The regular oil and gas refinery maintenance services have risen in significance in countries to maintain an optimal function of refinery plants. The oil and gas refinery is an asset-intensive infrastructure, propelling the need for scheduled maintenance of the entire lifecycle of asset. The crude oil refinery maintenance market is primarily attributed to surge in demand for refined fuel. The oil and gas refinery maintenance services market has seen the growing popularity of reliability centered management strategies in enterprises asset management (EAM) systems.
The "Global Crude Oil Refinery Maintenance Market Analysis to 2028" is a specialized and in-depth study of the oil & gas industry with a special focus on the global market trend analysis. The report aims to provide an overview of the crude oil refinery maintenance market with detailed market segmentation by type, type of maintenance and geography. The report provides key statistics on the market status of the leading crude oil refinery maintenance market players and offers key trends and opportunities in the market.
On the basis of type the market is segmented into turnaround and maintenance and repair
On the basis of type of maintenance, the market is segmented as planned and unplanned
o Growing Demand for Refined Fuel
o Increasing Number of Aging Refineries
o Fluctuations in crude oil prices
The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global market based on various segments. It also provides market size and forecast estimates from the year 2020 to 2028 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), the Middle East and Africa (MEA), and South America (SAM). The crude oil refinery maintenance market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.
The report analyzes factors affecting the market from both demand and supply side and further evaluates market dynamics affecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trends. The report also provides exhaustive PEST analysis for all five region, evaluating political, economic, social and technological factors affecting the crude oil refinery maintenance market in these regions.
IMPACT OF COVID-19 ON CRUDE OIL REFINERY MAINTENANCE MARKET
The emergence of the COVID-19 has severely impacted the oil & gas industries, which resulted decline in the crude oil refinery maintenance market in the year 2020. The pandemic severely impacted the oil & gas industry in countries such as US and China. In addition, governments across the world were compelled to reduce the business activities in response to minimize the threat of coronavirus. Owing the decline in the business activities has further negatively impacted the market dynamics for in the short term. The unavailability of raw material and disruption of supply chain due to the pandemic has affects the market prospects. Furthermore, project delays and cancellation of orders has affected the key market. Hence, from 2021, the ease in restriction and increase in demand for oil & gas products have fueled the market growth over the projected period. The growing demand for refined fuel in pandemic recovery period is propelling the market growth.
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The report covers key developments in the crude oil refinery maintenance market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as advancement in products, reallocation of resources and others such as patents and events. Inorganic growth strategies activities witnessed in the market were acquisitions, and partnership & collaborations. These activities have paved way for the expansion of business and customer base of market players. The market players in the crude oil refinery maintenance market are anticipated to provide lucrative growth opportunities in the future owing to rise in demand for oil & gas across various industrial applications.
The report also includes the profiles of key companies along with their SWOT analysis and market strategies in the crude oil refinery maintenance market. In addition, the report focuses on leading industry players with information such as company profiles, components, and services offered, financial information of the last 3 years, the key development in the past five years.
Lewis Rice LLC
Intertek Group plc
JGC HOLDINGS CORPORATION
Motiva Enterprises LLC
Exxon Mobil Corporation
The Insight Partner's dedicated research and analysis team consist of experienced professionals with advanced statistical expertise and offer various customization options in the existing study.