Oil And Gas Downstream Market Size & Share Analysis - Growth Trends & Forecasts (2025 - 2030)

The Oil and Gas Downstream Market Report is Segmented by Type (Refineries and Petrochemical Plants) and Geography (North America, Europe, Asia-Pacific, South America, and Middle East and Africa). The Report Offers Market Sizes and Forecasts for Oil and Gas Downstream in Revenue (USD) for all the Above Segments.

Oil And Gas Downstream Market Size & Share Analysis - Growth Trends & Forecasts (2025 - 2030)

Oil & Gas Downstream Market Size

Oil & Gas Downstream Market Summary
Study Period 2019 - 2030
Market Size (2025) USD 1.18 Trillion
Market Size (2030) USD 1.36 Trillion
CAGR (2025 - 2030) 2.88 %
Fastest Growing Market Asia Pacific
Largest Market Asia Pacific
Market Concentration Low

Major Players

Oil & Gas Downstream Market Major Players

*Disclaimer: Major Players sorted in no particular order

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Oil & Gas Downstream Market Analysis

The Oil & Gas Downstream Market size is estimated at USD 1.18 trillion in 2025, and is expected to reach USD 1.36 trillion by 2030, at a CAGR of 2.88% during the forecast period (2025-2030).

  • In the medium term, factors such as increasing refining capacity across Asia-Pacific and the Middle East and rising industrialization in developing countries are expected to drive the oil and gas downstream market during the forecast period.
  • The growing share of fuel-efficient vehicles and increasing penetration of electric vehicles in developed and emerging economies are expected to hinder the market's growth during the forecast period.
  • Nevertheless, digitalization and modernization of the refining and petrochemical sectors are expected to reduce refining costs and process losses. This, in turn, is expected to create an opportunity for the market during the forecast period.
  • Asia-Pacific has dominated the oil and gas downstream market, with the majority of the demand coming from China, Southeast Asia, and India.

Oil & Gas Downstream Industry Overview

The oil and gas downstream market is moderately fragmented. Some of the key players in the market are Reliance Industry Limited, BP PLC, Saudi Aramco, China National Petroleum Corporation, and Chevron Corporation.

Oil & Gas Downstream Market Leaders

  1. Reliance Industry Limited

  2. BP PLC

  3. Saudi Aramco

  4. China National Petroleum Corporation

  5. Chevron Corporation

  6. *Disclaimer: Major Players sorted in no particular order
Oil & Gas Downstream Market Concentration
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Oil & Gas Downstream Market News

  • November 2023: ONGC, India's leading oil and gas producer, announced its intention to invest approximately INR 100,000 crore in establishing two petrochemical facilities aimed at directly converting crude oil into valuable chemical products, aligning with its preparations for the energy transition.
  • June 2023: SCG Chemicals announced that it would start production at the petrochemical plant Long Son Petrochemicals in Vietnam by September 2023. The plant has been built with an investment of approximately USD 5.4 billion and is expected to produce products including polyethylene, polypropylene, and other basic chemicals.

Oil & Gas Downstream Market Report - Table of Contents

1. INTRODUCTION

  • 1.1 Scope of the Study
  • 1.2 Market Definition
  • 1.3 Study Assumptions

2. EXECUTIVE SUMMARY

3. RESEARCH METHODOLOGY

4. MARKET OVERVIEW

  • 4.1 Introduction
  • 4.2 Market Size and Demand Forecast in USD, till 2029
  • 4.3 Oil and Gas Production Scenario (2013 - 2029)
  • 4.4 Oil and Gas Consumption Scenario (2013 - 2029)
  • 4.5 Refinery Throughput Capacity (2013 - 2029)
  • 4.6 Key Projects Information
    • 4.6.1 Existing Projects
    • 4.6.2 Projects in Pipeline
    • 4.6.3 Upcoming Projects
  • 4.7 Crude Oil Price Trend Analysis (2013 - 2023)
  • 4.8 Recent Trends and Developments
  • 4.9 Government Policies and Regulations
  • 4.10 Market Dynamics
    • 4.10.1 Drivers
    • 4.10.1.1 Increasing Refining Capacity across Asia-Pacific and the Middle East
    • 4.10.1.2 Rising Industrialization in Developing Countries
    • 4.10.2 Restraints
    • 4.10.2.1 Increasing Penetration of Electric Vehicles
  • 4.11 Supply Chain Analysis
  • 4.12 Porter's Five Forces Analysis
    • 4.12.1 Bargaining Power of Suppliers
    • 4.12.2 Bargaining Power of Consumers
    • 4.12.3 Threat of New Entrants
    • 4.12.4 Threat of Substitutes Products and Services
    • 4.12.5 Intensity of Competitive Rivalry

5. MARKET SEGMENTATION

  • 5.1 Type
    • 5.1.1 Refineries
    • 5.1.2 Petrochemical Plants
  • 5.2 Geography (Regional Market Analysis {Market Size and Demand Forecast till 2029 (for regions only)})
    • 5.2.1 North America
    • 5.2.1.1 United States
    • 5.2.1.2 Canada
    • 5.2.1.3 Rest of North America
    • 5.2.2 Europe
    • 5.2.2.1 France
    • 5.2.2.2 Italy
    • 5.2.2.3 Germany
    • 5.2.2.4 United Kingdom
    • 5.2.2.5 Spain
    • 5.2.2.6 Nordic Countries
    • 5.2.2.7 Turkey
    • 5.2.2.8 Russia
    • 5.2.2.9 Rest of Europe
    • 5.2.3 Asia-Pacific
    • 5.2.3.1 China
    • 5.2.3.2 India
    • 5.2.3.3 Indonesia
    • 5.2.3.4 Japan
    • 5.2.3.5 South Korea
    • 5.2.3.6 Malaysia
    • 5.2.3.7 Thailand
    • 5.2.3.8 Vietnam
    • 5.2.3.9 Rest of Asia-Pacific
    • 5.2.4 South America
    • 5.2.4.1 Brazil
    • 5.2.4.2 Argentina
    • 5.2.4.3 Colombia
    • 5.2.4.4 Rest of South America
    • 5.2.5 Middle East and Africa
    • 5.2.5.1 Saudi Arabia
    • 5.2.5.2 United Arab Emirates
    • 5.2.5.3 South Africa
    • 5.2.5.4 Nigeria
    • 5.2.5.5 Qatar
    • 5.2.5.6 Egypt
    • 5.2.5.7 Rest of Middle East and Africa

6. COMPETITIVE LANDSCAPE

  • 6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
  • 6.2 Strategies Adopted by Leading Players
  • 6.3 Company Profiles
    • 6.3.1 Reliance Industries Ltd
    • 6.3.2 Royal Dutch Shell PLC
    • 6.3.3 The Dow Chemical Company
    • 6.3.4 BP PLC
    • 6.3.5 Saudi Aramco
    • 6.3.6 Indian Oil Corporation Limited
    • 6.3.7 China National Petroleum Corporation
    • 6.3.8 Total SA
    • 6.3.9 Chevron Corporation
  • *List Not Exhaustive
  • 6.4 List of Other Prominent Companies
  • 6.5 Market Ranking/Share (%) Analysis

7. MARKET OPPORTUNITIES AND FUTURE TRENDS

  • 7.1 Digitalization and Modernization of the Refining and Petrochemical Sector
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Oil & Gas Downstream Industry Overview

The oil and gas downstream sector encompasses refining crude oil into various petroleum products and processing natural gas into usable products. It includes refining crude oil into gasoline, diesel, jet fuel, and other products and producing petrochemicals such as plastics, fertilizers, and synthetic materials.

The market is segmented by type and geography. By type, the market is segmented into refinery and petrochemical plants. By geography, the market is segmented into North America, Europe, Asia-Pacific, South America, and Middle East and Africa.

For each segment, the market sizes and forecasts were made based on revenue (USD).

Type Refineries
Petrochemical Plants
Geography (Regional Market Analysis {Market Size and Demand Forecast till 2029 (for regions only)}) North America United States
Canada
Rest of North America
Europe France
Italy
Germany
United Kingdom
Spain
Nordic Countries
Turkey
Russia
Rest of Europe
Asia-Pacific China
India
Indonesia
Japan
South Korea
Malaysia
Thailand
Vietnam
Rest of Asia-Pacific
South America Brazil
Argentina
Colombia
Rest of South America
Middle East and Africa Saudi Arabia
United Arab Emirates
South Africa
Nigeria
Qatar
Egypt
Rest of Middle East and Africa
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Oil & Gas Downstream Market Research FAQs

How big is the Oil & Gas Downstream Market?

The Oil & Gas Downstream Market size is expected to reach USD 1.18 trillion in 2025 and grow at a CAGR of 2.88% to reach USD 1.36 trillion by 2030.

What is the current Oil & Gas Downstream Market size?

In 2025, the Oil & Gas Downstream Market size is expected to reach USD 1.18 trillion.

Who are the key players in Oil & Gas Downstream Market?

Reliance Industry Limited, BP PLC, Saudi Aramco, China National Petroleum Corporation and Chevron Corporation are the major companies operating in the Oil & Gas Downstream Market.

Which is the fastest growing region in Oil & Gas Downstream Market?

Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2025-2030).

Which region has the biggest share in Oil & Gas Downstream Market?

In 2025, the Asia Pacific accounts for the largest market share in Oil & Gas Downstream Market.

What years does this Oil & Gas Downstream Market cover, and what was the market size in 2024?

In 2024, the Oil & Gas Downstream Market size was estimated at USD 1.15 trillion. The report covers the Oil & Gas Downstream Market historical market size for years: 2019, 2020, 2021, 2022, 2023 and 2024. The report also forecasts the Oil & Gas Downstream Market size for years: 2025, 2026, 2027, 2028, 2029 and 2030.

Oil & Gas Downstream Industry Report

The oil and gas downstream market is poised for substantial growth, driven by several key factors across various global regions. Segmented into refineries and petrochemical plants, refineries dominate due to their crucial role in transforming crude oil into valuable products like diesel, gasoline, and petrochemical feedstocks. Additionally, technological advancements such as digitalization and automation are enhancing operational efficiencies and reducing costs in downstream processes, contributing to the growth of the oil and gas downstream market size. However, the market faces challenges such as fluctuations in crude oil prices and the need for substantial investment to integrate cutting-edge technologies and comply with stringent environmental regulations. Despite these challenges, the market is expected to continue its growth trajectory, supported by increasing global energy demands and strategic investments in refining capacities and cleaner technologies. Top downstream oil and gas companies are pivotal in driving these advancements and market expansion. For detailed statistics on the downstream oil and gas market share, size, and revenue growth rate, access Mordor Intelligence™ Industry Reports, which include a market forecast outlook and historical overview. Get a sample of this industry analysis as a free report PDF download.