Product Code: A47256
The global conventional oil market is anticipated to reach $4,690.2 billion by 2031, growing from $2,494 billion in 2021 at a CAGR of 6.4% from 2022 to 2031.
Conventional oil is preferred for older engines since synthetic oil has the potential to break down and cause oil valves to leak. Several manufacturers advise using conventional oil as synthetic oil is frequently used only in high-end vehicles and trucks. Automakers often utilize conventional oil while manufacturing their own brand of vehicles. These factors are projected to drive the conventional oil market share in the future.
Conventional oil protects the engine well, but it does contain harmful pollutants. Conventional oil is made by refining it to provide crude oil with the properties needed for lubricating an engine. Conventional oil contains some intrinsic irregularity in its molecular structure, nevertheless, as it is produced through a natural process. These impurities could increase friction and hasten the oil's decomposition. On the other hand, fully synthetic oil with a more regular molecular structure is used to manufacture synthetic oil. Synthetic oil will last longer and function better in challenging settings as a result. All of these issues are anticipated to hinder the market demand for conventional oil during the forecast years.
The development of advanced conventional oil-based engine oil has been prompted by the rise in and application of cutting-edge technology on the global market. The increase in the use of cutting-edge fuel and lubricant technology is helping in the creation of improved engine oil for automotive applications. These continuous advancements are expected to fuel market expansion during the forecast period.
COVID-19 had a negative influence on the automobile engine oil market due to the severe lockdowns and social distancing norms implemented to contain the virus's spread. Economic instability, a partial corporate shutdown, and poor consumer confidence all hampered demand for vehicle engine oil. During the pandemic, the supply chain was affected due to delays in logistics activities. The world economy and oil markets are recouping from the historic drop in demand induced by the COVID-19 pandemic. The massive inventory surplus that accumulated in the year 2020 is being depleted, and global oil stockpiles, excluding strategic reserves, were returned to pre-pandemic levels in 2021. Nonetheless, there may be no return to a normal level for the oil market in the post-pandemic period.
The key players profiled in this report include: BP, Chevron, Eni, ExxonMobil, Shell, Total, CNPC, Equinor, Petrobras, and Repsol.
Key Benefits For Stakeholders
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the conventional oil market analysis from 2021 to 2031 to identify the prevailing conventional oil market opportunities.
- The market research is offered along with information related to key drivers, restraints, and opportunities.
- Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the conventional oil market segmentation assists to determine the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global market.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report includes the analysis of the regional as well as global conventional oil market trends, key players, market segments, application areas, and market growth strategies.
Key Market Segments
By Type
- Light Distillate
- Middle Distillates
- Heavy Ends
- Others
By Sulphur Content
By End-user Industry
- Automotive
- Chemical
- Power
- Industrial
- Others
By Region
- North America
- Europe
- Germany
- UK
- Norway
- Turkey
- Italy
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- Indonesia
- Australia
- Rest of Asia-Pacific
- LAMEA
- Brazil
- Saudi Arabia
- United Arab Emirates
- Algeria
- Rest of LAMEA
Key Market Players
- BP p.l.c.
- Chevron Corporation
- Eni
- Exxon Mobil Corporation
- Shell Plc.
- TotalEnergies SE
- CNPC
- EQUINOR ASA
- PETROBRAS
- Repsol
TABLE OF CONTENTS
CHAPTER 1: INTRODUCTION
- 1.1. Report description
- 1.2. Key market segments
- 1.3. Key benefits to the stakeholders
- 1.4. Research Methodology
- 1.4.1. Primary research
- 1.4.2. Secondary research
- 1.4.3. Analyst tools and models
CHAPTER 2: EXECUTIVE SUMMARY
CHAPTER 3: MARKET OVERVIEW
- 3.1. Market definition and scope
- 3.2. Key findings
- 3.2.1. Top impacting factors
- 3.2.2. Top investment pockets
- 3.3. Porter's five forces analysis
- 3.4. Market dynamics
- 3.4.1. Drivers
- 3.4.2. Restraints
- 3.4.3. Opportunities
- 3.5. COVID-19 Impact Analysis on the market
- 3.6. Key Regulation Analysis
- 3.7. Market Share Analysis
- 3.8. Patent Landscape
- 3.9. Regulatory Guidelines
- 3.10. Value Chain Analysis
CHAPTER 4: CONVENTIONAL OIL MARKET, BY TYPE
- 4.1. Overview
- 4.1.1. Market size and forecast
- 4.2. Light Distillate
- 4.2.1. Key market trends, growth factors and opportunities
- 4.2.2. Market size and forecast, by region
- 4.2.3. Market share analysis by country
- 4.3. Middle Distillates
- 4.3.1. Key market trends, growth factors and opportunities
- 4.3.2. Market size and forecast, by region
- 4.3.3. Market share analysis by country
- 4.4. Heavy Ends
- 4.4.1. Key market trends, growth factors and opportunities
- 4.4.2. Market size and forecast, by region
- 4.4.3. Market share analysis by country
- 4.5. Others
- 4.5.1. Key market trends, growth factors and opportunities
- 4.5.2. Market size and forecast, by region
- 4.5.3. Market share analysis by country
CHAPTER 5: CONVENTIONAL OIL MARKET, BY SULPHUR CONTENT
- 5.1. Overview
- 5.1.1. Market size and forecast
- 5.2. Low Sulphur
- 5.2.1. Key market trends, growth factors and opportunities
- 5.2.2. Market size and forecast, by region
- 5.2.3. Market share analysis by country
- 5.3. High Sulphur
- 5.3.1. Key market trends, growth factors and opportunities
- 5.3.2. Market size and forecast, by region
- 5.3.3. Market share analysis by country
CHAPTER 6: CONVENTIONAL OIL MARKET, BY END-USER INDUSTRY
- 6.1. Overview
- 6.1.1. Market size and forecast
- 6.2. Automotive
- 6.2.1. Key market trends, growth factors and opportunities
- 6.2.2. Market size and forecast, by region
- 6.2.3. Market share analysis by country
- 6.3. Chemical
- 6.3.1. Key market trends, growth factors and opportunities
- 6.3.2. Market size and forecast, by region
- 6.3.3. Market share analysis by country
- 6.4. Power
- 6.4.1. Key market trends, growth factors and opportunities
- 6.4.2. Market size and forecast, by region
- 6.4.3. Market share analysis by country
- 6.5. Industrial
- 6.5.1. Key market trends, growth factors and opportunities
- 6.5.2. Market size and forecast, by region
- 6.5.3. Market share analysis by country
- 6.6. Others
- 6.6.1. Key market trends, growth factors and opportunities
- 6.6.2. Market size and forecast, by region
- 6.6.3. Market share analysis by country
CHAPTER 7: CONVENTIONAL OIL MARKET, BY REGION
- 7.1. Overview
- 7.1.1. Market size and forecast By Region
- 7.2. North America
- 7.2.1. Key trends and opportunities
- 7.2.2. Market size and forecast, by Type
- 7.2.3. Market size and forecast, by Sulphur Content
- 7.2.4. Market size and forecast, by End-user Industry
- 7.2.5. Market size and forecast, by country
- 7.2.5.1. U.S.
- 7.2.5.1.1. Key market trends, growth factors and opportunities
- 7.2.5.1.2. Market size and forecast, by Type
- 7.2.5.1.3. Market size and forecast, by Sulphur Content
- 7.2.5.1.4. Market size and forecast, by End-user Industry
- 7.2.5.2. Canada
- 7.2.5.2.1. Key market trends, growth factors and opportunities
- 7.2.5.2.2. Market size and forecast, by Type
- 7.2.5.2.3. Market size and forecast, by Sulphur Content
- 7.2.5.2.4. Market size and forecast, by End-user Industry
- 7.2.5.3. Mexico
- 7.2.5.3.1. Key market trends, growth factors and opportunities
- 7.2.5.3.2. Market size and forecast, by Type
- 7.2.5.3.3. Market size and forecast, by Sulphur Content
- 7.2.5.3.4. Market size and forecast, by End-user Industry
- 7.3. Europe
- 7.3.1. Key trends and opportunities
- 7.3.2. Market size and forecast, by Type
- 7.3.3. Market size and forecast, by Sulphur Content
- 7.3.4. Market size and forecast, by End-user Industry
- 7.3.5. Market size and forecast, by country
- 7.3.5.1. Germany
- 7.3.5.1.1. Key market trends, growth factors and opportunities
- 7.3.5.1.2. Market size and forecast, by Type
- 7.3.5.1.3. Market size and forecast, by Sulphur Content
- 7.3.5.1.4. Market size and forecast, by End-user Industry
- 7.3.5.2. UK
- 7.3.5.2.1. Key market trends, growth factors and opportunities
- 7.3.5.2.2. Market size and forecast, by Type
- 7.3.5.2.3. Market size and forecast, by Sulphur Content
- 7.3.5.2.4. Market size and forecast, by End-user Industry
- 7.3.5.3. Norway
- 7.3.5.3.1. Key market trends, growth factors and opportunities
- 7.3.5.3.2. Market size and forecast, by Type
- 7.3.5.3.3. Market size and forecast, by Sulphur Content
- 7.3.5.3.4. Market size and forecast, by End-user Industry
- 7.3.5.4. Turkey
- 7.3.5.4.1. Key market trends, growth factors and opportunities
- 7.3.5.4.2. Market size and forecast, by Type
- 7.3.5.4.3. Market size and forecast, by Sulphur Content
- 7.3.5.4.4. Market size and forecast, by End-user Industry
- 7.3.5.5. Italy
- 7.3.5.5.1. Key market trends, growth factors and opportunities
- 7.3.5.5.2. Market size and forecast, by Type
- 7.3.5.5.3. Market size and forecast, by Sulphur Content
- 7.3.5.5.4. Market size and forecast, by End-user Industry
- 7.3.5.6. Rest of Europe
- 7.3.5.6.1. Key market trends, growth factors and opportunities
- 7.3.5.6.2. Market size and forecast, by Type
- 7.3.5.6.3. Market size and forecast, by Sulphur Content
- 7.3.5.6.4. Market size and forecast, by End-user Industry
- 7.4. Asia-Pacific
- 7.4.1. Key trends and opportunities
- 7.4.2. Market size and forecast, by Type
- 7.4.3. Market size and forecast, by Sulphur Content
- 7.4.4. Market size and forecast, by End-user Industry
- 7.4.5. Market size and forecast, by country
- 7.4.5.1. China
- 7.4.5.1.1. Key market trends, growth factors and opportunities
- 7.4.5.1.2. Market size and forecast, by Type
- 7.4.5.1.3. Market size and forecast, by Sulphur Content
- 7.4.5.1.4. Market size and forecast, by End-user Industry
- 7.4.5.2. Japan
- 7.4.5.2.1. Key market trends, growth factors and opportunities
- 7.4.5.2.2. Market size and forecast, by Type
- 7.4.5.2.3. Market size and forecast, by Sulphur Content
- 7.4.5.2.4. Market size and forecast, by End-user Industry
- 7.4.5.3. India
- 7.4.5.3.1. Key market trends, growth factors and opportunities
- 7.4.5.3.2. Market size and forecast, by Type
- 7.4.5.3.3. Market size and forecast, by Sulphur Content
- 7.4.5.3.4. Market size and forecast, by End-user Industry
- 7.4.5.4. Indonesia
- 7.4.5.4.1. Key market trends, growth factors and opportunities
- 7.4.5.4.2. Market size and forecast, by Type
- 7.4.5.4.3. Market size and forecast, by Sulphur Content
- 7.4.5.4.4. Market size and forecast, by End-user Industry
- 7.4.5.5. Australia
- 7.4.5.5.1. Key market trends, growth factors and opportunities
- 7.4.5.5.2. Market size and forecast, by Type
- 7.4.5.5.3. Market size and forecast, by Sulphur Content
- 7.4.5.5.4. Market size and forecast, by End-user Industry
- 7.4.5.6. Rest of Asia-Pacific
- 7.4.5.6.1. Key market trends, growth factors and opportunities
- 7.4.5.6.2. Market size and forecast, by Type
- 7.4.5.6.3. Market size and forecast, by Sulphur Content
- 7.4.5.6.4. Market size and forecast, by End-user Industry
- 7.5. LAMEA
- 7.5.1. Key trends and opportunities
- 7.5.2. Market size and forecast, by Type
- 7.5.3. Market size and forecast, by Sulphur Content
- 7.5.4. Market size and forecast, by End-user Industry
- 7.5.5. Market size and forecast, by country
- 7.5.5.1. Brazil
- 7.5.5.1.1. Key market trends, growth factors and opportunities
- 7.5.5.1.2. Market size and forecast, by Type
- 7.5.5.1.3. Market size and forecast, by Sulphur Content
- 7.5.5.1.4. Market size and forecast, by End-user Industry
- 7.5.5.2. Saudi Arabia
- 7.5.5.2.1. Key market trends, growth factors and opportunities
- 7.5.5.2.2. Market size and forecast, by Type
- 7.5.5.2.3. Market size and forecast, by Sulphur Content
- 7.5.5.2.4. Market size and forecast, by End-user Industry
- 7.5.5.3. United Arab Emirates
- 7.5.5.3.1. Key market trends, growth factors and opportunities
- 7.5.5.3.2. Market size and forecast, by Type
- 7.5.5.3.3. Market size and forecast, by Sulphur Content
- 7.5.5.3.4. Market size and forecast, by End-user Industry
- 7.5.5.4. Algeria
- 7.5.5.4.1. Key market trends, growth factors and opportunities
- 7.5.5.4.2. Market size and forecast, by Type
- 7.5.5.4.3. Market size and forecast, by Sulphur Content
- 7.5.5.4.4. Market size and forecast, by End-user Industry
- 7.5.5.5. Rest of LAMEA
- 7.5.5.5.1. Key market trends, growth factors and opportunities
- 7.5.5.5.2. Market size and forecast, by Type
- 7.5.5.5.3. Market size and forecast, by Sulphur Content
- 7.5.5.5.4. Market size and forecast, by End-user Industry
CHAPTER 8: COMPETITIVE LANDSCAPE
- 8.1. Introduction
- 8.2. Top winning strategies
- 8.3. Product Mapping of Top 10 Player
- 8.4. Competitive Dashboard
- 8.5. Competitive Heatmap
- 8.6. Top player positioning, 2021
CHAPTER 9: COMPANY PROFILES
- 9.1. BP p.l.c.
- 9.1.1. Company overview
- 9.1.2. Key Executives
- 9.1.3. Company snapshot
- 9.2. Chevron Corporation
- 9.2.1. Company overview
- 9.2.2. Key Executives
- 9.2.3. Company snapshot
- 9.3. Eni
- 9.3.1. Company overview
- 9.3.2. Key Executives
- 9.3.3. Company snapshot
- 9.4. Exxon Mobil Corporation
- 9.4.1. Company overview
- 9.4.2. Key Executives
- 9.4.3. Company snapshot
- 9.5. Shell Plc.
- 9.5.1. Company overview
- 9.5.2. Key Executives
- 9.5.3. Company snapshot
- 9.6. TotalEnergies SE
- 9.6.1. Company overview
- 9.6.2. Key Executives
- 9.6.3. Company snapshot
- 9.7. CNPC
- 9.7.1. Company overview
- 9.7.2. Key Executives
- 9.7.3. Company snapshot
- 9.8. EQUINOR ASA
- 9.8.1. Company overview
- 9.8.2. Key Executives
- 9.8.3. Company snapshot
- 9.9. PETROBRAS
- 9.9.1. Company overview
- 9.9.2. Key Executives
- 9.9.3. Company snapshot
- 9.10. Repsol
- 9.10.1. Company overview
- 9.10.2. Key Executives
- 9.10.3. Company snapshot