Europe Base Oil Market Size & Outlook, 2021-2030
Europe base oil market, 2018-2030 (US$M)
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Europe base oil market highlights
- The Europe base oil market generated a revenue of USD 4,580.3 million in 2021.
- The market is expected to grow at a CAGR of 3.2% from 2022 to 2030.
- In terms of segment, group i was the largest revenue generating product in 2021.
- Group III is the most lucrative product segment registering the fastest growth during the forecast period.
- Country-wise, Germany is expected to register the highest CAGR from 2022 to 2030.
Europe data book summary
| 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 |
Other key industry trends
- In terms of revenue, Europe region accounted for 22.5% of the global base oil market in 2021.
- Globally, Asia Pacific is projected to lead the regional market in terms of revenue in 2030.
- Asia Pacific is the fastest growing regional market and is projected to reach USD 15,689.6 million by 2030.
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Base Oil Market Scope
Base Oil Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|
Europe base oil market outlook
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.
The automobile industry of the nation is also one of the largest in the world. It has 46 vehicle lines and engine production facilities, accounting for more than one-third of Europe's total automobile production capacity. The large production volumes and a high number of vehicles in Germany are significant drivers for the base oil market. In addition, there is a growing demand for Group V base oil and high-grade synthetic Group IV base oil, driven by the usage of high-performance lubricants due to OEM recommendations.
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Target buyers of Europe base oil market databook
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Our clientele includes a mix of base oil market companies, investment firms, advisory firms & academic institutions.
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30% of our revenue is generated working with investment firms and helping them identify viable opportunity areas.
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Approximately 65% of our revenue is generated working with competitive intelligence & market intelligence teams of market participants (manufacturers, service providers, etc.).
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The rest of the revenue is generated working with academic and research not-for-profit institutes. We do our bit of pro-bono by working with these institutions at subsidized rates.
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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Europe base oil market outlook size, by country, 2018-2030 (US$M)
Europe Base Oil Market Outlook Share, 2021 & 2030 (US$M)
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