LONDON, March 14, 2024 (GLOBE NEWSWIRE) -- Stay ahead of competitors by leveraging The Business Research company's oil and gas industry reports, which offer invaluable insights for businesses navigating this dynamic sector. These comprehensive analyses cover market trends, growth drivers, challenges, and opportunities, empowering companies to make informed decisions and develop strategic plans.
Access the top seven latest market reports in the oil and gas industry from The Business Research Company:
1. Oil And Gas Global Market Report 2024
https://www.thebusinessresearchcompany.com/report/oil-and-gas-global-market-report
The oil and gas market has shown significant growth recently, increasing from $7,188.25 billion in 2023 to $7,625.82 billion in 2024, with a compound annual growth rate (CAGR) of 6.1%. This growth is attributed to various factors including a surge in crude oil and natural gas production, expansion of the petrochemical industry, growth in emerging markets, and increased investments in exploration in developing countries.
Looking ahead, the market is expected to continue its strong growth, reaching $9,347.9 billion by 2028, with a CAGR of 5.2%. Government investments are anticipated to play a crucial role in driving this growth, particularly in funding research and development for new exploration and production technologies.
Major companies in the oil and gas sector are increasingly adopting big data analytics and artificial intelligence (AI) to enhance decision-making processes and improve profitability. These technologies are expected to play a significant role in shaping the industry's future.
2. Petroleum Coke Global Market Report 2024
https://www.thebusinessresearchcompany.com/report/petroleum-coke-global-market-report
Petroleum coke, a by-product of tar sands bitumen processing into crude oil, undergoes thermal processing to become calcined pet coke, vital in electrode production for steel and aluminum extraction. Main types include fuel grade and calcined coke, used in diverse applications like power plants, cement kilns, steel, and aluminum manufacturing.
Segmented by type, physical form, and application, the market has grown swiftly, from $27.64 billion in 2023 to $31.53 billion in 2024, with a CAGR of 14.1%. This growth is attributed to emerging market economic expansion, increased cement and steel production, despite challenges like the COVID-19 pandemic, stringent environmental regulations, and crude oil price volatility.
Anticipating rapid expansion, the market is projected to reach $53.8 billion by 2028, with a CAGR of 14.3%, driven by continued industrial growth and increasing applications across various sectors.
3. Crude Oil Global Market Report 2024
https://www.thebusinessresearchcompany.com/report/crude-oil-global-market-report
The crude oil market has exhibited strong growth, increasing from $2,829.69 billion in 2023 to $2,998.39 billion in 2024, with a compound annual growth rate (CAGR) of 6.0%. This growth is attributed to factors such as industrialization, economic growth, demand from the transportation and petrochemical sectors, and increased electricity generation to meet global energy demands.
Looking ahead, the market is expected to continue its robust growth, reaching $3,655.81 billion by 2028, with a CAGR of 5.1%. The escalation of geopolitical tensions is anticipated to further drive growth, as such tensions often impact crude oil prices by raising concerns about supply disruptions from key oil-producing regions.
In 2023, Asia-Pacific emerged as the largest region in the crude oil market. The market report covers regions including Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
4. Refined Petroleum Products Global Market Report 2024
https://www.thebusinessresearchcompany.com/report/refined-petroleum-products-global-market-report
The refined petroleum products market has shown steady growth, increasing from $2629.64 billion in 2023 to $2756.01 billion in 2024, with a compound annual growth rate (CAGR) of 4.8%. This growth is attributed to factors such as strong economic growth in emerging markets, rising vehicle ownership, increased demand from end-users, and population growth.
Looking ahead, the market is expected to continue its steady growth, reaching $3246.8 billion by 2028, with a CAGR of 4.2%. Major companies in the market, including Saudi Aramco, Exxon Mobil, Chevron, and others, are focusing on developing innovative products like low-smoke fuel to maintain their competitive edge. Low-smoke fuel reduces emissions and produces less smoke due to its lower volatile content, enhancing environmental sustainability.
In summary, the refined petroleum products market is poised for continued growth, driven by both economic and technological factors, with major players investing in innovation to meet evolving consumer and regulatory demands.
5. Offshore Support Vessel Global Market Report 2024
https://www.thebusinessresearchcompany.com/report/offshore-support-vessel-global-market-report
The offshore support vessel market is segmented by type, service, water depth, and application, including anchor-handling tug supply vessels, platform support vessels, and others. Services encompass technical, inspection, and surveying, among others. Water depth classifications include shallow, deepwater, and ultra-deepwater, while applications range from oil and gas to offshore operations.
The market has seen robust growth, rising from $25.8 billion in 2023 to $27.91 billion in 2024, with a compound annual growth rate (CAGR) of 8.2%. This growth is attributed to various factors such as oil and gas exploration, crew transfer, drilling support, and supply transportation services.
Anticipating continued expansion, the market is projected to reach $37.01 billion by 2028, with a CAGR of 7.3%. Asia-Pacific dominated the market in 2023, with North America expected to witness the fastest growth. The report covers regions including Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
6. Oil And Gas Upstream Activities Global Market Report 2024
The oil and gas supporting activities sector provides crucial contract-based support for operations such as exploration, drilling, and extraction within the industry. These activities include well maintenance, exploration, and well development, involving both onshore and offshore drilling to locate recoverable reserves of oil and gas.
The market has experienced significant growth, rising from $288.79 billion in 2023 to $310.09 billion in 2024, with a compound annual growth rate (CAGR) of 7.4%. This growth is attributed to factors such as oil prices, technological advancements, global energy demand, and geopolitical factors.
Anticipating continued expansion, the market is forecasted to reach $397.02 billion by 2028, with a CAGR of 6.4%. The rapid growth in emerging markets has been a key driver, fueled by factors such as increasing disposable income, political stability, and rising foreign investments.
In summary, the oil and gas supporting activities market is poised for strong growth, driven by both global demand dynamics and emerging market opportunities, with technology and geopolitical factors playing significant roles.
7. Hydraulic Workover Unit Global Market Report 2023
https://www.thebusinessresearchcompany.com/report/hydraulic-workover-unit-global-market-report
Hydraulic workover, an intervention technique for dead wells, utilizes hydraulic cylinders for precise tube installation and removal, reducing reliance on large mast structures.
The market size reached $10.5 billion in 2023, projected to grow to $11.5 billion in 2024 with a CAGR of 9.5%. Growth is driven by increased oil and gas exploration, cost-effective interventions, rigless operations, routine maintenance, and completion tasks. Expectations suggest further growth, reaching $16.47 billion by 2028 with a CAGR of 9.4%.
North America led the market in 2023, with regions including Asia-Pacific, Western and Eastern Europe, North and South America, the Middle East, and Africa covered in the market report.
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