[ad_1]
DUBLIN, May 15, 2023 /PRNewswire/ — The “Oil And Gas Global Market Report 2023” report has been added to ResearchAndMarkets.com’s offering.
This report provides strategists, marketers and senior management with the critical information they need to assess the market.
The global oil and gas market grew from $6,989.65 billion in 2022 to $7,330.80 billion in 2023 at a compound annual growth rate (CAGR) of 4.9%. The oil and gas market is expected to grow to $8,670.91 billion in 2027 at a CAGR of 4.3%.
Major companies in the oil and gas market include Royal Dutch Shell, BP plc, Saudi Aramco, Exxon Mobil, Gazprom PAO, Chevron, Iraq Ministry of Oil, PJSC Lukoil, Total SA, and Rosneft.
Reasons to Purchase
- Gain a truly global perspective with the most comprehensive report available on this market covering 50+ geographies.
- Understand how the market has been affected by the COVID-19 and how it is responding as the impact of the virus abates.
- Assess the Russia – Ukraine war’s impact on agriculture, energy and mineral commodity supply and its direct and indirect impact on the market.
- Measure the impact of high global inflation on market growth.
- Create regional and country strategies on the basis of local data and analysis.
- Identify growth segments for investment.
- Outperform competitors using forecast data and the drivers and trends shaping the market.
- Understand customers based on the latest market shares.
- Benchmark performance against key competitors.
- Suitable for supporting your internal and external presentations with reliable high quality data and analysis
The main types are oil & gas upstream activities, oil downstream products. Oil and gas upstream activities include exploration activities, such as creating geological surveys and obtaining land rights and production activities, such as onshore and offshore drilling. The various drilling types include offshore; onshore that are used for residential, commercial, institutions and other applications.
Oil price volatility is likely to have a negative impact on the market as significant decline and increase in oil prices negatively impacts the government and consumer spending.
The decline in oil prices is having a negative impact on government spending in countries such as Saudi Arabia, Nigeria and the UAE (United Arab Emirates) which are largely dependent on revenues generated through crude oil exports; whereas significant increase in oil prices had resulted in rising inflation, current account deficit and fiscal deficit in countries such as India and China, which predominantly import oil.
For instance, the Saudi government is expected to cut down its spending from 1.05 trillion riyals ($280 billion) in 2019 to 1.02 trillion riyals ($270 billion) in 2020, to 955 billion riyals ($255 billion) by 2022, due to significant decline in revenues generated from oil exports, thereby affecting the market. This high volatility in oil prices is expected to negatively impact the market going forward.
Major companies in the oil and gas industry are looking into big data analytics and artificial intelligence (AI) to enhance decisions making abilities and thus drive profits. The companies in this industry gather huge amounts of raw data relating to the working of refineries, pipelines and other infrastructure through a large number of sensors placed across the oil rig.
Using big data analytics, the companies can detect patterns which can allow them to quickly react to unwanted changes or potential defects, thus saving costs. AI allows the companies to take better drilling and operational decisions.
Companies such as ExxonMobil and Shell have been increasingly investing in AI technology to have a centralized method of data management and support data integration across multiple applications. Other companies such as Sinopec, a Chinese chemical and petroleum corporation, has announced its decision to construct 10 intelligent centers to help in reducing operation costs by 20%.
Asia-Pacific was the largest region in the oil and gas market in 2022. North America was the second largest region in the oil and gas market. The regions covered in the oil and gas market are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The countries covered in the oil and gas market are Argentina, Australia, Austria, Belgium, Brazil, Canada, Chile, China, Colombia, Czech Republic, Denmark, Egypt, Finland, France, Germany, Hong Kong, India, Indonesia, Ireland, Israel, Italy, Japan, Malaysia, Mexico, Netherlands, New Zealand, Nigeria, Norway, Peru, Philippines, Poland, Portugal, Romania, Russia, Saudi Arabia, Singapore, South Africa, South Korea, Spain, Sweden, Switzerland, Thailand, Turkey, UAE, UK, USA, Venezuela and Vietnam.
Low interest rates in most developed countries will positively impact the oil and gas industry during the forecast period. For instance, in March 2020, UK decreased the interest rates to 0,1% which was the lowest ever. Furthermore, other central banks of countries such as North Macedonia, South Africa, Malaysia, Kenya, Argentina, Ukraine, Sri Lanka, and Azerbaijan, as well as Turkey also decreased their interest rates in 2020.
The oil and gas market consists of sales of crude oil, natural gas, refined petroleum products and asphalt, lubricating oil and grease. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Key Topics Covered:
1. Executive Summary
2. Report Structure
3. Oil And Gas Market Characteristics
3.1. Market Definition
3.2. Key Segmentations
4. Oil And Gas Market Product Analysis
4.1. Leading Products/Services
4.2. Key Features and Differentiators
4.3. Development Products
5. Oil And Gas Market Supply Chain
5.1. Supply Chain
5.2. Distribution
5.3. End Customers
6. Oil And Gas Market Customer Information
6.1. Customer Preferences
6.2. End Use Market Size and Growth
7. Oil And Gas Market Trends And Strategies
8. Oil And Gas Market Market – Macro Economic Scenario
8.1 COVID-19 Impact On Oil And Gas Market Market
8.2 Ukraine-Russia War Impact On Oil And Gas Market Market
8.3 Impact Of High Inflation On Oil And Gas Market Market
9. Oil And Gas Market Size And Growth
9.1. Market Size
9.2. Historic Market Growth, Value ($ Billion)
9.2.1. Drivers Of The Market
9.2.2. Restraints On The Market
9.3. Forecast Market Growth, Value ($ Billion)
9.3.1. Drivers Of The Market
9.3.2. Restraints On The Market
10. Oil And Gas Market Regional Analysis
10.1. Global Oil And Gas Market, 2022, By Region, Value ($ Billion)
10.2. Global Oil And Gas Market, 2017-2022, 2022-2027F, 2032F, Historic And Forecast, By Region
10.3. Global Oil And Gas Market, Growth And Market Share Comparison, By Region
11. Oil And Gas Market Segmentation
11.1. Global Oil And Gas Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- Oil & Gas Upstream Activities
- Oil Downstream Products
11.2. Global Oil And Gas Market, Segmentation By Drilling Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
11.3. Global Oil And Gas Market, Segmentation By Application, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- Residential
- Commercial
- Institutions
- Other Applications
12. Oil And Gas Market Segments
12.1. Global Oil & Gas Upstream Activities Market, Segmentation By Type, 2017-2022, 2022-2027F, 2032F, Value ($ Billion) – Crude Oil; Natural Gas; Oil And Gas Wells Drilling Services; Oil And Gas Supporting Activities
12.2. Global Oil Downstream Products Market, Segmentation By Type, 2017-2022, 2022-2027F, 2032F, Value ($ Billion) – Refined Petroleum Products; Asphalt, Lubricating Oil And Grease
13. Oil And Gas Market Metrics
13.1. Oil And Gas Market Size, Percentage Of GDP, 2017-2027, Global
13.2. Per Capita Average Oil And Gas Market Expenditure, 2017-2027, Global
For more information about this report visit https://www.researchandmarkets.com/r/bzkh47
About ResearchAndMarkets.com
ResearchAndMarkets.com is the world’s leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.
Media Contact:
Research and Markets
Laura Wood, Senior Manager
[email protected]
For E.S.T Office Hours Call +1-917-300-0470
For U.S./CAN Toll Free Call +1-800-526-8630
For GMT Office Hours Call +353-1-416-8900
U.S. Fax: 646-607-1907
Fax (outside U.S.): +353-1-481-1716
Logo: https://mma.prnewswire.com/media/539438/Research_and_Markets_Logo.jpg
SOURCE Research and Markets
[ad_2]
Source_link
