Gas station revenue is expected to total $173.4 billion by the end of 2011.
Los Angeles, CA (PRWEB) November 16, 2011
During the five years to 2016, the Automotive Fuel Retailers industry in China is expected to grow moderately, mainly driven by the rising number of automobiles, the reform of the current pricing mechanism for automotive fuels, intensified competition, lower global crude oil prices and the development of non-fuel businesses. The annualized growth rate for industry revenue is forecast to be 7.9% over the next five years, according to IBISWorld, America’s largest publisher of industry research.
Gas station revenue in China is expected to total $173.4 billion by the end of 2011, up 13.5% from 2010, with an annualized growth rate of 16.4% in the past five years, according to IBISWorld.
The industry currently consists of a duopoly of two state-owned oil companies, China Petrochemical Corporation (Sinopec) and China National Petroleum Corporation. The industry is heavily influenced by the vertical integration these companies, which control crude oil mining and the importation of petroleum products and own most of the large refineries in China. These two firms also jointly own over half of the gas stations in China. Sinopec and CNPC gas stations have competitive advantages in fuel supply, funding and technologies.
Despite all this, IBISWorld expects global enterprises and private domestic companies to continue to grow over the next five years and to gradually chip away at the two companies’ market shares over the next five years.
For more information, including profit, market shares and market segmentation, download IBISWorld’s report on Automotive Fuel Retailers in China
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Establishments in the Automotive Fuel Retailers industry in China retail automotive fuels, such as gasoline and diesel oil, and related automotive products, such as lubricating oil.
Automotive Fuel Retailers in China Report Key Topics
Key External Drivers
Industry Life Cycle
Products & Markets
Products & Services
Globalization & Trade
Market Share Concentration
Key Success Factors
Cost Structure Benchmarks
Barriers to Entry
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Recognized as the nation’s most trusted independent source of industry and market research, IBISWorld offers a comprehensive database of unique information and analysis on 200 Chinese industries. With an extensive online portfolio, valued for its depth and scope, the company equips clients with the insight necessary to make better business decisions. Headquartered in Los Angeles, IBISWorld serves a range of business, professional service and government organizations through more than 10 locations worldwide. For more information, visit http://www.ibisworld.com.cn or call 1-800-330-3772.