$28.0bn
$XXX.Xm
52,744
5,761
$X.Xbn
Volatile crude oil prices and economic uncertainty have defined the Canadian gas Stations with Convenience Stores industry. Consumer demand declined with a decrease in travel caused by the pandemic. Starting in 2021, the recovery of the global economy led to a massive surge in the world price of crude oil. Rising oil prices increased revenue as prices were passed down to consumers. High crude oil prices and improving economic conditions have boosted sales volumes. In 2023, tempering crude oil prices dragged down sales at the pump again, with revenue contracting 1.0%. Revenue for gas stations with convenience stores is expected to slide at a CAGR of 0.2% to $28.0 billion through the end of 2024, including growth of 3.4% in 2024 alone because of a climbing volume of net gasoline sales.
Industry revenue has declined at a CAGR of 0.2 % over the past five years, to reach an estimated $28.0bn in 2024.
Market size is projected to grow over the next five years.
Company | Market Share (%)
2024 | Revenue ($m)
2024 | Profit ($m)
2024 | Profit Margin (%)
2024 |
---|---|---|---|---|
Imperial Oil | 5,843.4 | 562.4 | 9.6 | |
Parkland Fuel Corporation | 3,386.5 | 175.6 | 5.2 | |
Suncor | 1,434.1 | N/A | N/A |
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Industry revenue is measured across several distinct product and services lines, including Gasoline, Diesel fuel and Automotive services. Gasoline is the largest segment of the Gas Stations with Convenience Stores in Canada.
Gasoline is the dominant product
The Gas Stations with Convenience Stores industry in Canada is composed of establishments that retail automotive fuels and a limited line of merchandise in a convenience store setting. Industry establishments may also provide automotive repair services. This industry is distinct from the Convenience Stores industry in Canada and the Gas Stations industry in Canada (IBISWorld reports 44512CA and 44719CA, respectively).
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NAICS 447110 - Gas Stations with Convenience Stores in Canada
Get an indication of the industry's health through historical, current and forward-looking trends in the performance indicators that make or break businesses.
Volatile oil prices have contributed to revenue fluctuations for fuel retailers. This has translated to a decline in profitability across the industry.
Learn about an industry's products and services, markets and trends in international trade.
Retail sales of automotive fuel account for a majority of all revenue for gas stations. Regular fuel generates the largest share of revenue because it is the most common fuel...
Discover where business activity is most concentrated in an industry and the factors driving these trends to find opportunities and conduct regional benchmarking.
Ontario and Quebec account for the majority of locations. These two provinces also account for over 60.0% of the Canadian population.
Get data and insights on what's driving competition in an industry and the challenges industry operators and new entrants may face, with analysis built around Porter's Five Forces framework.
Gas stations compete heavily on price. Fuel is a homogenous product, so downstream consumers typically seek out the lowest prices, especially when oil prices jump.
Learn about the performance of the top companies in the industry.
Leading fuel retailers have expanded their position. Imperial Oil is the largest company in the industry, with integrated operations across Canada.
Understand the demographic, economic and regulatory factors that shape how businesses in an industry perform.
Provincial governments have various regulations on the price of retail fuel. In Quebec, the government enforces a retail price floor.
View average costs for industry operators and compare financial data against an industry's financial benchmarks over time.
Purchases consume the bulk of revenue for fuel retailers with convenience stores. Purchase costs heavily depend on fuel costs, which make up most of all spending.
Including values and annual change:
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Key data sources in Canada include:
Analysts also use industry specific sources to complement catch-all sources, although their perspective may focus on a particular organization or representative body, rather than a clear overview of all industry operations. However, when balanced against other perspectives, industry-specific sources provide insights into industry trends.
These sources include:
Finally, IBISWorld’s global data scientists maintain a proprietary database of macroeconomic and demand drivers, which our analysts use to help inform industry data and trends. They also maintain a database of statistics and analysis on thousands of industries, which has been built over our more than 50-year history and offers comprehensive insights into long-term trends.
IBISWorld’s analysts and data scientists use the sources above to create forecasts for our proprietary datasets and industry statistics. Depending on the dataset, they may use regression analysis, multivariate analysis, time-series analysis or exponential smoothing techniques to project future data for the industry or driver. Additionally, analysts will leverage their local knowledge of industry operating and regulatory conditions to impart their best judgment on the forecast model.
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The market size of the Gas Stations with Convenience Stores industry in Canada is $28.0bn in 2024.
There are 5,761 businesses in the Gas Stations with Convenience Stores industry in Canada, which has grown at a CAGR of 1.6 % between 2019 and 2024.
The market size of the Gas Stations with Convenience Stores industry in Canada has been declining at a CAGR of 0.2 % between 2019 and 2024.
Over the next five years, the Gas Stations with Convenience Stores industry in Canada is expected to grow.
The biggest companies operating in the Gas Stations with Convenience Stores market in Canada are Imperial Oil, Parkland Fuel Corporation and Suncor
Retailing automotive fuels (e.g. gasoline and diesel fuel) and Retailing groceries, beverages, snacks and other are part of the Gas Stations with Convenience Stores industry.
The company holding the most market share in Canada is Imperial Oil.
The level of competition is high and steady in the Gas Stations with Convenience Stores industry in Canada.