Market Size of China Oil and Gas Downstream Industry
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2020 - 2022 |
| CAGR | 4.58 % |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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China Oil & Gas Downstream Market Analysis
The China oil and gas downstream market is expected to grow at a CAGR of over 4.58% during the forecast period of 2020- 2025. The taxation policies and development plans like increasing refining capacity and pipeline projects have been driving the downstream market. However, the volatile crude oil prices over the recent period and the continued switch to lower energy intensity in China and an increase in electric vehicle supplies are expected to hinder the growth of the oil and gas downstream market.
- China leads the global oil refinery market, in terms of refining capacity. The region is expected to add about 3,721 million barrels per day (b/d) of new refining capacity in the next three years by adding new refineries.
- The country's total refinery coking capacity, catalytic cracker capacity, and hydro-cracking capacity are expected to increase during the forecast period. The total coking capacity is expected to increase from 1991 mbd in 2018 to 2371 mbd in 2023.
- As of 2019, China has a total of 179 active crude oil refineries and around 12 planned and announced refineries are expected to commence operations by 2023. The top three active refineries in China, in terms of the crude distillation unit capacity, are Maoming, Zhenhai, and Huizhou with 472 mbd, 462 mbd, and 440 mbd, respectively.
- In December 2019, Russia's Gazprom opened the 'Power of Siberia' pipeline to China, to significant media and industry interest. The 8,100 kilometre long pipeline has been a substantial undertaking and will significantly impact China's gas market, providing up to 10% of China's entire gas supply by 2022.
China Oil & Gas Downstream Industry Segmentation
China oil and gas downstream market report include:
| Type | |
| Refinery | |
| Petrochemical Plants |
China Oil and Gas Downstream Market Size Summary
The China oil and gas downstream market is poised for growth, driven by factors such as favorable taxation policies and strategic development plans that include expanding refining capacity and pipeline projects. China stands as a leader in the global oil refinery sector, with significant additions to refining capacity anticipated in the coming years. The country's refining infrastructure is set to enhance its coking, catalytic cracking, and hydro-cracking capacities, supporting the increasing demand for petroleum products. However, the market faces challenges from volatile crude oil prices, a shift towards lower energy intensity, and the rising supply of electric vehicles, which could impede growth.
The downstream market in China is characterized by a moderate level of fragmentation, with key players such as China National Petroleum Corporation, Shanghai Petrochemical Company Limited, Shell Energy (China) Limited, Chevron Corporation, and Total SA playing significant roles. The modernization of the sector, driven by digital technologies, is becoming essential to reduce refining costs and process losses. Additionally, infrastructure improvements and stable profit margins have bolstered crude oil imports and net exports of gasoline, further supporting market expansion. The introduction of major pipeline projects, like the 'Power of Siberia,' is expected to have a substantial impact on China's gas market, enhancing the country's energy supply landscape.
China Oil and Gas Downstream Market Size - Table of Contents
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1. MARKET OVERVIEW
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1.1 Introduction
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1.2 Refining Capacity and Forecast in million barrels per day, till 2025
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1.3 Recent Trends and Developments
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1.4 Key Projects Information
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1.5 Government Policies and Regulations
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1.6 Investment Opportunities
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1.7 Market Dynamics
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1.7.1 Drivers
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1.7.2 Restraints
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1.8 Supply Chain Analysis
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1.9 PESTLE Analysis
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2. MARKET SEGMENTATION
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2.1 Type
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2.1.1 Refinery
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2.1.2 Petrochemical Plants
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China Oil and Gas Downstream Market Size FAQs
What is the current China Oil and Gas Downstream Market size?
The China Oil and Gas Downstream Market is projected to register a CAGR of greater than 4.58% during the forecast period (2024-2029)
Who are the key players in China Oil and Gas Downstream Market?
China National Petroleum Corporation , Sinopec Shanghai Petrochemical Company Limited , Shell Energy (China) Limited , Chevron Corporation and Total SA are the major companies operating in the China Oil and Gas Downstream Market.
