Oil Refining Market: Global Market Size, Forecast, Insights, Segmentation, and Competitive Landscape with Impact of COVID-19 & Russia-Ukraine War
The global oil refining market is expected to grow at a CAGR of around 5.2% during 2025-2034. This report on global oil refining market report provides holistic understanding of the market along with market sizing, forecast, drivers, challenges, and competitive landscape. The report presents a clear picture of the global oil refining market by segmenting the market based on product type, fuel type, application and region. Also, detailed profiles of companies operating in the oil refining market are provided in this report. We believe that this report will aid the professionals and industry stakeholders in making informed decision.
Market Drivers
• Increasing Market for Petroleum Products
Market Challenges
• Lower Margins
Historical & Forecast Period
Base Year: 2024
Historical Period: 2020-2024
Forecast Period: 2025-2034
Market by Product Type
• Light Distillates
• Middle Distillates
• Fuel Oil
• Others
Market by Fuel Type
• Gasoline
• Gasoil
• Kerosene
• LPG
• Others
Market by Application
• Transportation
• Aviation
• Marine Bunker
• Petrochemical
• Residential & Commercial
• Agriculture
• Electricity
• Rail & Domestic Waterways
• Others
Market by Region
• Europe
Germany
United Kingdom
France
Italy
Spain
Russia
Netherlands
Rest of Europe
• North America
United States
Canada
• Asia Pacific
China
Japan
India
South Korea
Australia
Indonesia
Rest of Asia Pacific
• Latin America
Mexico
Brazil
Argentina
Rest of Latin America
• Middle East & Africa
Saudi Arabia
Turkey
Iran
United Arab Emirates
Rest of Middle East & Africa
- 1. Preface
- 1.1 Objective
- 1.2 Target Audience & Key Offerings
- 1.3 Report’s Scope
- 1.4 Research Methodology
- 1.4.1 Phase I
- 1.4.2 Phase II
- 1.4.3 Phase III
- 1.5 Assumptions
- 2. Key Insights
- 3. Global Oil Refining Market
- 3.1. Introduction
- 3.2. Market Drivers
- 3.3. Market Challenges
- 4. Global Oil Refining Market Analysis
- 4.1. Market Portraiture
- 4.2. Market Size
- 4.3. Market Forecast
- 4.4. Impact of COVID-19
- 4.5. Impact of Russia-Ukraine War
- 5. Global Oil Refining Market by Product Type
- 5.1. Introduction
- 5.2. Light Distillates
- 5.3. Middle Distillates
- 5.4. Fuel Oil
- 5.5. Others
- 6. Global Oil Refining Market by Fuel Type
- 6.1. Introduction
- 6.2. Gasoline
- 6.3. Gasoil
- 6.4. Kerosene
- 6.5. LPG
- 6.6. Others
- 7. Global Oil Refining Market by Application
- 7.1. Food and Beverages
- 7.2. Transportation
- 7.3. Aviation
- 7.4. Marine Bunker
- 7.5. Petrochemical
- 7.6. Residential & Commercial
- 7.7. Agriculture
- 7.8. Electricity
- 7.9. Rail & Domestic Waterways
- 7.10. Others
- 8. Global Oil Refining Market by Region
- 8.1. Introduction
- 8.2. Europe
- 8.2.1. Germany
- 8.2.2. United Kingdom
- 8.2.3. France
- 8.2.4. Italy
- 8.2.5. Spain
- 8.2.6. Russia
- 8.2.7. Netherlands
- 8.2.8. Rest of the Europe
- 8.3. North America
- 8.3.1. United States
- 8.3.2. Canada
- 8.4. Asia Pacific
- 8.4.1. China
- 8.4.2. Japan
- 8.4.3. India
- 8.4.4. South Korea
- 8.4.5. Australia
- 8.4.6. Indonesia
- 8.4.7. Rest of the Asia Pacific
- 8.5. Latin America
- 8.5.1. Mexico
- 8.5.2. Brazil
- 8.5.3. Argentina
- 8.5.4. Rest of Latin America
- 8.6. Middle East & Africa
- 8.6.1. Saudi Arabia
- 8.6.2. Turkey
- 8.6.3. Iran
- 8.6.4. United Arab Emirates
- 8.6.5. Rest of Middle East & Africa
- 9. SWOT Analysis
- 10. Porter’s Five Forces
- 11. Market Value Chain Analysis
- 12. Competitive Landscape
- 12.1. Competitive Scenario
- 12.2. Company Profiles
- 12.2.1. Bharat Petroleum Corporation Ltd.
- 12.2.2. BP plc
- 12.2.3. Chevron Corporation
- 12.2.4. Exxonmobil Corporation
- 12.2.5. Hindustan Petroleum Corporation Ltd.
- 12.2.6. Indian Oil Corporation Ltd.
- 12.2.7. Marathon Petroleum Corporation
- 12.2.8. PJSC Oil Company
- 12.2.9. Reliance Industries Ltd
- 12.2.10. Royal Dutch Shell plc
- 12.2.11. Saudi Arabian Oil Co.
- 12.2.12. Sinopec Corp.
- List of Figures
- Figure 1: Global Oil Refining Market (in US$ Million), 2020-2024
- Figure 2: Global Oil Refining Market by Product Type, 2024
- Figure 3: Global Oil Refining Market by Fuel Type, 2024
- Figure 4: Global Oil Refining Market by Application, 2024
- Figure 5: Global Oil Refining Market by Region, 2024
- Figure 6: Global Oil Refining Market (in US$ Million), 2025-2034
- Figure 7: Global Oil Refining Market by Product Type (in %), 2024 & 2034
- Figure 8: Global Light Distillates Oil Refining Market (in US$ Million), 2020-2024
- Figure 9: Global Light Distillates Oil Refining Market (in US$ Million), 2025-2034
- Figure 10: Global Middle Distillates Oil Refining Market (in US$ Million), 2020-2024
- Figure 11: Global Middle Distillates Oil Refining Market (in US$ Million), 2025-2034
- Figure 12: Global Fuel Oil Refining Market (in US$ Million), 2020-2024
- Figure 13: Global Fuel Oil Refining Market (in US$ Million), 2025-2034
- Figure 14: Global Other Types Oil Refining Market (in US$ Million), 2020-2024
- Figure 15: Global Other Types Oil Refining Market (in US$ Million), 2025-2034
- Figure 16: Global Oil Refining Market by Fuel Type (in %), 2024 & 2034
- Figure 17: Global Gasoline Oil Refining Market (in US$ Million), 2020-2024
- Figure 18: Global Gasoline Oil Refining Market (in US$ Million), 2025-2034
- Figure 19: Global Gasoil Oil Refining Market (in US$ Million), 2020-2024
- Figure 20: Global Gasoil Oil Refining Market (in US$ Million), 2025-2034
- Figure 21: Global Kerosene Oil Refining Market (in US$ Million), 2020-2024
- Figure 22: Global Kerosene Oil Refining Market (in US$ Million), 2025-2034
- Figure 23: Global LPG Oil Refining Market (in US$ Million), 2020-2024
- Figure 24: Global LPG Oil Refining Market (in US$ Million), 2025-2034
- Figure 25: Global Other Fuel Types Oil Refining Market (in US$ Million), 2020-2024
- Figure 26: Global Other Fuel Types Oil Refining Market (in US$ Million), 2025-2034
- Figure 27: Global Oil Refining Market by Application (in %), 2024 & 2034
- Figure 28: Global Transportation Oil Refining Market (in US$ Million), 2020-2024
- Figure 29: Global Transportation Oil Refining Market (in US$ Million), 2025-2034
- Figure 30: Global Aviation Oil Refining Market (in US$ Million), 2020-2024
- Figure 31: Global Aviation Oil Refining Market (in US$ Million), 2025-2034
- Figure 32: Global Marine Bunker Oil Refining Market (in US$ Million), 2020-2024
- Figure 33: Global Marine Bunker Oil Refining Market (in US$ Million), 2025-2034
- Figure 34: Global Petrochemical Oil Refining Market (in US$ Million), 2020-2024
- Figure 35: Global Petrochemical Oil Refining Market (in US$ Million), 2025-2034
- Figure 36: Global Residential & Commercial Oil Refining Market (in US$ Million), 2020-2024
- Figure 37: Global Residential & Commercial Oil Refining Market (in US$ Million), 2025-2034
- Figure 38: Global Agriculture Oil Refining Market (in US$ Million), 2020-2024
- Figure 39: Global Agriculture Oil Refining Market (in US$ Million), 2025-2034
- Figure 40: Global Electricity Oil Refining Market (in US$ Million), 2020-2024
- Figure 41: Global Electricity Oil Refining Market (in US$ Million), 2025-2034
- Figure 42: Global Rail & Domestic Waterways Oil Refining Market (in US$ Million), 2020-2024
- Figure 43: Global Rail & Domestic Waterways Oil Refining Market (in US$ Million), 2025-2034
- Figure 44: Global Other Applications Oil Refining Market (in US$ Million), 2020-2024
- Figure 45: Global Other Applications Oil Refining Market (in US$ Million), 2025-2034
- Figure 46: Global Oil Refining Market by Region (in %), 2024 & 2034
- Figure 47: Europe Oil Refining Market (in US$ Million), 2020-2024
- Figure 48: Europe Oil Refining Market (in US$ Million), 2025-2034
- Figure 49: Europe Oil Refining Market by Country (in %), 2024 & 2034
- Figure 50: Germany Oil Refining Market (in US$ Million), 2020-2034
- Figure 51: United Kingdom Oil Refining Market (in US$ Million), 2020-2034
- Figure 52: France Oil Refining Market (in US$ Million), 2020-2034
- Figure 53: Italy Oil Refining Market (in US$ Million), 2020-2034
- Figure 54: Spain Oil Refining Market (in US$ Million), 2020-2034
- Figure 55: Russia Oil Refining Market (in US$ Million), 2020-2034
- Figure 56: Netherlands Oil Refining Market (in US$ Million), 2020-2034
- Figure 57: North America Oil Refining Market (in US$ Million), 2020-2024
- Figure 58: North America Oil Refining Market (in US$ Million), 2025-2034
- Figure 59: North America Oil Refining Market by Country (in %), 2024 & 2034
- Figure 60: United States Oil Refining Market (in US$ Million), 2020-2034
- Figure 61: Canada Oil Refining Market (in US$ Million), 2020-2034
- Figure 62: Asia Pacific Oil Refining Market (in US$ Million), 2020-2024
- Figure 63: Asia Pacific Oil Refining Market (in US$ Million), 2025-2034
- Figure 64: Asia Pacific Oil Refining Market by Country (in %), 2024 & 2034
- Figure 65: China Oil Refining Market (in US$ Million), 2020-2034
- Figure 66: Japan Oil Refining Market (in US$ Million), 2020-2034
- Figure 67: India Oil Refining Market (in US$ Million), 2020-2034
- Figure 68: South Korea Oil Refining Market (in US$ Million), 2020-2034
- Figure 69: Australia Oil Refining Market (in US$ Million), 2020-2034
- Figure 70: Indonesia Oil Refining Market (in US$ Million), 2020-2034
- Figure 71: Latin America Oil Refining Market (in US$ Million), 2020-2024
- Figure 72: Latin America Oil Refining Market (in US$ Million), 2025-2034
- Figure 73: Latin America Oil Refining Market by Country (in %), 2024 & 2034
- Figure 74: Mexico Oil Refining Market (in US$ Million), 2020-2034
- Figure 75: Brazil Oil Refining Market (in US$ Million), 2020-2034
- Figure 76: Argentina Oil Refining Market (in US$ Million), 2020-2034
- Figure 77: Middle East & Africa Oil Refining Market (in US$ Million), 2020-2024
- Figure 78: Middle East & Africa Oil Refining Market (in US$ Million), 2025-2034
- Figure 79: Middle East & Africa Oil Refining Market by Country (in %), 2024 & 2034
- Figure 80: Saudi Arabia Oil Refining Market (in US$ Million), 2020-2034
- Figure 81: Turkey Oil Refining Market (in US$ Million), 2020-2034
- Figure 82: Iran Oil Refining Market (in US$ Million), 2020-2034
- Figure 83: UAE Oil Refining Market (in US$ Million), 2020-2034
- Figure 84: Market Value Chain
- List of Tables
- Table 1: Global Oil Refining Market Portraiture
- Table 2: Global Oil Refining Market by Product Type (in US$ Million), 2024 & 2034
- Table 3: Global Oil Refining Market by Fuel Type (in US$ Million), 2024 & 2034
- Table 4: Global Oil Refining Market by Application (in US$ Million), 2024 & 2034
- Table 5: Global Oil Refining Market by Region (in US$ Million), 2024 & 2034
- Table 6: Europe Oil Refining Market by Country (in US$ Million), 2024 & 2034
- Table 7: North America Oil Refining Market by Country (in US$ Million), 2024 & 2034
- Table 8: Asia Pacific Oil Refining Market by Country (in US$ Million), 2024 & 2034
- Table 9: Latin America Oil Refining Market by Country (in US$ Million), 2024 & 2034
- Table 10: Middle East & Africa Oil Refining Market by Country (in US$ Million), 2024 & 2034
- Table 11: List of Key Players
Research Assistance
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