Market Overview:
The global crude oil market is expected to grow from USD 1,711.5 billion in 2018 to USD 2,839.9 billion by 2030, at a CAGR of 5.8% from 2018 to 2030. The growth of the global crude oil market can be attributed to the increasing demand for transportation fuel and petrochemicals across the globe. Based on type, the light distillates segment is projected to lead the global crude oil market during the forecast period. The growth of this segment can be attributed to its growing demand for transportation fuel and petrochemicals across the globe.
Product Definition:
Crude oil is a naturally occurring, unrefined petroleum product that is used to produce gasoline, diesel fuel and other products.
Light Distillates:
Light distillates are a group of hydrocarbons that remain after gasoline and other distillates have been removed in the fractionation process. They consist of molecules with even number carbon chains with average boiling points ranging from 60 to 140 °C. The product is formed by solvent extraction from crude oil, which contains smaller quantities of other components such as paraffins, waxes, and aromatic compounds.
Light Oils:
Light oils are those oils which have low density and high viscosity. They are extracted from plant seeds or fruits mainly soybean, rapeseed (canola), corn, sunflower and palm. These products have a high content of desirable fatty acids such as omega-3 and omega-6 along with other vitamins, minerals & proteins making them useful for human consumption as well as for animal feed.
Application Insights:
The transportation fuel segment led the global crude oil market in 2017 and is projected to witness significant growth over the forecast period. Transportation fuels are used for domestic as well as international travel. Increasing number of air travelers across the globe has resulted in growing demand for jet fuel, which is a key component of aviation industry. In addition, increasing production of gasoline and diesel to meet this rising demand from aviation sector will drive product consumption over the next eight years.
Growing use of these products in road transport owing to their high energy content has resulted in rapid growth of road transport sector across various regions including Europe and Asia Pacific since past few decades.
Regional Analysis:
Asia Pacific dominated the global market in 2017 and is expected to witness significant growth over the forecast period. The region is home to some of the largest crude oil-producing countries, such as China, India, Indonesia, and Malaysia. Rapid industrialization coupled with increasing energy demand from developing economies such as China and India are projected to drive regional growth over the coming years.
China has emerged as one of the major consumers of crude oil globally owing to its rapidly expanding industrial sector along with a growing population that requires high levels of energy consumption per capita. These factors have resulted in an increase in domestic fuel production through various means including shale gas exploration and coal bed methane extraction which will positively influence product demand across Asia Pacific over the next eight years.
Growth Factors:
- Increasing demand from emerging markets: As the global economy continues to grow, so does demand for energy, including crude oil. Emerging markets are expected to account for the majority of global growth in the coming years, which will help drive up demand for crude oil.
- Limited supply: The world's oil reserves are finite, and production is becoming more difficult and expensive to extract as supplies dwindle. This is likely to lead to higher prices over time as demand continues to outpace supply.
- geopolitical instability: Unstable political environments can lead to disruptions in crude oil production and delivery, causing prices to spike temporarily. For example, recent conflicts in Iraq have led to concerns about potential disruptions in supply and have contributed significantlyto price volatility in recent months .
Scope Of The Report
Report Attributes
Report Details
Report Title
Crude Oil Market Research Report
By Type
Light Distillates, Light Oils, Medium Oils, Heavy Fuel Oil
By Application
Transportation Fuel, Ethylene, Acrylic, Butadiene, Benzene, Toluene, Others
By Companies
Saudi Aramco, China National Petroleum Corporation, BP, Exxon Mobil, Total SA, Chevron Corporation, Lukoil, ONGC, Gazprom, Rosneft, Saudi Aramco, JX Holdings, Phillips 66, Marathon Petroleum, Petrobras, Pemex, Equinor, Kuwait Petroleum Corporation
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
137
Number of Tables & Figures
96
Customization Available
Yes, the report can be customized as per your need.
Global Crude Oil Market Report Segments:
The global Crude Oil market is segmented on the basis of:
Types
Light Distillates, Light Oils, Medium Oils, Heavy 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 Fuel, Ethylene, Acrylic, Butadiene, Benzene, Toluene, Others
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:
- Saudi Aramco
- China National Petroleum Corporation
- BP
- Exxon Mobil
- Total SA
- Chevron Corporation
- Lukoil
- ONGC
- Gazprom
- Rosneft
- Saudi Aramco
- JX Holdings
- Phillips 66
- Marathon Petroleum
- Petrobras
- Pemex
- Equinor
- Kuwait Petroleum Corporation
Highlights of The Crude 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:
- Light Distillates
- Light Oils
- Medium Oils
- Heavy Fuel Oil
- By Application:
- Transportation Fuel
- Ethylene
- Acrylic
- Butadiene
- Benzene
- Toluene
- Others
- 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 Crude 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?
Crude oil is a type of petroleum that has not been refined.
Some of the key players operating in the crude oil market are Saudi Aramco, China National Petroleum Corporation, BP, Exxon Mobil, Total SA, Chevron Corporation, Lukoil, ONGC, Gazprom, Rosneft, Saudi Aramco, JX Holdings, Phillips 66, Marathon Petroleum, Petrobras, Pemex, Equinor, Kuwait Petroleum Corporation.
The crude oil market is expected to register a CAGR of 5.8%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Crude Oil Market Overview
4.1 Introduction
4.1.1 Market Taxonomy
4.1.2 Market Definition
4.1.3 Macro-Economic Factors Impacting the Market Growth
4.2 Crude Oil Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Crude Oil Market - Supply Chain Analysis
4.3.1 List of Key Suppliers
4.3.2 List of Key Distributors
4.3.3 List of Key Consumers
4.4 Key Forces Shaping the Crude Oil Market
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitution
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
4.5 Global Crude Oil Market Size & Forecast, 2020-2028
4.5.1 Crude Oil Market Size and Y-o-Y Growth
4.5.2 Crude Oil Market Absolute $ Opportunity
Chapter 5 Global Market Analysis and Forecast by Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Type
5.1.2 Basis Point Share (BPS) Analysis by Type
5.1.3 Absolute $ Opportunity Assessment by Type
5.2 Market Size Forecast by Type
5.2.1 Light Distillates
5.2.2 Light Oils
5.2.3 Medium Oils
5.2.4 Heavy Fuel Oil
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Market Analysis and Forecast by Applications
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Applications
6.1.2 Basis Point Share (BPS) Analysis by Applications
6.1.3 Absolute $ Opportunity Assessment by Applications
6.2 Market Size Forecast by Applications
6.2.1 Transportation Fuel
6.2.2 Ethylene
6.2.3 Acrylic
6.2.4 Butadiene
6.2.5 Benzene
6.2.6 Toluene
6.2.7 Others
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Crude Oil Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 Crude Oil Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America Analysis and Forecast
9.1 Introduction
9.2 North America Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America Market Size Forecast by Type
9.6.1 Light Distillates
9.6.2 Light Oils
9.6.3 Medium Oils
9.6.4 Heavy Fuel Oil
9.7 Basis Point Share (BPS) Analysis by Type
9.8 Absolute $ Opportunity Assessment by Type
9.9 Market Attractiveness Analysis by Type
9.10 North America Market Size Forecast by Applications
9.10.1 Transportation Fuel
9.10.2 Ethylene
9.10.3 Acrylic
9.10.4 Butadiene
9.10.5 Benzene
9.10.6 Toluene
9.10.7 Others
9.11 Basis Point Share (BPS) Analysis by Applications
9.12 Absolute $ Opportunity Assessment by Applications
9.13 Market Attractiveness Analysis by Applications
Chapter 10 Europe Analysis and Forecast
10.1 Introduction
10.2 Europe Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe Market Size Forecast by Type
10.6.1 Light Distillates
10.6.2 Light Oils
10.6.3 Medium Oils
10.6.4 Heavy Fuel Oil
10.7 Basis Point Share (BPS) Analysis by Type
10.8 Absolute $ Opportunity Assessment by Type
10.9 Market Attractiveness Analysis by Type
10.10 Europe Market Size Forecast by Applications
10.10.1 Transportation Fuel
10.10.2 Ethylene
10.10.3 Acrylic
10.10.4 Butadiene
10.10.5 Benzene
10.10.6 Toluene
10.10.7 Others
10.11 Basis Point Share (BPS) Analysis by Applications
10.12 Absolute $ Opportunity Assessment by Applications
10.13 Market Attractiveness Analysis by Applications
Chapter 11 Asia Pacific Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific Market Size Forecast by Type
11.6.1 Light Distillates
11.6.2 Light Oils
11.6.3 Medium Oils
11.6.4 Heavy Fuel Oil
11.7 Basis Point Share (BPS) Analysis by Type
11.8 Absolute $ Opportunity Assessment by Type
11.9 Market Attractiveness Analysis by Type
11.10 Asia Pacific Market Size Forecast by Applications
11.10.1 Transportation Fuel
11.10.2 Ethylene
11.10.3 Acrylic
11.10.4 Butadiene
11.10.5 Benzene
11.10.6 Toluene
11.10.7 Others
11.11 Basis Point Share (BPS) Analysis by Applications
11.12 Absolute $ Opportunity Assessment by Applications
11.13 Market Attractiveness Analysis by Applications
Chapter 12 Latin America Analysis and Forecast
12.1 Introduction
12.2 Latin America Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America Market Size Forecast by Type
12.6.1 Light Distillates
12.6.2 Light Oils
12.6.3 Medium Oils
12.6.4 Heavy Fuel Oil
12.7 Basis Point Share (BPS) Analysis by Type
12.8 Absolute $ Opportunity Assessment by Type
12.9 Market Attractiveness Analysis by Type
12.10 Latin America Market Size Forecast by Applications
12.10.1 Transportation Fuel
12.10.2 Ethylene
12.10.3 Acrylic
12.10.4 Butadiene
12.10.5 Benzene
12.10.6 Toluene
12.10.7 Others
12.11 Basis Point Share (BPS) Analysis by Applications
12.12 Absolute $ Opportunity Assessment by Applications
12.13 Market Attractiveness Analysis by Applications
Chapter 13 Middle East & Africa (MEA) Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Market Size 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 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) Market Size Forecast by Type
13.6.1 Light Distillates
13.6.2 Light Oils
13.6.3 Medium Oils
13.6.4 Heavy Fuel Oil
13.7 Basis Point Share (BPS) Analysis by Type
13.8 Absolute $ Opportunity Assessment by Type
13.9 Market Attractiveness Analysis by Type
13.10 Middle East & Africa (MEA) Market Size Forecast by Applications
13.10.1 Transportation Fuel
13.10.2 Ethylene
13.10.3 Acrylic
13.10.4 Butadiene
13.10.5 Benzene
13.10.6 Toluene
13.10.7 Others
13.11 Basis Point Share (BPS) Analysis by Applications
13.12 Absolute $ Opportunity Assessment by Applications
13.13 Market Attractiveness Analysis by Applications
Chapter 14 Competition Landscape
14.1 Crude Oil Market: Competitive Dashboard
14.2 Global Crude Oil Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 Saudi Aramco
14.3.2 China National Petroleum Corporation
14.3.3 BP
14.3.4 Exxon Mobil
14.3.5 Total SA
14.3.6 Chevron Corporation
14.3.7 Lukoil
14.3.8 ONGC
14.3.9 Gazprom
14.3.10 Rosneft
14.3.11 Saudi Aramco
14.3.12 JX Holdings
14.3.13 Phillips 66
14.3.14 Marathon Petroleum
14.3.15 Petrobras
14.3.16 Pemex
14.3.17 Equinor
14.3.18 Kuwait Petroleum Corporation
