The rising awareness about green energy sources across the world is transforming the energy and power industry. The trend of green energy is emerging on account of increasing environmental pollution from traditional energy resources. Governments are playing a significant role on conducting awareness programs about clean energy. Fortune Business Insights in a report, titled “Vacuum Gas Oil Market Size, Share and Global Trend By Product (Light Vacuum Gas Oil (LVGO), Heavy Vacuum Gas Oil (HVGO)), By Sulfur Content (Low Sulfur Vacuum Gas Oil, High Sulfur Vacuum Gas Oil), By Application (Gasoline Production, Diesel Oil Production) and Geography Forecast till 2026” published the above information.
For more information in the analysis of this report, visit https://www.fortunebusinessinsights.com/industry-reports/vacuum-gas-oil-market-101371
Fortune Business Insights provides a detailed evaluation of the global market by analyzing the factors driving the market. Besides this, it also discusses some of the economic trends prevailing in the energy and power industry. These trends are analyzed in the report to see an overall impact on the global market.
Top Players Overview:
- Axeon Specialty Products
- Vertex Refining
- Honeywell UOP
- Gazprom Neft
- Kuwait Petroleum Corporation
- Zhejiang Petrochemical Corporation
- S. Oil & Refining Co.
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Key Market Driver – Increasing demand for bunkering fuel
Key Market Restraint – Stringent norms by various organizations
Increasing use of smart grids and smart metering are likely to help for the better management of power services. Better infrastructural facilities are also expected to encourage growth in the market.
The increased spending on oil and gas across the world is another factor likely to drive the Vacuum Gas Oil Market. Rising investments in energy efficiency projects backed by governments may also stimulate growth in the market. The penetration of renewable sources is increasing, fueling demand for energy and which is expected to drive the Vacuum Gas Oil Market.
Key Segmental Overview:
1. By Product
- Light Vacuum Gas Oil (LVGO)
- Heavy Vacuum Gas Oil (HVGO)
2. By Sulfur Content
- Low Sulfur Vacuum Gas Oil
- High Sulfur Vacuum Gas Oil
3. By Application
- Gasoline Production
- Diesel Oil Production
4. By Geography
- North America (The USA and Canada)
- Europe (UK, Germany, France, Spain, and Rest of Europe)
- Asia Pacific (China, India, Japan, Australia, Southeast Asia and Rest of Asia Pacific)
- Latin America (Brazil, Mexico, and Rest of Latin America)
- Middle East & Africa (South Africa, GCC, and Rest of the Middle East & Africa)
The information used is derived from various primary and secondary sources. It also throws light on some of the major players operating in the market. The report studies profiles of these leading companies and their share in the market. It provides insights on some of the strategies adopted by these companies to survive competition and maintain their stronghold.
Major Table of Content For Vacuum Gas Oil Market:
- Executive Summary
- Market Dynamics
- Key Insights
- Global Vacuum Gas Oil Market Analysis, Insights and Forecast, 2014-2025
- North America Vacuum Gas Oil Market Analysis, Insights and Forecast, 2014-2025
- Europe Vacuum Gas Oil Market Analysis, Insights and Forecast, 2014-2025
- Asia Pacific Vacuum Gas Oil Market Analysis, Insights and Forecast, 2014-2025
- Middle East and Africa Vacuum Gas Oil Market Analysis, Insights and Forecast, 2014-2025
- Latin America Vacuum Gas Oil Market Analysis, Insights and Forecast, 2014-2025
- Competitive Landscape
- Company Profile
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Key Industry Developments
- In July 2019, Gazprom Neft deployed a new automated fuel loading terminal for efficient light oil products transport. The expansion aims at increasing the company’s reach to nearby areas and thereby develop a station with enhanced capacity of about 6,500 tons per day.
- In May 2018, Zhejiang Petrochemical announced to complete the construction of two new diesel hydrocracking facilities in China. The units have a combined capacity of 3.5 million tons/year and targets to improve its annual production capacity to cater to petroleum products demand.
- In May 2016, Lukoil commissioned a novel hydrocracking facility for vacuum gas oil named as Oil Deep Conversion Complex in Russia. The division is set to operate as the country’s biggest VGO deep conversion unit with a capacity of about 5 million tons/year.
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