Market Size of Central Asia Oil and Gas Industry
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2020 - 2022 |
| CAGR | > 2.00 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Central Asia Oil & Gas Market Analysis
The Central Asia oil and gas market is expected to register a CAGR of over 2% during the forecast period.
The market was negatively impacted by COVID-19 in 2020. Presently the market has now reached pre-pandemic levels.
- Over the medium term, the growing demand for natural gas is expected to stimulate the market growth of Central Asia oil and gas market. Furthermore, increasing investments and ambitious oil and gas production targets are expected to drive the growth of the market studied.
- On the other hand, lack of capital and technological advancement are expected to hamper the growth of Central Asia oil and gas market during the forecast period.
- Nevertheless, oil and gas discoveries in countries like Turkmenistan and Kazakhstan are likely to create lucrative growth opportunities for the Central Asia oil and gas market in the forecast period.
- Kazakhstan dominates the market and is also likely to witness the highest CAGR during the forecast period. This growth is attributed to the increasing investments, coupled with increase in oil and natural gas production.
