Brazil, Russia, India, and China (BRIC)play crucial roles in global economic development, climate change, and primary energy usage. Strong economic growth and low per capita energy consumption booststhese nations’ primary energyuse. The BRIC countries are increasing their share in global oil consumption, which rose from 15% to 21% during 2000 to2010. Although evolving hybrid and electric vehicles pose somechallenge to the crude oil industry, oil consumption of BRIC and the US is expected to reach US $1,955billionby 2020.
Lucintel, a leading global Management Consulting and market research firm, analyzes the crude oil industry and presents its findings in its report, “Regional Benchmarking of Crude Oil Industry 2011–2020: BRIC Countries and US.”
Lucintel’s research indicates that,by 2020, US oil consumption is expected to reach a value of $850 billion. Despite innovative strategies to check oil consumption and boost biofuels in transportation, theUS would remain the world’s largest oil consumer.India and China are driving BRIC oil consumption through 2020. Large populations and the rapidly expanding middle class fosters huge potential in these countries. In BRIC, the strong correlation between GDP and oil consumption growth means that oil consumption is likely to grow with rapid economic growth through 2020. These countries are likely to be the growth engines of the future. Spending power is likely to shift away from the richest countries to the middle class in these countries, leading to higher consumption of oil.
As per Lucintel’s study, Brazil’s oil consumption is estimated to growat a CAGR of approximately 2% from2010–2020 because ofprojecteddevelopment in infrastructure and transportation systems. Russian oil consumption is anticipated to surpass a CAGR of 1% because ofrising demand for gasoline and diesel in the automobile sector. India’s and China’s oil consumption is estimated to growwith CAGRs of approximately 11% and 9% respectively during 2010–2020. Growing middle class demandfor private automobiles is expected toescalate oil consumption.Lucintel’s study indicates that Brazil is emerging as a promising destination for investment in crude oil exploration and related segments in the BRIC countries.
Lucintel’s researchreport provides trend scenarios and forecast statistics for 2000–2020;details industry drivers and challenges;production; consumption;and demand and supply scenarios of the crude oil industry.The report also examines the BRIC countries’ resource potential and theCompetitive Advantages of BRIC and the US through Porter’s Five Forces and diamond analysis; scenario analysis of crude oil industry for BRIC and the US, and more.
For a detailed table of contents and pricing information on this timely, insightful report, contact Lucintel at +1-972-636-5056 or via email at helpdesk@lucintel.com. Lucintel provides cutting-edge decision support services that help facilitate critical decisions with greater speed, insight, and cost efficiency. To find out more, please visit www.lucintel.com.
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Steve Parker, +1-972-636-5056 or via email at helpdesk@lucintel.com .