“The Road Transportation Fuel Market is poised to grow by USD 192.84 billion during 2022-2026, accelerating at a CAGR of 1.87% during the forecast period”
Technavio market report provides a holistic analysis, market size and forecast, trends, growth drivers, challenges, and vendor analysis covering around 15 vendors. The road transportation fuel market has been broadly categorized into the following demographic segmentations:
- End-user - Gasoline, diesel, biofuels, and natural gas
- Geography - APAC, North America, Europe, Middle East and Africa, and South America
The market report also offers information on several market vendors, including Acciona SA, AVRIL SCA, Bharat Petroleum Corp. Ltd., BP Plc, Chevron Corp., China Petrochemical Corp., Chubb Ltd., CNG Fuels Ltd., Dangote Industries Ltd., Eni Spa, Equinor ASA, Exxon Mobil Corp., Green Plains Inc., Hindustan Petroleum Corp. Ltd., Indian Oil Corp. Ltd., Kuwait National Petroleum Co., PJSC LUKOIL, Reliance Industries Ltd., Shell plc, and TotalEnergies SE among others.
What will the Road Transportation Fuel Market Size be During the Forecast Period?

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Parent Market Analysis
Our Technavio Research categorizes the report belonging to Oil, Gas and Consumable Fuels Industry for the market. Technavio is based on four simple principles: easy-to-access reports, robust industry coverage, a focus on new and emerging technologies, and competitive pricing. We believe in helping companies and executives become better equipped to make faster, sounder, and more effective decisions.
Road Transportation Fuel Market: Key Drivers, Trends, and Challenges
Technavio Research categorizes the global Road Transportation Fuel Market belonging to the Energy Industry. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic's impact on the industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.
Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the forecast year.
The market is extremely competitive with all sizes of businesses, including large, medium, and small-sized companies vying to monopolize the market. The tremendous development in various fields such as product innovations and new product launches by manufacturers operating in the market will drive the growth further.
Key Road Transportation Fuel Market Driver
- The growth in the number of automobiles on roads is one of the key drivers supporting the road transportation fuel market growth.
- Automobiles have become a necessity as they act as bridges to connect people and enable the transportation of goods and services. They are mostly used for transporting people from one place to another.
- Increasing population and urbanization across the globe have a positive impact on the infrastructure development of the transportation sector, which encourage automobile companies to produce more vehicles.
- Many automobile manufacturers are entering new geographies by launching attractive vehicle models. For instance, Tesla, Citroen, and Great Wall Motor are also planning to enter the Indian automotive market by launching their respective car models in the upcoming year.
- The growth of the automobile sector will spur demand for transportation fuel. Therefore, growing automobile production volumes and players entering new markets will spur demand for road transportation fuel and support the growth of the market during the forecast period.
Key Road Transportation Fuel Market Trend
- The adoption of bio-based and clean fuels is one of the key road transportation fuel market trends contributing to the market growth.
- The combustion of transportation fuels derived from fossil fuels is contributing significantly to global CO2 emissions, thereby increasing greenhouse gas effects. However, biofuels are especially used to reduce vehicle emissions.
- Biofuels are usually mixed with fossil fuels and used as additives. The most commonly used biofuel in vehicles is ethanol and biomass-based diesel.
- According to the US EIA, biomass-based diesel production in the US is expected to grow to 160,000 BPD in 2020 from 120,000 BPD in 2018. Diesel fuel consumption in the US, which includes biomass-based diesel, is expected to grow to 3.9 million BPD in 2020 from 3.8 million BPD in 2018 amid growing consumption as a blend in diesel fuel. Thus, increased consumption of biofuels in vehicles will boost the global road transportation fuel market during the forecast period.
Key Road Transportation Fuel Market Challenge
- Fluctuations in global oil and gas prices is one of the factors challenging the road transportation fuel market growth.
- The price of crude oil keeps fluctuating constantly and is negatively impacted by several factors such as supply and demand, organizational influences, and changes in production cost.
- The oversupply of crude oil from oil-producing nations or the subdued demand for crude oil on account of declining consumption can cause a steep fall in oil prices.
- The COVID-19 pandemic negatively impacted crude oil prices in 2020. According to The World Bank Group, the global average crude oil price in July 2020 was $42.1/bbl, which was significantly low compared with the average of $61.4/bbl in 2019.
- Fluctuations in crude oil prices affect the profit margins and revenues of refineries, which is a challenge for refinery operators globally. This, in turn, will limit the road transportation fuel market growth during the forecast period.
Who are the Major Road Transportation Fuel Market Vendors?
The vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading market vendors such as
- Acciona SA
- AVRIL SCA
- Bharat Petroleum Corp. Ltd.
- BP Plc
- Chevron Corp.
- China Petrochemical Corp.
- Chubb Ltd.
- CNG Fuels Ltd.
- Dangote Industries Ltd.
- Eni Spa
- Equinor ASA
- Exxon Mobil Corp.
- Green Plains Inc.
- Hindustan Petroleum Corp. Ltd.
- Indian Oil Corp. Ltd.
- Kuwait National Petroleum Co.
- PJSC LUKOIL
- Reliance Industries Ltd.
- Shell plc
- TotalEnergies SE
Market Overview
The global oil and gas refining and marketing market covers companies engaged in the refining and marketing of oil, gas, and refined products. The oil and gas downstream or refining and marketing market are one of the three linkages in the complete oil and gas value chain. Technavio calculates the global oil and gas refining and marketing market size based on combined revenue generated by manufacturers/providers of oil, gas, refined products, and services.
Road Transportation Fuel Market Value Chain Analysis
In this report, we provide extensive information on the value chain analysis for the market. Our data covers all key stages of a market flow and provides a complete understanding of all aspects of the market logistics value chain. This includes an end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies.
Which are the Key Regions for Road Transportation Fuel Market?

50% of the market’s growth will originate from APAC during the forecast period. China and Japan are the key markets for the road transportation fuel market in APAC. Market growth in this region will be faster than the growth of the market in other regions.
Economic growth in India, China, and other developing countries is helping expand the middle-class population segment. The road transportation sector is a crucial driver of social development in a country's economy, as it acts as a bridge in connecting people to education, jobs, and healthcare services. India and China are two of the most populated countries in the world, and road transportation plays a vital role in driving the economic growth of these countries. Most road freight activities are carried out in developing countries such as India and China. According to the IEA, India and China will account for 90% of the growth in road freight fuel demand in 2050 from 2017 levels.India was the second-largest oil refiner in Asia in 2021, with a capacity of nearly 18% of APAC total refining capacity. For promoting the availability of road transportation fuel, Indian Oil, HPCL, and Bharat Petroleum signed a joint venture agreement in June 2017 to build one of the largest greenfield refineries in the world by the end of 2022. Such developments in refining capacities will drive the growth of the regional road transportation fuel market during the forecast period
What are the Revenue-generating End-user Segments in the Road Transportation Fuel Market?

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The road transportation fuel market share growth by the gasoline segment will be significant during the forecast period. The consumption of gasoline depends on the number of passenger cars and light trucks in operation. Urbanization and an increase in disposable income enhance the adoption rate of passenger vehicles. According to The World Bank Group, the global annual growth in gross domestic product per capita was 11.9% in 2020 compared to 2010. This indicates an increase in the purchasing power of people. Also, with rapid urbanization, road networks are expanded and modernized. These factors help increase the adoption of passenger cars and light trucks. Passenger car production volumes grew by 9.67% in 2021 compared to 2020. The demand for gasoline in growing economies such as India is increasing rapidly, and the number of fueling stations catering to this rising demand is also going up. With vehicle numbers increasing along with the number of fuel refilling stations, the demand for gasoline as a road transportation fuel will get stronger and promote the growth of the market in focus during the forecast period.
The report provides a near-term to long-term perspective on the trends and forecasts horizon for the market. It offers an overview of the key market drivers and restraints, enabling precise identification of key regional opportunities over the coming years.
Road Transportation Fuel Market Scope
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Report Coverage
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Details
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Page number
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120
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Base year
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2021
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Forecast period
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2022-2026
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Growth momentum & CAGR
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Accelerate at a CAGR of 1.87%
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Market growth 2022-2026
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$ 192.84 billion
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Market structure
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Fragmented
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YoY growth (%)
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1.52
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Regional analysis
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APAC, North America, Europe, Middle East and Africa, and South America
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Performing market contribution
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APAC at 50%
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Key consumer countries
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US, Canada, China, Japan, Germany, France, US, Canada, China, Japan, Germany, France, US, Canada, China, Japan, Germany, and France
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Competitive landscape
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Leading companies, Competitive Strategies, Consumer engagement scope
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Key companies profiled
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Acciona SA, AVRIL SCA, Bharat Petroleum Corp. Ltd., BP Plc, Chevron Corp., China Petrochemical Corp., Chubb Ltd., CNG Fuels Ltd., Dangote Industries Ltd., Eni Spa, Equinor ASA, Exxon Mobil Corp., Green Plains Inc., Hindustan Petroleum Corp. Ltd., Indian Oil Corp. Ltd., Kuwait National Petroleum Co., PJSC LUKOIL, Reliance Industries Ltd., Shell plc, and TotalEnergies SE
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Market dynamics
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Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period
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Customization purview
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If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.
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Request PDF sample
What are the Key Data Covered in this Road Transportation Fuel Market Report?
- CAGR of the market during the forecast period 2022-2026
- Detailed information on factors that will drive the growth during the next five years
- Precise estimation of the size and its contribution to the parent market
- Accurate predictions on upcoming trends and changes in consumer behaviour
- The growth of the industry across APAC, North America, Europe, Middle East and Africa, and South America
- A thorough analysis of the market’s competitive landscape and detailed information on vendors
- Comprehensive details of factors that will challenge the growth of road transportation fuel market vendors
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