India Oil And Gas Market Size (2024 - 2029)

The market size of the Indian Oil and Gas sector is expected to grow during the forecast period due to factors such as increasing natural gas pipeline capacity and higher demand for petroleum products. The industry, a key player in the energy market, has a significant influence on the global economy. However, the market's growth may be hindered by the country's heavy reliance on crude oil and natural gas imports and the high volatility of crude oil prices. Notably, the discovery of significant gas hydrates in the KG Basin could present immense opportunities, potentially leading to a surge in natural gas production.

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Market Size of India Oil And Gas Industry

India Oil And Gas Market Summary
Study Period 2020 - 2029
Base Year For Estimation 2023
Market Volume (2024) 38.12 Billion cubic meter
Market Volume (2029) 49.12 Billion cubic meter
CAGR (2024 - 2029) 5.20 %
Market Concentration Low

Major Players

India Oil And Gas Market Major Players

*Disclaimer: Major Players sorted in no particular order
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India Oil and Gas Market Analysis

The India Oil And Gas Market size is estimated at 38.12 Billion cubic meter in 2024, and is expected to reach 49.12 Billion cubic meter by 2029, growing at a CAGR of 5.20% during the forecast period (2024-2029).

The market was negatively impacted by the outbreak of COVID-19 due to regional lockdowns and a decline in demand for refined petroleum products. Currently, the market has rebounded to pre-pandemic levels.

  • Factors such as the increasing natural gas pipeline capacity and the increasing demand for petroleum products are expected to drive the Indian oil and gas market during the forecast period. Also, the oil and natural gas market is a major industry in the energy market and plays an influential role in the global economy as the world's primary fuel source. The processes and systems involved in producing and distributing oil and gas are highly complex, capital-intensive, and require state-of-the-art technology.
  • However, a huge dependence on imports of crude oil and natural gas to satisfy domestic demand and the high volatility of crude oil prices are expected to hinder the growth of the Indian oil and gas market.
  • There have been significant gas hydrate discoveries in the KG Basin. Economically feasible extraction of the gas hydrates may create immense opportunities for the companies, which may lead to a boom in natural gas production.

India Oil and Gas Industry Segmentation

The oil and natural gas market is a major industry in the energy market and plays an influential role in the global economy as the world's primary fuel source. The processes and systems involved in producing and distributing oil and gas are highly complex, capital-intensive, and require state-of-the-art technology. The oil and gas value chain includes extraction of petroleum, refining, transportation, and retailing.

The India oil and gas market is segmented by sector. By sector, the market is segmented into upstream, downstream, and midstream. The market sizing and forecasts have been done based on Production volume (billion cubic meters).

Sector
Upstream
Location of Deployment
Onshore
Offshore
Downstream
Refineries
Petrochemical Plants
Midstream
Transportation
Storage
LNG Terminals

India Oil And Gas Market Size Summary

The India Oil and Gas Market is projected to experience significant growth in the coming years. This expansion is driven by factors such as increasing natural gas pipeline capacity and a rising demand for petroleum products. However, the market faces challenges such as a heavy reliance on crude oil and natural gas imports to meet domestic demand and the high volatility of crude oil prices. Despite these obstacles, the discovery of substantial gas hydrate reserves in the KG Basin could present immense opportunities for companies and potentially lead to a surge in natural gas production. The market is also seeing significant trends in the downstream sector, with an anticipated surge in energy demand expected to fuel growth. Despite the increasing popularity of renewable energy sources, petroleum fuel remains a major global energy source, a trend that is expected to continue for the foreseeable future. This, coupled with the establishment of new refineries and a high demand for transport fuels, is expected to boost the oil and gas downstream market. Additionally, increasing investments in the midstream sector are predicted to contribute a considerable share to the Indian oil and gas market in the future.

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India Oil And Gas Market Size - Table of Contents

  1. 1. MARKET OVERVIEW

    1. 1.1 Introduction

    2. 1.2 Natural Gas Production Forecast in billion cubic meters, till 2028

    3. 1.3 Crude Oil Production Forecast in billion cubic meters, till 2028

    4. 1.4 Refinery Installed Capacity and Forecast in thousand barrels per day, till 2028

    5. 1.5 LNG Terminals Installed Capacity and Forecast in MTPA, till 2028

    6. 1.6 Recent Trends and Developments

    7. 1.7 Government Policies and Regulations

    8. 1.8 Market Dynamics

      1. 1.8.1 Drivers

      2. 1.8.2 Restraints

    9. 1.9 Supply Chain Analysis

    10. 1.10 PESTLE Analysis

  2. 2. MARKET SEGMENTATION

    1. 2.1 Sector

      1. 2.1.1 Upstream

        1. 2.1.1.1 Location of Deployment

          1. 2.1.1.1.1 Onshore

          2. 2.1.1.1.2 Offshore

      2. 2.1.2 Downstream

        1. 2.1.2.1 Refineries

        2. 2.1.2.2 Petrochemical Plants

      3. 2.1.3 Midstream

        1. 2.1.3.1 Transportation

        2. 2.1.3.2 Storage

        3. 2.1.3.3 LNG Terminals

India Oil And Gas Market Size FAQs

The India Oil And Gas Market size is expected to reach 38.12 billion cubic meter in 2024 and grow at a CAGR of 5.20% to reach 49.12 billion cubic meter by 2029.

In 2024, the India Oil And Gas Market size is expected to reach 38.12 billion cubic meter.

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