Gas Stations in the US - Industry Market Research Report

Pumped up: External competition is expected to limit stronger revenue growth

The Gas Stations industry has experienced significant revenue volatility. The industry is sensitive to trends in oil prices because it largely retails gasoline. A decline in the world price of crude oil due to the COVID-19 pandemic led to a substantial decline in revenue in 2020. The pandemic also contributed to the reduction in total vehicles miles, resulting in lower demand for industry products. In contrast, 2021 and 2022 saw fuel prices grow astronomically as pent up demand was unleashed, supply chain challenges, and geopolitical developments hampered global oil markets. The aggregate result of these divergent trends is forecast to produce revenue growth at a CAGR of 2.6% $148.3 billion over the five years to 2023, including a 2.4% decline in 2023 as prices temper. This industry comprises gas stations that retail automotive fuels, offer repair services and sell replacement parts and accessories. Gas stations that operate convenience stores on their premises are included in the Gas Stations with Convenience Stores industry. 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.