UAE Oil and Gas Market Size, Industry Growth, and Research Report 2024-2032

UAE Oil and Gas Market Overview 

Base Year: 2023

Historical Years: 2018-2023

Forecast Years: 2024-2032

Market Growth Rate: 6.30% (2024-2032)

According to the latest report by IMARC Group, the UAE oil and gas market size is projected to grow at a CAGR of 6.30% from 2024 to 2032. The market is vital, driven by production expansion, investments in technology, and energy diversification strategies.

UAE Oil and Gas Market Trends and Drivers:

The UAE oil and gas market is expanding due to the country’s strategic focus on boosting oil production capacity and diversifying its energy mix. As a key global oil player, the UAE is enhancing upstream activities by investing in advanced exploration and production technologies. Initiatives like the Abu Dhabi National Oil Company’s plan to raise oil production to five million barrels per day by 2030 are pivotal to the sector’s growth. Additionally, the UAE is prioritizing natural gas production to meet domestic demand and decrease its dependence on imports.

Key trends shaping the UAE oil and gas market include an increasing emphasis on sustainability and the energy transition. The UAE is making significant investments in cleaner energy sources like hydrogen, while also deploying carbon capture, utilization, and storage (CCUS) technologies to reduce emissions in oil and gas operations. Another trend is the growing collaboration with international oil companies (IOCs) and technology providers to drive efficiency and innovation in exploration and refining processes. Expansion of downstream infrastructure, including refining and petrochemical facilities, supports the UAE’s ambition to become a global petrochemical hub. These developments, along with efforts to balance oil production with renewable energy, are expected to drive future growth in the UAE oil and gas market.

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UAE Oil and Gas Industry Segmentation:

The report has segmented the market into the following categories:

Type Insights:

• Upstream

• Midstream

• Downstream
  

Application Insights:

• Offshore

• Onshore
  

Regional Insights:

• Dubai

• Abu Dhabi

• Sharjah

• Others
  

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Competitive Landscape:

The report offers an in-depth examination of the competitive landscape. It includes a thorough competitive analysis encompassing market structure, key player positioning, leading strategies for success, a competitive dashboard, and a company evaluation quadrant.

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.

About Us:

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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