Gasoline Market Size:
The global gasoline market was valued at $2078 billion in 2017. Asia Pacific was the largest geographic region accounting for $681.6 billion or 32% of the global market. USA was the largest country accounting for $434.3 billion or 20.9% of the global gasoline market.
Gasoline Market Overview:
Refining companies are using heat-integrated crude oil distillation systems with latest optimization approach to minimize operating costs and maximize product yields. These systems use artificial neural networks from rigorous process simulation in the distillation process. I-Heat is the latest software tool from Process Integration Limited which is used for performance analysis and identifies where energy and capacity improvements can be made.
Asia Pacific was the largest geographic region in the gasoline market, accounting to nearly one-third of the global market.
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According to The Business Research Company’s Consultant, Nitin Gianchandani, petroleum refineries are adopting GTL technology to produce low sulfur fuels from natural gas, which is available in abundance and thereby, significantly reduce carbon emissions. It is a mixture of hydrocarbons derived from crude oil and is primarily used to run internal combustion engines in motorcycles, automobiles, and small trucks. This technology uses natural gas as a substitute to crude oil as gas is considered to be the cleanest burning fossil fuel and is abundant, versatile and easily affordable.
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Royal Dutch Shell was the biggest player in the gasoline market, with revenues exceeding $204 billion in 2016. Shell’s strategy aims to overcome the losses occurred due to oil and gas market crash. In 2016, the company acquired BG Group for $53 billion (GBP 36 billion), becoming world’s largest liquefied natural gas company. It reduced its global workforce by 2800. It has sold 51% stake in Shell Refining Company, Malaysia, to Malaysia Hengyuan International Limited (MHIL) for $66.3 million and 100% of Fredericia refinery in Denmark, to Dansk Olieselskab for $80 million to generate cash to cover the loses. Pilipinas Shell Petroleum Corporation, Shell is also looking into alternative green energy technologies by acquiring companies such as Saft, and acquired stakes in AutoGrid, and SunPower.
Gasoline is a mixture of hydrocarbons derived from crude oil and is primarily used to run internal combustion engines in motorcycles, automobiles, and small trucks. Gasoline is a byproduct obtained from the crude oil refining.
Gasoline Global Market Report 2018 is a detailed report giving a unique insight into this market. The report is priced at $4000 for an individual user. To use across your office, the price is $6000 and $8000 if you wish to use across a multinational company.
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