South Korea Gasoline Market Size, Share, and COVID-19 Impact Analysis, By Type (Regular Gasoline, Special Gasoline), By Application (Motorcycle, Automobile, and Others), and South Korea Gasoline Market Insights, Industry Trend, Forecasts to 2035

South Korea Gasoline Market Insights Forecasts to 2035

• The South Korea Gasoline Market Size was Estimated at USD 2.3 Billion in 2024
• The Market Size is Expected to Grow at a CAGR of around 1.80% from 2025 to 2035
• The South Korea Gasoline Market Size is Expected to reach USD 2.8 Billion by 2035

According to a research report published by Spherical Insights and Consulting, The South Korea Gasoline Market Size is anticipated to reach USD 2.8 Billion by 2035, growing at a CAGR of 1.80% from 2025 to 2035. Some of the major factors propelling the market are the growing sales of passenger and commercial vehicles, ongoing improvements in engine technology and fuel efficiency, and the growing construction of roads, highways, and residential and commercial buildings.  

Market Overview

The South Korean gasoline market encompasses the production, distribution, and use of gasoline in South Korea are all included in the country's gasoline market. Retail gas stations, wholesalers, refineries, and other stakeholders are all involved, and it is impacted by a number of variables, including government regulations, export activity, pricing strategies, and domestic demand. Additionally, Innovation in the gasoline industry is being driven by the general public's growing awareness of environmental issues and the growing sales of eco-friendly and hybrid gasoline-electric vehicles. A positive market outlook is also being provided by the growing popularity of ride-sharing services and driverless vehicles. Accordingly, ongoing investments in alternative fuel infrastructure, such as that for hydrogen and liquefied natural gas (LNG), are improving the market's outlook. In addition, a number of businesses are continuously striving to raise fuel efficiency, lower emissions, and improve the quality of their gasoline products. Additionally, the country's growing reliance on gasoline-powered vehicles for domestic travel and sightseeing is supporting market expansion.

Report Coverage

This research report categorizes the market for the South Korea gasoline market based on various segments and regions and forecasts revenue growth and analyses trends in each submarket. The report analyses the key growth drivers, opportunities, and challenges influencing the South Korea gasoline market. Recent market developments and competitive strategies such as expansion, product launch, and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key market players and analyses their core competencies in each sub-segment of the South Korea gasoline market.

Driving Factors

The demand for gasoline in South Korea is primarily driven by the country's strong economic growth and rising sales of both passenger and commercial vehicles. Additionally, the market prognosis is excellent due to the growing trend of cleaner transportation solutions. In addition, South Korea's growing refinery capacity for gasoline production is supporting market expansion. In addition, ongoing improvements in engine technology and fuel economy are encouraging more people to drive gasoline-powered cars.

Restraining Factors

The South Korean gasoline market is facing growing pressure amid market saturation, with an abundance of gas stations leading to intensified competition and declining profitability. Compounding this issue, government incentives and rising environmental consciousness are accelerating consumer adoption of electric vehicles and alternative fuels, posing significant long-term challenges to the traditional gasoline sector.

Market Segmentation

The South Korea Gasoline Market share is classified into type and application.

• The regular gasoline segment held a significant share in 2024 and is expected to grow at a significant CAGR during the forecast period.

The South Korea gasoline market is segmented by type into regular gasoline and special gasoline. Among these, the regular gasoline segment held a significant share in 2024 and is expected to grow at a significant CAGR during the forecast period. The Growing sales of both passenger and commercial vehicles, improvements in engine technology, and government initiatives supporting cleaner fuels are the main factors propelling the market. Although the market for premium gasoline has been expanding quickly, especially as such of rising demand from luxury and foreign automobiles, it still accounts for a smaller portion of the market than regular gasoline.

• The automobile segment held a significant share in 2024 and is expected to grow at a significant CAGR during the forecast period.

The South Korea gasoline market is segmented by application into motorcycle, automobile, and others. Among these, the automobile segment held a significant share in 2024 and is expected to grow at a significant CAGR during the forecast period. The large number of passenger and commercial vehicles, ongoing engine technology advancements, and government policies supporting cleaner fuels are the main factors driving the demand. Automobiles dominate because of their extensive use in both urban and rural areas, even though motorcycles and other vehicle types also contribute to gasoline consumption.

Competitive Analysis:

The report offers the appropriate analysis of the key organizations/companies involved within the South Korea gasoline market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market.

List of Key Companies

• SK Energy
• S-Oil Corporation
• Hyundai Oilbank
• GS Caltex
• Others

Key Target Audience

• Market Players
• Investors
• End-users
• Government Authorities 
• Consulting and Research Firm
• Venture capitalists
• Value-Added Resellers (VARs)

Market Segment

This study forecasts revenue at South Korea, regional, and country levels from 2020 to 2035. Spherical Insights has segmented the South Korea Gasoline Market based on the below-mentioned segments:

South Korea Gasoline market, By Type

• Regular Gasoline
• Special Gasoline

South Korea Gasoline market, By Application

• Motorcycle
• Automobile
• Others