Market Size of Australia Oil And Gas Industry
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| Market Volume (2024) | 150.03 Thousand barrels per day |
| Market Volume (2029) | 121.12 Thousand barrels per day |
| CAGR (2024 - 2029) | -4.19 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Australia Oil and Gas Market Analysis
The Australia Oil And Gas Market size is estimated at 150.03 Thousand barrels per day in 2024, and is expected to decline to 121.12 Thousand barrels per day by 2029.
- Over the medium term, factors such as increasing demand for natural gas and related infrastructural developments are expected to drive the Australian oil and gas market during the forecast period.
- However, the country's shift toward renewable energy, dropping refining capacity, and closure of crude oil refineries in Australia are expected to restrain the market during the forecast period.
- Nevertheless, digitalization in the oil and gas industry, including artificial intelligence (AI), machine learning, data analytics, big data, robotics, virtual reality (VR), and automation, is expected to create immense opportunities for Australia in the coming years.
