Saudi Arabia Automotive Fuels Market Size (2024 - 2029)

The Saudi Arabia automotive fuels market is anticipated to experience growth in its market size over the forecast period, driven by increasing demand from heavy automobiles and rising automotive sales. However, the expansion of the market may face challenges due to the growing adoption of electric vehicles. Despite these challenges, the government's initiative to blend ethanol with crude oil by 2050 presents significant opportunities for market growth.

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Market Size of Saudi Arabia Automotive Fuels Industry

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Saudi Arabia Automotive Fuels Market Summary
Study Period 2020-2029
Base Year For Estimation 2023
Forecast Data Period 2024 - 2029
Historical Data Period 2020 - 2022
CAGR (2024 - 2029) 5.25 %
Market Concentration Medium

Major Players

Saudi Arabia Automotive Fuels Market Major Players

*Disclaimer: Major Players sorted in no particular order

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Saudi Arabia Automotive Fuels Market Analysis

The Saudi Arabia Automotive Fuels Market size in terms of production capacity is expected to grow from 13.25 Million barrels per day in 2024 to 17.11 Million barrels per day by 2029, at a CAGR of 5.25% during the forecast period (2024-2029).

  • Over the medium term, rising demand from heavy automobiles for transportation and increasing automotive sales in Saudi Arabia are expected to drive the Saudi Arabian automotive fuels market during the forecast period.
  • On the other hand, rising demand and the adoption of electric vehicles in the automotive sector are expected to hinder the growth of the market.
  • Nevertheless, the Saudi Arabian government's target of blending ethanol with crude oil by 2050 is likely to create lucrative growth opportunities for the Saudi Arabian automotive fuels market during the forecast period.

Saudi Arabia Automotive Fuels Industry Segmentation

Automotive fuel refers to liquid fuel that is distributed for application in any automobile. In recent years, gasoline or diesel has fueled the majority of motor vehicles globally.

The Saudi Arabian automotive fuels market is segmented by fuel type. By fuel type, the market is segmented into gasoline and diesel. For each segment, the market size and forecasts for Saudi Arabia's automotive fuels are done based on volume for all the above segments.

By Fuel Type
Gasoline
PG91 Regular Grade Gasoline
PG95 Premium Grade Gasoline
Diesel
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Saudi Arabia Automotive Fuels Market Size Summary

The Saudi Arabian automotive fuels market is poised for growth over the forecast period, driven by increasing demand from heavy automobiles and rising automotive sales. The Vision 2030 initiative is expected to bolster the automotive industry by promoting domestic manufacturing and technological advancements, which will enhance vehicle sales and exports. The market benefits from factors such as labor availability, research and development efforts, and supportive government policies. However, the shift towards electric vehicles (EVs) and alternative fuel sources poses a challenge to traditional fuel demand. The government's goal of blending ethanol with crude oil by 2050 presents potential growth opportunities for the automotive fuels sector.

Despite the challenges, Saudi Arabia is making significant strides in the EV sector, aiming to reduce oil dependency and promote sustainable energy solutions. The country is actively investing in EV manufacturing and infrastructure, with plans to become a regional hub for electric vehicles. Collaborations with global players and substantial investments in EV companies underscore this commitment. As a result, the demand for automotive fuels may face constraints due to the increasing adoption of EVs and alternative energy vehicles. The market remains semi-fragmented, with key players like Arabian Petroleum Supply Company and Saudi Arabian Oil Company continuing to influence the landscape.

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Saudi Arabia Automotive Fuels Market Size - Table of Contents

  1. 1. MARKET OVERVIEW

    1. 1.1 Introduction

    2. 1.2 Automotive Fuel Production and Demand Forecast, till 2029

    3. 1.3 Recent Trends and Developments

    4. 1.4 Government Policies and Regulations

    5. 1.5 Market Dynamics

      1. 1.5.1 Drivers

        1. 1.5.1.1 Increasing Automotive Sales in Saudi Arabia

        2. 1.5.1.2 Rising Demand from Heavy Automotives

      2. 1.5.2 Restraints

        1. 1.5.2.1 Rising Emphasis on Electric Vehicles

    6. 1.6 Supply Chain Analysis

    7. 1.7 Industry Attractiveness - Porter's Five Forces Analysis

      1. 1.7.1 Bargaining Power of Suppliers

      2. 1.7.2 Bargaining Power of Consumers

      3. 1.7.3 Threat of New Entrants

      4. 1.7.4 Threat of Substitutes Products and Services

      5. 1.7.5 Intensity of Competitive Rivalry

  2. 2. MARKET SEGMENTATION

    1. 2.1 By Fuel Type

      1. 2.1.1 Gasoline

        1. 2.1.1.1 PG91 Regular Grade Gasoline

        2. 2.1.1.2 PG95 Premium Grade Gasoline

      2. 2.1.2 Diesel

Saudi Arabia Automotive Fuels Market Size FAQs

The Saudi Arabia Automotive Fuels Market size is expected to reach 13.25 million barrels per day in 2024 and grow at a CAGR of 5.25% to reach 17.11 million barrels per day by 2029.

In 2024, the Saudi Arabia Automotive Fuels Market size is expected to reach 13.25 million barrels per day.

Saudi Arabia Automotive Fuels Market Report Snapshots

Saudi Arabia Automotive Fuels Market - Growth, Trends, and Forecasts (2024 - 2029)