India Oil and Gas Downstream Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)

The market is segmented by Refineries and Petrochemical Plants

Market Snapshot

India Oil and Gas Downstream Market
Study Period:

2016 - 2026

Base Year:



5 %

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Market Overview

The India oil and gas downstream market is expected to grow at a CAGR of more than 5% during the forecast period. Factors such as supportive government policies, efforts to grow the downstream sector coupled with upcoming projects, are expected to drive the market studied. However, the high capital investment required coupled with a lack of financing due to a global economic slowdown in the event of the COVID-19 outbreak is expected to hinder the growth of the market in the coming years.

  • The Refineries segment held the major market share in 2019, and it is likely to dominate the market during the forecast period.
  • Favorable policies for investment by private players in the sector is expected to provide a significant opportunity for the market players.
  • Growing oil and gas consumption in the country is expected to be the major driver for India Oil and Gas Downstream Market.

Scope of the report

The India oil and gas downstream market report include:

Market Overview
Key Project Information
Petrochemical Pants
Market Overview
Key Project Information

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Key Market Trends

Refineries to Dominate the Market

  • Refineries sector has dominated the India oil and gas downstream market in recent years and is expected to continue to do so during the forecast period too.
  • The refinery capacity of the country increased, by 3.65 %, Year-on-Year, to 4,972 thousand barrels per day (kbpd), in 2018, from 4307 kbpd, in 2015. The refining throughput increased from 2.9% to 5154 kbpd, in 2018, from 5010 kbpd, in 2017.
  • In 2018, new refineries were set to be established in various parts of the country like the Barmer refinery and petrochemical complex being built in Rajasthan, India, and is expected to start refining activities by 2022.
  • In 2019, a multi-company deal for a refinery in Maharashtra was signed between Saudi Aramco, HPCL, BPCL, and ADNOC touted as the world's largest greenfield refinery when it is fully completed. The deal is expected to be around USD 70 billion, according to the offer presented by the government of India to the respected companies.
  • Owing to several major upcoming projects for capacity expansion and capacity addition, the refineries sector is expected to dominate the market owing to upcoming projects of expansion and construction of new refineries.
India Oil and Gas Downstream Market - Refining Capacity

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Growing Oil and Gas Consumption to Drive the Market

  • India is a developing country and has witnessed a significant increase in its oil and gas consumption in recent years, mainly due to the rise in the industrial and commercial sectors and increasing population.
  • Oil consumption in the country grew by over 59% in the last decade from 3298 thousand barrels daily in 2009 to 5271 thousand barrels daily in 2019. Gas consumption in the country rose by over 21% from 49.1 billion cubic meters in 2009 to 59.7 billion cubic meters in 2019.
  • The rapid increase in demand for oil and gas is expected to go on during the forecast period and even beyond, fueled by increase economy, industrial sector, and commercial sector.
  • The increasing demand for oil and gas in the country has led to significant investments by private players in the country like Nayara Energy, Reliance Industries Limited, and proposed investment by Saudi Arabian Oil Co. The share of private players in the country’s refining capacity is expected to rise during the forecast period.
  • All of the above factors combined are expected to help drive the India oil and gas downstream market during the forecast period.
India Oil and Gas Downstream Market - Oil Consumption

Competitive Landscape

The India oil and gas downstream market is consolidated. Some of the key players are Indian Oil Corporation Limited, Bharat Petroleum Corporation Limited, Hindustan Petroleum Corporation Limited, Reliance Industries Limited, Nayara Energy Limited, amongst others.

Table of Contents


    1. 1.1 Scope of the Study

    2. 1.2 Market Definition

    3. 1.3 Study Assumptions




    1. 4.1 Introduction

    2. 4.2 Refining Capacity and Forecast in million barrels per day, till 2025

    3. 4.3 Recent Trends and Developments

    4. 4.4 Government Policies and Regulations

    5. 4.5 Market Dynamics

      1. 4.5.1 Drivers

      2. 4.5.2 Restraints

    6. 4.6 Supply Chain Analysis

    7. 4.7 PESTLE Analysis


    1. 5.1 Refineries

      1. 5.1.1 Market Overview

      2. 5.1.2 Key Project Information

    2. 5.2 Petrochemical Pants

      1. 5.2.1 Market Overview

      2. 5.2.2 Key Project Information


    1. 6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements

    2. 6.2 Strategies Adopted by Leading Players

    3. 6.3 Company Profiles

      1. 6.3.1 Indian Oil Corporation Limited

      2. 6.3.2 Bharat Petroleum Corporation Limited

      3. 6.3.3 Hindustan Petroleum Corporation Limited

      4. 6.3.4 Reliance Industries Limited

      5. 6.3.5 Haldia Petrochemicals Ltd.

      6. 6.3.6 GAIL (India) Limited

      7. 6.3.7 Oil and Natural Gas Corporation

      8. 6.3.8 Nayara Energy Limited

      9. 6.3.9 Oman Oil Company

    4. *List Not Exhaustive

**Subject to Availability

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Frequently Asked Questions

The India Oil and Gas Downstream Market market is studied from 2016 - 2026.

The India Oil and Gas Downstream Market is growing at a CAGR of 5% over the next 5 years.

  • Indian Oil Corporation Limited
  • Bharat Petroleum Corporation Limited
  • Hindustan Petroleum Corporation Limited
  • Reliance Industries Limited
  • Nayara Energy Limited

Are the major companies operating in India Oil and Gas Downstream Market.

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