The latest report published by IMARC Group, titled “Gasoline Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027,” offers a comprehensive analysis of the industry, which comprises insights on gasoline market report. The report also includes competitor and regional analysis, and contemporary advancements in the global market. The global gasoline market is expected to exhibit a CAGR of 1.60% during 2022-2027.
Gasoline refers to a petroleum by-product composed of a mixture of aromatic and liquid aliphatic hydrocarbons. It is generally extracted during petroleum refining, which includes isomerization, aromatization, and distillation of crude petroleum oil. It is characterized by a translucent color, a signature gassy odor and high flammability. It is widely utilized as a transportation fuel for propeller aircraft, maritime vessels, spark-ignited internal combustion engines and recreational vehicles. It is a commonly preferred fuel used in automobiles due to its several benefits, including high acceleration, an improved burning rate, and less noise output.
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The coronavirus disease (COVID-19) outbreak and the subsequent enactment of mandatory lockdown restrictions had negatively impacted the global gasoline market. Oil and gas companies’ revenue declined due to an unexpected lockdown implementation across numerous countries. The significant reduction in traffic volumes on the roads resulted in reduced demand for petroleum-based products, thereby affecting the overall oil and gas market. Additionally, augmenting crude oil prices due to the disruptions in the supply chain and shortage hindered the market growth. However, the market has regained its momentum with increasing demand for petroleum products and the growing natural gas pipeline capacity.
Rapid urbanization across the globe majorly drives the market. This is attributed to the proliferating transportation mediums on account of the rising spending by public and private agencies on infrastructural development projects. Additionally, the increasing manufacturing and selling of automobiles due to the inflating disposable income levels of individuals raising the need for efficient motor fuels globally. Along with this, the escalating deployment of gasoline in power plants for power generation and various industrial applications is significantly supporting the market growth. Moreover, the continual technological advancements in gasoline production and its increasing utilization in numerous appliances, such as landscaping equipment, power tools, and portable generators, are creating a positive market outlook. Other factors driving the market further include the emerging automobile industry and extensive research and development (R&D) activities conducted by key players.
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Competitive Landscape with Key players:
The report has also analysed the competitive landscape of the market with some of the key players being.
- BP plc
- Chevron Corporation
- Exxon Mobil
- Koch Industries Inc.
- Marathon Petroleum Corporation
- PBF Energy
- Reliance Industries Limited
- Saudi Arabian Oil Co.
Gasoline Market Segmentation:
Our report has categorized the market based on region, type and application.
Breakup by Type:
- Regular Gasoline
- Special Gasoline
Breakup by Application:
Breakup by Region:
- North America (United States, Canada)
- Europe (Germany, France, United Kingdom, Italy, Spain, Others)
- Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)
Key highlights of the report:
- Market Performance (2016-2021)
- Market Outlook (2022-2027)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
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