UAE Oil and Gas Market Expected to Grow at a CAGR of 6.30% during 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 growing through advanced extraction techniques, natural gas expansion, and sustainability initiatives like CCUS and green hydrogen.

UAE Oil and Gas Market Trends and Drivers:

The initiative of the country to maintain its position as a leading global energy supplier while also transitioning towards a more diversified and sustainable energy future are the factors responsible for the growth of the UAE oil and gas market. Additionally, the UAE is investing heavily in advanced extraction technologies and enhanced oil recovery (EOR) techniques to maximize output from existing reserves, ensuring the longevity of its oil production. Besides this, the country is expanding its natural gas production to meet both domestic energy needs and export demands, reflecting a broader regional trend of increasing gas consumption. These efforts are aligned with the broader economic diversification goals of the UAE, which include reducing the dependency on oil revenues by investing in downstream industries such as petrochemicals and refining.

A significant trend in the UAE oil and gas market is the increasing focus on sustainability and reducing carbon emissions. In addition to this, the UAE is pioneering the adoption of carbon capture, utilization, and storage (CCUS) technologies, integrating them into its oil and gas operations to minimize environmental impact, which is acting as another significant growth-inducing factor. Furthermore, the UAE is also leading efforts in green hydrogen production, positioning itself as a future exporter of this clean energy source. The commitment by government authorities to reducing the carbon footprint of its oil and gas sector is also evident in initiatives like the drive of Abu Dhabi National Oil Company to reduce greenhouse gas emissions and enhance energy efficiency, which is anticipated to drive the UAE oil and gas market over the forecasted period.

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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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