Market Size of Oman Oil and Gas Pipeline Industry
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2020 - 2022 |
| CAGR | > 6.50 % |
| Market Concentration | Medium |
Major Players.webp){kind=logo}
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Oman Oil & Gas Pipeline Market Analysis
The Oman oil and gas pipeline market is expected to register a CAGR of more than 6.5% during the forecast period. Covid-19 has adversely impacted oil & gas investment all across the globe. The overall demand for oil & gas has decreased, which also affected Oman's oil & gas industry. Furthermore, the fluctuation in prices of oil & gas has negatively impacted the oil & gas industry investment in the last two years in Oman. Due to rapid industrialization and urbanization, the demand for oil & gas products from developing countries such as China, India, Singapore, and the Philippines is rising. Moreover, Oman and India are working on developing a deepwater pipeline project to cater to India's growing power demand. However, a significant increase in renewable energy resources investment is expected to hinder the growth of the oil and gas pipeline market in the forecast period.
- The gas pipeline line segment is expected to dominate the market during the forecast period. In the last few years, there has been a rise in awareness about carbon and greenhouse emissions, resulting in higher demand for natural gas, LPG, LNG, and other gasses in Oman and other countries. Thus, companies are investing more in the exploration and production of natural gas, which is expected to boost the oil and gas pipeline market in Oman in the forecast period.
- The Oman government is planning to increase oil & gas production in the country. For instance, Oman has identified a new oil field estimated to have 5 billion barrels of oil reserves. Therefore, the increasing number of oil & gas projects is expected to boost the Omani oil and gas pipeline market during the forecast period.
- Off late, the FDI in the oil and gas industry in Oman has witnessed a significant rise. For instance, China is expected to invest more than USD 10 billion in the oil & gas industry in Oman in the coming few years. Thus a significant rise in investment in the oil and gas industry provides a great opportunity in the oil and gas pipeline market.
