Market Size of United Arab Emirates 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 | > 1.00 % |
| Market Concentration | High |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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UAE Oil and Gas Downstream Market Analysis
The UAE oil and gas downstream market is projected to register a CAGR of over 1% during the forecast period.
The market was negatively impacted by COVID-19. Presently, the market has reached pre-pandemic levels.
- Over the medium term, various government plans to invest in the downstream market and expand the refining capacity of existing refineries are expected to drive the market.
- On the other hand, the high volatility of crude oil prices is expected to restrain the market's growth significantly.
- Digitalization and modernization of the refining and petrochemical sector are expected to reduce refining costs and process losses, which may create an opportunity for the market during the forecast period.
