Market Size of Norway Oil and Gas Downstream Industry
| Study Period | 2021 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2021 - 2022 |
| CAGR | > 2.00 % |
| Market Concentration | High |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Norway Oil & Gas Downstream Market Analysis
Norway's oil and downstream gas market is expected to grow at 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 medium term, increasing consumption of petroleum products is expected to boost the demand for the Norway oil and gas downstream market during the forecast period.
- On the other hand, the rising number of EVs and the government has also pushed towards decreasing dependence on oil and gas, further leading to market stagnation.
- Nevertheless, the increasing need to decrease the sulfur content in the oil to comply with the EU guidelines has led to the requirement for better desulfurization plants all over Europe. A further requirement in reducing sulfur content is expected to act as an opportunity for the market players in the country.
