Market Overview:
The global fuel oil market is expected to grow from USD XX million in 2018 to USD XX million by 2030, at a CAGR of X.X%. The growth of the market can be attributed to the increasing demand for fuel oil from transportation and petrochemical industries. The distillate fuel oil segment is projected to lead the global fuel oil market during the forecast period. This segment is expected to grow at a CAGR of X.X% from 2018 to 2030. The growth of this segment can be attributed to the increasing demand for distillate fuel oils from transportation and petrochemical industries across the globe. In terms of application, the transportation sector accounted for majority share in 2017 and is projected to lead during forecast period owing rising demand for fuels in automotive industry as well as aviation sector on account high economic development rates coupled with increase in purchasing power parity (PPP) rates across various countries worldwide .
Product Definition:
Fuel oil is a fractional distillate of petroleum. It is used as a fuel in furnaces, boilers, and steam turbines.
Distillate Fuel Oil:
Distillate fuel oil is a by-product obtained during the distillation process of crude oil. It consists of fatty acids, alcohols, paraffins and other hydrocarbons. Distillate fuel oil has high energy content as compared to regular diesel which makes it an ideal source for use in heaters or boilers in various industries such as power generation, chemicals and petrochemicals among others.
Residual Fuel Oil:
Residual fuel oil (RFO) is the by-product of diesel and gasoil refining processes. It is a thick, black, waxy liquid that remains in the bottom of the tank after gasoline and other components have been removed during processing. The amount of RFO produced varies from refinery to refinery depending on crude oil feedstock quality and product demand at a particular time.
Application Insights:
Petroleum refineries emerged as the dominant application segment and accounted for a share of over 60.0% in 2017. The segment is expected to witness significant growth on account of increasing demand for refined products, such as gasoline, diesel and fuel oil among others. Petroleum refineries are majorly located in the developed economies owing to high demand and production levels across North America and Europe. Latin America also possesses large refining capacities but suffers from low product demand due to comparatively lower penetration rates coupled with higher dependency on imports compared to other regions.
The transportation application segment was valued over USD 300 billion in 2017 owing to its wide scale utilization across all modes of transport including road, rail & waterway, airways & marine transport which include both commercial vehicles as well as private passenger cars (vans/light trucks).
Regional Analysis:
Asia Pacific was the dominant regional market in 2017 and accounted for over 45% of the overall revenue share. The region is expected to continue its dominance over the forecast period as well due to increasing demand from end-use industries, such as transportation and construction. China is projected to remain a key consumer in this region owing to rapid industrialization along with growing domestic fuel consumption.
The Asia Pacific market will be driven by India's rising petroleum product imports coupled with expanding petrochemical capacities at Jammu & Kashmir State Petrotech Company Limited (JKSPC) and PTC Ltd., which are likely to be completed within next few years. In addition, rising investments in offshore projects by companies including Oil & Natural Gas Corporation of India (ONGC), Reliance Industries Limited, and others are anticipated to boost product demand across economies including China, Indonesia, Malaysia, Vietnam among others.
Growth Factors:
- Increasing demand from the transportation sector as a result of global economic growth.
- Stringent environmental regulations for emissions from vehicles and industrial plants, which is expected to drive the demand for fuel oil in the near future.
- Rising investments in infrastructure development projects across emerging economies, which is likely to create new opportunities for fuel oil market players over the next few years.
- Growing popularity of fuel oil as a cheaper and cleaner alternative to other forms of energy such as gasoline and diesel in developing countries.
Scope Of The Report
Report Attributes
Report Details
Report Title
Fuel Oil Market Research Report
By Type
Distillate Fuel Oil, Residual Fuel Oil
By Application
Transportation, Petrochemical Industry, Petroleum Refineries, Building
By Companies
Gazprom, Rosneft, ExxonMobil, PetroChina, BP, Royal Dutch Shell, Chevron, Petrobras, Lukoil, Total, Statoil
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
236
Number of Tables & Figures
166
Customization Available
Yes, the report can be customized as per your need.
Global Fuel Oil Market Report Segments:
The global Fuel Oil market is segmented on the basis of:
Types
Distillate Fuel Oil, Residual Fuel Oil
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Transportation, Petrochemical Industry, Petroleum Refineries, Building
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- Gazprom
- Rosneft
- ExxonMobil
- PetroChina
- BP
- Royal Dutch Shell
- Chevron
- Petrobras
- Lukoil
- Total
- Statoil
Highlights of The Fuel Oil Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Distillate Fuel Oil
- Residual Fuel Oil
- By Application:
- Transportation
- Petrochemical Industry
- Petroleum Refineries
- Building
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Fuel Oil Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
How you may use our products:
- Correctly Positioning New Products
- Market Entry Strategies
- Business Expansion Strategies
- Consumer Insights
- Understanding Competition Scenario
- Product & Brand Management
- Channel & Customer Management
- Identifying Appropriate Advertising Appeals
8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
Fuel oil is a type of petroleum-based fuel that is used in engines. It is made up of hydrocarbons, which are molecules composed of hydrogen and carbon.
Some of the major companies in the fuel oil market are Gazprom, Rosneft, ExxonMobil, PetroChina, BP, Royal Dutch Shell, Chevron, Petrobras, Lukoil, Total, Statoil.
1. Executive Summary
2. Assumptions and Acronyms Used
3. Research Methodology
4. Fuel Oil Market Overview
4.1. Introduction
4.1.1. Market Taxonomy
4.1.2. Market Definition
4.2. Macro-Economic Factors
4.2.1. Industry Outlook
4.3. Fuel Oil Market Dynamics
4.3.1. Market Drivers
4.3.2. Market Restraints
4.3.3. Opportunity
4.3.4. Market Trends
4.4. Fuel Oil Market - Supply Chain
4.5. Global Fuel Oil Market Forecast
4.5.1. Fuel Oil Market Size (US$ Mn) and Y-o-Y Growth
4.5.2. Fuel Oil Market Size (000 Units) and Y-o-Y Growth
4.5.3. Fuel Oil Market Absolute $ Opportunity
5. Global Fuel Oil Market Analysis and Forecast by Type
5.1. Market Trends
5.2. Introduction
5.2.1. Basis Point Share (BPS) Analysis by Type
5.2.2. Y-o-Y Growth Projections by Type
5.3. Fuel Oil Market Size and Volume Forecast by Type
5.3.1. Distillate Fuel Oil
5.3.2. Residual Fuel Oil
5.4. Absolute $ Opportunity Assessment by Type
5.5. Market Attractiveness/Growth Potential Analysis by Type
6. Global Fuel Oil Market Analysis and Forecast by Application
6.1. Market Trends
6.2. Introduction
6.2.1. Basis Point Share (BPS) Analysis by Application
6.2.2. Y-o-Y Growth Projections by Application
6.3. Fuel Oil Market Size and Volume Forecast by Application
6.3.1. Transportation
6.3.2. Petrochemical Industry
6.3.3. Petroleum Refineries
6.3.4. Building
6.4. Absolute $ Opportunity Assessment by Application
6.5. Market Attractiveness/Growth Potential Analysis by Application
7. Global Fuel Oil Market Analysis and Forecast by Sales Channel
7.1. Market Trends
7.2. Introduction
7.2.1. Basis Point Share (BPS) Analysis by Sales Channel
7.2.2. Y-o-Y Growth Projections by Sales Channel
7.3. Fuel Oil Market Size and Volume Forecast by Sales Channel
7.3.1. Manufacturer/Distributor/Service Provider
7.3.2. Aftermarket
7.4. Absolute $ Opportunity Assessment by Sales Channel
7.5. Market Attractiveness/Growth Potential Analysis by Sales Channel
8. Global Fuel Oil Market Analysis and Forecast by Region
8.1. Market Trends
8.2. Introduction
8.2.1. Basis Point Share (BPS) Analysis by Region
8.2.2. Y-o-Y Growth Projections by Region
8.3. Fuel Oil Market Size and Volume Forecast by Region
8.3.1. North America
8.3.2. Latin America
8.3.3. Europe
8.3.4. Asia Pacific
8.3.5. Middle East and Africa (MEA)
8.4. Absolute $ Opportunity Assessment by Region
8.5. Market Attractiveness/Growth Potential Analysis by Region
8.6. Global Fuel Oil Demand Share Forecast, 2019-2026
9. North America Fuel Oil Market Analysis and Forecast
9.1. Introduction
9.1.1. Basis Point Share (BPS) Analysis by Country
9.1.2. Y-o-Y Growth Projections by Country
9.2. North America Fuel Oil Market Size and Volume Forecast by Country
9.2.1. U.S.
9.2.2. Canada
9.3. Absolute $ Opportunity Assessment by Country
9.4. North America Fuel Oil Market Size and Volume Forecast by Application
9.4.1. Transportation
9.4.2. Petrochemical Industry
9.4.3. Petroleum Refineries
9.4.4. Building
9.5. Basis Point Share (BPS) Analysis by Application
9.6. Y-o-Y Growth Projections by Application
9.7. North America Fuel Oil Market Size and Volume Forecast by Type
9.7.1. Distillate Fuel Oil
9.7.2. Residual Fuel Oil
9.8. Basis Point Share (BPS) Analysis by Type
9.9. Y-o-Y Growth Projections by Type
9.10. Market Attractiveness/Growth Potential Analysis
9.10.1. By Country
9.10.2. By Product Type
9.10.3. By Application
9.10.4. By Sales Channel
9.11. North America Fuel Oil Demand Share Forecast, 2019-2026
10. Latin America Fuel Oil Market Analysis and Forecast
10.1. Introduction
10.1.1. Basis Point Share (BPS) Analysis by Country
10.1.2. Y-o-Y Growth Projections by Country
10.1.3. Latin America Average Pricing Analysis
10.2. Latin America Fuel Oil Market Size and Volume Forecast by Country
10.2.1. Brazil
10.2.2. Mexico
10.2.3. Rest of Latin America
10.3. Absolute $ Opportunity Assessment by Country
10.4. Latin America Fuel Oil Market Size and Volume Forecast by Application
10.4.1. Transportation
10.4.2. Petrochemical Industry
10.4.3. Petroleum Refineries
10.4.4. Building
10.5. Basis Point Share (BPS) Analysis by Application
10.6. Y-o-Y Growth Projections by Application
10.7. Latin America Fuel Oil Market Size and Volume Forecast by Type
10.7.1. Distillate Fuel Oil
10.7.2. Residual Fuel Oil
10.8. Basis Point Share (BPS) Analysis by Type
10.9. Y-o-Y Growth Projections by Type
10.10. Market Attractiveness/Growth Potential Analysis
10.10.1. By Country
10.10.2. By Product Type
10.10.3. By Application
10.10.4. By Sales Channel
10.11. Latin America Fuel Oil Demand Share Forecast, 2019-2026
11. Europe Fuel Oil Market Analysis and Forecast
11.1. Introduction
11.1.1. Basis Point Share (BPS) Analysis by Country
11.1.2. Y-o-Y Growth Projections by Country
11.1.3. Europe Average Pricing Analysis
11.2. Europe Fuel Oil Market Size and Volume Forecast by Country
11.2.1. Germany
11.2.2. France
11.2.3. Italy
11.2.4. U.K.
11.2.5. Spain
11.2.6. Russia
11.2.7. Rest of Europe
11.3. Absolute $ Opportunity Assessment by Country
11.4. Europe Fuel Oil Market Size and Volume Forecast by Application
11.4.1. Transportation
11.4.2. Petrochemical Industry
11.4.3. Petroleum Refineries
11.4.4. Building
11.5. Basis Point Share (BPS) Analysis by Application
11.6. Y-o-Y Growth Projections by Application
11.7. Europe Fuel Oil Market Size and Volume Forecast by Type
11.7.1. Distillate Fuel Oil
11.7.2. Residual Fuel Oil
11.8. Basis Point Share (BPS) Analysis by Type
11.9. Y-o-Y Growth Projections by Type
11.10. Market Attractiveness/Grwth Potential Analysis
11.10.1. By Country
11.10.2. By Product Type
11.10.3. By Application
11.10.4. By Sales Channel
11.11. Europe Fuel Oil Demand Share, 2019-2026
12. Asia Pacific Fuel Oil Market Analysis and Forecast
12.1. Introduction
12.1.1. Basis Point Share (BPS) Analysis by Country
12.1.2. Y-o-Y Growth Projections by Country
12.1.3. Asia Pacific Average Pricing Analysis
12.2. Asia Pacific Fuel Oil Market Size and Volume Forecast by Country
12.2.1. China
12.2.2. Japan
12.2.3. South Korea
12.2.4. India
12.2.5. Australia
12.2.6. Rest of Asia Pacific (APAC)
12.3. Absolute $ Opportunity Assessment by Country
12.4. Asia Pacific Fuel Oil Market Size and Volume Forecast by Application
12.4.1. Transportation
12.4.2. Petrochemical Industry
12.4.3. Petroleum Refineries
12.4.4. Building
12.5. Basis Point Share (BPS) Analysis by Application
12.6. Y-o-Y Growth Projections by Application
12.7. Asia Pacific Fuel Oil Market Size and Volume Forecast by Type
12.7.1. Distillate Fuel Oil
12.7.2. Residual Fuel Oil
12.8. Basis Point Share (BPS) Analysis by Type
12.9. Y-o-Y Growth Projections by Type
12.10. Market Attractiveness/Growth Potential Analysis
12.10.1. By Country
12.10.2. By Product Type
12.10.3. By Application
12.10.4. By Sales Channel
12.11. Asia Pacific Fuel Oil Demand Share, 2019-2026
13. Middle East & Africa Fuel Oil Market Analysis and Forecast
13.1. Introduction
13.1.1. Basis Point Share (BPS) Analysis by Country
13.1.2. Y-o-Y Growth Projections by Country
13.1.3. Asia Pacific Average Pricing Analysis
13.2. Middle East & Africa Fuel Oil Market Size and Volume Forecast by Country
13.2.1. Saudi Arabia
13.2.2. South Africa
13.2.3. UAE
13.2.4. Rest of Middle East & Africa (MEA)
13.3. Absolute $ Opportunity Assessment by Country
13.4. Middle East & Africa Fuel Oil Market Size and Volume Forecast by Application
13.4.1. Transportation
13.4.2. Petrochemical Industry
13.4.3. Petroleum Refineries
13.4.4. Building
13.5. Basis Point Share (BPS) Analysis by Application
13.6. Y-o-Y Growth Projections by Application
13.7. Middle East & Africa Fuel Oil Market Size and Volume Forecast by Type
13.7.1. Distillate Fuel Oil
13.7.2. Residual Fuel Oil
13.8. Basis Point Share (BPS) Analysis by Type
13.9. Y-o-Y Growth Projections by Type
13.10. Market Attractiveness/Growth Potential Analysis
13.10.1. By Country
13.10.2. By Product Type
13.10.3. By Application
13.10.4. By Sales Channel
13.11. Middle East & Africa Fuel Oil Demand Share, 2019-2026
14. Competition Landscape
14.1. Global Fuel Oil Market: Market Share Analysis
14.2. Fuel Oil Distributors and Customers
14.3. Fuel Oil Market: Competitive Dashboard
14.4. Company Profiles (Details Overview, Financials, Developments, Strategy)
14.4.1. Gazprom
14.4.1.1. Overview
14.4.1.2. Financials
14.4.1.3. Developments
14.4.1.4. Strategic Outlook
14.4.2. Rosneft
14.4.2.1. Overview
14.4.2.2. Financials
14.4.2.3. Developments
14.4.2.4. Strategic Outlook
14.4.3. ExxonMobil
14.4.3.1. Overview
14.4.3.2. Financials
14.4.3.3. Developments
14.4.3.4. Strategic Outlook
14.4.4. PetroChina
14.4.4.1. Overview
14.4.4.2. Financials
14.4.4.3. Developments
14.4.4.4. Strategic Outlook
14.4.5. BP
14.4.5.1. Overview
14.4.5.2. Financials
14.4.5.3. Developments
14.4.5.4. Strategic Outlook
14.4.6. Royal Dutch Shell
14.4.6.1. Overview
14.4.6.2. Financials
14.4.6.3. Developments
14.4.6.4. Strategic Outlook
14.4.7. Chevron
14.4.7.1. Overview
14.4.7.2. Financials
14.4.7.3. Developments
14.4.7.4. Strategic Outlook
14.4.8. Petrobras
14.4.8.1. Overview
14.4.8.2. Financials
14.4.8.3. Developments
14.4.8.4. Strategic Outlook
14.4.9. Lukoil
14.4.9.1. Overview
14.4.9.2. Financials
14.4.9.3. Developments
14.4.9.4. Strategic Outlook
14.4.10. Total
14.4.10.1. Overview
14.4.10.2. Financials
14.4.10.3. Developments
14.4.10.4. Strategic Outlook
14.4.11. Statoil
14.4.11.1. Overview
14.4.11.2. Financials
14.4.11.3. Developments
14.4.11.4. Strategic Outlook
14.4.12. COMPANY 12
14.4.12.1. Overview
14.4.12.2. Financials
14.4.12.3. Developments
14.4.12.4. Strategic Outlook
14.4.13. COMPANY 13
14.4.13.1. Overview
14.4.13.2. Financials
14.4.13.3. Developments
14.4.13.4. Strategic Outlook
14.4.14. COMPANY 14
14.4.14.1. Overview
14.4.14.2. Financials
14.4.14.3. Developments
14.4.14.4. Strategic Outlook
14.4.15. COMPANY 15
14.4.15.1. Overview
14.4.15.2. Financials
14.4.15.3. Developments
14.4.15.4. Strategic Outlook
14.4.16. COMPANY 16
14.4.16.1. Overview
14.4.16.2. Financials
14.4.16.3. Developments
14.4.16.4. Strategic Outlook
14.4.17. COMPANY 17
14.4.17.1. Overview
14.4.17.2. Financials
14.4.17.3. Developments
14.4.17.4. Strategic Outlook
14.4.18. COMPANY 18
14.4.18.1. Overview
14.4.18.2. Financials
14.4.18.3. Developments
14.4.18.4. Strategic Outlook
14.4.19. COMPANY 19
14.4.19.1. Overview
14.4.19.2. Financials
14.4.19.3. Developments
14.4.19.4. Strategic Outlook
14.4.20. COMPANY 20
14.4.20.1. Overview
14.4.20.2. Financials
14.4.20.3. Developments
14.4.20.4. Strategic Outlook
