logo
logo
Sign in

Global Crude Oil Market Report 2024: Growth Rate, Major Segments And Regions

avatar
saikiran TBRC
Global Crude Oil Market Report 2024: Growth Rate, Major Segments And Regions

The Crude Oil Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions - Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).


Learn More On The Crude Oil Market:

https://www.thebusinessresearchcompany.com/report/crude-oil-global-market-report 


According to The Business Research Company’s Crude Oil Global Market Report 2024, The crude oil market size has grown strongly in recent years. It will grow from $2829.69 billion in 2023 to $2998.39 billion in 2024 at a compound annual growth rate (CAGR) of 6.0%. The growth in the historic period can be attributed to industrialization and economic growth, transportation sector, petrochemical industry, electricity generation, global energy demand.

The crude oil market size is expected to see strong growth in the next few years. It will grow to $3655.81 billion in 2028 at a compound annual growth rate (CAGR) of 5.1%. The growth in the forecast period can be attributed to rising transportation evolution, petrochemical industry expansion, energy transition challenges, global economic development, geopolitical factors. Major trends in the forecast period include resilience in oil markets amid energy transitions, shifting investment trends towards renewable energy, diversification in downstream operations, global efforts for energy security and independence, consumer behavior changes impacting transportation demand.

This can be attributed to the rising demand for fossil fuels to cater to energy needs from around the world, especially in developing countries such as China and India, and the expected stabilization of oil and gas prices. Fossil fuels are made from decomposing plants and animals. These fuels are found in the Earth’s crust and contain carbon and hydrogen, which can be burned for energy. Crude oil or petroleum is a liquid fossil fuel made up mostly of hydrocarbons (hydrogen and carbon compounds). Oil can be found in underground reservoirs; in the cracks, crevices, and pores of sedimentary rock; or in tar sands near the earth’s surface For instance, in February 2023, according to the International Energy Agency, a France-based autonomous intergovernmental organization, the global contribution of renewable energy in the power generation mix is projected to increase from 29% to 35% by the year 2025. Therefore, the rising demand for fossil fuels to cater to energy needs from around the world is driving the growth of the crude oil market.


Get A Free Sample Of The Report (Includes Graphs And Tables):

https://www.thebusinessresearchcompany.com/sample.aspx?id=2103&type=smp 


1) By Type: Transport, Industrial, Other Types

2) By Derivatives: Paraffin, Naphthene, Aromatic, Asphaltic

3) By Nature: Organic, Conventional


Digital oilfield technology is recently being used by Oil and gas extraction companies, to enhance oil and gas production. Digital technologies in oil fields include high-performance drill bits, advanced electrical submersible pumps, and 3D seismic imaging and reservoir modelling. Oilfields digitization facilitates efficient utilization of human resources and thus optimizes the profitability of oil production by ten percentage points.

The crude oil market report table of contents includes:

1. Executive Summary

2.Crude Oil Market Characteristics

3. Crude Oil Market Trends And Strategies

4.Crude Oil Market analysis

5. Crude Oil Market Size And Growth

6.Crude Oil Segmentation

7.Crude Oil Regional And Country Analysis

.

.

.

27. Crude Oil Competitive Landscape And Company Profiles

28. Crude Oil Key Mergers And Acquisitions

29. Crude Oil Future Outlook and Potential Analysis

TOP MAJOR PLAYERS:

  • Saudi Arabian Oil Company
  • China National Petroleum Corporation
  • China Petroleum & Chemical Corporation
  • PetroChina Company Limited
  • Exxon Mobil Corporation


Contact Us:

The Business Research Company

Europe: +44 207 1930 708

Asia: +91 88972 63534

Americas: +1 315 623 0293

Email: [email protected] 

Follow Us On:

LinkedIn: https://in.linkedin.com/company/the-business-research-company 

Twitter: https://twitter.com/tbrc_info 

Facebook: https://www.facebook.com/TheBusinessResearchCompany 

YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ 

Blog: https://blog.tbrc.info/ 

Healthcare Blog: https://healthcareresearchreports.com/ 

Global Market Model: https://www.thebusinessresearchcompany.com/global-market-model 

collect
0
avatar
saikiran TBRC
guide
Zupyak is the world’s largest content marketing community, with over 400 000 members and 3 million articles. Explore and get your content discovered.
Read more