Market revenue in 2021 | USD 4,580.3 million |
Market revenue in 2030 | USD 6,057.3 million |
Growth rate | 3.2% (CAGR from 2021 to 2030) |
Largest segment | Group i |
Fastest growing segment | Group III |
Historical data covered | 2018 - 2020 |
Base year for estimation | 2021 |
Forecast period covered | 2022 - 2030 |
Quantitative units | Revenue in USD million |
Market segmentation | Group I, Group II, Group III, Group IV, Group V |
Key market players worldwide | China Petroleum & Chemical Corp Class H, Petronas Chemicals Group Bhd, PetroChina Co Ltd Class H, Exxon Mobil Corp, Chevron Corp, Shell PLC, BP PLC, The Goldman Sachs Group Inc, Nestle SA, Repsol SA |
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The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to base oil market will help companies and investors design strategic landscapes.
Group i was the largest segment with a revenue share of 43.46% in 2021. Horizon Databook has segmented the Europe base oil market based on group i, group ii, group iii, group iv, group v covering the revenue growth of each sub-segment from 2018 to 2030.
Europe is one of the prominent consumers of oil and refined oil products. According to the Energy Statistics report by the Indian Ministry of Statistics, Europe consumed around 909.2 million tons of crude oil and crude oil products in 2018, which accounted for 20% of the total crude oil and crude oil products consumption.
High consumption of lubricants is considered a key driver for the growth of the base oil market in Europe, as lubricants are mainly composed of base oil. The high consumption of base oil is closely associated with the growth of the transportation and industrial sectors, as per Eurostat.
In addition, the total number of passenger vehicles in use grew by 3.8%, and that of commercial vehicles grew by 3.7% from 2005 to 2015. All these factors are expected to contribute to the growth of the base oil market in Europe. Germany is one of the prominent base oil consumers in the European region.
Horizon Databook provides a detailed overview of continent-level data and insights on the Europe base oil market , including forecasts for subscribers. This continent databook contains high-level insights into Europe base oil market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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