Gasoline Market Size, Share, Growth, Trends, and Global Industry Analysis: By Type (Regular Gasoline, Special Gasoline), By Application (Transportation, Small Aircrafts, Electricity Generators, Recreational Vehicles, Others), By End-User (Transportation, Power Generation, Others) and Region Forecast 2020-2031

Gasoline Market size was valued at US$ 129.6 billion in 2024 and is expected to reach US$ 141.9 billion by 2031, growing at a significant CAGR of 1.3% from 2025-2031. Moreover, the U.S. Gasoline Market is projected to grow at 1.2% CAGR over forecast period. The market encompasses the production, distribution, and consumption of gasoline, a refined petroleum product primarily used as fuel for internal combustion engines in vehicles. This market includes upstream activities such as crude oil extraction, midstream refining processes to produce gasoline, and downstream segments involving retail and commercial distribution. The market is influenced by factors such as crude oil prices, environmental regulations, vehicle engine technologies, and regional demand patterns.

The global market has experienced significant fluctuations due to evolving energy policies, shifting consumer preferences, and geopolitical dynamics. While demand remains strong in developing regions owing to increased vehicle ownership and industrial growth, developed markets are witnessing a gradual decline in gasoline consumption due to stricter emissions standards and the rising adoption of electric vehicles. Despite these changes, gasoline continues to hold a critical position in the global energy mix, supported by robust refining infrastructure and ongoing investments in fuel efficiency technologies.

Facts & Figures

• In 2022, the United States consumed approximately 135.73 billion gallons of gasoline, averaging about 368.63 million gallons per day. Notably, light-duty vehicles—such as cars, SUVs, and small trucks—accounted for about 91% of this gasoline consumption. ?
• India's fuel consumption in December 2024 reached 20.67 million metric tons, marking a 2.1% increase compared to the same month in 2023. Gasoline sales specifically rose by 10.8% year-on-year to 3.3 million tons, reflecting the country's growing transportation needs.
• The U.S. Energy Information Administration (EIA) reported that planned closures of two U.S. refineries in 2024 would reduce the country's refining capacity to 17.94 million barrels per day by the end of the year, the lowest since June 2022.

Key Developments:

• In April 2025, the U.S. Environmental Protection Agency (EPA) issued an emergency waiver permitting the nationwide sale of E15 gasoline, a blend containing 15% ethanol during the summer months, a period when such sales are typically restricted due to smog concerns. This decision aims to provide consumers with more affordable fuel options, as E15 is generally at least 10 cents cheaper per gallon than traditional E10 gasoline.
• In December 2024, OPEC+ decided to extend its 2 million barrels per day (bpd) production cut until the end of 2026. Additionally, several member countries, including Saudi Arabia and Russia, agreed to voluntary cuts totaling 2.2 million bpd until March 2025. These measures aim to stabilize global oil markets amid fluctuating demand and supply dynamics.

Gasoline Market Segmentation:

Based on the type:

• Regular Gasoline
• Special Gasoline

The Regular gasoline is expected to dominate the market by type, fuelled mostly by its ubiquitous use and affordability. It continues to be the preferred option for the majority of cars around the world, especially in emerging and price-sensitive economies where high-end fuels are an indulgence. The prevalence of cars engineered to perform optimally on conventional octane levels also adds strength to its market dominance. Besides that, the wide presence of regular gasoline on most retail fuel stations and its suitability with aging fleets of vehicles guarantees stable demand. Since countries will continue to emphasize affordability and availability, regular gasoline has a firm standing in the world market.

Based on the application:

• Transportation
• Small Aircrafts
• Electricity Generators
• Recreational Vehicles
• Others

Transportation is expected to be the largest application segment in the worldwide market, led by the sheer worldwide reliance on gasoline-fueled vehicles. Even with the growth of electric mobility, most of the worldwide vehicle fleet—especially in the developing world—remains fueled by internal combustion engines. Urbanization, economic expansion, and growing automobile ownership in India, Indonesia, and Brazil further buttress this demand. Public and commercial transportation networks, such as buses, taxis, and delivery fleets, also make a large contribution. With increasing road network and low EV penetration in most parts of the world, transportation remains the driving force behind gasoline demand globally.

Based on the data end-use:

• Transportation
• Power Generation
• Others

Transportation is anticipated to remain the dominant end-use segment in the market, driven by the widespread reliance on gasoline-powered vehicles for both personal and commercial mobility. In most countries, especially across Asia, Africa, and Latin America, internal combustion engine vehicles constitute the majority of the transportation fleet. Rising urban populations, economic development, and increasing disposable incomes are accelerating vehicle ownership, which directly fuels gasoline demand. Additionally, gasoline remains a preferred energy source for two-wheelers, cars, and light-duty trucks due to its availability and established distribution infrastructure. These factors collectively reinforce transportation as the leading end-use driver of gasoline consumption globally.