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New service station concepts in the UK: How electric vehicles are influencing the way service stations attract customers

New service station concepts in the UK: How electric vehicles are influencing the way service stations attract customers

Summary

When taking into account that internal combustion engines vehicles sales will be banned in the UK by 2040, the question of what will the multimillion-dollar industry of fuel retail do, springs to mind. This case study examines the how the concept of service stations is changing to take advantage of new opportunities and build a business model that will survive the decrease in fuel retail.

Key Highlights

- By 2030, sales of internal combustion engines will drop by 50% and in 2040, sales of such cars will be banned in the UK
- Large fuel retail companies are investing heavily to diversify their revenue streams. BP recently acquired the largest EV charging network in the UK, Chargemaster
- Most companies are increasing their offers at forecourts with a wide variety of stores to appeal to new customers, not only to motorists.

Scope

- Examines the business model of service stations
- Analyzes the future threats to this model
- Identifies opportunities in the market
- Explores how the market leaders are tackling the issue of increasing electric vehicle parc
- Looks into the future of the service stations business model

Reasons to buy

- What will happen with service stations in the run up to and after 2040?
- How are companies adapting to the growing Electric Vehicle market?
- What other opportunities can fuel companies exploit to profit?
- How will service stations appeal to EV motorists?