Market Size of India Oil and Gas Upstream Industry
| Study Period | 2021 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2021 - 2022 |
| CAGR | < 1.00 % |
| Market Concentration | High |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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India Oil & Gas Upstream Market Analysis
The oil and gas upstream market in India is expected to record a CAGR of more than 1% during the forecast period.
The market was negatively impacted by COVID-19 in 2020. Currently. The market has reached pre-pandemic levels.
- Over the long term, factors such as increasing oil consumption and government efforts to reduce dependence on energy imports are expected to drive the market during the forecast period.
- On the other hand, a lack of new discoveries, coupled with insufficient exploration activities, is expected to restrain the market's growth during the forecast period.
- Nevertheless, the thorough exploration and development of hydrocarbon reserves across the large acreage spread across 16 prospective onshore basins in India remains a significant growth opportunity for the market during the forecast period.
