleaner and sustainable energy sources.
Market Segmentation
By Type:
Regular Gasoline: Popular due to affordability and wide availability. It suits a broad range of vehicles and equipment, benefiting from rising consumer preferences for fuel-efficient vehicles.
Special Gasoline: Characterized by performance enhancement and environmental considerations. These blends, often with higher octane ratings, target high-performance and luxury vehicles, supporting emissions reduction and fuel efficiency.
By Application:
Motorcycle
Automobile: Dominates the market due to rising consumer demand, urbanization, improved living standards, and regulatory trends promoting fuel efficiency and emissions reduction.
Others
Regional Insights
North America holds the largest gasoline market share in 2024, driven by high auto ownership rates, extensive transportation infrastructure, and a well-established refining complex. The United States is a leading consumer and producer, influenced by car usage and suburban commuting. Canada contributes significantly through production and exports supported by abundant natural resources. Sophisticated refining capabilities and regulatory frameworks stabilize supply and moderate price volatility, maintaining the region's dominance despite the rising adoption of electric vehicles.
Recent Developments & News
In August 2025, Nigeria's Dangote Oil Refinery announced plans to distribute diesel and gasoline nationwide using 4,000 CNG-powered tankers and over 100 support stations, aiming to reduce prices, improve rural supply, and provide credit facilities for bulk buyers.
Costco plans to open its first stand-alone gas station in June 2025 for exclusive members, with 40 fuel pumps and capacity for 9,500 vehicles daily, slated for spring 2026.
In May 2025, Aircela unveiled a U.S. machine producing fossil-free, engine-ready gasoline from ambient air, water, and renewable electricity, capturing ~10 kg CO₂ daily and yielding about one gallon of gasoline.
Chevron Corporation acquired PDC Energy in August 2023, creating the largest oil and gas company in Colorado with 600,000 acres and production of 400,000 barrels of oil daily.
In June 2023, Saudi Arabian Oil Co. (Aramco) and TotalEnergies SE got rights to build an $11-billion petrochemicals complex in Saudi Arabia.
Foresea secured a $400 million rig contract with Petrobras in September 2023.
Key Players
BP plc
Chevron Corporation
CNPC (China National Petroleum Corporation)
Exxon Mobil
Koch Industries Inc.
Lukoil
Marathon Petroleum Corporation
PBF Energy
Petrobras (Petroleo Brasileiro S.A.)
Reliance Industries Limited
Saudi Arabian Oil Co. (Saudi Aramco)
Valero
If you require any specific information that is not covered currently within the scope of the report, we will provide the same as a part of the customization.
About Us
IMARC Group is a global management consulting firm that helps the world’s most ambitious changemakers to create a lasting impact. The company provides a comprehensive suite of market entry and expansion services. IMARC offerings include thorough market assessment, feasibility studies, company incorporation assistance, factory setup support, regulatory approvals and licensing navigation, branding, marketing and sales strategies, competitive landscape and benchmarking analyses, pricing and cost research, and procurement research.
Contact Us
IMARC Group,
134 N 4th St. Brooklyn, NY 11249, USA
Email: sales@imarcgroup.com
Tel No: (D) +91 120 433 0800
United States: +1-201971-6302
Comments