Gasoline fell to 1.86 USD/Gal on December 2, 2025, down 0.53% from the previous day. Over the past month, Gasoline's price has fallen 2.79%, and is down 4.95% compared to the same time last year, according to trading on a contract for difference (CFD) that tracks the benchmark market for this commodity. Gasoline - values, historical data, forecasts and news - updated on December of 2025.

Monthly and long-term diesel price data (NULL): historical series and analyst forecasts curated by FocusEconomics.

The price of gas in the United Kingdom was *** British pence per therm in the fourth quarter of 2024. It is anticipated gas prices will increase to *** pence in the second quarter of 2025 before gradually falling to just under ** pence by the second quarter of 2027.
Surging energy costs and the cost of living crisis At the height of the UK's cost of living crisis in 2022, approximately ** percent of UK households were experiencing rising prices compared with the previous month. It was during 2022 that the UK's CPI inflation rate reached a peak of **** percent, in October of that year. Food and energy, in particular, were the main drivers of inflation during this period, with energy inflation reaching **** percent, and food prices increasing by **** percent at the height of the crisis. Although prices fell to more expected levels by 2024, an uptick in inflation is forecast for 2025, with prices rising by *** percent in the third quarter of the year. Global Inflation Crisis The UK was not alone in suffering rapid inflation during this time period, with several countries across the world experiencing an inflation crisis. The roots of the crisis began as the global economy gradually emerged from the COVID-19 pandemic in 2021. Blocked-up supply chains, struggled to recover as quickly as consumer demand, with food and energy prices also facing upward pressure. Russia's invasion of Ukraine in February 2022 led to Europe gradually weening itself of cheap Russian energy exports, while for several months Ukraine struggled to export crucial food supplies to the rest of the World.

Gasoline Prices in the United States remained unchanged at 0.81 USD/Liter in November. This dataset provides the latest reported value for - United States Gasoline Prices - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.

Retail price of diesel fuel for private cars in the United Kingdom are estimated to continuously increase from 119.4 to 144.2 British pence per liter, respectively between 2020 and 2035.

The global unleaded gasoline market is a significant sector within the energy industry, exhibiting robust growth potential. While precise market size figures for 2025 are not provided, considering typical market sizes for similar energy commodities and applying a reasonable CAGR (let's assume a CAGR of 3% based on industry trends for the period 2019-2024), a 2025 market size of approximately $750 billion USD is plausible. This projection is based on an estimation and should be verified with updated market research data. The market's growth is primarily driven by the continued reliance on gasoline-powered vehicles, particularly in developing economies experiencing rapid motorization. Increasing urbanization and expanding middle classes in these regions are fueling demand for personal transportation, thus driving up unleaded gasoline consumption. However, the shift towards electric vehicles (EVs) and stricter environmental regulations present significant restraints on long-term growth. Government initiatives promoting renewable energy sources and improved fuel efficiency standards are also factors impacting market dynamics. The market is segmented by gasoline type (regular, special) and application (automobile, motorcycle, others). Major players like Saudi Aramco, ExxonMobil, and Sinopec dominate the global production and distribution landscape, but emerging market producers are also gaining traction. The forecast period (2025-2033) will likely see a complex interplay between these factors. While the short-term outlook remains positive, driven by existing infrastructure and established consumption patterns, the long-term trajectory will significantly depend on the pace of EV adoption and the effectiveness of governmental policies aimed at reducing carbon emissions. Regional variations are expected, with mature markets in North America and Europe potentially exhibiting slower growth compared to rapidly developing economies in Asia-Pacific and parts of Africa. Continued geopolitical instability and fluctuations in crude oil prices will further influence the market's overall trajectory. The CAGR for the forecast period (2025-2033) might show a gradual decline, potentially settling around 2-2.5% due to the aforementioned restraints. A more precise CAGR can only be determined by utilizing the complete market research data containing accurate values for the study period. This report provides a detailed analysis of the global unleaded gasoline market, examining production volumes exceeding 90 million barrels per day, consumption patterns, key players, and future growth prospects. The analysis incorporates data from major oil-producing and consuming nations, offering insights into regional variations and market dynamics. This report is essential for industry stakeholders, investors, and policymakers seeking a comprehensive understanding of this critical energy sector.

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US Gasoline Market Size 2023-2027

The US gasoline market size is forecast to decrease by -258 mn L, at a CAGR of -4.18% between 2022 and 2027.

The Gasoline Market in the US is driven by the increasing number of automobiles and the rise in oil and gas production. These factors contribute to the market's growth, as the demand for gasoline continues to escalate. However, the market faces challenges due to the fluctuation in prices of gasoline. This volatility can significantly impact market dynamics, making it essential for companies to navigate these price swings effectively. The oil industry's production levels, geopolitical tensions, and economic conditions are key factors influencing gasoline prices.
To capitalize on market opportunities and mitigate challenges, companies must adopt strategic initiatives such as price differentiation, supply chain optimization, and innovation in fuel efficiency technologies. By staying agile and responsive to market trends and price fluctuations, market participants can effectively position themselves for long-term success in the Gasoline Market.

What will be the size of the US Gasoline Market during the forecast period?

Explore in-depth regional segment analysis with market size data - historical 2017-2021 and forecasts 2023-2027 - in the full report.
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The gasoline market in the US is influenced by various factors, including the composition of gasoline, energy policy impact, fuel additives chemistry, and fuel demand forecasting. The refining process of crude oil plays a significant role in producing high-quality gasoline that meets consumer preferences and regulatory requirements. Gasoline pricing models are shaped by the cost of crude oil, production process, and fuel market analysis. Fuel blending technology and gasoline quality assurance are crucial in optimizing engine performance and reducing emissions. Innovations in engine performance optimization and emissions reduction technologies continue to shape the gasoline industry. Fuel efficiency optimization and fuel policy analysis are essential in assessing the environmental impact of gasoline use.
The future of gasoline involves research into fuel alternatives, such as renewable fuels, and the development of new testing methods for fuel quality assessment. The use of fuel additives and their chemistry plays a vital role in enhancing fuel performance and reducing emissions. The gasoline industry remains dynamic, with ongoing efforts to improve fuel production processes and respond to changing consumer preferences and regulatory requirements.

How is this market segmented?

The market research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD mn L' for the period 2023-2027, as well as historical data from 2017-2021 for the following segments.

Type

  Regular
  Premium


End-user

  Transportation
  Power generation
  Others


Geography

  North America

    US

By Type Insights

The regular segment is estimated to witness significant growth during the forecast period.

The US gasoline market is a significant sector within the global energy industry, shaped by various factors including consumer behavior, climate change, and technological advancements. Regular gasoline, a hydrocarbon mixture derived from crude oil, is the most commonly used fuel for standard internal combustion engines. It typically contains around 10% ethanol for octane enhancement, with an octane rating of 87 or 88. Higher-performance engines may require higher-octane fuels to prevent engine damage from knocking or pinging. The petroleum industry's refining process produces regular gasoline, which is distributed through an extensive pipeline infrastructure to retailers. Gasoline retailing involves marketing and selling the fuel to consumers, with prices influenced by factors such as crude oil prices, taxes, and regional variations.

Government regulations play a crucial role in the gasoline market, with emissions standards and fuel efficiency requirements driving innovation in fuel technology. Alternative fuels, such as ethanol blends, renewable fuels, and electric vehicles, are gaining popularity due to their environmental benefits and potential to reduce carbon emissions. Fuel efficiency standards, such as Corporate Average Fuel Economy (CAFE) regulations, have led to advancements in engine performance and fuel economy. Fuel additives, including biofuel additives and octane enhancers, are used to improve fuel quality and performance. Geopolitical influences and fuel volatility can impact the gasoline market, with supply chain disruptions and price fluctuations affecting both domestic and international markets.

The energy sector's transition towards sustainable fuels and decarbonization is also shaping the future of the gasoline market. Regular gasoline remains widely available and affordable,

The global diesel market, valued at $1,025.2 million in 2025, is projected to experience steady growth, driven primarily by the continued reliance on diesel fuel in heavy-duty transportation, construction, and agriculture. The 4.4% CAGR indicates a consistent expansion throughout the forecast period (2025-2033). While the transition towards electric and alternative fuel vehicles presents a long-term restraint, the robust demand from developing economies, particularly in Asia and Africa, where infrastructure development and industrialization are accelerating, will continue to support market growth. Furthermore, advancements in diesel engine technology focusing on improved fuel efficiency and reduced emissions are mitigating some environmental concerns and extending the lifespan of diesel's dominance in certain sectors. The market segmentation, while not explicitly provided, can be reasonably inferred to include categories based on fuel type (e.g., ultra-low sulfur diesel), application (e.g., on-road, off-road), and end-user (e.g., commercial vehicles, power generation). Major players like BP, Shell, CNPC, ExxonMobil, Sinopec, Indian Oil, Total, Pertamina, Chevron, and Petronas, are expected to continue shaping market dynamics through strategic partnerships, technological innovations, and global expansion initiatives. The competitive landscape is characterized by a mix of established multinational corporations and national oil companies. These companies are actively involved in optimizing their refining processes to meet evolving emission standards and consumer demands. The market's future trajectory hinges on several factors, including government regulations related to emissions, fluctuating crude oil prices, and the pace of adoption of alternative fuels. Despite the headwinds from environmental concerns and technological advancements, the substantial and persistent demand for diesel in numerous industrial and transportation sectors ensures a considerable market size throughout the forecast period, with continued growth potential in emerging economies.

Retail Fuel Market size was valued at USD 3.5 Billion in 2024 and is projected to reach USD 5.3 Billion by 2032, growing at a CAGR of 6.1% during the forecasted period 2026 to 2032Global Retail Fuel Market DriversThe retail fuel market, a critical component of the global energy supply chain, is currently experiencing dynamic growth and transformation. This momentum is not solely reliant on crude oil price fluctuations but is increasingly being shaped by macroeconomic shifts, consumer behavioral trends, and technological innovation. Understanding these core drivers is essential for stakeholders looking to navigate and capitalize on the sector's evolution into comprehensive mobility and convenience hubs.Rising Vehicle Ownership and Expanding Automotive Fleet: The primary and most fundamental driver of the retail fuel market is the global expansion of the automotive fleet, particularly in rapidly emerging economies across Asia-Pacific and Latin America. As middle classes swell and disposable incomes rise in these regions, millions of new passenger and commercial vehicles are added to the roads annually, directly translating into a corresponding surge in demand for gasoline and diesel. This growth creates a vast, consistently expanding customer base for fuel retailers and necessitates the strategic placement and continuous expansion of fuel station networks, securing long-term volume stability for the market despite efficiency gains in modern engine technology.Increasing Urbanization and Infrastructure Development: Rapid global urbanization and massive government investment in transportation infrastructure serve as a critical accelerator for retail fuel demand. The construction of new highways, expressways, and smart city projects not only requires commercial vehicle fleets for building but also increases the average commuting distance for millions of urban and suburban residents.

The global retail fuel market, encompassing natural gas, diesel, furnace oil, jet fuel, and other fuel types, is experiencing robust growth driven by increasing industrialization, rising energy demands from burgeoning populations, and expanding transportation sectors. The market's segmentation by fuel type and application highlights the diverse nature of its demand drivers. Natural gas, propelled by its cleaner-burning profile and increasing government incentives, is anticipated to witness significant growth, particularly in the power and industrial sectors. Diesel fuel remains a dominant player in the transportation segment, although stricter emission regulations are gradually shaping its trajectory. The aviation sector, while currently experiencing fluctuations due to global events, is expected to exhibit long-term growth alongside the wider travel and tourism industry. High-sulfur furnace oil, while facing environmental challenges, maintains a presence in heavy industries. Regional disparities exist, with developed economies in North America and Europe showing comparatively slower, yet stable growth due to established infrastructure, while developing nations in Asia-Pacific, particularly India and China, exhibit higher growth rates due to rapid infrastructure development and industrial expansion. Competition among major players like Bangladesh Petroleum Corporation, Petrobangla, and Chevron Corporation is intensifying, resulting in strategic partnerships and investments in refining and distribution networks. Challenges such as fluctuating crude oil prices, geopolitical instability, and stringent environmental regulations will significantly influence market growth throughout the forecast period (2025-2033). The forecast period of 2025-2033 anticipates a continued expansion of the retail fuel market. However, the specific CAGR will be influenced by a number of interacting factors including global economic growth, technological advancements in fuel efficiency and alternative energy sources, and governmental policies designed to mitigate environmental concerns. While precise figures are dependent on these ever-shifting variables, the market is expected to maintain a steady growth trajectory driven by increasing global energy demands. Regional variations will continue, with developing economies maintaining faster growth rates than their more mature counterparts. The market will also witness increased emphasis on sustainable practices, with the adoption of cleaner fuels and improved refining technologies playing a crucial role in shaping the market's future landscape. The competition amongst established players and new entrants will further intensify, creating a dynamic and competitive marketplace.

In 2024, the price of natural gas in Europe reached 11 constant U.S. dollars per million British thermal units, compared with 2.2 U.S. dollars in the U.S. This was a notable decrease compared to the previous year, which had seen a steep increase in prices due to an energy supply shortage exacerbated by the Russia-Ukraine war. Since 1980, natural gas prices have typically been higher in Europe than in the United States and are expected to remain so for the coming two years. This is due to the U.S. being a significantly larger natural gas producer than Europe. What is natural gas and why is it gaining ground in the energy market? Natural gas is commonly burned in power plants with combustion turbines that generate electricity or used as a heating fuel. Given the fact that the world’s energy demand continues to grow, natural gas was seen by some industry leaders as an acceptable "bridge-fuel" to overcome the use of more emission-intensive energy sources such as coal. Subsequently, natural gas has become the main fuel for electricity generation in the U.S., while the global gas power generation share has reached over 22 percent. How domestic production shapes U.S. natural gas prices The combination of hydraulic fracturing (“fracking”) and horizontal drilling can be regarded as one of the oil and gas industry’s biggest breakthroughs in decades, with the U.S. being the largest beneficiary. This technology has helped the industry release unprecedented quantities of gas from deposits, mainly shale and tar sands that were previously thought either inaccessible or uneconomic. It is forecast that U.S. shale gas production could reach 36 trillion cubic feet in 2050, up from 1.77 trillion cubic feet in 2000.

In 2030, the market size for hydrogen is forecast to reach over ************ Japanese yen. For 2050, the hydrogen market size is forecast to expand to over ************* yen, making hydrogen the carbon-neutral fuel with the largest forecast market size.Japan is embarking on an ambitious journey to transition to renewable fuels as part of its broader strategy to achieve carbon neutrality by 2050. A central component of this strategy is the expansion of the hydrogen market to make it a cornerstone of Japan's renewable energy portfolio.  Long-term vision for Hydrogen Looking further ahead, by 2050, the hydrogen market size is expected to reach over ************* Japanese yen. The integration of hydrogen into various sectors, including transportation, industrial processes, and power generation, is planned to further reduce greenhouse gas emissions and enhance energy security. However, despite the ambitious plans, the domestic production volume of hydrogen has remained at around the same level in recent years. Biofuels and renewable energy integration Next to hydrogen, biofuels also play a crucial role in the nation's decarbonization efforts. Japan is increasingly looking to biodiesel and bioethanol to reduce its carbon footprint in the transportation sector. For instance, Japan Railway plans to introduce biofuels such as biodiesel in all its diesel trains by 2030. Additionally, the production and utilization of solid biofuels for electricity generation have been growing steadily. The combination of hydrogen and biofuels, supported by the continued expansion of renewable energies, should help Japan to work towards its carbon neutrality goals and transition to a sustainable energy future. 

The renewable diesel market is experiencing robust growth, driven by increasing environmental concerns and stringent government regulations aimed at reducing greenhouse gas emissions from the transportation sector. The market, estimated at $15 billion in 2025, is projected to expand significantly over the forecast period (2025-2033), with a Compound Annual Growth Rate (CAGR) of approximately 12%. This growth is fueled by several key factors. Firstly, the rising demand for sustainable and environmentally friendly fuels is pushing both governments and businesses to adopt renewable diesel alternatives to conventional fossil fuels. Secondly, technological advancements in renewable diesel production, particularly from lipid sources and cellulosic biomass, are driving down costs and enhancing efficiency. This includes improvements in feedstock processing and the development of more resilient and cost-effective production processes. Thirdly, the diversification of applications, ranging from locomotives and ships to power plants, is broadening the market's potential for expansion. Key players like Neste, REG, and Valero are investing heavily in expanding production capacity and developing innovative technologies, contributing to this growth trajectory. However, challenges remain, including fluctuations in feedstock prices and the need for significant infrastructural investments to support wider adoption of renewable diesel. Despite these challenges, the long-term outlook for the renewable diesel market remains positive. The ongoing transition towards cleaner energy sources, coupled with supportive policies and increasing consumer awareness of environmental issues, will continue to stimulate demand. Regional variations will exist, with North America and Europe expected to lead the market due to established regulatory frameworks and significant investments in renewable energy infrastructure. The Asia-Pacific region, while currently having a smaller market share, demonstrates high growth potential given its substantial population and expanding transportation sector. The continued innovation in feedstock sourcing and production technologies, focusing on sustainability and cost-effectiveness, will be crucial in determining the ultimate success of the renewable diesel market and its ability to meet the global demand for environmentally friendly transportation fuels.

The global unleaded petrol market is a mature yet dynamic sector, characterized by significant fluctuations influenced by geopolitical events, evolving environmental regulations, and fluctuating crude oil prices. While precise market sizing data is unavailable, leveraging publicly available information from reputable sources (e.g., IEA, OPEC) and considering the presence of major players like Saudi Aramco, ExxonMobil, and Shell, a reasonable estimation of the 2025 market size could be in the range of $1.5 trillion USD. A Compound Annual Growth Rate (CAGR) of 2% over the forecast period (2025-2033) seems plausible, considering the projected growth in global vehicle ownership, particularly in developing economies, balanced against increasing adoption of electric vehicles and stricter emission standards. Key drivers include the continued reliance on gasoline-powered vehicles in many regions, especially in the transportation sector. Trends include the increasing demand for higher-octane unleaded petrol for performance vehicles and the gradual shift toward cleaner-burning formulations to meet emissions regulations. Restraints include the growing popularity of electric vehicles and the push for alternative fuels, coupled with fluctuating crude oil prices which directly impact petrol prices and consumer demand. This balance between increasing demand and environmental pressures will likely define the market's trajectory in the coming decade. Segmentation within the unleaded petrol market includes factors such as octane rating (regular, mid-grade, premium), regional distribution, and sales channels (wholesale, retail). The competitive landscape is dominated by major integrated oil and gas companies, with significant regional variations in market share. The forecast period (2025-2033) presents both opportunities and challenges for market participants. Those companies capable of adapting to changing regulations, offering innovative fuel solutions, and maintaining efficient supply chains will be best positioned for success. The market will likely experience consolidation as smaller players face increased pressure to compete with larger, internationally integrated companies. The long-term outlook will hinge on the pace of the global energy transition and the relative affordability and accessibility of electric vehicle technology compared to gasoline-powered vehicles.

According to Cognitive Market Research, the global Commercial Aircraft Aviation Fuel market size will be USD XX million in 2023. It will expand at a compound annual growth rate (CAGR) of 15.20% from 2023 to 2030.

The demand for Commercial Aircraft Aviation Fuel is rising due to increasing focus on reducing carbon emissions.
Demand for air turbine fuel remains higher in the Commercial aircraft aviation fuel market.
The passenger aircraft category held the highest Commercial Aircraft Aviation Fuel market revenue share in 2023.
North American Commercial Aircraft Aviation Fuel will continue to lead, whereas the European Commercial Aircraft Aviation Fuel market will experience the most substantial growth until 2030.

Expansion of the Tourism Industry to Provide Viable Market Output

The expansion of tourism is influencing the market's growth. The surge in global tourism has led to a rise in air travel demand, subsequently driving the need for aviation fuel. As more people explore diverse destinations, airlines are compelled to increase their fleets and flights, increasing fuel consumption. Additionally, emerging economies witnessing a boost in tourism further amplify this trend. The expansion of the tourism sector acts as a key driver, stimulating investments and innovations in aviation fuel technology to meet the escalating requirements of the growing commercial airline industry.

For instance, According to the World Tourism Organization, a specialized agency of the United Nations (UN), tourist arrivals in Maldives in January 2021 stood at 92,103. This count rose to 99,397 by 3rd February 2021. The growing count of tourists is creating promising scope for the aviation industry.

Source-www.unwto.org/maldives-tourism-looking-up-after-reopening

Increased Development of Jet-a-fuels to Propel Market Growth

The development of jet-a-fuels has significantly impacted the Commercial aircraft aviation fuel market. Jet-A fuels are undergoing advancements to enhance fuel efficiency, reduce carbon emissions, and comply with stringent environmental regulations. These innovations focus on improving the energy density of fuels, exploring alternative and renewable sources, and optimizing combustion processes. The rise in demand for cleaner and more sustainable aviation fuels, coupled with a global emphasis on reducing the environmental impact of air travel, is compelling the industry to invest in research and development, thereby fostering the evolution of Jet-A fuels for a more eco-friendly aviation future.

For instance, in June 2021, researchers at Washington State University developed a process for turning waste plastics into sustainable jet-A fuel. If the process is refined and applied on a large scale, the procedure is expected to address major environmental problems, including greenhouse gas emissions and plastic pollution.

Source-news.wsu.edu/press-release/2021/05/17/new-technology-converts-waste-plastics-jet-fuel-hour/

Market Dynamics of the Commercial Aircraft Aviation Fuel Market

Fluctuation in Oil Prices to Restrict Market Growth

The fluctuation in oil prices hinders the growth of the market. The industry is highly sensitive to changes in crude oil prices, affecting the overall operational costs for airlines. Frequent spikes in oil prices can lead to increased expenses for fuel, impacting profit margins and necessitating adjustments in ticket prices. Conversely, a decline in oil prices may provide temporary relief but can disrupt long-term planning and investments in fuel-efficient technologies. The unpredictable nature of oil price fluctuations introduces financial uncertainties, making it challenging for airlines to budget effectively and potentially hindering the adoption of sustainable aviation fuel alternatives.

Impact of COVID–19 on the Commercial Aircraft Aviation Fuel market

The COVID-19 pandemic significantly affected the Commercial Aircraft Aviation Fuel market. The unprecedented decline in air travel demand led to reduced flight operations, impacting the aviation fuel sector. Airlines faced financial challenges, resulting in fleet groundings and delayed deliveries of new aircraft. It led to a surplus of aviation fuel, causing a price drop. Governments implemented travel restrictions and lockdowns, further exacerbating the industry's woes. As the world strives for recovery, the aviation fuel market is gradually rebounding, but uncertainties ...

The global fuel oil market attained a value of USD 204.75 Billion in 2024 and is projected to expand at a CAGR of 4.10% through 2034. The market is further expected to achieve USD 306.01 Billion by 2034. Rising demand for lower-sulfur, performance-tuned fuel blends in shipping is pushing refiners to upgrade units and launch compliant, stability-enhanced fuel oils for regulatory and operational resilience.

The industry is steadily reshaping itself as suppliers push deeper into cleaner combustion technologies and hybrid thermal systems. One of the most notable shifts was observed in August 2023, when Neste expanded its renewable fuel oil production line, introducing an upgraded low-sulfur formulation designed for heavy industrial boilers. According to the fuel oil market analysis, nearly 38% of global industrial heat demand still relies on liquid fuels, which makes innovations in cleaner-burning fuel oil surprisingly influential. Hence, this move from Neste signals how producers are trying to protect long-term demand by offering blends that reduce SOx and particulate output without forcing facilities into expensive retrofits.

Apart from the product portfolio upgrades, suppliers are also investing in digital combustion monitoring systems that enhance operational visibility for refineries and shipping fleets. Companies like Valero and PetroChina have been piloting sensor-driven optimization platforms that allow customers to track burn efficiency, sludge formation, and furnace performance in real time. This shift toward smart monitoring is becoming a differentiator, especially in sectors where downtime or poor heat output directly affects production targets, accelerating the overall fuel oil market dynamics.

At the same time, the marine fuel category continues evolving fast. Companies like ExxonMobil offer a next-gen very low sulfur fuel oil (VLSFO) engineered to improve stability during long voyages, addressing one of the major pain points reported by ship owners since IMO 2020. Developments like these indicate a broader fuel oil market trend. Fuel oil suppliers are moving from simply fulfilling bulk demand to engineering performance-focused, compliant products that help industrial users manage both environmental and operational pressures.

Fuel wholesalers have come up against hugely volatile markets in recent years. The COVID-19 outbreak and subsequent travel restrictions and lockdowns led to a standstill in global transport activity, driving a sharp drop in fuel prices and sales in 2020. Air passenger numbers tanked by 73% in the EU in 2020, according to the European Commission, driving a sharp drop off in demand for jet fuel. OPEC+ manipulates world crude oil prices by adjusting production quotas and collaborating with other producers. OPEC+ worked to cut production in early 2021 to raise prices back to their pre-pandemic level, which gave fuel wholesalers a big boost. Then, Russia’s invasion of Ukraine led to a string of sanctions being placed on Russia by the EU and other Western nations, including the UK. Bans on Russian fuel exports drove prices and wholesalers’ revenue through the roof. For example, according to vehicle insurer RAC, the average price of unleaded in the UK shot up by 23.8% between 2021 and 2022. Over the five years through 2024, fuel wholesalers’ revenue is forecast to fall at a compound annual rate of 3.8% to reach €1.1 trillion, including an expected 5.8% tumble in 2024 as supply cuts push prices up. Rising levels of environmental awareness will encourage fuel wholesalers to stock a growing range of low-carbon fuel options like biofuels and hydrogen (when they become more financially viable) in the future. In many European countries, the push to decarbonise transport is accelerating, with electric vehicles gaining ground on petrol vehicles, having already surpassed the market share of diesel vehicles in terms of new car registrations. The long-term fall in investment in oil and gas will also push up prices. Over the five years through 2029, revenue is anticipated to fall at a compound annual rate of 1.3% to reach €1.2 trillion.

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Natural Gas Liquids (NGLs) Market Size 2025-2029

The natural gas liquids (NGLs) market size is forecast to increase by USD 21.5 billion, at a CAGR of 6.7% between 2024 and 2029.

The market is experiencing significant growth, driven by the expanding petrochemical industry and increasing demand for renewable energy. The petrochemical sector's growth is fueled by the rising production of plastics and other chemicals, which require NGLs as feedstocks. Moreover, the shift towards cleaner energy sources is creating new opportunities for NGLs as they are often used as feedstocks in the production of biofuels and other renewable energy applications. However, the market faces challenges as well. Growing environmental concerns are pushing for stricter regulations on the production and use of NGLs due to their carbon footprint. Additionally, the volatility of crude oil prices and the availability of alternative feedstocks can impact the profitability of NGLs.
Companies operating in the NGLs market must navigate these challenges by investing in sustainable production methods, exploring alternative feedstocks, and building strategic partnerships to stay competitive. By capitalizing on the growth opportunities and addressing these challenges effectively, players in the NGLs market can secure a strong market position and drive long-term success.

What will be the Size of the Natural Gas Liquids (NGLs) Market during the forecast period?

Explore in-depth regional segment analysis with market size data - historical 2019-2023 and forecasts 2025-2029 - in the full report.
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The natural gas liquids (NGL) market is a dynamic and evolving sector, characterized by continuous shifts in supply and demand patterns and applications across various industries. NGLs, including propane, butane, and pentane, are derived from the natural gas value chain through a process called natural gas processing. These liquids find extensive use in various sectors, such as diesel production, hydrogen generation, and synthetic rubber manufacturing. Environmental regulations continue to shape the NGL market, with a focus on reducing greenhouse gas emissions and promoting carbon capture and energy efficiency. Cryogenic separation is a critical process in NGL production, enabling the separation of NGLs from natural gas through low-temperature distillation.

Fuel blending is another significant application of NGLs, with propane and butane used as fuel additives in gasoline and diesel to enhance combustion efficiency and reduce emissions. The ongoing transition towards renewable resources and sustainable development has led to the emergence of bio-based NGLs derived from renewable feedstocks. The NGL market is subject to market volatility due to price fluctuations and supply and demand imbalances. LNG terminals and LNG carriers play a crucial role in facilitating global trade, enabling the transportation of NGLs to markets where demand is high. The circular economy concept is gaining traction in the NGL industry, with a focus on maximizing the value of by-products and minimizing waste.

Fischer-tropsch synthesis is an emerging technology in the NGL market, enabling the conversion of natural gas into liquid hydrocarbons, including jet fuel and diesel. The potential for CO2 sequestration and emissions reduction through the utilization of NGLs in industrial processes and power generation is a significant area of research and development. Overall, the NGL market is a dynamic and evolving sector, with ongoing innovations and regulatory developments shaping its future.

How is this Natural Gas Liquids (NGLs) Industry segmented?

The natural gas liquids (NGLs) industry research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD billion' for the period 2025-2029, as well as historical data from 2019-2023 for the following segments.

Application

  Industrial
  Residential
  Commercial


Product

  Propane
  Butane
  Pentane
  Ethane


Geography

  North America

    US
    Canada


  Europe

    Norway
    Russia


  Middle East and Africa

    Iran
    Qatar
    UAE


  APAC

    Australia
    China


  Rest of World (ROW)

.

By Application Insights

The industrial segment is estimated to witness significant growth during the forecast period.

NGLs, such as ethane and propane, are vital components in the petrochemical industry, serving as essential feedstocks for the production of chemicals and plastics like ethylene, propylene, butadiene, and synthetic rubber. These building blocks are integral to various products, including plastics, synthetic rubber, detergents, and solvents. Propane and butane are also widely used as heating fuels for residential and industrial applications and as fuel for vehicles in areas with limited natural gas access or as LPG for cooking and heating. In refining operation

The size of the Marine Gas Oil Market was valued at USD XX Million in 2023 and is projected to reach USD XXX Million by 2032, with an expected CAGR of 4.00% during the forecast period. The market of marine gas oil is an important step in the business of shipping. Most ships and vessels, along commercial lines of shipping, fishing, and other operations, consume it as fuel. Since MGO results from refining crude oil, which has far less sulfur content than heavy fuel oil, it may be consumed by all shipping lines to help realize such stringent environmental regulations as the 2020 sulfur cap of the International Maritime Organization. This regulation leads to an extreme decrease in sulfur release from ships, hence the need for cleaner fuels such as MGO. Besides, a series of other factors including global trade dynamics, shipping activity and crude oil price volatilities can impact this market. With the growth in the international trade, demand for marine gas oil is expected to increase significantly in regions with very congested shipping lanes and ports. There has been a growing need for sustainable shipping too, and significant investment in alternative marine fuels like LNG and biofuels could pose major challenges in the market in the long term. Challenges are related to price volatility as well as to shift towards more sustainable fuel sources, however the immediate future is likely to witness the industry being in contest for adaptation of regulatory change and improvement in the environmental footprint of shipping organizations; the marine gas oil market will grow with vessels that operate efficiently and with stringent standards on emissions. Recent developments include: May 2022: Neste OYJ, in collaboration with its partner Nordic Marine Oil, started piloting a new Neste Marine 0.1 Co-processed marine fuel in Scandinavia to reduce greenhouse emissions. The fuel is based on Neste Marine 0.1 low-sulfur marine fuel, which is a range of low-sulfur marine fuels (Neste MGO DMA and Neste MDO DMB) with a sulfur concentration of less than 0.1%, January 2022: Sri Lanka's Hambantota port started MGO bunkering operations. According to the authorities, the MGO supplied is compliant with ISO 8271 standards and can also be provided to overseas locations such as the Maldives.. Key drivers for this market are: 4., Modernization and Upgrades of Existing Military Aircraft Fleets4.; Increasing Defense Budgets. Potential restraints include: 4., Shift Toward Unmanned Aircraft. Notable trends are: Offshore Support Vessel (OSV) Segment to be the Fastest-Growing.

The Diesel Recreational Vehicles market is poised for substantial growth, projected to reach an estimated market size of $35,000 million by 2025, driven by an anticipated Compound Annual Growth Rate (CAGR) of 7.5% through 2033. This robust expansion is fueled by an increasing desire for flexible and adventurous travel, particularly among millennials and a growing segment of retirees who value the enhanced power, fuel efficiency, and extended range that diesel engines offer over their gasoline counterparts. The demand for durable and capable RVs capable of tackling diverse terrains and longer journeys without frequent refueling is a significant propellant. Furthermore, continuous innovation in diesel engine technology, focusing on reduced emissions and improved performance, is making these vehicles more appealing and environmentally conscious, addressing some of the historical concerns associated with diesel power. The market is segmented into Motorized RVs and Towable RVs, with Motorized RVs likely holding a larger share due to their integrated nature and often higher perceived value and capability. Applications span both Residential and Commercial sectors, with residential use being dominant, reflecting the trend of RVs becoming a preferred mode of vacationing and even remote living. Key players like Thor Industries, Forest River, and Winnebago Industries are at the forefront, investing in advanced features and diverse product lines to cater to evolving consumer preferences. Geographically, North America, led by the United States, is expected to remain the largest market due to a deeply ingrained RV culture and favorable infrastructure. However, Europe and the Asia Pacific region are anticipated to witness significant growth, driven by increasing disposable incomes and a burgeoning interest in outdoor recreation. Restraints may include the initial purchase price of diesel RVs and fluctuations in diesel fuel costs, but the long-term operational efficiencies and superior performance are expected to outweigh these concerns for a significant consumer base.