UAE Oil and Gas Market Trends 2024, Industry Growth, Forecast Report By 2032

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 a major global energy supplier, driven by significant reserves and advanced infrastructure. 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:

• Expanding Production Capacity: The UAE is focused on increasing oil production capacity and diversifying its energy mix, positioning itself as a leading global oil producer.

• Upstream Activities: The country is investing in advanced exploration and production technologies to enhance upstream activities, supporting its growth strategy.

• ADNOC's Initiative: The Abu Dhabi National Oil Company (ADNOC) aims to raise oil production to five million barrels per day by 2030, driving significant growth in the sector.

• Natural Gas Prioritization: To meet domestic demand and reduce reliance on imports, the UAE is emphasizing natural gas production.

• Sustainability and Energy Transition: The UAE is placing greater emphasis on sustainability by investing in cleaner energy sources such as hydrogen.

• Carbon Capture Technologies: The adoption of carbon capture, utilization, and storage (CCUS) technologies is helping to lower emissions in oil and gas operations.

• Collaboration with IOCs: Increased collaboration with international oil companies (IOCs) and technology providers is driving efficiency and innovation in exploration and refining processes.

• Downstream Infrastructure Expansion: The UAE is expanding its refining and petrochemical infrastructure, aligning with its goal to become a global petrochemical hub.

• Balancing Oil and Renewable Energy: Efforts to balance oil production with renewable energy initiatives 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

Request for customization: https://www.imarcgroup.com/request?type=report&id=24521&flag=C

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.

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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