Industry

Oil Refining Market Size and Forecasts (2021 - 2031), Global and Regional Share, Trends, and Growth Opportunity Analysis Report Coverage: By Complexity (Topping, Conversion, Deep Conversion); Fuel Type (Gasoline, Kerosene, LPG, Others); Application (Transportation, Aviation, Petrochemical, Others) , and Geography (North America, Europe, Asia Pacific, and South and Central America)

Report Code : 

TIPRE00027561

No. of Pages : 150
Published Month : Apr 2024
Category : Energy and Power

The Oil Refining Market is expected to register a CAGR of 2.1% from 2025 to 2031, with a market size expanding from US$ XX million in 2024 to US$ XX Million by 2031.

The report is divided into four sections: Deployment (Wired, Wireless), Technology (TDM, ATM, Ethernet), Services (Network Services, System Integration Services, Professional Services). The global analysis is broken down at the regional level and major countries. The market evaluation is presented in US$ for the above segmental analysis.

Purpose of the Report

The report Oil Refining Market by The Insight Partners aims to describe the present landscape and future growth, top driving factors, challenges, and opportunities. This will provide insights to various business stakeholders, such as:

  • Technology Providers/Manufacturers: To understand the evolving market dynamics and know the potential growth opportunities, enabling them to make informed strategic decisions.
  • Investors: To conduct a comprehensive trend analysis regarding the market growth rate, market financial projections, and opportunities that exist across the value chain.
  • Regulatory bodies: To regulate policies and police activities in the market with the aim of minimizing abuse, preserving investor trust and confidence, and upholding the integrity and stability of the market.

Oil Refining Market Segmentation

Complexity

  • Topping
  • Conversion
  • Deep Conversion

Fuel Type

  • Gasoline
  • Kerosene
  • LPG

Application

  • Transportation
  • Aviation
  • Petrochemical

Geography

  • North America
  • Europe
  • Asia-Pacific
  • South and Central America
  • Middle East and Africa

Oil Refining Market Growth Drivers

  • Increasing Global Demand for Transportation Fuels: The rising global population and economic growth are driving a surge in demand for transportation fuels like gasoline and diesel.
  • Petrochemical Demand: The petrochemical industry, which relies heavily on refined petroleum products as feedstock, is experiencing significant growth, boosting demand for refined products.
  • Government Regulations and Policies: Governments worldwide are implementing stricter regulations to improve fuel quality and reduce emissions. This necessitates upgrades and investments in refineries to meet these standards.

Oil Refining Market Future Trends

  • Focus on High-Value Products: Refineries are increasingly focusing on producing high-value products like petrochemicals and specialty fuels to maximize profitability.
  • Integration with Renewable Energy: The integration of renewable energy sources, such as biofuels, into the refining process can help reduce reliance on fossil fuels and meet sustainability goals.
  • Digital Transformation: The adoption of digital technologies, such as IoT and AI, can improve operational efficiency, optimize production processes, and enhance safety in refineries.

Oil Refining Market Opportunities

  • Emerging Markets: Developing countries with rapidly growing economies, such as India and China, offer significant growth opportunities for the oil refining industry.
  • Strategic Partnerships: Collaborations with other industry players, such as petrochemical companies and renewable energy providers, can create synergies and open up new business avenues.
  • Research and Development: Continuous investment in research and development can lead to innovative technologies, such as advanced refining processes and low-carbon fuels, driving market growth.

Oil Refining Market Regional Insights

The regional trends and factors influencing the Oil Refining Market throughout the forecast period have been thoroughly explained by the analysts at Insight Partners. This section also discusses Oil Refining Market segments and geography across North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America.

  • Get the Regional Specific Data for Oil Refining Market

Oil Refining Market Report Scope

Report Attribute Details
Market size in 2024 US$ XX million
Market Size by 2031 US$ XX Million
Global CAGR (2025 - 2031) 2.1%
Historical Data 2021-2023
Forecast period 2025-2031
Segments Covered By Complexity
  • Topping
  • Conversion
  • Deep Conversion
By Fuel Type
  • Gasoline
  • Kerosene
  • LPG
By Application
  • Transportation
  • Aviation
  • Petrochemical
Regions and Countries Covered North America
  • US
  • Canada
  • Mexico
Europe
  • UK
  • Germany
  • France
  • Russia
  • Italy
  • Rest of Europe
Asia-Pacific
  • China
  • India
  • Japan
  • Australia
  • Rest of Asia-Pacific
South and Central America
  • Brazil
  • Argentina
  • Rest of South and Central America
Middle East and Africa
  • South Africa
  • Saudi Arabia
  • UAE
  • Rest of Middle East and Africa
Market leaders and key company profiles
  • Indian Oil
  • Chevron
  • Shell
  • Exxon Mobil
  • Kuwait Petroleum International
  • Essar Oil
  • China National Petroleum Corporation
  • Total SA
  • Abu Dhabi National Oil Company

  • Oil Refining Market Players Density: Understanding Its Impact on Business Dynamics

    The Oil Refining Market market is growing rapidly, driven by increasing end-user demand due to factors such as evolving consumer preferences, technological advancements, and greater awareness of the product's benefits. As demand rises, businesses are expanding their offerings, innovating to meet consumer needs, and capitalizing on emerging trends, which further fuels market growth.

    Market players density refers to the distribution of firms or companies operating within a particular market or industry. It indicates how many competitors (market players) are present in a given market space relative to its size or total market value.

    Major Companies operating in the Oil Refining Market are:

    1. Indian Oil
    2. Chevron
    3. Shell
    4. Exxon Mobil
    5. Kuwait Petroleum International

    Disclaimer: The companies listed above are not ranked in any particular order.



    • Get the Oil Refining Market top key players overview

    Key Selling Points

    • Comprehensive Coverage: The report comprehensively covers the analysis of products, services, types, and end users of the Oil Refining Market, providing a holistic landscape.
    • Expert Analysis: The report is compiled based on the in-depth understanding of industry experts and analysts.
    • Up-to-date Information: The report assures business relevance due to its coverage of recent information and data trends.
    • Customization Options: This report can be customized to cater to specific client requirements and suit the business strategies aptly.

    The research report on the Oil Refining Market can, therefore, help spearhead the trail of decoding and understanding the industry scenario and growth prospects. Although there can be a few valid concerns, the overall benefits of this report tend to outweigh the disadvantages.

    The List of Companies

    1.Indian Oil
    2.Chevron
    3.Shell
    4.Exxon Mobil
    5.Kuwait Petroleum International
    6.Essar Oil
    7.China National Petroleum Corporation
    8.Total SA
    9.Abu Dhabi National Oil Company
    10.Kuwait Petroleum
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    Frequently Asked Questions

    What are the options available for the customization of this report? 

    Some of the customization options available based on request are additional 3–5 company profiles and country-specific analysis of 3–5 countries of your choice. Customizations are to be requested/discussed before making final order confirmation, as our team would review the same and check the feasibility.

    What are the deliverable formats of the Oil Refining Market report?

    The report can be delivered in PDF/PPT format; we can also share excel dataset based on the request.

    Which are the leading players operating in the Oil Refining Market?

    The leading players of the market are: Indian Oil, Chevron, Shell, Exxon Mobil, Kuwait Petroleum International, Essar Oil, China National Petroleum Corporation, Total SA, Abu Dhabi National Oil Company, Kuwait Petroleum

    What are the future trends of the Oil Refining Market?

    The future trends of the Oil Refining Market are: Focus on High-Value Products, Integration with Renewable Energy and Digital Transformation

    What is the expected CAGR of the Oil Refining Market?

    Oil Refining Market is expected to grow at a CAGR of 2.1% between 2023-2031

    What are the driving factors impacting the Oil Refining Market?

    The driving factors impacting the Oil Refining Market are: Increasing Global Demand for Transportation Fuels, Petrochemical Demand and Government Regulations and Policies