Global Hydrocracker Market 2018-2022
About this market
Fluctuations in crude oil prices to drive growth in the hydrocrackers market. The recent stabilization of crude oil prices has motivated major oil and gas companies to resume their E&P activities and produce fuels to meet the demand. Technavio’s analysts have predicted that the hydrocracker market will register a CAGR of almost 2% by 2022.
Increased complexity of refineries
High complexity refineries produce the highest yield of lighter and higher value products using catalytic cracking, hydrocracking, and coking capacities. This fuel the growth of the hydrocracker market.
Increase in renewable energy investments for power generation
Renewable energy, as a primary source of energy, is becoming a competitive option compared to fossil fuels and is currently being adopted in many countries. This stands as a major threat for hydrocracker market growth.
For the detailed list of factors that will drive and challenge the growth of the hydrocracker market during the 2018-2022, view our report.
The market appears to be fragmented and with the presence of several companies including Honeywell International and Royal Dutch Shell the competitive environment is quite intense. Factors such as the increased complexity of refineries and the fluctuations in crude oil prices, will provide considerable growth opportunities to hydrocracker manufactures. Axens, Chevron, Emerson Electric, Haldor Topsoe, Honeywell International, and Royal Dutch Shell are some of the major companies covered in this report.
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