Market Size of Europe Refined Petroleum Products Industry
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2020 - 2022 |
| CAGR | 5.60 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Europe Refined Petroleum Products Market Analysis
The European refined petroleum products market is expected to register a CAGR of around 5.6% during the forecast period.
The market was negatively impacted by COVID-19 in 2020. Presently the market has reached pre-pandemic levels.
- Over the long term, factors such as extremely high power demand in various European countries such as the United Kingdom, Germany, and Italy, which can be immediately met by the fuel-driven power sector, and demand for marine fuels due to the steadily growing shipping industry are expected to drive the market.
- On the other hand, the growing adoption of renewable power sources is a major restraint hindering the market growth.
- Nevertheless, the transition to cleaner fuels and LPG becomes critical to household energy in low-income communities. Therefore it is expected to create ample opportunities for the market studied.
- The United Kingdom is expected to dominate the market due to the growing consumption of refined petroleum products across the country.
Europe Refined Petroleum Products Industry Segmentation
Refined petroleum products are derived from crude oils through processes such as catalytic cracking and fractional distillation. These products have physical and chemical characteristics that differ according to the type of crude oil and subsequent refining processes.
The European refined petroleum products market is segmented by type and geography. By type, the market is segmented into automotive fuels, marine fuels, aviation fuels, liquefied petroleum gas (LPG), and other fuel types. The report also covers the market size and forecasts for the refined petroleum products market across major countries in the region. For each segment, the forecasts have been mentioned in USD billion.
| Type | |
| Automotive Fuels | |
| Marine Fuels | |
| Aviation Fuels | |
| Liquefied Petroleum Gas (LPG) | |
| Other Fuel Types |
| Geography | |
| Germany | |
| United Kingdom | |
| France | |
| Italy | |
| Spain | |
| Rest of Europe |
Europe Refined Petroleum Products Market Size Summary
The European refined petroleum products market is poised for growth, driven by high power demand in countries like the United Kingdom, Germany, and Italy, and the increasing need for marine fuels due to the expanding shipping industry. Despite the challenges posed by the COVID-19 pandemic, the market has rebounded to pre-pandemic levels. However, the shift towards renewable energy sources presents a significant challenge to market expansion. The transition to cleaner fuels and LPG is becoming essential, particularly in low-income communities, offering new opportunities for market development. The United Kingdom is expected to lead the market, fueled by rising consumption of refined petroleum products.
The aviation sector's recovery and growth in Europe, particularly in the United Kingdom, is expected to significantly contribute to the market's expansion. The commitment to decarbonizing air transport and the adoption of sustainable aviation fuels are key trends shaping the market. The UK's robust infrastructure, including a high number of petrol stations and increasing demand for LPG, supports this growth. Additionally, developments in oil and gas production, such as new fields in the North Sea and infrastructure enhancements, further bolster the market. The European refined petroleum products market remains moderately fragmented, with major players like Royal Dutch Shell, Exxon Mobil Corporation, and BP PLC actively participating in the market landscape.
Europe Refined Petroleum Products 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 Europe Refined Petroleum Products Market in USD billion, till 2027
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1.3 Recent Trends and Developments
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1.4 Government Policies and Regulations
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1.5 Recent Trends and Developments
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1.6 Market Dynamics
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1.6.1 Drivers
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1.6.2 Restraints
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1.7 Porter's Five Forces Analysis
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1.7.1 Bargaining Power of Suppliers
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1.7.2 Bargaining Power of Consumers
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1.7.3 Threat of New Entrants
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1.7.4 Threat of Substitutes Products and Services
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1.7.5 Intensity of Competitive Rivalry
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2. MARKET SEGMENTATION
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2.1 Type
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2.1.1 Automotive Fuels
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2.1.2 Marine Fuels
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2.1.3 Aviation Fuels
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2.1.4 Liquefied Petroleum Gas (LPG)
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2.1.5 Other Fuel Types
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2.2 Geography
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2.2.1 Germany
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2.2.2 United Kingdom
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2.2.3 France
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2.2.4 Italy
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2.2.5 Spain
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2.2.6 Rest of Europe
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Europe Refined Petroleum Products Market Size FAQs
What is the current Europe Refined Petroleum Products Market size?
The Europe Refined Petroleum Products Market is projected to register a CAGR of 5.60% during the forecast period (2024-2029)
Who are the key players in Europe Refined Petroleum Products Market?
Royal Dutch Shell, Exxon Mobil Corporation, China Petroleum & Chemical Corporation, BP Plc and Chevron Corporation are the major companies operating in the Europe Refined Petroleum Products Market.
