Oil & Gas in South Korea
Summary
Oil & Gas in South Korea industry profile provides top-line qualitative and quantitative summary information including: market size (value 2018-23, and forecast to 2028). The profile also contains descriptions of the leading players including key financial metrics and analysis of competitive pressures within the market.
Key Highlights
- The oil and gas market volume is defined as the total consumption (barrels of oil equivalent) of refined petroleum products and natural gas by end-users in each country. The value of the oil segment reflects the total volume of refined petroleum products, including refinery consumption and losses, multiplied by the average retail price of gasoline and diesel taken together. The value of the gas segment is calculated as the total volume of natural gas consumed multiplied by the retail price of natural gas.
- The South Korean oil & gas market recorded revenues of $201.9 billion in 2023, representing a negative compound annual growth rate (CAGR) of 1.7% between 2018 and 2023.
- Market consumption volume increased with a CAGR of 1% between 2018 and 2023, to reach a total of 1,452.1 million BoE in 2023.
- The contraction in the oil & gas market in recent years can be attributed to the growing sales of electric vehicles. According to MarketLine, the South Korean hybrid and electric cars market stood at $16.4 billion in 2023, an increase of 14.3% from the previous year.
- Save time carrying out entry-level research by identifying the size, growth, major segments, and leading players in the oil & gas market in South Korea
- Use the Five Forces analysis to determine the competitive intensity and therefore attractiveness of the oil & gas market in South Korea
- Leading company profiles reveal details of key oil & gas market players’ global operations and financial performance
- Add weight to presentations and pitches by understanding the future growth prospects of the South Korea oil & gas market with five year forecasts
- What was the size of the South Korea oil & gas market by value in 2023?
- What will be the size of the South Korea oil & gas market in 2028?
- What factors are affecting the strength of competition in the South Korea oil & gas market?
- How has the market performed over the last five years?
- What are the main segments that make up South Korea's oil & gas market?
- 1 Executive Summary
- 1.1. Market value
- 1.2. Market value forecast
- 1.3. Category segmentation
- 1.4. Geography segmentation
- 1.5. Market rivalry
- 1.6. Competitive landscape
- 2 Market Overview
- 2.1. Market definition
- 2.2. Market analysis
- 3 Market Data
- 3.1. Market value
- 4 Market Segmentation
- 4.1. Category segmentation
- 4.2. Geography segmentation
- 5 Market Outlook
- 5.1. Market value forecast
- 6 Five Forces Analysis
- 6.1. Summary
- 6.2. Buyer power
- 6.3. Supplier power
- 6.4. New entrants
- 6.5. Threat of substitutes
- 6.6. Degree of rivalry
- 7 Competitive Landscape
- 7.1. Who are the leading players?
- 7.2. What strategies do the leading players follow?
- 7.3. What are the strengths of the leading player?
- 7.4. What is the rationale behind recent M&A activity?
- 8 Company Profiles
- 8.1. S-Oil Corporation Inc
- 8.2. Korea Gas Corp
- 8.3. Chevron Corporation
- 9 Macroeconomic Indicators
- 9.1. Country data
- 10 Appendix
- 10.1. Methodology
- 10.2. Industry associations
- 10.3. About MarketLine
- List of Tables
- Table 1: South Korea oil & gas market value: $ million, 2018-23
- Table 2: South Korea oil & gas market category segmentation: % share, by value, 2018-2023
- Table 3: South Korea oil & gas market category segmentation: $ million, 2018-2023
- Table 4: South Korea oil & gas market geography segmentation: $ million, 2023
- Table 5: South Korea oil & gas market value forecast: $ million, 2023-28
- Table 6: S-Oil Corporation Inc: key facts
- Table 7: S-Oil Corporation Inc: Annual Financial Ratios
- Table 8: S-Oil Corporation Inc: Key Employees
- Table 9: Korea Gas Corp: key facts
- Table 10: Korea Gas Corp: Annual Financial Ratios
- Table 11: Korea Gas Corp: Key Employees
- Table 12: Chevron Corporation: key facts
- Table 13: Chevron Corporation: Annual Financial Ratios
- Table 14: Chevron Corporation: Key Employees
- Table 15: Chevron Corporation: Key Employees Continued
- Table 16: South Korea size of population (million), 2019-23
- Table 17: South Korea gdp (constant 2005 prices, $ billion), 2019-23
- Table 18: South Korea gdp (current prices, $ billion), 2019-23
- Table 19: South Korea inflation, 2019-23
- Table 20: South Korea consumer price index (absolute), 2019-23
- Table 21: South Korea exchange rate, 2019-23
- List of Figures
- Figure 1: South Korea oil & gas market value: $ million, 2018-23
- Figure 2: South Korea oil & gas market category segmentation: $ million, 2018-2023
- Figure 3: South Korea oil & gas market geography segmentation: % share, by value, 2023
- Figure 4: South Korea oil & gas market value forecast: $ million, 2023-28
- Figure 5: Forces driving competition in the oil & gas market in South Korea, 2023
- Figure 6: Drivers of buyer power in the oil & gas market in South Korea, 2023
- Figure 7: Drivers of supplier power in the oil & gas market in South Korea, 2023
- Figure 8: Factors influencing the likelihood of new entrants in the oil & gas market in South Korea, 2023
- Figure 9: Factors influencing the threat of substitutes in the oil & gas market in South Korea, 2023
- Figure 10: Drivers of degree of rivalry in the oil & gas market in South Korea, 2023
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