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Conventional Oil Market to reach USD 3493.71 Bn by 2029, emerging at a CAGR of 3.8 percent and forecast (2022-2029)

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Conventional Oil Market to reach USD 3493.71 Bn by 2029, emerging at a CAGR of 3.8 percent and forecast (2022-2029)

April 27
21:13 2023
Conventional Oil Market to reach USD 3493.71 Bn by 2029, emerging at a CAGR of 3.8 percent and forecast (2022-2029)
Conventional Oil Market
The Conventional Oil Market size was valued at USD 2687.32 Billion in 2022 and the total Conventional Oil revenue is expected to grow at a CAGR of 3.8% from 2023 to 2029, reaching nearly USD 3493.71 Billion.

Pune 27, April 2023: The total global market for the “Conventional Oil Market” was valued at USD 2687.32 Bn in 2022 and is expected to grow at a CAGR of 3.8 percent over the forecast period to reach USD 3493.71 Bn by 2029. The report analyzed by Maximize Market Research, on the Conventional Oil market, covers an extensive regional analysis and competitive landscape. 

Conventional Oil Market Report Scope and Research Methodology

The Conventional Oil Market report includes current trends and market highlights, assisting clients in exploring lucrative opportunities in the market. The report covers insights into the major drivers, challenges, and major restraints of the Conventional Oil Market. During the forecast period, the report covers market size with estimations and growth rates. To understand Conventional Oil market penetration, competitive structure, pricing, and demand analysis, regional market analysis is carried out at the local, regional, and global levels. 

The bottom-up approach was used for Conventional Oil market estimation. For a competitive landscape of the Conventional Oil Market, Key players are collected based on several parameters that involve the products and services offered, revenue generated, technological advancements adopted and mergers and acquisitions. Data is collected using primary and secondary collection methods with qualitative and quantitative approaches. Primary data include surveys, questionnaires and telephonic interviews with market experts, market leaders and business owners. Secondary data was taken from annual reports, financial reports, government organizations’ sites and white papers. 

SWOT, PESTLE and Porter’s five forces were used for the Conventional Oil Market analysis for the Micro and macro factors affecting the Conventional Oil Market presented. Thus the report act as a guide for investors, stakeholders, and market followers of the market. 

Conventional Oil Market Dynamics

Technological advancements such as the development of more efficient extraction methods and use of the oil recovery techniques, make it simple to extract conventional oil. Advanced drilling techniques, digitalization, enhanced oil recovery techniques and autonomous vehicles are the advanced technologies that help to improve efficiency, reduce the cost and growth in production and reduce the environmental impact. As a result, the increasing technological advancements boost the Conventional Oil industry. 

The market is driven by the increase in auto production, increasing demand for traditional and synthetic materials and the growing transportation industry across the world. The market growth is expected to be restrained by the increasing adoption of renewable energy sources, the increasing cost of oil extraction and exploration and growing concerns regarding the environmental impact of oil extraction.

Get a Sample Copy of the Report: 

Conventional Oil Market Regional Insights

In 2022, North America held the Conventional Oil Market with the highest CAGR and is expected to have significant growth over the forecast period. The United States dominated the Market with the largest market share of 38.9 percent in 2022. The market is driven by the high level of investment in the oil infrastructure, the existence of large oil fields, the increase in oil production and well-developed oil infrastructure such as pipelines, refineries and storage facilities.

During the forecast period, the Middle East and Africa are expected to have significant growth in the Conventional Oil Market. The economic development, presence of several multinational oil companies and income for the government and provision of employment opportunities are the influencing factors for the regional growth of the market. The regional market is expected to be restrained by the development of alternative energy sources, over the forecast period. 

Conventional Oil Market Segmentation

By Type

  • Light Distillate
  • Middle Distillates
  • Heavy Ends
  • Others


By Sulfur Content

  • Low Sulfur
  • High Sulfur


By End-Use Industry

  • Automotive
  • Chemical
  • Power Generation
  • Industrial
  • Others


Conventional Oil Market Key Competitors include:

  • BP
  • Chevron
  • Eni
  • ExxonMobil
  • Shell
  • Total
  • CNPC
  • Equinor
  • Petrobras
  • Repsol
  • Saudi Aramco
  • ConocoPhillips
  • Total
  • PetroChina
  • Gazprom


Table of Content for Global Conventional Oil Market: 

  • Global Conventional Oil Market: Research Methodology


  • Global Conventional Oil Market: Executive Summary
  • Market Overview and Definitions
  • Introduction to Global Market  
  • Summary
  • Key Findings 
  • Recommendations for Investors
  • Recommendations for Market Leaders 
  • Recommendations for New Market Entry


  • Global Conventional Oil Market: Competitive Analysis
  • MMR Competition Matrix
  • Market Structure by Region
  • Competitive Benchmarking of Key Players
  • Consolidation in the Market
  • M&A by region
  • Key Developments by Companies
  • Market Drivers
  • Market Restraints
  • Market Opportunities 
  • Market Challenges
  • Market Dynamics
  • PORTERS Five Forces Analysis
  • Regulatory Landscape by region
  • North America
  • Europe
  • Asia Pacific
  • Middle East and Africa
  • South America
  • COVID-19 Impact


  • Global Conventional Oil Market  Segmentation(2022-2029) 
  • Global Market, by Type (2022-2029)
  • Global Market, by Sulfur Content (2022-2029)
  • Global Market, by End-Use Industry (2022-2029)


  • Regional Conventional Oil Market  (2022-2029)
  • Regional Market, by Type (2022-2029)
  • Regional Market, by Sulfur Content (2022-2029)
  • Regional Market, by End-Use Industry (2022-2029)    
  • Regional Market, by Country (2022-2029)     


  • Company Profile: Key players
  • Company Overview
  • Financial Overview
  • Global Presence
  • Capacity Portfolio
  • Business Strategy 
  • Recent Developments


Get the Sample PDF of Report: 

Key questions answered in the Conventional Oil Market are:

  • What is Conventional Oil?
  • What is the CAGR of the Conventional Oil Market?
  • What was the Conventional Oil Market Size in 2022?
  • What is the expected Conventional Oil market size during the forecast period?
  • What is the scope of the Conventional Oil Market?
  • What are the Key driving factors for the growth of the Conventional Oil Market?
  • What are the different segments of the Conventional Oil Market?
  • What are the factors restraining the growth of the Conventional Oil Market?
  • What is the demand pattern of the Conventional Oil Market?
  • What are the major challenges that the Conventional Oil Market could face in the future? 
  • What growth strategies are the players considering to increase their presence in Conventional Oil?
  • What are the upcoming industry applications and trends for the Conventional Oil Market?
  • What are the recent industry trends that can be implemented to generate additional revenue streams for Conventional Oil Market? 
  • What are the top players operating in the Conventional Oil Market?
  • Which region accounted for the largest market share in the Conventional Oil Market? 


Key Offerings:

  • Past Market Size and Competitive Landscape (2018 to 2023)
  • Past Pricing and price curve by region (2018 to 2023)
  • Market Size, Share, Size & Forecast by different segment | 2023−2029
  • Market Dynamics – Growth Drivers, Restraints, Opportunities, and Key Trends by Region
  • Market Segmentation – A detailed analysis by Type, Sulfur Content, End-Use Industry and Region 
  • Competitive Landscape – Profiles of selected key players by region from a strategic perspective 
    • Competitive landscape – Market Leaders, Market Followers, Regional player
    • Competitive benchmarking of key players by region
  • PESTLE Analysis 
  • PORTER’s analysis 
  • Value chain and supply chain analysis 
  • Legal Aspects of Business by Region
  • Lucrative business opportunities with SWOT analysis 
  • Recommendations 


Maximize Market Research is Energy & Power research firm, has also published the following reports:

Pyrolysis Oil Market – The market size is expected to reach USD 442.86 Mn by 2029 at a CAGR of 4.20 percent during the forecast period. The market is expected to be driven by the increasing production of plastic waste and increasing demand for the energy efficient and green fuel alternatives

Bergamot Essential Oil Market – The market size is expected to reach USD 35.72 Bn by 2029 at a CAGR of 7.52 percent during the forecast period. The market is expected to be driven by the increasing use of Bergamot Essential Oil in the skincare, cosmetics, and pharmaceutical industries.


About Maximize Market Research:

Maximize Market Research is a multifaceted market research and consulting company with professionals from several industries. Some of the industries we cover include medical devices, pharmaceutical manufacturers, science and engineering, electronic components, industrial equipment, technology and communication, cars and automobiles, chemical products and substances, general merchandise, beverages, personal care, and automated systems. To mention a few, we provide market-verified industry estimations, technical trend analysis, crucial market research, strategic advice, competition analysis, production and demand analysis, and client impact studies.


Contact Maximize Market Research:

3rd Floor, Navale IT Park, Phase 2

Pune Banglore Highway, Narhe,

Pune, Maharashtra 411041, India

[email protected] 

+91 96071 95908, +91 9607365656

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