Global fuel market is majorly dominated by fossil fuels such as diesel, gasoline, kerosene, LPG, coal tar, ethanol, natural gas, among others. Fuel is retailed to consumers through gas and petrol stations. Globally, there are approximately 700,000 stations selling more than 300 billion gallons diesel and gasoline fuels a year. The industry is basically dominated by national oil companies and big corporations. Fuel retailing industry operates through indirect operations model, where operator operates fuel retailing center under a big brand name through licensing or franchise. Economic uncertainties are looming oil and gas industry the most because of which companies are focusing on cost reduction initiatives. Additionally, growing unbranded fuel retails and hypermarkets have increased competition in the industry.
Natural gas (CNG and LPG) refuelling stations are anticipated to grow significantly as an alternative fuel to petrol. Natural gas refuelling stations are similar to gasoline and diesel fuelling stations and are segmented into two types, fast-fill and time-fill. However, the development of new refuelling stations is highly dependent on government incentives and number of vehicles running on gas. There is some reluctance from consumers to buy gas vehicle without availability of gas stations.
In addition, demand for high performance fuel additives is also growing. High performance fuel additives increase performance and reduces overall maintenance cost of the vehicles. North America is the largest market for high-performing fuel additives, controlling more than 35% of the total global share.
Like other industries, fuel and retailing is also exposed to various technological innovations. Mobile payment has emerged as a new fuel retail payment technology, which facilitates mobile payment at fuel filling stations. Transitioning from petroleum filling to gas refuelling stations, now the fuel market is gearing up for electrical vehicle charging stations, which are mainly driven by growing electrical vehicles supported by growing initiatives to reduce carbon emissions.
ASDReport.com has a good coverage on fuel & retailing sector. The reports cover various types of fuels and fuels additives like, heavy duty diesel, jet fuel additives, among others.