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Saudi Arabia Fuel Station Market 2021 Industry Analysis, Segmentation, Share, Size, Opportunities and Forecast to 2025

Saudi Arabia Fuel Station Market – Growth, Trends, And Forecast (2019 – 2024)

The report presents an in-depth assessment of the Saudi Arabia Fuel Station including enabling technologies, key trends, market drivers, challenges, standardization, regulatory landscape, deployment models, operator case studies, opportunities, future roadmap, value chain, ecosystem player profiles and strategies. The report also presents forecasts for Saudi Arabia Fuel Station investments from 2019 till 2024. 

The Saudi Arabia Fuel Station market is highly competitive and consists of a number of major players. Top Companies like Tas’helat Marketing Company, Aldrees Petroleum and Transport Services Company (APTSCO), Al Osais International Holding Company, Petromin Corporation, Oman Oil Marketing Company (OOMCO), ADNOC Distribution, Emirates National Oil Co Ltd LLC (ENOC), NAFT Services Co. Ltd, Saudi Arabian Oil Company (Saudi Aramco) among others

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Scope of the Report

Expansion of existing fuel station infrastructure and increasing investment in the sector by both, the national firms and foreign players, are expected to drive the fuel station market in the country during the forecast period. Saudi Arabia was the largest crude oil producer in 2016. In 2017, the country took a strategic decision of oil production cut, to aid in the increasing crude oil prices, which, in turn, resulted in the country being the second-largest crude oil producer, as of 2018.

Key Market Trends

Increasing Adoption of Alternate Vehicles to Restraint the Market

– Under the Saudi Vision 2030, the Saudi government is looking forward to reducing its dependency on oil. As the automobile sector accounts for a significant share of oil consumption in the country, the government plans to ensure sustainable future, by executing several reforms in the country, such as promoting shift toward cleaner fuel-based automobile. Like the global trend, the country is on the urge of adopting the hydrogen-based engines and electric vehicles. In addition, the traditional vehicles also account for a large amount of greenhouse gas emissions in the country. Promotion of these vehicles is expected to result in the reduction of GHGs in the country.
– On June 2019, Saudi Arabia inaugurated its first auto hydrogen fuel station. The station is a joint venture between Saudi Arabian Oil Company (Aramco) and the Air Products and was opened at the Dhahran Techno Valley Science Park. This pilot project represents an exciting opportunity for Saudi Aramco and Air Products to demonstrate the potential of hydrogen in the transport sector and its viability as a sustainable fuel for the future
– Moreover, keeping in mind the climate change, most of the major companies in the country are paying attention to the adoption of renewables in the country energy mix, and thus, investing in the business of electric vehicles. In a bid to move forward toward the Saudi 2030 Vision, the Saudi Electricity Company has signed an agreement with Japanese firms, Tokyo Electric Power Company, Tecaoca Coco Energy Solutions Company, and Nissan Motor Company, to implement an electric vehicle pilot project. Under the agreement, fast-charger stations are expected to be developed to charge EVs in 30 minutes.
– Similarly, in September 2018, the country invested USD 1 billion in Lucid Motors, for the manufacturing of its first electric vehicle. Such efforts of the country indicate its increasing interest toward electric vehicle adoption, and this is expected to hamper the demand for fuel stations in the country, as a greater number of electric vehicles are deployed in the country..

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What are the market factors that are explained in the report?

Key Strategic Developments: The study also includes the key strategic developments of the market, comprising R&D, new product launch, M&A, agreements, collaborations, partnerships, joint ventures, and regional growth of the leading competitors operating in the market on a global and regional scale.

Key Market Features: The report evaluated key market features, including revenue, price, capacity, capacity utilization rate, gross, production, production rate, consumption, import/export, supply/demand, cost, market share, CAGR, and gross margin. In addition, the study offers a comprehensive study of the key market dynamics and their latest trends, along with pertinent market segments and sub-segments.

Analytical Tools: Saudi Arabia Fuel Station Market report includes the accurately studied and assessed data of the key industry players and their scope in the market by means of a number of analytical tools. The analytical tools such as Porter’s five forces analysis, feasibility study, and investment return analysis have been used to analyzed the growth of the key players operating in the market. 

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According to IEA, there is expected to be 50 million electric vehicles on the road in the country by 2025, and 300 million by 2040, from close to the 2 million now. This is expected to cut domestic fuel demand from fuel-based vehicles in the country, which in turn, is expected to prohibit the demand for fuel station over the forecast period. Moreover, the falling cost of associated equipment, such as battery, which has witnessed a fall of 79% from 2010 to 2017, is expected to result in reduction in the cost of electric vehicles and increase its uptake in the country, during the forecast period

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