Market Size of Italy Oil and Gas Downstream Industry
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2020 - 2022 |
| CAGR | < 1.00 % |
| Market Concentration | High |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Italy Oil and Gas Downstream Market Analysis
The Southeast Asia oil and gas downstream market is expected to register a CAGR of less than 1.0% during the forecast period of 2020-2025. Factors, such as increasing production of oil, are expected to boost the need for the Italian oil and gas downstream market during the forecast period. However, competition from refineries around the world, especially China, led to a slowdown in the sector, with many refineries not able to utilize full capacity.
- The refinery capacity in the country remained stagnant during the 2015-2018 period. Most of the country depends on oil and gas for its primary energy source. Investment in the sector may lead to growth in the industry.
- Italy has a proven gas reserve of around 1.6 trillion cubic feet of natural gas and 0.4 thousand million metric ton of crude oil, as of 2018. Exploration and production of fossil fuel may lead to a boom for the downstream industry as the transportation cost of oil imports would reduce.
- Oil production is expected to drive the market during the forecast period. The country depends primarily on imports for the supply of fossil fuels to meet the required energy consumption in the country.
