The market is dominated by domestic suppliers, as imports account for 24.8% of total market size in 2023. B2B drives market demand, with B2B spending representing 80.9% of total demand in 2023. India has the fourth largest market size for refined petroleum products regionally, with demand reaching USD129 billion in 2023. Indian Oil Corp Ltd is the largest company in India, generating 22.0% of the industry’s total production value in 2023. The industry is concentrated, with the top five companies generating 69.1% of total production value in 2023. The total number of companies decreases in 2023, to 94,722 units. The costs of the industry decrease by 2.9% in 2023, largely driven by declining B2B costs. The industry’s profitability increases and stands at 3.6% of production value in 2023, the 18th highest regionally. The industry’s exports share decreases in 2023 to 52.6% of total production output. With production value of USD201 billion, India accounts for 15.0% of the Asia Pacific total in 2023.
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This Euromonitor industrial report provides unique information on Refined Petroleum Products in India: ISIC 232. With this industrial report, you’ll be able to explore the industry from its sources of supply to its buyers. The Refined Petroleum Products in India: ISIC 232 report includes: Industry datagraphics including production data, exports, imports, cost structure, and profitability
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