Crude Oil Market: 44% of Growth to Originate from APAC | By Production Area and Geography - Forecast and Analysis 2021-2025

NEW YORK, May 19, 2022 /PRNewswire/ -- The Crude Oil Market Share is expected to increase by 4.78 billion barrels from 2020 to 2025, according to the recent market study by Technavio.

Technavio has announced its latest market research report titled Crude Oil Market by Production Area and Geography - Forecast and Analysis 2021-2025

Segmentation by Production Area (In-Scope/Out-of-Scope)

  • In-Scope:
    • Onshore:

The crude oil market share growth by the onshore segment will be significant during the forecast period. In onshore exploration and production operations, the operating cost of drilling activities is relatively lower compared with offshore operations. This is because offshore operations require advanced technologies and equipment for drilling deep wells in harsh environments. Therefore, crude oil exploration and production companies are increasing their investments in onshore exploration and production projects to gain profit margins. 

  • Out-of-Scope:
    • Offshore

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  • Segmentation- The report extensively covers market segmentation by Production area (onshore and offshore) and Geography (APAC, North America, Europe, MEA, and South America)
  • Key Companies- BP Plc, Chevron Corp., ConocoPhillips Co., Exxon Mobil Corp., PetroChina Co. Ltd., Petroleo Brasileiro SA, Qatar Petroleum, Rosneft Oil Co., Royal Dutch Shell Plc, Saudi Arabian Oil Co. among others
  • Driver- Growing investments in the upstream oil and gas sector to drive the market
  • Trend- Advances in the drilling technology to be future trend of the market

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Vendor Insights-

The crude oil market is fragmented and the vendors are deploying various organic and inorganic growth strategies to compete in the market.

  • BP Plc- The company offers crude oil to regions such as Asia Pacific, Africa, Europe, Middle East, North America, and Central America.
  • Chevron Corp.- The company provides commercial support to their crude oil and natural gas production operations and to their refining and marketing network.
  • Exxon Mobil Corp.- The company offers crude oil using their unique geoscience capabilities and understanding of the global hydrocarbon endowment.

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Learn More about Key Drivers & Trends of the Market-

  • Crude Oil Market Driver:
    • Growing investments in the upstream oil and gas sector:

The rising energy demand across the world has prompted governments to explore untapped oil and gas resources in the upstream sector, using advanced technologies. The production of oil and natural gas is declining from many conventional oilfields. To overcome this issue, oil and gas operators are increasing investments in mature oil and gas fields. The adoption of unconventional exploration and production technologies in large shale deposits has widened opportunities for upstream oil and gas companies. The growing investments in the upstream oil and gas sector will significantly influence crude oil market growth over the forecast period.

  • Crude Oil Market Trend:
    • Advances in the drilling technology:

The Technological development in the hydraulic fracturing process is aiding in the exploration and production of oil and gas from shale plays. The advances in the drilling technology and proppant placement in downhole wells increased hydrocarbon recovery from unconventional wells. Technological advances such as integration of the internet of things (IoT) for data acquisition, as well as the use of data analytics and machine learning, supports the efficiency of tools that is one of the key crude oil market trends. Real-time pressure data is crucial in crude oil production as it eliminates the over-fracturing issue. Automation of hydraulic fracturing optimizes the hydraulic fracturing method using algorithmic controls and supports enhanced well performance.

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Crude Oil Market Scope

Report Coverage


Page number


Base year


Forecast period


Growth momentum & CAGR

Decelerate at a CAGR of 3%

Market growth 2021-2025

4.78 bn barrels

Market structure


YoY growth (%)


Regional analysis

APAC, North America, Europe, MEA, and South America

Performing market contribution

APAC at 44%

Key consumer countries

US, China, India, Russian Federation, and Japan

Competitive landscape

Leading companies, competitive strategies, consumer engagement scope

Companies profiled

BP Plc, Chevron Corp., ConocoPhillips Co., Exxon Mobil Corp., PetroChina Co. Ltd., Petroleo Brasileiro SA, Qatar Petroleum, Rosneft Oil Co., Royal Dutch Shell Plc, and Saudi Arabian Oil Co.

Market Dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and future consumer dynamics, market condition analysis for forecast period,

Customization preview

If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

Table of Contents

Executive Summary

Market Landscape

  • Market ecosystem
  • Value chain analysis

Market Sizing

  • Market definition
  • Market segment analysis
  • Market size 2020
  • Market outlook: Forecast for 2020 - 2025

Five Forces Analysis

  • Five Forces Analysis
  • Bargaining power of buyers
  • Bargaining power of suppliers
  • Threat of new entrants
  • Threat of substitutes
  • Threat of rivalry
  • Market condition

Market Segmentation by Production area

  • Market segments
  • Comparison by Prodcution are
  • Onshore - Market size and forecast 2020-2025
  • Offshore - Market size and forecast 2020-2025
  • Market opportunity by Production area

Customer landscape

  • Customer landscape

Geographic Landscape

  • Geographic segmentation
  • Geographic comparison
  • APAC - Market size and forecast 2020-2025
  • North America - Market size and forecast 2020-2025
  • Europe - Market size and forecast 2020-2025
  • MEA - Market size and forecast 2020-2025
  • South America - Market size and forecast 2020-2025
  • Key leading countries
  • Market opportunity by geography
  • Market drivers
  • Market challenges
  • Market trends

Vendor Landscape

  • Vendor landscape
  • Landscape disruption

Vendor Analysis

  • Vendors covered
  • Market positioning of vendors
  • BP Plc
  • Chevron Corp.
  • ConocoPhillips Co.
  • Exxon Mobil Corp.
  • PetroChina Co. Ltd.
  • Petroleo Brasileiro SA
  • Qatar Petroleum
  • Rosneft Oil Co.
  • Royal Dutch Shell Plc
  • Saudi Arabian Oil Co.


  • Scope of the report
  • Currency conversion rates for US$
  • Research methodology
  • List of abbreviations

About Us
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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