Market Size of Uzbekistan Oil and Gas Industry
| Study Period | 2021 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2021 - 2022 |
| CAGR | > 4.00 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Uzbekistan Oil & Gas Market Analysis
The Uzbekistan Oil and Gas Market is expected to grow at a CAGR of about 4% during the forecast period.
The market was negatively impacted by COVID-19 in 2020. Presently the market has now reached pre-pandemic levels.
- Over the medium term, increasing investments in the oil and gas industry are expected to drive the market's growth.
- On the other hand, the country's ageing oil infrastructure and depleting reserves are expected to hamper the growth of the Uzbekistan Oil and Gas Market during the forecast period.
- Nevertheless, Uzbekistan's per capita energy demand is likely to be around 1.7 Tonnes of Oil Equivalent (TOE) by 2030. Thus, the increasing demand for energy, including natural gas, is expected to create an opportunity for the market to grow in the near future.
