Global Hydrocracking Market to reach USD XX billion by 2027.Global Hydrocracking Market is valued at approximately USD XX billion in 2020 and is anticipated to grow with a healthy growth rate of more than XX % over the forecast period 2021-2027. Hydrocracking is a process of converting heavy oil feedstock into high quality lighter fuel products such as diesel, gasoline, kerosene, and naphtha. Also, atmospheric gas oils, vacuum gas oils, deasphalted oil, and thermally cracked gas oils are processed in Hydrocracking. The rise in demand for Jet fuel, kerosene, diesel, and gasoline and
rapid industrialization has led to the adoption of Hydrocracking across the forecast period. For Instance: as per the IBEF, India is expected to be one of the largest contributors to non-OECD petroleum consumption growth globally. Crude Oil import rose sharply to US$ 101.4 billion in 2019-20 from US$ 70.72 billion in 2016-17. According to the International Energy Agency (IEA), consumption of natural gas in India is expected to grow by 25 billion cubic metres (bcm), registering an average annual growth of 9% until 2024. Also, Capability of hydrocrackers to change gas and crude oil into smaller components, the adoption & demand for Hydrocracking is likely to increase the market growth during the forecast period. However, Initial investment and operating expenses impede the growth of the market over the forecast period of 2021-2027.

The key regions considered for the global Hydrocracking market study includes Asia Pacific, North America, Europe, Latin America and Rest of the World. North America is the leading region across the world in terms of market share owing to the rapid pace of technological progress. Whereas, Asia-Pacific is also anticipated to exhibit the highest growth rate over the forecast period 2021-2027. due to the growing number of refineries, which would create profitable growth prospects for the Hydrocracking market across Asia-Pacific region.

Major market players included in this report are:
ExxonMobil
CB&I Company
Axens, Chevron
Flour Corporation, Exxon Mobil
Emerson Electric
Haldor Topsoe
Honeywell International
Shell Global Solutions
UOP
McDermott
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Type:
Single stage
Two-stage flow
Other
By Application:
Refinery
Diesel and jet fuel
Other
By Region:
North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE

Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
Rest of the World

Furthermore, years considered for the study are as follows:

Historical year - 2018, 2019
Base year - 2020
Forecast period - 2021 to 2027

Target Audience of the Global Hydrocracking Market in Market Study:

Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Venture capitalists
Value-Added Resellers (VARs)
Third-party knowledge providers
Investment bankers
Investors