Gas Stations with Convenience Stores in the US - Industry Market Research Report

Revved up: Consumers will likely trade up to higher grades of gasoline, aiding industry revenue growth

The Gas Stations with Convenience Stores industry has experienced volatility as the price of gasoline, the industry's primary product, has fluctuated. While the world price of crude oil returned to growth in 2017 and 2018 from a low base, oil prices collapsed again in 2019 and 2020. The global economic slowdown stemming from the COVID-19 pandemic was been accompanied by an oil price war between major producers Saudi Arabia and Russia, resulting in a large decline in crude oil prices declining in 2020. The massive rise in prices throughout 2021 lifted industry revenue 31.1%, and Russia's invasion of Ukraine at the outset of 2022 caused world crude oil prices to rise further. As a result, revenue is forecast to rise at a CAGR of 5.1% to $641.5 billion over the five years to 2023, although it is expected to stagnate during the current year. Industry operators sell automotive fuels such as gasoline and diesel from stations that are collocated with convenience stores or food marts. They may also provide automotive repair services. This industry is distinct from the Convenience Stores Gas Stations (44719) industries. Major oil producers that franchise out most of their convenience operations are not included, unless they own and operate a significant number of sites. This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.