Gasoline Market: By Type, By Application, By End-User and Region Forecast 2020-2031

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.

Gasoline Market Summary

Study Period

2025-2031

Base Year

2024

CAGR

1.3%

Largest Market

Asia Pacific

Fastest Growing Market

Africa

Gasoline Market Dynamics

Drivers

High growth in vehicle ownership in emerging economies, especially in Asia-Pacific, Latin America, and regions of Africa. With growing middle-class populations and economic growth, more people can access personal vehicles, resulting in increased gasoline consumption. India, Indonesia, and Brazil are experiencing rapid growth in vehicle sales, underpinned by increased incomes, better infrastructure, and urbanization. This increase in demand puts additional pressure on gasoline supply chains, and refiners respond by increasing production capacity and enhancing distribution networks.

In addition, government subsidies on fuel prices in certain developing countries make gasoline more affordable, further encouraging consumption. While there are long-term global trends toward sustainable mobility, the short- to mid-term trend in these markets remains gasoline-fuelled transportation. This dynamic reinforces the significance of emerging markets as central demand centers within the global gasoline economy.

Restraints

The increased demand for electric vehicles (EVs) is a major restraining influence on the market. The developments in technology, beneficial government regulations, and rising environmental concerns have boosted the uptake of EVs in developed and emerging economies. Major markets including China, the United States, and Europe are fiercely rolling out EV charging infrastructure and providing incentives like tax credits, rebates, and lower registration costs to encourage the purchase of EVs. Additionally, the reducing price of lithium-ion batteries has reduced the cost of EVs and made them more affordable and accessible to a wider population base.

As consumers and fleet operators increasingly shift towards electric mobility, the demand for gasoline is likely to reduce. A number of automobile manufacturers have also announced plans to discontinue internal combustion engine vehicles within the next decade. This policy and consumer-driven shift in transportation modes is expected to erode the share of gasoline in the world energy mix gradually, thus limiting market growth.

Opportunities

A promising opportunity for the market is through advancements in refining technology that can increase fuel efficiency and environmental conformity. New refineries are increasingly pursuing hydrocracking, catalytic reforming, and desulfurization processes that not only increase gasoline output from crude oil but also yield cleaner-burning fuel. These technological improvements allow refiners to adhere to tough environmental policies without sacrificing output levels. For example, ultra-low sulfur gasoline is becoming increasingly popular in international markets as it meets emissions regulations without compromising engine performance. Also, embedding digital technologies like AI and machine learning in refining processes enables predictive maintenance, online quality monitoring, and energy efficiency enhancements.

Such technological advancement reduces operating expenses as well as environmental impressions, thereby providing a competitive edge. As consumers and governments alike begin to favor cleaner forms of energy, refineries that can produce higher-grade, regulation-compliant gasoline will benefit enormously in terms of market share as well as profitability.

Trends

One of the most defining trends in the world market is the movement towards cleaner fuel standards fuelled by climate concerns and the threat of regulation. Around the world, governments are implementing tighter fuel quality regulations that restrict sulfur and other pollutant emissions in gasoline. This is reflected in regulations like the Euro 6 norms in Europe, Bharat Stage VI in India, and Tier 3 in the United States, each of which has a focus on curbing vehicular emissions and enhancing city air quality. The fulfillment of these norms necessitates drastic changes in refining practices and fuel blends.

Gasoline manufacturers thus find themselves concentrating more and more on the manufacture of low-emission models that comply with these standards. Concurrently, there is a shift in public attitudes towards environmental stewardship, prompting oil majors to reform their portfolio in line. The movement not only reengineers production patterns but also distorts world trade flows, with nations opting for imports of cleaner fuel grades at the expense of traditional types.

Gasoline Market Segmentation Analysis

Report Benchmarks

Details

Report Study Period

2025-2031

Market Size in 2024

US$ 129.6 billion

Market Size in 2031

US$ 141.9 billion

Market CAGR

1.3%

By Type

  • Regular Gasoline
  • Special Gasoline

By Application

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

By End-User

  • Transportation
  • Power Generation
  • Others

By Region

  • North America (U.S., Canada)
  • Europe (Germany, U.K., France, Italy, Russia, Spain, Rest of Europe)
  • Asia-Pacific (China, India, Japan, Australia, Southeast Asia, Rest of Asia Pacific)
  • Latin America (Mexico, Brazil, Argentina, Columbia, Rest of Latin America)
  • Middle East & Africa (GCC, Egypt, Nigeria, South Africa, Rest of Middle East and Africa)

Analyst Review

PBI Analysts observe that the market is undergoing a transitional phase, balancing traditional demand drivers with emerging challenges and opportunities. While consumption remains strong, particularly in developing economies across Asia-Pacific and Africa, the market faces increasing pressure from evolving environmental policies, the rise of electric vehicles, and the global push for cleaner energy alternatives. Despite these headwinds, gasoline continues to dominate the transportation sector due to its widespread availability, affordability, and compatibility with the majority of existing vehicle fleets. Industry experts also highlight the role of refining advancements and strategic investments in maintaining competitiveness.

Regions like India, China, and parts of Africa are expected to sustain demand growth in the near to mid-term. However, long-term projections indicate a gradual shift in consumption patterns as sustainability trends gain momentum. Overall, analysts view the market as resilient but increasingly shaped by regulatory reforms, technological evolution, and shifting consumer preferences toward greener transportation options.

Key Features of the Report

  • The gasoline market report provides granular level information about the Market size, regional Market share, historic Market (2020-2024), and forecast (2025-2031)
  • The report covers in-detail insights about the competitor’s overview, company share analysis, key Market developments, and key strategies.
  • The report outlines drivers, restraints, unmet needs, and trends that are currently affecting the Market.
  • The report tracks recent innovations, key developments, and start-up details that are actively working in the Market.
  • The report provides a plethora of information about Market entry strategies, regulatory framework, and reimbursement scenarios.
  • The report analyses the impact of the socio-political environment through PESTLE Analysis and competition through Porter's Five Force Analysis

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Frequently Asked Questions

The gasoline market size was valued at US$ 129.6 billion in 2024 and is projected to grow at a significant CAGR of 1.3% from 2025-2031.

Growing vehicle ownership in developing economies continues to fuel demand for gasoline globally.

The market is shifting toward cleaner fuel standards driven by environmental regulations and emissions control.

Market research is segmented based on type, application, end-use and region.

Africa’s expanding population and increasing vehicle imports are accelerating gasoline consumption across the continent.

1.Executive Summary
2.Global Gasoline Market Introduction 
2.1.Global Gasoline Market  - Taxonomy
2.2.Global Gasoline Market  - Definitions
2.2.1.Type 
2.2.2.Application
2.2.3.End-User
2.2.4.Region
3.Global Gasoline Market Dynamics
3.1. Drivers
3.2. Restraints
3.3. Opportunities/Unmet Needs of the Market
3.4. Trends
3.5. Product Landscape
3.6. New Product Launches
3.7. Impact of COVID 19 on Market
4.Global Gasoline Market Analysis, 2020 - 2024 and Forecast 2025 - 2031
4.1.  Market Analysis, 2020 - 2024 and Forecast, 2025 - 2031, (Sales Value USD Million)
4.2.  Year-Over-Year (Y-o-Y) Growth Analysis (%) 
4.3.  Market Opportunity Analysis 
5.Global Gasoline Market  By Type , 2020 - 2024 and Forecast 2025 - 2031 (Sales Value USD Million)
5.1. Regular Gasoline
5.1.1. Market Analysis, 2020 - 2024 and Forecast, 2025 - 2031, (Sales Value USD Million)
5.1.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
5.1.3. Market Opportunity Analysis 
5.2. Special Gasoline
5.2.1. Market Analysis, 2020 - 2024 and Forecast, 2025 - 2031, (Sales Value USD Million)
5.2.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
5.2.3. Market Opportunity Analysis 
6.Global Gasoline Market  By Application, 2020 - 2024 and Forecast 2025 - 2031 (Sales Value USD Million)
6.1. Transportation
6.1.1. Market Analysis, 2020 - 2024 and Forecast, 2025 - 2031, (Sales Value USD Million)
6.1.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
6.1.3. Market Opportunity Analysis 
6.2. Small Aircrafts
6.2.1. Market Analysis, 2020 - 2024 and Forecast, 2025 - 2031, (Sales Value USD Million)
6.2.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
6.2.3. Market Opportunity Analysis 
6.3. Electricity Generators
6.3.1. Market Analysis, 2020 - 2024 and Forecast, 2025 - 2031, (Sales Value USD Million)
6.3.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
6.3.3. Market Opportunity Analysis 
6.4. Recreational Vehicles
6.4.1. Market Analysis, 2020 - 2024 and Forecast, 2025 - 2031, (Sales Value USD Million)
6.4.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
6.4.3. Market Opportunity Analysis 
6.5. Others
6.5.1. Market Analysis, 2020 - 2024 and Forecast, 2025 - 2031, (Sales Value USD Million)
6.5.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
6.5.3. Market Opportunity Analysis 
7.Global Gasoline Market  By End-User, 2020 - 2024 and Forecast 2025 - 2031 (Sales Value USD Million)
7.1. Transportation
7.1.1. Market Analysis, 2020 - 2024 and Forecast, 2025 - 2031, (Sales Value USD Million)
7.1.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
7.1.3. Market Opportunity Analysis 
7.2. Power Generation
7.2.1. Market Analysis, 2020 - 2024 and Forecast, 2025 - 2031, (Sales Value USD Million)
7.2.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
7.2.3. Market Opportunity Analysis 
7.3. Others
7.3.1. Market Analysis, 2020 - 2024 and Forecast, 2025 - 2031, (Sales Value USD Million)
7.3.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
7.3.3. Market Opportunity Analysis 
8.Global Gasoline Market  By Region, 2020 - 2024 and Forecast 2025 - 2031 (Sales Value USD Million)
8.1. North America
8.1.1. Market Analysis, 2020 - 2024 and Forecast, 2025 - 2031, (Sales Value USD Million)
8.1.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
8.1.3. Market Opportunity Analysis 
8.2. Europe
8.2.1. Market Analysis, 2020 - 2024 and Forecast, 2025 - 2031, (Sales Value USD Million)
8.2.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
8.2.3. Market Opportunity Analysis 
8.3. Asia Pacific (APAC)
8.3.1. Market Analysis, 2020 - 2024 and Forecast, 2025 - 2031, (Sales Value USD Million)
8.3.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
8.3.3. Market Opportunity Analysis 
8.4. Middle East and Africa (MEA)
8.4.1. Market Analysis, 2020 - 2024 and Forecast, 2025 - 2031, (Sales Value USD Million)
8.4.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
8.4.3. Market Opportunity Analysis 
8.5. Latin America
8.5.1. Market Analysis, 2020 - 2024 and Forecast, 2025 - 2031, (Sales Value USD Million)
8.5.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
8.5.3. Market Opportunity Analysis 
9.North America Gasoline Market ,2020 - 2024 and Forecast 2025 - 2031 (Sales Value USD Million)
9.1. Type  Analysis 2020 - 2024 and Forecast 2025 - 2031 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
9.1.1.Regular Gasoline
9.1.2.Special Gasoline
9.2.  Application Analysis 2020 - 2024 and Forecast 2025 - 2031 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
9.2.1.Transportation
9.2.2.Small Aircrafts
9.2.3.Electricity Generators
9.2.4.Recreational Vehicles
9.2.5.Others
9.3.  End-User Analysis 2020 - 2024 and Forecast 2025 - 2031 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
9.3.1.Transportation
9.3.2.Power Generation
9.3.3.Others
9.4.  Country Analysis 2020 - 2024 and Forecast 2025 - 2031 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
9.4.1.United States of America (USA)
9.4.2.Canada
10.Europe Gasoline Market ,2020 - 2024 and Forecast 2025 - 2031 (Sales Value USD Million)
10.1. Type  Analysis  and Forecast  by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
10.1.1.Regular Gasoline
10.1.2.Special Gasoline
10.2.  Application Analysis 2020 - 2024 and Forecast 2025 - 2031 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
10.2.1.Transportation
10.2.2.Small Aircrafts
10.2.3.Electricity Generators
10.2.4.Recreational Vehicles
10.2.5.Others
10.3.  End-User Analysis 2020 - 2024 and Forecast 2025 - 2031 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
10.3.1.Transportation
10.3.2.Power Generation
10.3.3.Others
10.4.  Country Analysis 2020 - 2024 and Forecast 2025 - 2031 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
10.4.1.Germany
10.4.2.France
10.4.3.Italy
10.4.4.United Kingdom (UK)
10.4.5.Spain
11.Asia Pacific (APAC) Gasoline Market ,2020 - 2024 and Forecast 2025 - 2031 (Sales Value USD Million)
11.1. Type  Analysis  and Forecast  by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
11.1.1.Regular Gasoline
11.1.2.Special Gasoline
11.2.  Application Analysis 2020 - 2024 and Forecast 2025 - 2031 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
11.2.1.Transportation
11.2.2.Small Aircrafts
11.2.3.Electricity Generators
11.2.4.Recreational Vehicles
11.2.5.Others
11.3.  End-User Analysis 2020 - 2024 and Forecast 2025 - 2031 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
11.3.1.Transportation
11.3.2.Power Generation
11.3.3.Others
11.4.  Country Analysis 2020 - 2024 and Forecast 2025 - 2031 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
11.4.1.China
11.4.2.India
11.4.3.Australia and New Zealand (ANZ)
11.4.4.Japan
11.4.5.Rest of APAC
12.Middle East and Africa (MEA) Gasoline Market ,2020 - 2024 and Forecast 2025 - 2031 (Sales Value USD Million)
12.1. Type  Analysis  and Forecast  by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
12.1.1.Regular Gasoline
12.1.2.Special Gasoline
12.2.  Application Analysis 2020 - 2024 and Forecast 2025 - 2031 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
12.2.1.Transportation
12.2.2.Small Aircrafts
12.2.3.Electricity Generators
12.2.4.Recreational Vehicles
12.2.5.Others
12.3.  End-User Analysis 2020 - 2024 and Forecast 2025 - 2031 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
12.3.1.Transportation
12.3.2.Power Generation
12.3.3.Others
12.4.  Country Analysis 2020 - 2024 and Forecast 2025 - 2031 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
12.4.1.GCC Countries
12.4.2.South Africa
12.4.3.Rest of MEA
13.Latin America Gasoline Market ,2020 - 2024 and Forecast 2025 - 2031 (Sales Value USD Million)
13.1. Type  Analysis  and Forecast  by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
13.1.1.Regular Gasoline
13.1.2.Special Gasoline
13.2.  Application Analysis 2020 - 2024 and Forecast 2025 - 2031 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
13.2.1.Transportation
13.2.2.Small Aircrafts
13.2.3.Electricity Generators
13.2.4.Recreational Vehicles
13.2.5.Others
13.3.  End-User Analysis 2020 - 2024 and Forecast 2025 - 2031 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
13.3.1.Transportation
13.3.2.Power Generation
13.3.3.Others
13.4.  Country Analysis 2020 - 2024 and Forecast 2025 - 2031 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
13.4.1.Brazil
13.4.2.Mexico
13.4.3.Rest of LA
14. Competition Landscape
14.1.  Market Player Profiles (Introduction, Brand/Product Sales, Financial Analysis, Product Offerings, Key Developments, Collaborations, M & A, Strategies, and SWOT Analysis) 
14.2.1.Saudi Aramco
14.2.2.Sinopec
14.2.3.PetroChina Co., Ltd.
14.2.4.ExxonMobil Corporation
14.2.5.Shell plc
14.2.6.Chevron Corporation
14.2.7.BP plc
14.2.8.TotalEnergies SE
14.2.9.Marathon Petroleum Corporation
14.2.10.Valero Energy Corporation
15. Research Methodology 
16. Appendix and Abbreviations 

Key Market Players

  • Saudi Aramco
  • Sinopec
  • PetroChina Co., Ltd.
  • ExxonMobil Corporation
  • Shell plc
  • Chevron Corporation
  • BP plc
  • TotalEnergies SE
  • Marathon Petroleum Corporation
  • Valero Energy Corporation

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