Canada Oil and Gas Downstream Market Size (2024 - 2029)

The Canadian downstream oil and gas market is poised for growth, driven by factors such as population increase, urbanization, and industrialization. Despite challenges posed by the rising prevalence of fuel-efficient and electric vehicles, the market is set to expand its market share through strategic enhancements in oil and oil-based products. The country aims to broaden its downstream sector, including oil refining, which is anticipated to offer substantial opportunities for stakeholders in the market.

Market Size of Canada Oil and Gas Downstream Industry

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Canada Oil and Gas Downstream Market Summary
Study Period 2021 - 2029
Base Year For Estimation 2023
Forecast Data Period 2024 - 2029
Historical Data Period 2021 - 2022
CAGR > 1.10 %
Market Concentration Medium

Major Players

Canada Oil and Gas Downstream Market Major Players

*Disclaimer: Major Players sorted in no particular order

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Canada Oil and Gas Downstream Market Analysis

The Canadian oil and gas downstream market is expected to witness a CAGR of more than 1.1% during the forecast period.

The market was negatively impacted by COVID-19 in 2020. However, it has now reached pre-pandemic levels.

  • Canada's rise in population, urbanization, and industrialization is expected to drive the oil and gas downstream market during the forecast period.
  • On the other hand, the growing share of fuel-efficient vehicles and increasing penetration of electric vehicles and renewables are expected to hinder the market growth during the forecast period.
  • Nevertheless, with the increasing demand for oil and gas, the country is planning to increase its market share by creating an impact on its oil and oil-based products. The country is also planning to expand its downstream markets, such as oil refining and others. This, in turn, is expected to create a significant opportunity for the payers involved in the market in the near future.

Canada Oil and Gas Downstream Industry Segmentation

Oil and gas downstream are refining petroleum crude oil, processing and purifying raw natural gas, and marketing and distributing products.

Canada's oil and gas downstream market is segmented by process type. By process type, the market is segmented into refineries and petrochemical plants. The report also covers the market size and forecasts for the Canadian oil and gas downstream market. For each segment, the market sizing and forecasts have been done based on refining capacity (million barrels per day).

Process Type
Refineries
Petrochemical Plants
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Canada Oil and Gas Downstream Market Size Summary

The Canadian downstream oil and gas market is poised for moderate growth, driven by factors such as population increase, urbanization, and industrialization. Despite the initial setbacks due to the COVID-19 pandemic, the market has rebounded to pre-pandemic levels. However, the rise of fuel-efficient and electric vehicles, along with the growing adoption of renewable energy sources, presents challenges to market expansion. Canada aims to bolster its market share by enhancing its oil refining capabilities and expanding downstream operations, which is expected to create significant opportunities for industry players. The country's refining sector, with a total capacity spread across Eastern and Western Canada, plays a crucial role in supplying essential products like fuels, lubricants, and chemicals to various industries.

The market landscape is moderately consolidated, with key players such as Imperial Oil Ltd, Suncor Energy Inc., and Royal Dutch Shell PLC leading the charge. Recent investments, like Irving Oil's expansion of hydrogen capacity, highlight the sector's shift towards cleaner energy solutions. However, the growth of the electric vehicle industry, supported by government policies and incentives, poses a potential threat to traditional petroleum demand. Canada's commitment to increasing zero-emission vehicle sales underscores the shift towards sustainable transportation, which could impact the demand for conventional fuel products. Despite these challenges, strategic partnerships and investments in new technologies, such as blue ammonia and methanol production, indicate a dynamic and evolving market landscape.

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Canada Oil and Gas Downstream Market Size - Table of Contents

  1. 1. MARKET OVERVIEW

    1. 1.1 Introduction

    2. 1.2 Refining Capacity and Forecast in million barrels per day, till 2027

    3. 1.3 Recent Trends and Developments

    4. 1.4 Government Policies and Regulations

    5. 1.5 Key Projects Information

    6. 1.6 Market Dynamics

      1. 1.6.1 Drivers

      2. 1.6.2 Restraints

    7. 1.7 Supply Chain Analysis

    8. 1.8 PESTLE Analysis

  2. 2. MARKET SEGMENTATION

    1. 2.1 Process Type

      1. 2.1.1 Refineries

      2. 2.1.2 Petrochemical Plants

Canada Oil and Gas Downstream Market Size FAQs

The Canada Oil and Gas Downstream Market is projected to register a CAGR of greater than 1.10% during the forecast period (2024-2029)

Imperial Oil Ltd , Suncor Energy Inc. , Royal Dutch Shell Plc , Husky Energy Inc. and Irving Oil Ltd are the major companies operating in the Canada Oil and Gas Downstream Market.

Canada Downstream Oil and Gas Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)