Market Size of Southeast Asia 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 | > 4.00 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Southeast Asia Oil & Gas Downstream Market Analysis
The Southeast Asia oil and gas downstream market is expected to register a CAGR of greater than 4% during the forecast period.
The market was negatively impacted by COVID-19. Presently the market has now reached pre-pandemic levels.
- Over the medium period, the increasing demand for oil and natural gas and rising foreign direct investments are expected to boost the Southeast Asian oil and gas downstream market during the forecast period.
- On the other hand, with the advent of reliable and cheaper renewable energy, more investment may not be focused on refineries, thereby hindering the market.
- Nevertheless, Southeast Asian countries are eager to discover and produce oil and natural gas reserves, leading to increased exploration and discoveries, which could provide an opportunity for many refineries as the cost of importing reduces.
- The Vietnamese downstream industry is expected to grow substantially during the forecast period. Increasing consumption in the country is a significant factor in this growth. Construction and expansion of refineries are also occurring, which is expected to boost the market's growth.
