India Oil and Gas Market Overview

Base Year: 2023

Historical Years: 2018-2023

Forecast Years: 2024-2032

Market Growth Rate: 5.50% (2024-2032)

The India oil and gas market is a critical energy sector, driving economic growth with increasing exploration, production, and consumption. According to the latest report by IMARC Group, the market is projected to grow at a CAGR of 5.50% from 2024 to 2032.

India Oil and Gas Market Trends and Drivers:

The rising energy need along with its efforts to enhance domestic production are the factors responsible for the growth of the India oil and gas market. Rapid industrialization, urbanization, and a growing population are fueling the consumption of oil and gas across sectors such as transportation, manufacturing, and power generation.

To cope with this increasing demand, the government is focusing on boosting domestic exploration and production through initiatives like the Hydrocarbon Exploration and Licensing Policy (HELP) and the Discovered Small Fields (DSF) policy. These reforms aim to attract foreign investment and technological advancements in the oil & gas industry. Moreover, the strategic partnerships with key oil-producing nations and the expansion of its refining capacity are playing a crucial role in ensuring energy security. 

A key trend shaping the India oil and gas market is the increasing focus on natural gas as a cleaner along with more sustainable energy source. The push by government authorities for a gas-based economy, with initiatives such as the National Gas Grid and City Gas Distribution (CGD) networks, is driving the expansion of infrastructure for natural gas. This shift is in line with its commitment to lowering carbon emissions and raising the share of natural gas in its energy mix.

Furthermore, the growing adoption of liquefied natural gas (LNG) for industrial and domestic use is accelerating market growth. Technological advancements in drilling and extraction, along with digitalization and automation, are also enhancing operational efficiency and reducing costs in the sector. Continued investment in infrastructure, exploration, and cleaner energy alternatives is anticipated to drive the India oil and gas market in the coming years.

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India Oil and Gas Market Industry Segmentation:

The report has segmented the market into the following categories:

Breakup by Type:

• Upstream
• Midstream
• Downstream

Breakup by Application:

• Offshore
• Onshore

Breakup by Region:

• North India
• West and Central India
• South India
• East and Northeast India

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.

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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.

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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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