Market Size of Canada Oil and Gas Downstream Industry
| 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
*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.
