Market Size of Kuwait 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 | > 2.13 % |
| Market Concentration | High |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Kuwait Oil & Gas Downstream Market Analysis
The Kuwait oil and gas downstream market is expected to grow at a CAGR of over 2.13% during the forecast period of 2020 - 2025. Factors such as increasing demand for natural gas and rising production of oil and gas in the country are expected to boost the demand for the Kuwait oil and gas downstream market during the forecast period. However, slower investments has been made in the refineries and liquified natural gas (LNG) terminals sector, is expected to hinder the growth of the market.
- The refineries in Kuwait have been stagnant in the 2017 - 2018 period. Most of the refining capacity in the country is owned, by the government-owned, Kuwait National Petroleum Company (KNPC).
- Kuwait's government-owned company is expected to invest in the exploration and production of Kuwait's oil and gas fields. It is likely that the investment would increase production and create an opportunity for cheaper oil and gas for the refineries.
- New investments are expected to be added in the refinery and petrochemical industry. The oil and gas downstream market is expected to witness growth in the forecast period
