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Market Analysis and Insights: Global Oil Refining Market
The global Oil Refining market size in 2022 is 1455400.0 million US dollars, and it is expected to be XX million US dollars by 2029, with a compound annual growth rate of 5.20% expected in 2023-2029.
MARKET COMPETITIVE LANDSCAPE:
The main players in the Oil Refining market include China Petroleum & Chemical Corporation (Sinopec Corp.), Abu Dhabi National Oil Company, Valero Energy Corporation, National Iranian Oil Refining & Distribution Company, and Saudi Aramco Mobil Refinery Company. The share of the top 3 players in the Oil Refining market is XX%.
REGION SHARE:
The report covers the market size information of North America, Europe, Asia Pacific, Latin America, Middle East and Africa, and North America accounted for XX%, Europe accounted for XX% of Oil Refining market, and Asia Pacific accounted for XX%.
SEGMENT OVERVIEW:
The report segments the market by Type and Application. Light Distillates accounted for XX% of Oil Refining market in 2022. Middle Distillates share of XX%.
Transportation accounted for XX% of the Oil Refining market in 2022. Aviation accounts for XX%.
With industry-standard accuracy in analysis and high data integrity, the report makes a brilliant attempt to unveil key opportunities available in the global Oil Refining market to help players in achieving a strong market position. Buyers of the report can access verified and reliable market forecasts, including those for the overall size of the global Oil Refining market in terms of revenue.
On the whole, the report proves to be an effective tool that players can use to gain a competitive edge over their competitors and ensure lasting success in the global Oil Refining market. All of the findings, data, and information provided in the report are validated and revalidated with the help of trustworthy sources. The analysts who have authored the report took a unique and industry-best research and analysis approach for an in-depth study of the global Oil Refining market.
Global Oil Refining Scope and Market Size
Oil Refining market is segmented by company, region (country), by Type, and by Application. Players, stakeholders, and other participants in the global Oil Refining market will be able to gain the upper hand as they use the report as a powerful resource.
The impact of the outbreak of COVID-19 and the Russia-Ukraine War on the Oil Refining industry is considered in the report, covering the dynamic analysis of the development of the Oil Refining industry, including trends, technologies, opportunities, constraints. To ensure report buyers are able to gain in-depth knowledge of the market.
Multiple factors are driving the energy and power industry's ongoing shift toward cleaner, more sustainable energy, greater energy efficiency, and the integration of advanced technologies.
Renewable Energy Growth: The adoption and expansion of renewable energy sources, such as solar, wind, and hydroelectric power, have continued to accelerate. Governments, businesses, and individuals are increasingly investing in renewable energy projects to reduce carbon emissions and combat climate change.
Smart Grids and Energy Management: The development of smart grids, powered by advanced sensors, communication networks, and data analytics, is transforming the power sector. Smart grids enable real-time monitoring, efficient energy distribution, demand response programs, and better integration of distributed energy resources like rooftop solar panels.
Transition to a Low-carbon Economy: Governments worldwide are implementing policies and regulations to support the transition to a low-carbon economy. This includes carbon pricing mechanisms, renewable energy mandates, and commitments to achieve net-zero emissions. The focus on sustainability and decarbonization is reshaping the energy and power industry.
Key Regions Covered in This Report Are
North America
United States
Canada
Europe
Germany
France
UK
Italy
Russia
Spain
Nordic
Asia Pacific
China
Japan
South Korea
India
Southeast Asia
Australia
Latin America
Brazil
Mexico
Argentina
Middle East & Africa
Egypt
South Africa
UAE
Turkey
Saudi Arabia
Some of the major players operating in the global market include:
China Petroleum & Chemical Corporation (Sinopec Corp.)
Abu Dhabi National Oil Company
Valero Energy Corporation
National Iranian Oil Refining & Distribution Company
Saudi Aramco Mobil Refinery Company
Exxon Mobil Corporation
Chevron Corporation
Reliance Industries Limited
Marathon Petroleum Corporation
S-Oil Corporation
Segment by Type
Light Distillates
Middle Distillates
Fuel Oil
Others
Application list
Transportation
Aviation
Marine Bunker
Petrochemical
Agriculture
Electricity
Residential and Commercial
Rail and Domestic Waterways
Others
Key Highlights of the Report:
- Market Performance (2016-2021)
- Market Outlook (2022-2028)
- Market Trends
- Market Drivers and Success Factors
- Impact of COVID-19
- Value Chain Analysis
- Comprehensive mapping of the competitive landscape
Table of Content
1 Oil Refining Market Introduction and Overview
1.1 Oil Refining Definition
1.2 Research Purposes
1.3 Report Timeline
1.4 Economic Analysis of Global Regions
1.5 Oil Refining Industry Dynamic Analysis
1.5.1 Oil Refining Market Trends Analysis
1.5.2 Oil Refining Market Drivers Analysis
1.5.3 Oil Refining Market Challenges Analysis
1.5.4 Oil Refining Market Restraints Analysis
1.6 Inflation Analysis
1.7 The Impact of the Russian-Ukrainian War on the Market
1.8 Coronavirus Disease 2020 (COVID-19) Impact on Global
2 Global Oil Refining Market Insights by Type
2.1 Market Size Insights by Types
2.2 Global Oil Refining Revenue and Share by Type
3 Global Oil Refining Market Insights by Application
3.1 Market Size Insights by Application
3.2 Global Oil Refining Revenue and Share by Application (2018-2023)
4 Global Market Growth Insights
4.1 Global Oil Refining Market Size (2018-2023)
4.2 Oil Refining Growth Insights by Regions
4.2.1 Oil Refining Market Size by Regions: 2018 VS 2023 VS 2029
4.2.2 Oil Refining Revenue Market Size by Regions (2018-2023)
4.2.3 North America Oil Refining Market Size (2018-2023)
4.2.4 Europe Oil Refining Market Size (2018-2023)
4.2.5 Asia-Pacific Oil Refining Market Size (2018-2023)
4.2.6 Latin America Oil Refining Market Size (2018-2023)
4.2.7 Middle East & Africa Oil Refining Market Size (2018-2023)
5 North America
5.1 North America Oil Refining Revenue by Countries
5.1.1 North America Oil Refining Revenue by Countries (2018-2023)
5.2 North America PEST Analysis
5.3 United States
5.4 Canada
6 Asia Pacific
6.1 Asia Pacific Oil Refining Revenue by Countries
6.1.1 Asia Pacific Oil Refining Revenue by Countries (2018-2023)
6.2 Asia-Pacific PEST Analysis
6.3 China
6.4 Japan
6.5 Korea
6.6 Southeast Asia
6.7 India
6.8 Australia
7 Europe
7.1 Europe Oil Refining Revenue by Countries
7.1.1 Europe Oil Refining Revenue by Countries (2018-2023)
7.2 Europe PEST Analysis
7.3 Germany
7.4 France
7.5 UK
7.6 Italy
7.7 Russia
7.8 Spain
7.9 Nordic
8 Latin America
8.1 Latin America Oil Refining Revenue by Countries
8.1.1 Latin America Oil Refining Revenue by Countries (2018-2023)
8.2 Latin America PEST Analysis
8.3 Brazil
8.4 Argentina
8.5 Mexico
9 Middle East & Africa
9.1 Middle East & Africa Oil Refining Revenue by Countries
9.1.1 Middle East & Africa Oil Refining Revenue by Countries (2018-2023)
9.2 Middle East & Africa PEST Analysis
9.3 Egypt
9.4 South Africa
9.5 UAE
9.6 Turkey
9.7 Saudi Arabia
10 Global Oil Refining Market Competition, by Players
10.1 Global Oil Refining Revenue and Market Share by Players
10.2 Market Concentration Rate
10.2.1 Top 3 Oil Refining Players Market Share in 2022
10.2.2 Top 6 Oil Refining Players Market Share in 2022
10.2.3 Market Competition Trend
10.3 Oil Refining Players Head Office, Business Provided
10.4 Oil Refining Mergers & Acquisitions
10.5 Oil Refining New Entrants and Expansion Plans
11 Players Profiles
11.1 China Petroleum & Chemical Corporation (Sinopec Corp.)
11.1.1 China Petroleum & Chemical Corporation (Sinopec Corp.) Company Profile
11.1.2 Oil Refining Product Overview
11.1.3 China Petroleum & Chemical Corporation (Sinopec Corp.) Oil Refining Market Performance (2018-2023)
11.1.4 China Petroleum & Chemical Corporation (Sinopec Corp.) Business Overview
11.1.5 Recent Developments and Plans
11.2 Abu Dhabi National Oil Company
11.2.1 Abu Dhabi National Oil Company Company Profile
11.2.2 Oil Refining Product Overview
11.2.3 Abu Dhabi National Oil Company Oil Refining Market Performance (2018-2023)
11.2.4 Abu Dhabi National Oil Company Business Overview
11.2.5 Recent Developments and Plans
11.3 Valero Energy Corporation
11.3.1 Valero Energy Corporation Company Profile
11.3.2 Oil Refining Product Overview
11.3.3 Valero Energy Corporation Oil Refining Market Performance (2018-2023)
11.3.4 Valero Energy Corporation Business Overview
11.3.5 Recent Developments and Plans
11.4 National Iranian Oil Refining & Distribution Company
11.4.1 National Iranian Oil Refining & Distribution Company Company Profile
11.4.2 Oil Refining Product Overview
11.4.3 National Iranian Oil Refining & Distribution Company Oil Refining Market Performance (2018-2023)
11.4.4 National Iranian Oil Refining & Distribution Company Business Overview
11.4.5 Recent Developments and Plans
11.5 Saudi Aramco Mobil Refinery Company
11.5.1 Saudi Aramco Mobil Refinery Company Company Profile
11.5.2 Oil Refining Product Overview
11.5.3 Saudi Aramco Mobil Refinery Company Oil Refining Market Performance (2018-2023)
11.5.4 Saudi Aramco Mobil Refinery Company Business Overview
11.5.5 Recent Developments and Plans
11.6 Exxon Mobil Corporation
11.6.1 Exxon Mobil Corporation Company Profile
11.6.2 Oil Refining Product Overview
11.6.3 Exxon Mobil Corporation Oil Refining Market Performance (2018-2023)
11.6.4 Exxon Mobil Corporation Business Overview
11.6.5 Recent Developments and Plans
11.7 Chevron Corporation
11.7.1 Chevron Corporation Company Profile
11.7.2 Oil Refining Product Overview
11.7.3 Chevron Corporation Oil Refining Market Performance (2018-2023)
11.7.4 Chevron Corporation Business Overview
11.7.5 Recent Developments and Plans
11.8 Reliance Industries Limited
11.8.1 Reliance Industries Limited Company Profile
11.8.2 Oil Refining Product Overview
11.8.3 Reliance Industries Limited Oil Refining Market Performance (2018-2023)
11.8.4 Reliance Industries Limited Business Overview
11.8.5 Recent Developments and Plans
11.9 Marathon Petroleum Corporation
11.9.1 Marathon Petroleum Corporation Company Profile
11.9.2 Oil Refining Product Overview
11.9.3 Marathon Petroleum Corporation Oil Refining Market Performance (2018-2023)
11.9.4 Marathon Petroleum Corporation Business Overview
11.9.5 Recent Developments and Plans
11.10 S-Oil Corporation
11.10.1 S-Oil Corporation Company Profile
11.10.2 Oil Refining Product Overview
11.10.3 S-Oil Corporation Oil Refining Market Performance (2018-2023)
11.10.4 S-Oil Corporation Business Overview
11.10.5 Recent Developments and Plans
12 Global Oil Refining Forecast Market Insights by Type
12.1 Global Oil Refining Revenue Market Forecast by Type (2023-2029)
13 Global Oil Refining Forecast Market Insights by Application
13.1 Oil Refining Revenue Market Forecast by Application (2023-2029)
14 Global Market Growth Forecast Insights
14.1 Global Oil Refining Forecast Market Size (2023-2029)
14.2 Oil Refining Growth Forecast Insights by Regions
14.2.1 Oil Refining Revenue Forecast Market Size by Regions (2023-2029)
14.2.2 North America Oil Refining Forecast Market Size (2023-2029)
14.2.3 Europe Oil Refining Forecast Market Size (2023-2029)
14.2.4 Asia-Pacific Oil Refining Forecast Market Size (2023-2029)
14.2.5 Latin America Oil Refining Forecast Market Size (2023-2029)
14.2.6 Middle East & Africa Oil Refining Forecast Market Size (2023-2029)
15 Methodology and Data Source
15.1 A Methodology
15.1.1 Research Process
15.1.2 Market Size Estimation
15.1.3 Market Breakdown and Data Triangulation
15.2 B Data Source
15.2.1 Legal Disclaimer
Tables & Figures:
List of Tables and Figures
Figure Oil Refining Picture
Table Product Definition of Oil Refining
Table Economic Analysis of Global Regions
Table Market Trends Analysis
Table Market Drivers Analysis
Table Market Challenges Analysis
Table Market Restraints Analysis
Table Inflation Analysis
Table The Impact of the Russian-Ukrainian War on the Market
Figure 2020 (COVID-19) Impact on Global Economic Growth 2019, 2020, 2021
Figure Population infected by the Covid-19 of Major Countries
Table Global Oil Refining Market Size by Type (2018 VS 2023 VS 2029)
Table Global Oil Refining Revenue by Type (2018-2023)
Table Global Oil Refining Revenue and Share by Type (2018-2023)
Table Global Oil Refining Market Size by Application (2018 VS 2023 VS 2029)
Table Global Oil Refining Revenue by Application (2018-2023)
Table Global Oil Refining Revenue Share by Application (2018-2023)
Figure Global Oil Refining Revenue Market Size Growth (2018-2023)
Table Oil Refining Market Size by Regions: 2018 VS 2023 VS 2029
Table Oil Refining Revenue Market Size by Regions (2018-2023)
Table Oil Refining Revenue and Share by Regions (2018-2023)
Figure North America Oil Refining Market Size (2018-2023)
Figure Europe Oil Refining Market Size (2018-2023)
Figure Asia-Pacific Oil Refining Market Size (2018-2023)
Figure Latin America Oil Refining Market Size (2018-2023)
Figure Middle East & Africa Oil Refining Market Size (2018-2023)
Table North America Oil Refining Revenue by Countries (2018-2023)
Table North America Oil Refining Revenue and Share by Countries (2018-2023)
Table North America PEST Analysis
Figure United States Oil Refining Revenue and Growth (2018-2023)
Figure Canada Oil Refining Revenue and Growth (2018-2023)
Figure Canada Oil Refining Sales and Growth (2018-2023)
Table Asia-Pacific Oil Refining Revenue by Countries (2018-2023)
Table Asia-Pacific Oil Refining Revenue and Share by Countries (2018-2023)
Table Asia-Pacific PEST Analysis
Figure China Oil Refining Revenue and Growth (2018-2023)
Figure Japan Oil Refining Revenue and Growth (2018-2023)
Figure Korea Oil Refining Revenue and Growth (2018-2023)
Figure Southeast Asia Oil Refining Revenue and Growth (2018-2023)
Figure India Oil Refining Revenue and Growth (2018-2023)
Figure Australia Oil Refining Revenue and Growth (2018-2023)
Table Europe Oil Refining Revenue by Countries (2018-2023)
Table Europe Oil Refining Revenue and Share by Countries (2018-2023)
Table Europe PEST Analysis
Figure Germany Oil Refining Revenue and Growth (2018-2023)
Figure France Oil Refining Revenue and Growth (2018-2023)
Figure UK Oil Refining Revenue and Growth (2018-2023)
Figure Italy Oil Refining Revenue and Growth (2018-2023)
Figure Russia Oil Refining Revenue and Growth (2018-2023)
Figure Spain Oil Refining Revenue and Growth (2018-2023)
Figure Nordic Oil Refining Revenue and Growth (2018-2023)
Table Latin America Oil Refining Revenue by Countries (2018-2023)
Table Latin America Oil Refining Revenue and Share by Countries (2018-2023)
Table Latin America PEST Analysis
Figure Brazil Oil Refining Revenue and Growth (2018-2023)
Figure Argentina Oil Refining Revenue and Growth (2018-2023)
Figure Mexico Oil Refining Revenue and Growth (2018-2023)
Table Middle East & Africa Oil Refining Revenue by Countries (2018-2023)
Table Middle East & Africa Oil Refining Revenue and Share by Countries (2018-2023)
Table Middle East & Africa PEST Analysis
Figure Egypt Oil Refining Revenue and Growth (2018-2023)
Figure South Africa Oil Refining Revenue and Growth (2018-2023)
Figure UAE Oil Refining Revenue and Growth (2018-2023)
Figure Turkey Oil Refining Revenue and Growth (2018-2023)
Figure Saudi Arabia Oil Refining Revenue and Growth (2018-2023)
Table Global Oil Refining Revenue by Players (2018-2023)
Table Global Oil Refining Revenue Market Share by Players (2018-2023)
Figure Global Top 3 Companies Revenue Share in 2022
Figure Global Top 6 Companies Revenue Share in 2022
Table Global Oil Refining Players Market Concentration Ratio (CR5) (2018-2023)
Table Oil Refining Players Head Office, Business Provided
Table Mergers & Acquisitions
Table New Entrants and Expansion Plans
Table China Petroleum & Chemical Corporation (Sinopec Corp.) Profile
Table Product Overview
Table China Petroleum & Chemical Corporation (Sinopec Corp.) Oil Refining Revenue, Gross and Gross Margin (2018-2023)
Figure China Petroleum & Chemical Corporation (Sinopec Corp.) Revenue and Growth Rate
Figure China Petroleum & Chemical Corporation (Sinopec Corp.) Revenue Market Share 2017-2022
Table Business Overview
Table Recent Developments and Plans
Table Abu Dhabi National Oil Company Profile
Table Product Overview
Table Abu Dhabi National Oil Company Oil Refining Revenue, Gross and Gross Margin (2018-2023)
Figure Abu Dhabi National Oil Company Revenue and Growth Rate
Figure Abu Dhabi National Oil Company Revenue Market Share 2017-2022
Table Business Overview
Table Recent Developments and Plans
Table Valero Energy Corporation Profile
Table Product Overview
Table Valero Energy Corporation Oil Refining Revenue, Gross and Gross Margin (2018-2023)
Figure Valero Energy Corporation Revenue and Growth Rate
Figure Valero Energy Corporation Revenue Market Share 2017-2022
Table Business Overview
Table Recent Developments and Plans
Table National Iranian Oil Refining & Distribution Company Profile
Table Product Overview
Table National Iranian Oil Refining & Distribution Company Oil Refining Revenue, Gross and Gross Margin (2018-2023)
Figure National Iranian Oil Refining & Distribution Company Revenue and Growth Rate
Figure National Iranian Oil Refining & Distribution Company Revenue Market Share 2017-2022
Table Business Overview
Table Recent Developments and Plans
Table Saudi Aramco Mobil Refinery Company Profile
Table Product Overview
Table Saudi Aramco Mobil Refinery Company Oil Refining Revenue, Gross and Gross Margin (2018-2023)
Figure Saudi Aramco Mobil Refinery Company Revenue and Growth Rate
Figure Saudi Aramco Mobil Refinery Company Revenue Market Share 2017-2022
Table Business Overview
Table Recent Developments and Plans
Table Exxon Mobil Corporation Profile
Table Product Overview
Table Exxon Mobil Corporation Oil Refining Revenue, Gross and Gross Margin (2018-2023)
Figure Exxon Mobil Corporation Revenue and Growth Rate
Figure Exxon Mobil Corporation Revenue Market Share 2017-2022
Table Business Overview
Table Recent Developments and Plans
Table Chevron Corporation Profile
Table Product Overview
Table Chevron Corporation Oil Refining Revenue, Gross and Gross Margin (2018-2023)
Figure Chevron Corporation Revenue and Growth Rate
Figure Chevron Corporation Revenue Market Share 2017-2022
Table Business Overview
Table Recent Developments and Plans
Table Reliance Industries Limited Profile
Table Product Overview
Table Reliance Industries Limited Oil Refining Revenue, Gross and Gross Margin (2018-2023)
Figure Reliance Industries Limited Revenue and Growth Rate
Figure Reliance Industries Limited Revenue Market Share 2017-2022
Table Business Overview
Table Recent Developments and Plans
Table Marathon Petroleum Corporation Profile
Table Product Overview
Table Marathon Petroleum Corporation Oil Refining Revenue, Gross and Gross Margin (2018-2023)
Figure Marathon Petroleum Corporation Revenue and Growth Rate
Figure Marathon Petroleum Corporation Revenue Market Share 2017-2022
Table Business Overview
Table Recent Developments and Plans
Table S-Oil Corporation Profile
Table Product Overview
Table S-Oil Corporation Oil Refining Revenue, Gross and Gross Margin (2018-2023)
Figure S-Oil Corporation Revenue and Growth Rate
Figure S-Oil Corporation Revenue Market Share 2017-2022
Table Business Overview
Table Recent Developments and Plans
Table Global Oil Refining Revenue Forecast by Type (2023-2029)
Table Global Oil Refining Revenue and Share Forecast by Type (2023-2029)
Table Global Oil Refining Revenue by Application (2023-2029)
Table Global Oil Refining Revenue and Share by Application (2023-2029)
Figure Global Oil Refining Revenue Forecast Market Size (2023-2029)
Table Oil Refining Revenue Forecast by Regions (2023-2029)
Table Oil Refining Revenue and Share Forecast by Regions (2023-2029)
Figure North America Oil Refining Revenue Forecast Market Size (2023-2029)
Figure Europe Oil Refining Revenue Forecast Market Size (2023-2029)
Figure Asia-Pacific Oil Refining Revenue Forecast Market Size (2023-2029)
Figure Latin America Oil Refining Revenue Forecast Market Size (2023-2029)
Figure Middle East & Africa Oil Refining Revenue Forecast Market Size (2023-2029)
Table Research Process
Figure Bottom-up and Top-down Approaches for This Report
Research Methodology:
Global Oil Refining Market Size Estimation
To estimate market size and trends, we use a combination of top-down and bottom-up methods. This allows us to evaluate the market from various perspectives—by company, region, product type, and end users.
Our estimates are based on actual sales data, excluding any discounts. Segment breakdowns and market shares are calculated using weighted averages based on usage rates and average prices. Regional insights are determined by how widely a product or service is adopted in each area.
Key companies are identified through secondary sources like industry reports and company filings. We then verify revenue estimates and other key data points through primary research, including interviews with industry experts, company executives, and decision-makers.
We take into account all relevant factors that could influence the market and validate our findings with real-world input. Our final insights combine both qualitative and quantitative data to provide a well-rounded view. Please note, these estimates do not account for unexpected changes such as inflation, economic downturns, or policy shifts.
Data Source
Secondary Sources
This study draws on a wide range of secondary sources, including press releases, annual reports, non-profit organizations, industry associations, government agencies, and customs data. We also referred to reputable databases and directories such as Bloomberg, Wind Info, Hoovers, Factiva, Trading Economics, Statista, and others. Additional references include investor presentations, company filings (e.g., SEC), economic data, and documents from regulatory and industry bodies.
These sources were used to gather technical and market-focused insights, identify key players, analyze market segmentation and classification, and track major trends and developments across industries.
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Qualitative Analysis |
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Primary Sources
As part of our primary research, we interviewed a variety of stakeholders from both the supply and demand sides to gather valuable qualitative and quantitative insights.
On the supply side, we spoke with product manufacturers, competitors, industry experts, research institutions, distributors, traders, and raw material suppliers. On the demand side, we engaged with business leaders, marketing and sales heads, technology and innovation directors, supply chain executives, and end users across key organizations.
These conversations helped us better understand market segmentation, pricing, applications, leading players, supply chains, demand trends, industry outlook, and key market dynamics—including risks, opportunities, barriers, and strategic developments.
Key Data Information from Primary Sources
Primary Sources | Parameters | Key Data |
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Total Market |
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