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 driven by production capacity, technological advancements, and diversification efforts toward sustainable energy sources.
UAE Oil and Gas Market Trends and Drivers:
The strategic focus of the country on increasing oil production capacity as well as diversifying its energy portfolio are the factors responsible for the growth of the UAE oil and gas market. Additionally, as a major player in the global oil market, the UAE is expanding its upstream activities to enhance crude output, particularly through investments in advanced exploration and production technologies. Besides this, initiatives by government authorities, such as the five-year strategy of Abu Dhabi National Oil Company to increase oil production to five million barrels per day by 2030, are crucial drivers in this sector. Moreover, the UAE is focusing on boosting its natural gas production to meet domestic demand and reduce its reliance on imports.
Key trends shaping the UAE oil and gas market include a growing emphasis on sustainability and energy transition. The UAE is increasingly investing in cleaner energy sources, such as hydrogen, and adopting carbon capture, utilization, and storage (CCUS) technologies to reduce emissions in its oil and gas operations. Another significant trend is the increased collaboration with international oil companies (IOCs) and technology providers to enhance efficiency and innovation in exploration and refining processes. The development of downstream infrastructure, including refining and petrochemical facilities, is also expanding, aligning with the goal of becoming a global hub for petrochemical production. These trends, along with the efforts to balance oil production with renewable energy projects, are expected to shape the future growth of the UAE oil and gas market in the coming years.
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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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