Oil and Gas Market - UAE
Market Statistics
Base Year: 2023
Historical Years: 2018-2023
Forecast Years: 2024-2032
Market Growth Rate: 6.30% (2024-2032)
The UAE oil and gas market is expanding due to rising global demand, investment in technology, and diversification of energy sources. According to the latest report by IMARC Group, the market is projected to grow at a CAGR of 6.30% from 2024 to 2032.
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UAE Oil and Gas Market Trends and Drivers:
- The UAE oil and gas market is expanding due to a strategic focus on increasing oil production capacity and diversifying its energy portfolio.
- As a key player in the global oil market, the UAE is investing in advanced exploration and production technologies to enhance upstream operations.
- Initiatives like the Abu Dhabi National Oil Company’s plan to boost oil production to five million barrels per day by 2030 are vital for sector development.
- The UAE is prioritizing natural gas production to meet domestic demand and decrease reliance on imports.
- Key trends shaping the market include a growing emphasis on sustainability and the energy transition.
- Substantial investments in cleaner energy sources, such as hydrogen, and the implementation of carbon capture, utilization, and storage (CCUS) technologies are aimed at reducing emissions from operations.
- There is increasing collaboration with international oil companies (IOCs) and technology providers to enhance efficiency and foster innovation in exploration and refining processes.
- The expansion of downstream infrastructure, including refining and petrochemical facilities, supports the UAE’s ambition to become a global petrochemical hub.
- These initiatives, along with efforts to balance oil production with renewable energy sources, are expected to drive future growth in the UAE oil and gas market.
UAE Oil and Gas Industry Segmentation:
The market report offers a comprehensive analysis of the segments, highlighting those with the largest UAE oil and gas market share. It includes forecasts for the period 2024-2032 and historical data from 2018-2023 for the following segments.
Type Insights:
- Upstream
- Midstream
- Downstream
Application Insights:
- Offshore
- Onshore
Regional Insights:
- Dubai
- Abu Dhabi
- Sharjah
- Others
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Competitive Landscape:
The competitive landscape of the industry has also been examined along with the profiles of the key players.
Key highlights of the Report:
- Market Performance (2018-2023)
- Market Outlook (2024-2032)
- COVID-19 Impact on the Market
- Porter’s Five Forces Analysis
- Strategic Recommendations
- Historical, Current and Future Market Trends
- Market Drivers and Success Factors
- SWOT Analysis
- Structure of the Market
- Value Chain Analysis
- Comprehensive Mapping of the Competitive Landscape
Note: If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
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IMARC Group is a global management consulting firm that helps the world’s most ambitious changemakers to create a lasting impact. The company provide a comprehensive suite of market entry and expansion services. IMARC offerings include thorough market assessment, feasibility studies, company incorporation assistance, factory setup support, regulatory approvals and licensing navigation, branding, marketing and sales strategies, competitive landscape and benchmarking analyses, pricing and cost research, and procurement research.
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