Gasoline Market Trends, Share Analysis, Growth Drivers, and Forecast 2025-2033

Rahul Pal
Jan 9
4 min read

MARKET OVERVIEW

The global gasoline market size was valued at USD 129.5 Billion in 2024 and is projected to reach USD 145.7 Billion by 2033. The market is expected to grow at a CAGR of 1.38% during the forecast period of 2025 to 2033. This growth is driven by factors such as increased vehicle ownership, rapid urbanization, expansion in industrial activities, advancements in refining technologies, and crude oil price fluctuations.

STUDY ASSUMPTION YEARS

Base Year: 2024
Historical Years: 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 dominated the gasoline market in 2024, driven by high vehicle ownership rates and extensive refining infrastructure.
The automobile segment leads the market, attributed to rising consumer demand spurred by urbanization and increasing disposable incomes.
The market is segmented into regular gasoline, favored for its affordability, and special gasoline, preferred for performance and environmental benefits.
Growth is supported by rising demand in portable generators, landscaping equipment, and power tools.
Advancements in refining technology and environmental regulations are enhancing gasoline's market competitiveness.

Sample Request Link: https://www.imarcgroup.com/gasoline-market/requestsample

MARKET GROWTH FACTORS

The market for gasoline has been mainly driven by the rising global need for efficient motor fuels. The increase in the number of cars in different parts of the world and the associated transportation networks are the main reasons for the growth of the market. Gasoline's high energy density and its compatibility with internal combustion engines are among the factors that make it the most preferred fuel. The market growth is also boosted by the use of gasoline in off-road applications like portable generators, landscaping equipment, and power tools which meet different energy needs.

The modernization in gasoline production processes allows the market share to grow significantly as refining technology and production efficiency are improved. These technological developments not only make gasoline more affordable but also more environmentally friendly as they comply with regulation requirements that reduce the emission and improve the environmental footprint. This modernization strategy of the gasoline industry helps it to be a transitional energy source in the global movement towards cleaner and more sustainable fuels.

The emergence of new markets along with more money in people's pockets is driving up the use of gasoline. More activities in the industry, development of airline travel, and the love for luxury sports cars are the other factors that increase the need for gasoline. Moreover, the easy availability of gasoline due to the wide distribution networks and the placing of petroleum reserves in strategic locations not only feeds the demand but also makes the market grow steadily.

MARKET SEGMENTATION

Breakup by Type:

Regular Gasoline: This segment benefits from affordability and widespread availability, making it the preferred choice for most consumers. It is compatible with a wide range of vehicles and equipment, and rising preferences for fuel-efficient vehicles support its growth.
Special Gasoline: Catering to high-performance and luxury vehicles, this segment focuses on performance enhancement and environmental aspects. It includes specialized blends with higher octane ratings and additives for cleaner combustion, driven by stricter emissions regulations and consumer demand for cleaner fuels.

Breakup by Application:

Motorcycle
Automobile: Dominating the market in 2024, this segment is fueled by consumer demand growth due to urbanization, increasing disposable incomes, and better living standards. It also benefits from regulatory pushes for fuel efficiency and emissions reduction.
Others

REGIONAL INSIGHTS

North America holds the largest gasoline market share in 2024 due to high vehicle ownership rates, extensive transportation infrastructure, and well-established refining capacities. The United States is one of the largest global consumers and producers of gasoline, supported by suburban commuter patterns and high individual car usage. Canada contributes significantly through production and export, supported by abundant natural resources. The region's sophisticated refining capabilities and robust regulatory frameworks stabilize supply and mitigate price volatility. Despite growing EV adoption, gasoline remains dominant due to established infrastructure and ongoing economic reliance.

RECENT DEVELOPMENTS & NEWS

In August 2025, Nigeria's Dangote Oil Refinery plans to distribute diesel and gasoline nationwide using 4,000 CNG-powered tankers and over 100 support stations to reduce fuel prices and enhance rural supply.
In June 2025, Costco announced its first stand-alone gas station for members only, equipped with 40 fuel pumps, expected to open in spring 2026, servicing about 9,500 vehicles daily.
In May 2025, Aircela unveiled a U.S. machine capable of producing fossil-free, engine-ready gasoline using ambient air, water, and renewable electricity, capturing around 10 kg of CO2 per day.
In August 2023, Chevron Corporation acquired PDC Energy, becoming Colorado's largest oil and gas producer with 600,000 acres and 400,000 barrels per day output.
In June 2023, Saudi Aramco and TotalEnergies SE secured rights to build an $11-billion petrochemicals complex in Saudi Arabia.
In September 2023, Foresea secured a $400 million rig contract with Petrobras.

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.