India Fuel Station Market

Q: Which End User led the India Fuel Station market?

The Private Sector category dominated the market in 2024. Read More

ID: MRFR/AM/19848-HCR

128 Pages

Garvit Vyas

September 2025

India Fuel Station Market Research Report By Ownership (Public Sector Undertakings and Private Owned Source), By End User (Public Sector and Private Sector) – India Market Forecast Till 2032

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Summary Table of Contents Segmentation Infographic

1. Market Overview

2. Market Trends

3. Market Segment Insights

4. Key Players and Competitive Insights

5. Industry Developments

6. Market Segmentation

7. Report Scope

8. Market Highlights

9. FAQs

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India Fuel Station Market Summary

The India Fuel Station market is projected to grow from 13.1 USD Billion in 2024 to 24.8 USD Billion by 2035.

Key Market Trends & Highlights

India Fuel Station Key Trends and Highlights

The market is expected to experience a compound annual growth rate of 5.96 percent from 2025 to 2035.
By 2035, the market valuation is anticipated to reach 24.8 USD Billion, indicating robust growth.
In 2024, the market is valued at 13.1 USD Billion, reflecting a strong foundation for future expansion.
Growing adoption of electric vehicle charging infrastructure due to increasing environmental awareness is a major market driver.

India Fuel Station Market

CAGR

5.96%

Market Size & Forecast

2024 Market Size	13.1 (USD Billion)
2035 Market Size	24.8 (USD Billion)
CAGR (2025-2035)	5.96%

Major Players

Indian Oil Corporation Ltd, Bharat Petroleum Corp. Ltd, Reliance Industries Limited, Royal Dutch Shell PLC, TotalEnergies SA, Hindustan Petroleum Corporation Limited, Nayara Energy Limited

India Fuel Station Market Trends

The rise of alternative fuels is driving the market growth

Another transformative trend in the fuel station market is the rapid electrification of transportation and the consequent expansion of electric vehicle (EV) charging infrastructure. As the automotive industry undergoes a significant shift towards electric mobility, fuel stations are evolving to cater to the changing needs of electric vehicles. The rise in electric vehicle adoption is driven by factors such as government incentives, advancements in battery technology, and increasing awareness of the environmental benefits associated with electric vehicles. Fuel stations are increasingly incorporating electric vehicle charging points alongside traditional fuel dispensers.

This shift not only addresses the changing consumer preferences but also aligns with the broader global push toward sustainable transportation. The expansion of EV charging infrastructure involves the installation of fast-charging stations, offering convenience and shorter charging times for electric vehicle users. Moreover, strategic partnerships between fuel station operators and electric vehicle manufacturers contribute to the seamless integration of charging facilities. This trend is reshaping the competitive landscape of the fuel station market as operators compete to establish themselves as leaders in electric vehicle charging.

The adaptability of fuel stations to cater to both traditional and electric vehicles reflects a forward-looking approach that acknowledges the coexistence of multiple energy solutions in the future of transportation. As electric vehicle adoption continues to rise, fuel stations that successfully embrace and invest in electrification are likely to secure a competitive edge in this evolving market.

Market Segment Insights

Fuel Station Ownership Insights

The India Fuel Station market segmentation, based on Ownership, includes public sector undertakings and private owned source. The public sector undertakings category tends to dominate the ownership segment in the fuel station market. Governments are usually involved in the regulation and distribution of fossil fuels, ensuring energy security and stability in the country. Public sector undertakings are established with the primary objective of serving the public interest, and their involvement in the fuel station sector aligns with national energy policies.

Governments may also use these entities to control fuel prices and maintain stability in the energy sector, which is crucial for overall economic health.

Figure 1: India Fuel Station Market, by Ownership, 2024 & 2032 (USD Billion)

Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

Fuel Station End User Insights

The India Fuel Station market segmentation, based on end user, includes the public sector and private sector. The private sector category tends to dominate the fuel station market. Private sector entities are often more agile and responsive to market dynamics. They can quickly adapt to changing consumer preferences and technological advancements in the fuel and energy sector. This agility allows them to efficiently implement innovations such as advanced payment systems, loyalty programs, and environmental sustainability measures, enhancing the overall customer experience.

Fuel Station Country Insights

The Fuel Station Market in India is experiencing robust growth due to several key factors. The country's sustained economic development and urbanization have led to an increase in the number of vehicles on the road, driving up the demand for fuel stations. As more individuals and businesses acquire vehicles, the need for convenient and accessible fueling infrastructure grows. The government's focus on expanding and modernizing the country's transportation infrastructure has spurred the growth of the fuel station market.

Initiatives such as the Bharat Stage VI emission standards and the promotion of alternative fuels have driven investments in upgrading existing fuel stations and establishing new ones to align with evolving regulatory requirements.

Additionally, the rising awareness of environmental sustainability and the push towards cleaner energy sources has led to the integration of electric vehicle charging infrastructure within fuel stations. This diversification of services caters to the changing landscape of transportation preferences, contributing to the overall growth of the fuel station market in India. Furthermore, increased foreign direct investment (FDI) in the energy sector and collaborations between domestic and international players have infused capital into the market, supporting the expansion and modernization of fuel station networks across the country.

As India continues to experience economic growth and technological advancements, the fuel station market is poised for further expansion to meet the evolving needs of the rapidly developing nation.

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Key Players and Competitive Insights

Leading market players such as fuel station operators often expand their offerings beyond traditional fuel sales. Diversification may include the integration of convenience stores, car wash services, and partnerships with food and retail outlets. Market participants are also undertaking a variety of strategic activities to expand their footprint, with important market developments including new Ownership launches, contractual agreements, digitalization and technology integration, mergers and acquisitions, cost competitiveness, higher investments, and collaboration with other organizations. To expand and survive in a more competitive and rising market climate, the Fuel Station industry must offer cost-effective items.

Major players in the Fuel Station market are attempting to increase market demand by investing in research and development operations, including Indian Oil Corporation Ltd, Bharat Petroleum Corp. Ltd, Reliance Industries Limited, Royal Dutch Shell PLC, TotalEnergies SA, Hindustan Petroleum Corporation Limited, and Nayara Energy Limited.

Key Companies in the India Fuel Station Market market include

Industry Developments

In February 2023, Indian Oil Corporation Limited (IOCL), a state-owned refiners and oil marketer company, made an announcement that in the financial year 2023, the company intends to invest USD 25.44 in the state of West Bengal. The company's objective hinged upon the Investor to expand the investment to establish and enhance the infrastructure towards greener retail fuels. By the end of 2022, the green auto fuel will be available in 275 retail outlets across the country, but this figure is expected to increase to more than 1,000 by the end of 2024.

Further, PSUs enjoy the availability of more fuel pricing control due to the presence of government policies steering them. This enables them to offer competitive prices and stabilize the ex-fuel prices and thus offer stability to the consumers.

As per a report published in 2024, Nayara Energy, a private oil refinery is seeking to grow its retail gasoline and diesel network expanding business avenues in India targeting to increase its present retail fuel stations from the current 6,400 by 50% approximately by 2030. The company made a net profit of Rs 9,592 crore on an operational revenue of Rs 1.37 trillion in FY23 posted earlier, and also aims to be a bigger player in the downstream petroleum value chain by branching out in the petrochemical sector, audience was told by Chief Financial Officer, Rajani Kesari to Arunima Bharadwaj.

Nayara will focus on the refining margins with the country's second-largest single-location oil refinery, irrespective of any volatility in global crude oil prices, she says.

Market Segmentation

Fuel Station End User Outlook

Public Sector
Private Sector

Fuel Station Ownership Outlook

Public Sector Undertakings
Private Owned Source

Report Scope

Report Attribute/Metric	Details
Market Size 2023	USD 11.2 Billion
Market Size 2024	USD 13.1 Billion
Market Size 2032	USD 21.2 Billion
Compound Annual Growth Rate (CAGR)	5.3% (2024-2032)
Base Year	2023
Market Forecast Period	2024-2032
Historical Data	2019- 2022
Market Forecast Units	Value (USD Billion)
Report Coverage	Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends
Segments Covered	Ownership, End User, and Region
Countries Covered	India
Key Companies Profiled	Indian Oil Corporation Ltd, Bharat Petroleum Corp. Ltd, Reliance Industries Limited, Royal Dutch Shell PLC, TotalEnergies SA, Hindustan Petroleum Corporation Limited, and Nayara Energy Limited.
Key Market Opportunities	The increasing focus on environmental sustainability presents an opportunity for fuel station operators to integrate alternative fuels into their offerings. There is an opportunity for fuel stations to expand their services beyond traditional fueling.
Key Market Dynamics	The rising Ownership of vehicles, both traditional internal combustion engine vehicles and electric vehicles, is a significant driver for the fuel station market. Government policies and regulations play a crucial role in driving the fuel station market.

FAQs

How much is the India Fuel Station market?

The India Fuel Station market size was valued at USD 11.2 Billion in 2023.

What is the growth rate of the India Fuel Station market?

The market is projected to grow at a CAGR of 5.3% during the forecast period, 2024-2032.

Who are the key players in the India Fuel Station market?

The key players in the market are Indian Oil Corporation Ltd, Bharat Petroleum Corp. Ltd, Reliance Industries Limited, Royal Dutch Shell PLC, TotalEnergies SA, Hindustan Petroleum Corporation Limited, and Nayara Energy Limited, among others.

Which Ownership led the India Fuel Station market?

The Public Sector Undertakings (PSUs) category dominated the market in 2024.

Which End User led the India Fuel Station market?

The Private Sector category dominated the market in 2024.

India Fuel Station Market Research Report - Forecast Till 2032 Infographic

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“I am very pleased with how market segments have been defined in a relevant way for my purposes (such as "Portable Freezers & refrigerators" and "last-mile"). In general the report is well structured. Thanks very much for your efforts.”

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