EVs and digitisation influence global forecourts market

In analysing the Mobility industry, Frost & Sullivan has issued a discussion on the development of forecourts.

According to the research firm, factors such as the introduction and adoption of electric vehicles are changing the manner in which forecourts are built.

Increased digitisation and connectivity in cars and the changing landscape of alternate fuel options have raised significant interest on how future forecourts should be built and operated.

New business models are expected to drive collaboration between fuel retailers, APP develpers, digital payment service providers and fleet operators.

Frost & Sullivan forecasts fuel retailing to be characterised by newer business models, cloud-based operations, personalised customer services and adoption of alternative profit opportunities.

YS Shashidhar, Partner & Managing Director, Frost & Sullivan, says: “SMART shall be the keyword of forecourts of the future – connected cars, vehicles on the Cloud, BOT operated stations, analytics for customised services and promotions.

“Pre-scheduled refueling based on usage and location, and connected stations are some of the futuristic trends in fuel retailing that oil companies and fuel retailers across the globe need to be prepared to embrace.

“Even if there is a 100% replacement of all petrol/diesel cars to e-vehicles, it would take about 35 years for such a replacement considering the e-vehicles production capacity, capital involved, etc., and moreover 100% replacement is not possible.

“ Hence, it is safe to say that conventional fuel vehicles shall continue to run on roads for the next 3-4 decades and the need for petrol/diesel fuel stations is unlikely to die during this period.”

Changes within the forecourts market is expected to be mainly driven by global fuel trends and other regional dynamics such as technological developments.


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