Crude Oil Market Scope and Size by 2031
Crude oil is a liquid found within the earth compromised of hydrocarbons, organic compounds and small amounts of sediments and metal. Crude oil extracted from the ground in its natural unrefined state varies considerably in its density and consistency, from a very thin and volatile liquid to an extremely thick, semi-solid heavy weight oil. Furthermore, the colour of crude oil extracted from the ground can range substantially, from a light golden yellow to a deep dark black.
MARKET DYNAMICS
Use of crude oil an oil power plant to generate electricity and crude oil can be store oil in barrels or tanks are driving the growth of crude oil market. However, use of crude oil in energy production results in the release of various gases may restrain the growth of crude oil market. Furthermore, the crude oil has one of the highest energy densities of all fossil fuels is anticipated to create a market opportunity for crude oil market during the forecast period.
MARKET SCOPE
The "Global Crude Oil Market Analysis To 2031" is a specialized and in-depth study of the energy and power industry with a special focus on the global market trend analysis. The crude oil market report aims to provide an overview of the crude oil market with detailed market segmentation by type, application, and geography. The global crude oil market is expected to witness high growth during the forecast period. The report provides key statistics on the market status of the leading crude oil market players and offers key trends and opportunities in the market.
MARKET SEGMENTATION
The global crude oil market is segmented on the basis of type and application. Based on type, the crude oil market is segmented into: very light oils, light oils, medium oils, and heavy fuel oils. On the basis of application, the crude oil market is segmented into: plastics, clothing materials, food production, transportation, and others.
REGIONAL FRAMEWORK
The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global crude oil market based on various segments. It also provides market size and forecast estimates from the year 2021 to 2031 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South & Central America. The crude oil market by each region is later sub-segmented by respective countries and segments. The crude oil market report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.
The report analyzes factors affecting the crude oil market from both demand and supply side and further evaluates market dynamics affecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis highlighting factors affecting the crude oil market in these regions.
IMPACT OF COVID-19 ON CRUDE OIL MARKET
The impact of the COVID-19 pandemic on the market is covered throughout the report. The pandemic had a negative impact on the crude oil market. Lockdown imposed due to the outbreak of the COVID-19 pandemic resulted in temporary ban on the import and export thereby, disrupting the supply chain, which, in turn, hampered the crude oil market growth in the second, third, and fourth quarter of 2021. However, the market recovered in the late year or by the first quarter of 2021 as the demand for crude oil from the maritime transport and shipping industry increased.
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The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global crude oil market based on various segments. It also provides market size and forecast estimates from the year 2021 to 2031 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South & Central America. The crude oil market by each region is later sub-segmented by respective countries and segments. The crude oil market report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.
The report analyzes factors affecting the crude oil market from both demand and supply side and further evaluates market dynamics affecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis highlighting factors affecting the crude oil market in these regions.
IMPACT OF COVID-19 ON CRUDE OIL MARKET
The impact of the COVID-19 pandemic on the market is covered throughout the report. The pandemic had a negative impact on the crude oil market. Lockdown imposed due to the outbreak of the COVID-19 pandemic resulted in temporary ban on the import and export thereby, disrupting the supply chain, which, in turn, hampered the crude oil market growth in the second, third, and fourth quarter of 2021. However, the market recovered in the late year or by the first quarter of 2021 as the demand for crude oil from the maritime transport and shipping industry increased.
MARKET PLAYERS
The reports cover key developments in the crude oil market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the market were acquisitions, and partnership & collaborations. These activities have paved way for the expansion of business and customer base of market players. The market players from crude oil market are anticipated to lucrative growth opportunities in the future with the rising demand for filter products in the global market. Below mentioned is the list of few companies engaged in the crude oil market.
The report also includes the profiles of key companies along with their SWOT analysis and market strategies in the crude oil market. In addition, the report focuses on leading industry players with information such as company profiles, components, and services offered, financial information of the last 3 years, the key development in the past five years.
- BP p.l.c.
- Chevron
- Daqing
- ExxonMobil
- Gazprom
- Kuwait Petroleum
- Onational Iranian
- Pemex
- PetroChina
- Saudi Aramco
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
- Request discounts available for Start-Ups & Universities
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
This text is related
to segments covered.
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
This text is related
to country scope.
TABLE OF CONTENTS
1. INTRODUCTION
1.1. SCOPE OF THE STUDY
1.2. THE INSIGHT PARTNERS RESEARCH REPORT GUIDANCE
1.3. MARKET SEGMENTATION
1.3.1 Crude Oil Market - By Type
1.3.2 Crude Oil Market - By Application
1.3.3 Crude Oil Market - By Region
1.3.3.1 By Country
2. KEY TAKEAWAYS
3. RESEARCH METHODOLOGY
4. CRUDE OIL MARKET LANDSCAPE
4.1. OVERVIEW
4.2. PEST ANALYSIS
4.2.1 North America - Pest Analysis
4.2.2 Europe - Pest Analysis
4.2.3 Asia-Pacific - Pest Analysis
4.2.4 Middle East and Africa - Pest Analysis
4.2.5 South and Central America - Pest Analysis
4.3. EXPERT OPINIONS
5. CRUDE OIL MARKET - KEY MARKET DYNAMICS
5.1. KEY MARKET DRIVERS
5.2. KEY MARKET RESTRAINTS
5.3. KEY MARKET OPPORTUNITIES
5.4. FUTURE TRENDS
5.5. IMPACT ANALYSIS OF DRIVERS AND RESTRAINTS
6. CRUDE OIL MARKET - GLOBAL MARKET ANALYSIS
6.1. CRUDE OIL - GLOBAL MARKET OVERVIEW
6.2. CRUDE OIL - GLOBAL MARKET AND FORECAST TO 2028
6.3. MARKET POSITIONING
7. CRUDE OIL MARKET - REVENUE AND FORECASTS TO 2028 - TYPE
7.1. OVERVIEW
7.2. TYPE MARKET FORECASTS AND ANALYSIS
7.3. VERY LIGHT OILS
7.3.1. Overview
7.3.2. Very Light Oils Market Forecast and Analysis
7.4. LIGHT OILS
7.4.1. Overview
7.4.2. Light Oils Market Forecast and Analysis
7.5. MEDIUM OILS
7.5.1. Overview
7.5.2. Medium Oils Market Forecast and Analysis
7.6. HEAVY FUEL OILS
7.6.1. Overview
7.6.2. Heavy Fuel Oils Market Forecast and Analysis
8. CRUDE OIL MARKET - REVENUE AND FORECASTS TO 2028 - APPLICATION
8.1. OVERVIEW
8.2. APPLICATION MARKET FORECASTS AND ANALYSIS
8.3. PLASTICS
8.3.1. Overview
8.3.2. Plastics Market Forecast and Analysis
8.4. CLOTHING MATERIALS
8.4.1. Overview
8.4.2. Clothing Materials Market Forecast and Analysis
8.5. FOOD PRODUCTION
8.5.1. Overview
8.5.2. Food Production Market Forecast and Analysis
8.6. TRANSPORTATION
8.6.1. Overview
8.6.2. Transportation Market Forecast and Analysis
8.7. OTHERS
8.7.1. Overview
8.7.2. Others Market Forecast and Analysis
9. CRUDE OIL MARKET REVENUE AND FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
9.1. NORTH AMERICA
9.1.1 North America Crude Oil Market Overview
9.1.2 North America Crude Oil Market Forecasts and Analysis
9.1.3 North America Crude Oil Market Forecasts and Analysis - By Type
9.1.4 North America Crude Oil Market Forecasts and Analysis - By Application
9.1.5 North America Crude Oil Market Forecasts and Analysis - By Countries
9.1.5.1 United States Crude Oil Market
9.1.5.1.1 United States Crude Oil Market by Type
9.1.5.1.2 United States Crude Oil Market by Application
9.1.5.2 Canada Crude Oil Market
9.1.5.2.1 Canada Crude Oil Market by Type
9.1.5.2.2 Canada Crude Oil Market by Application
9.1.5.3 Mexico Crude Oil Market
9.1.5.3.1 Mexico Crude Oil Market by Type
9.1.5.3.2 Mexico Crude Oil Market by Application
9.2. EUROPE
9.2.1 Europe Crude Oil Market Overview
9.2.2 Europe Crude Oil Market Forecasts and Analysis
9.2.3 Europe Crude Oil Market Forecasts and Analysis - By Type
9.2.4 Europe Crude Oil Market Forecasts and Analysis - By Application
9.2.5 Europe Crude Oil Market Forecasts and Analysis - By Countries
9.2.5.1 Germany Crude Oil Market
9.2.5.1.1 Germany Crude Oil Market by Type
9.2.5.1.2 Germany Crude Oil Market by Application
9.2.5.2 France Crude Oil Market
9.2.5.2.1 France Crude Oil Market by Type
9.2.5.2.2 France Crude Oil Market by Application
9.2.5.3 Italy Crude Oil Market
9.2.5.3.1 Italy Crude Oil Market by Type
9.2.5.3.2 Italy Crude Oil Market by Application
9.2.5.4 United Kingdom Crude Oil Market
9.2.5.4.1 United Kingdom Crude Oil Market by Type
9.2.5.4.2 United Kingdom Crude Oil Market by Application
9.2.5.5 Russia Crude Oil Market
9.2.5.5.1 Russia Crude Oil Market by Type
9.2.5.5.2 Russia Crude Oil Market by Application
9.2.5.6 Rest of Europe Crude Oil Market
9.2.5.6.1 Rest of Europe Crude Oil Market by Type
9.2.5.6.2 Rest of Europe Crude Oil Market by Application
9.3. ASIA-PACIFIC
9.3.1 Asia-Pacific Crude Oil Market Overview
9.3.2 Asia-Pacific Crude Oil Market Forecasts and Analysis
9.3.3 Asia-Pacific Crude Oil Market Forecasts and Analysis - By Type
9.3.4 Asia-Pacific Crude Oil Market Forecasts and Analysis - By Application
9.3.5 Asia-Pacific Crude Oil Market Forecasts and Analysis - By Countries
9.3.5.1 Australia Crude Oil Market
9.3.5.1.1 Australia Crude Oil Market by Type
9.3.5.1.2 Australia Crude Oil Market by Application
9.3.5.2 China Crude Oil Market
9.3.5.2.1 China Crude Oil Market by Type
9.3.5.2.2 China Crude Oil Market by Application
9.3.5.3 India Crude Oil Market
9.3.5.3.1 India Crude Oil Market by Type
9.3.5.3.2 India Crude Oil Market by Application
9.3.5.4 Japan Crude Oil Market
9.3.5.4.1 Japan Crude Oil Market by Type
9.3.5.4.2 Japan Crude Oil Market by Application
9.3.5.5 South Korea Crude Oil Market
9.3.5.5.1 South Korea Crude Oil Market by Type
9.3.5.5.2 South Korea Crude Oil Market by Application
9.3.5.6 Rest of Asia-Pacific Crude Oil Market
9.3.5.6.1 Rest of Asia-Pacific Crude Oil Market by Type
9.3.5.6.2 Rest of Asia-Pacific Crude Oil Market by Application
9.4. MIDDLE EAST AND AFRICA
9.4.1 Middle East and Africa Crude Oil Market Overview
9.4.2 Middle East and Africa Crude Oil Market Forecasts and Analysis
9.4.3 Middle East and Africa Crude Oil Market Forecasts and Analysis - By Type
9.4.4 Middle East and Africa Crude Oil Market Forecasts and Analysis - By Application
9.4.5 Middle East and Africa Crude Oil Market Forecasts and Analysis - By Countries
9.4.5.1 South Africa Crude Oil Market
9.4.5.1.1 South Africa Crude Oil Market by Type
9.4.5.1.2 South Africa Crude Oil Market by Application
9.4.5.2 Saudi Arabia Crude Oil Market
9.4.5.2.1 Saudi Arabia Crude Oil Market by Type
9.4.5.2.2 Saudi Arabia Crude Oil Market by Application
9.4.5.3 U.A.E Crude Oil Market
9.4.5.3.1 U.A.E Crude Oil Market by Type
9.4.5.3.2 U.A.E Crude Oil Market by Application
9.4.5.4 Rest of Middle East and Africa Crude Oil Market
9.4.5.4.1 Rest of Middle East and Africa Crude Oil Market by Type
9.4.5.4.2 Rest of Middle East and Africa Crude Oil Market by Application
9.5. SOUTH AND CENTRAL AMERICA
9.5.1 South and Central America Crude Oil Market Overview
9.5.2 South and Central America Crude Oil Market Forecasts and Analysis
9.5.3 South and Central America Crude Oil Market Forecasts and Analysis - By Type
9.5.4 South and Central America Crude Oil Market Forecasts and Analysis - By Application
9.5.5 South and Central America Crude Oil Market Forecasts and Analysis - By Countries
9.5.5.1 Brazil Crude Oil Market
9.5.5.1.1 Brazil Crude Oil Market by Type
9.5.5.1.2 Brazil Crude Oil Market by Application
9.5.5.2 Argentina Crude Oil Market
9.5.5.2.1 Argentina Crude Oil Market by Type
9.5.5.2.2 Argentina Crude Oil Market by Application
9.5.5.3 Rest of South and Central America Crude Oil Market
9.5.5.3.1 Rest of South and Central America Crude Oil Market by Type
9.5.5.3.2 Rest of South and Central America Crude Oil Market by Application
10. INDUSTRY LANDSCAPE
10.1. MERGERS AND ACQUISITIONS
10.2. AGREEMENTS, COLLABORATIONS AND JOIN VENTURES
10.3. NEW PRODUCT LAUNCHES
10.4. EXPANSIONS AND OTHER STRATEGIC DEVELOPMENTS
11. CRUDE OIL MARKET, KEY COMPANY PROFILES
11.1. BP P.L.C.
11.1.1. Key Facts
11.1.2. Business Description
11.1.3. Products and Services
11.1.4. Financial Overview
11.1.5. SWOT Analysis
11.1.6. Key Developments
11.2. CHEVRON
11.2.1. Key Facts
11.2.2. Business Description
11.2.3. Products and Services
11.2.4. Financial Overview
11.2.5. SWOT Analysis
11.2.6. Key Developments
11.3. DAQING
11.3.1. Key Facts
11.3.2. Business Description
11.3.3. Products and Services
11.3.4. Financial Overview
11.3.5. SWOT Analysis
11.3.6. Key Developments
11.4. EXXONMOBIL
11.4.1. Key Facts
11.4.2. Business Description
11.4.3. Products and Services
11.4.4. Financial Overview
11.4.5. SWOT Analysis
11.4.6. Key Developments
11.5. GAZPROM
11.5.1. Key Facts
11.5.2. Business Description
11.5.3. Products and Services
11.5.4. Financial Overview
11.5.5. SWOT Analysis
11.5.6. Key Developments
11.6. KUWAIT PETROLEUM
11.6.1. Key Facts
11.6.2. Business Description
11.6.3. Products and Services
11.6.4. Financial Overview
11.6.5. SWOT Analysis
11.6.6. Key Developments
11.7. NATIONAL IRANIAN
11.7.1. Key Facts
11.7.2. Business Description
11.7.3. Products and Services
11.7.4. Financial Overview
11.7.5. SWOT Analysis
11.7.6. Key Developments
11.8. PEMEX
11.8.1. Key Facts
11.8.2. Business Description
11.8.3. Products and Services
11.8.4. Financial Overview
11.8.5. SWOT Analysis
11.8.6. Key Developments
11.9. PETROCHINA
11.9.1. Key Facts
11.9.2. Business Description
11.9.3. Products and Services
11.9.4. Financial Overview
11.9.5. SWOT Analysis
11.9.6. Key Developments
11.10. SAUDI ARAMCO
11.10.1. Key Facts
11.10.2. Business Description
11.10.3. Products and Services
11.10.4. Financial Overview
11.10.5. SWOT Analysis
11.10.6. Key Developments
12. APPENDIX
12.1. ABOUT THE INSIGHT PARTNERS
12.2. GLOSSARY OF TERMS
- BP p.l.c.
- Chevron
- Daqing
- ExxonMobil
- Gazprom
- Kuwait Petroleum
- National Iranian
- Pemex
- PetroChina
- Saudi Aramco
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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