Irving, Texas (PRWEB) September 04, 2012
The increasing demand for petroleum products in India and China is expected to drive the theoil and gas refining and marketing industry. The global industry experienced robust growth during the last five years and is expected to continue its growth momentum, reaching approximately US$7,783billion in 2017 with a CAGR of 6.7% over next five years (2012-2017).
Lucintel, a leading global management consulting and market research firm, has analyzed the global oil and gas refining and marketing industryand presents its findings in “Global Oil and Gas Refining and Marketing Industry2012-2017:Trend, Profit and Forecast Analysis.”
The oil and gas refining and marketing industry is highly fragmented and includes segments such as petroleum products and natural gas. The Asia Pacific (APAC) region dominates this industry.Despite the effects of the recession, especially in regions such as Europe and North America, the growth in other areas such as China and India accelerated industry growth.The developing economies of India and China led to growth in demand for petroleum products and natural gas in the APAC region. A combination of factors such as price volatility, climate change concerns, and governmental regulations is seen to affect the industry dynamics considerably.
Lucintel’s research indicates that in 2011the industry witnessed robust growth over 2010 because of increase in crude oil prices due to Arab Spring and civil war in Libya and demand growth in emerging markets, notably China and the Middle East.
As the study indicates, GDP growth, increasing population, rising oil prices, demand from emerging economies, and an increase in use of natural gas for electricity generation worldwideare anticipated to boost the industry. The industry is expected to face certain challenges such as increased regulatoryenvironment; price volatility;geopolitical instability; health, safety and environmental risks; climate change concerns; and human capital deficit.
The study provides an overview of the global oil and gas refining and marketing industry. The report tracks two market segments for four geographic regions; thus, it tracks eight segments of the industry.
For a detailed table of contents and pricing information on this timely,insightful report, contact Lucintel at +1-972-636-5056 or via email at helpdesk(at)lucintel(dot)com. Lucintel provides cutting-edge decision support services that facilitate critical decisions with greater speed, insight, and cost efficiency. Lucintel has started Live Chat in its Web Site to answer visitors' questions in real time with precision. Visitors can either chat with our experts or call them free of cost through Live Chat to get assistance about what they are looking for from Lucintel.