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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 de
New service station concepts in the UK: How electric vehicles are influencing the way service stations attract customers
When taking into account that internal combustion engines vehicles sales will be banned in the UK by 2040, the question of what will the multimilliondollar 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.
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.
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? Table of Contents
Refueling process is different from EV charging process 6
EV charging is more timeconsuming and demands different services while customers wait for their car to be charged 6
Service stations are centered on the need to fuel at a precise geographic location 7
Problems of the current service station model 9
Fuel is the primary demand of motorists 9
Nonfuel products may lack appeal to consumers not buying fuel 9
Drop in total fuel sales value and convenience stores as an alternative source of revenue 9
New service station that appeals to a wide range of customers and not only motorists 11
Service stations need to keep customers entertained and comfortable while they wait 11
Fuel Companies Invest in EV Chargers and Convenience Stores as road to zero approaches 14
The Road to Zero is approaching 14
EV parc is growing and will grow to represent a larger portion in the future 14
Convenience sales are growing as a way to diversify from fuel revenue and as a way to attract customers 15
Location of service stations is critical 17
Ubiquity of EV chargers gives them an advantage over fuel 17
Growing participation of stores at service stations 17
Service station of the future will have even greater focus on stores 17
Further Reading 19
Ask the analyst 20
About MarketLine 20