The crude oil market has the potential to grow by 4781.60 million barrels during 2021-2025, and the market’s growth momentum will decelerate at a CAGR of 2.73%.
This crude oil market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers market segmentation by production area (onshore and offshore) and geography (APAC, North America, Europe, MEA, and South America). The report also offers information on several market vendors, including BP Plc, Chevron Corp., and ConocoPhillips Co., among others.
What will the Crude Oil Market Size be in 2021?
Browse TOC and LoE with selected illustrations and example pages of Crude Oil Market
Crude Oil Market: Key Drivers and Trends
Based on our research output, there has been a negative impact on the market growth during and post COVID-19 era. The increasing upstream investment is notably driving the crude oil market growth, although factors such as fluctuations in global crude oil prices may impede market growth. To unlock information on the key market drivers and the COVID-19 pandemic impact on the crude oil industry get your FREE report sample now.
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This crude oil market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. Get detailed insights on the trends and challenges, which will help companies evaluate and develop growth strategies.
Who are the Major Crude Oil Market Vendors?
The report analyzes the market’s competitive landscape and offers information on several market vendors, including:
- BP Plc
- Chevron Corp.
- ConocoPhillips Co.
- Exxon Mobil Corp.
- PetroChina Co. Ltd.
- Petroleo Brasileiro SA
- Qatar Petroleum
- Rosneft Oil Co.
- Royal Dutch Shell Plc
- Saudi Arabian Oil Co.
The crude oil market is fragmented and the vendors are deploying various organic and inorganic growth strategies to compete in the market. Click here to uncover other successful business strategies deployed by the vendors.
To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
Download a free sample of the crude oil market forecast report for insights on complete key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.
Which are the Key Regions for Crude Oil Market?
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44% of the market’s growth will originate from APAC during the forecast period. China, India, and Japan are the key markets for crude oil in APAC. Market growth in this region will be faster than the growth of the market in Europe, North America, and South America.
To garner further competitive intelligence and regional opportunities in store for vendors, view our sample report.
What are the Revenue-generating Production Area Segments in the Crude Oil Market?
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The crude oil market share growth by the onshore segment will be significant during the forecast period. In onshore exploration and production operations, the operating cost of drilling activities is relatively lower compared with offshore operations. This is because offshore operations require advanced technologies and equipment for drilling deep wells in harsh environments. Therefore, crude oil exploration and production companies are increasing their investments in onshore exploration and production projects to gain profit margins.
Besides the above-mentioned factors, the post COVID-19 impact has brought forth a slowdown in the onshore segment growth owing to the deep plunge in oil demand. Fetch actionable market insights on post COVID-19 impact on each segment. This report provides an accurate prediction of the contribution of all the segments to the growth of the crude oil market size.
What are the Key Factors Covered in this Crude Oil Market Report?
- CAGR of the market during the forecast period 2021-2025
- Detailed information on factors that will drive crude oil market growth during the next five years
- Precise estimation of the crude oil market size and its contribution to the parent market
- Accurate predictions on upcoming trends and changes in consumer behavior
- The growth of the crude oil industry across APAC, North America, Europe, MEA, and South America
- A thorough analysis of the market’s competitive landscape and detailed information on vendors
- Comprehensive details of factors that will challenge the growth of crude oil market vendors
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Crude Oil Market Scope |
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Report Coverage |
Details |
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Page number |
120 |
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Base year |
2020 |
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Forecast period |
2021-2025 |
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Growth momentum & CAGR |
Decelerate at a CAGR of 3% |
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Market growth 2021-2025 |
4781.60 mn barrels |
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Market structure |
Fragmented |
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YoY growth (%) |
6.04 |
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Regional analysis |
APAC, North America, Europe, MEA, and South America |
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Performing market contribution |
APAC at 44% |
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Key consumer countries |
US, China, India, Russian Federation, and Japan |
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Competitive landscape |
Leading companies, competitive strategies, consumer engagement scope |
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Companies profiled |
BP Plc, Chevron Corp., ConocoPhillips Co., Exxon Mobil Corp., PetroChina Co. Ltd., Petroleo Brasileiro SA, Qatar Petroleum, Rosneft Oil Co., Royal Dutch Shell Plc, and Saudi Arabian Oil Co. |
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Market Dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and future consumer dynamics, market condition analysis for forecast period, |
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Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |