Irving, Texas (PRWEB) July 20, 2012
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 boosts these nations use of primary energy. The BRIC countries are gradually increasing their share in global oil consumption, which rose from 15% to 21% during 2000 to 2010. Although evolving hybrid and electric vehicles pose some challenge to the crude oil industry, oil consumption of BRIC and the US is expected to reach US $ 1955.5 Billion by 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 20112020: BRIC Countries and US,.
Lucintels research indicates that, by 2020, US oil consumption is expected to reach a value of US $ 850 Billion in 2020. Despite innovative strategies to check oil consumption and boost biofuels in transportation, the US would remain the worlds largest oil consumer.
Brazils oil consumption is estimated to grow at a CAGR of approximately 2% from 20102020 because of expected development in infrastructure and transportation systems. Russian oil consumption is anticipated to increase with a CAGR of more than 1% because of rising demand for gasoline and diesel in the automobile sector. Indias and Chinas oil consumption is estimated to grow with CAGRs of approximately 11 and 9% respectively during 20102020. Growing middle class demand for private automobiles is expected to escalate oil consumption. Lucintels study indicates Brazil is emerging as a promising destination for investment in crude oil exploration and related segments in the BRIC countries.
Lucintels research report provides trend scenarios and forecast statistics for 20002020; details the industrys drivers and challenges; production; consumption; and demand and supply scenarios of the crude oil industry. The report also examines BRICs resource potential and the competitive advantages of BRIC and the US through Porters Five Forces and diamond analysis.
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(at)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 http://www.lucintel.com.