Market Size of India Oil And Gas Industry
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| Market Volume (2024) | 38.12 Billion cubic meter |
| Market Volume (2029) | 49.12 Billion cubic meter |
| CAGR (2024 - 2029) | 5.20 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
India Oil and Gas Market Analysis
The India Oil And Gas Market size is estimated at 38.12 Billion cubic meter in 2024, and is expected to reach 49.12 Billion cubic meter by 2029, growing at a CAGR of 5.20% during the forecast period (2024-2029).
The market was negatively impacted by the outbreak of COVID-19 due to regional lockdowns and a decline in demand for refined petroleum products. Currently, the market has rebounded to pre-pandemic levels.
- Factors such as the increasing natural gas pipeline capacity and the increasing demand for petroleum products are expected to drive the Indian oil and gas market during the forecast period. Also, the oil and natural gas market is a major industry in the energy market and plays an influential role in the global economy as the world's primary fuel source. The processes and systems involved in producing and distributing oil and gas are highly complex, capital-intensive, and require state-of-the-art technology.
- However, a huge dependence on imports of crude oil and natural gas to satisfy domestic demand and the high volatility of crude oil prices are expected to hinder the growth of the Indian oil and gas market.
- There have been significant gas hydrate discoveries in the KG Basin. Economically feasible extraction of the gas hydrates may create immense opportunities for the companies, which may lead to a boom in natural gas production.
India Oil and Gas Industry Segmentation
The oil and natural gas market is a major industry in the energy market and plays an influential role in the global economy as the world's primary fuel source. The processes and systems involved in producing and distributing oil and gas are highly complex, capital-intensive, and require state-of-the-art technology. The oil and gas value chain includes extraction of petroleum, refining, transportation, and retailing.
The India oil and gas market is segmented by sector. By sector, the market is segmented into upstream, downstream, and midstream. The market sizing and forecasts have been done based on Production volume (billion cubic meters).
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India Oil And Gas Market Size Summary
The oil and gas industry in India is poised for significant growth, driven by increasing demand for petroleum products and expanding natural gas pipeline capacities. The sector, a crucial component of the global energy market, has rebounded to pre-pandemic levels after the disruptions caused by COVID-19. Despite challenges such as reliance on crude oil imports and price volatility, the industry is expected to benefit from advancements in technology and infrastructure. The discovery of gas hydrates in the KG Basin presents new opportunities for natural gas production, potentially boosting the sector's output. The establishment of new refineries, like Hindustan Petroleum Corp's Barmer project, underscores the industry's expansion, catering to the rising demand for transport fuels and LPG.
The midstream segment, particularly pipeline infrastructure, is set to play a pivotal role in the market's growth. With substantial investments planned to double the exploration area and expand the gas pipeline network, the sector is expected to see increased coverage and capacity. Key players such as Oil and Natural Gas Corporation, Indian Oil Corporation, and Reliance Industries are actively involved in these developments. The government's commitment to enhancing the pipeline infrastructure, alongside investments in city gas distribution networks, is anticipated to drive the market forward. As the industry continues to evolve, the downstream sector is expected to witness significant growth, supported by the expanding refining capacity and ongoing projects across the country.
India Oil And Gas Market Size - Table of Contents
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1. MARKET OVERVIEW
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1.1 Introduction
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1.2 Natural Gas Production Forecast in billion cubic meters, till 2028
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1.3 Crude Oil Production Forecast in billion cubic meters, till 2028
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1.4 Refinery Installed Capacity and Forecast in thousand barrels per day, till 2028
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1.5 LNG Terminals Installed Capacity and Forecast in MTPA, till 2028
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1.6 Recent Trends and Developments
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1.7 Government Policies and Regulations
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1.8 Market Dynamics
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1.8.1 Drivers
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1.8.2 Restraints
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1.9 Supply Chain Analysis
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1.10 PESTLE Analysis
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2. MARKET SEGMENTATION
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2.1 Sector
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2.1.1 Upstream
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2.1.1.1 Location of Deployment
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2.1.1.1.1 Onshore
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2.1.1.1.2 Offshore
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2.1.2 Downstream
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2.1.2.1 Refineries
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2.1.2.2 Petrochemical Plants
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2.1.3 Midstream
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2.1.3.1 Transportation
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2.1.3.2 Storage
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2.1.3.3 LNG Terminals
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India Oil And Gas Market Size FAQs
How big is the India Oil And Gas Market?
The India Oil And Gas Market size is expected to reach 38.12 billion cubic meter in 2024 and grow at a CAGR of 5.20% to reach 49.12 billion cubic meter by 2029.
What is the current India Oil And Gas Market size?
In 2024, the India Oil And Gas Market size is expected to reach 38.12 billion cubic meter.
