Global Vacuum Gas Oil Market 2024-2028
The vacuum gas oil market is forecasted to grow by USD 115.5 bn during 2023-2028, accelerating at a CAGR of 5.15% during the forecast period. The report on the vacuum gas oil market provides a holistic analysis, market size and forecast, trends, growth drivers, and challenges, as well as vendor analysis covering around 25 vendors.
The report offers an up-to-date analysis regarding the current market scenario, the latest trends and drivers, and the overall market environment. The market is driven by increase in demand for gasoline and diesel, rising demand for fossil fuels across various industries, and rise in use of vacuum gas oil in supplier bunker fuels aids.
Technavio's vacuum gas oil market is segmented as below:
- By Product
- Lower sulphur content
- High sulphur content
- By Type
- Light VGO
- Heavy VGO
- By Geographical Landscape
- North America
- APAC
- Middle East and Africa
- Europe
- South America
This study identifies the rise in refinery upgradation in oil and gas industry as one of the prime reasons driving the vacuum gas oil market growth during the next few years. Also, increase in use of diesel indirectly and rise in growth of automotive industry will lead to sizable demand in the market.
The report on the vacuum gas oil market covers the following areas:
- Vacuum gas oil market sizing
- Vacuum gas oil market forecast
- Vacuum gas oil market industry analysis
The robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading vacuum gas oil market vendors that include Abu Dhabi National Oil Co., BP Plc, Chevron Corp., China National Petroleum Corp., Eni SpA, Exxon Mobil Corp., Hess Corp., Indian Oil Corp. Ltd., Kuwait Petroleum Corp., Marathon Petroleum Corp., Occidental Petroleum Corp., Petroleos Mexicanos, Phillips 66, PJSC LUKOIL, Repsol SA, Rosneft Oil Co., Saudi Arabian Oil Co., Shell plc, Sinopec Shanghai Petrochemical Co. Ltd., and TotalEnergies SE. Also, the vacuum gas oil market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage all forthcoming growth opportunities.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to an analysis of the key vendors.
The publisher presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources by an analysis of key parameters such as profit, pricing, competition, and promotions. It presents various market facets by identifying the key industry influencers. The data presented is comprehensive, reliable, and a result of extensive primary and secondary research. The market research reports provide a complete competitive landscape and an in-depth vendor selection methodology and analysis using qualitative and quantitative research to forecast accurate market growth.