Beyond Dawlish

Australia Oil and Gas Market Overview

Base Year: 2023

Historical Years: 2018-2023

Forecast Years: 2024-2032

Market Growth Rate: 6.70% (2024-2032)

Australia energy industry is growing. This is due to rising demand, new technologies, and strong export opportunities. Investment and innovation are continuing to develop a sustainable and competitive industry. According to the latest report by IMARC Group, the Australia oil and gas market size is projected to exhibit a growth rate (CAGR) of 6.70% during 2024-2032.

Australia Oil and Gas Industry Trends and Drivers:

The Australia oil and gas market is changing a lot. This shift is due to global energy trends and changes in local policies. Australia’s oil and gas sector is at a crossroads. The shift to renewable energy brings challenges but also new chances. LNG exports are key to the industry. Australia is one of the top exporters globally. It mainly exports to Asia, especially Japan and China. Less investment in new exploration projects and aging infrastructure risks long-term supply stability. The push for decarbonization is speeding up. Companies are investing in carbon capture and storage (CCS) technologies. They are also looking into hydrogen as a more energy source. This goal is changing how industries operate, pushing them to adopt cleaner practices. Geopolitical tensions and changing global oil prices still affect market volatility. So, stakeholders need to use flexible strategies. The sector's future depends on balancing economic gains with environmental duties. Pressure is growing to meet net-zero targets.

Australia oil and gas market is seeing a rise in renewable energy. This shift is changing traditional demand patterns. This change is shifting gas consumption trends. Some areas see less demand, while others use gas as a transition fuel. Offshore exploration in the Northern Territory and Western Australia still draws interest. However, regulatory hurdles and environmental concerns slow down progress. ESG (Environmental, Social, and Governance) investing is on the rise. This trend is pushing companies to focus on sustainability. Many are now setting bold goals to reduce emissions. Community opposition to new projects, like the Scarborough gas development, shows rising tension. Energy security clashes with environmental activism more than ever. Australia has many natural resources and strong infrastructure. This helps it stay important in the global energy market, even with challenges. The industry's success in the changing energy landscape depends on its ability to innovate and adapt.

Download a sample copy of the Report: https://www.imarcgroup.com/australia-oil-gas-market/requestsample

Australia Oil and Gas Industry Segmentation:

The report has segmented the market into the following categories:

Type Insights:

• Upstream
• Midstream
• Downstream

Application Insights:

• Offshore
• Onshore

Regional Insights:

• Australia Capital Territory & New South Wales
• Victoria & Tasmania
• Queensland
• Northern Territory & Southern Australia
• Western Australia

Competitive Landscape:

The competitive landscape of the industry has also been examined, along with the profiles of the key players.

Key highlights of the Report:

• Market Performance (2018-2023)
• Market Outlook (2024-2032)
• COVID-19 Impact on the Market
• Porter’s Five Forces Analysis
• Strategic Recommendations
• Historical, Current, and Future Market Trends
• Market Drivers and Success Factors
• SWOT Analysis
• Structure of the Market
• Value Chain Analysis
• Comprehensive Mapping of the Competitive Landscape

Note: If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.

About Us:

IMARC Group is a global management consulting firm that helps the world’s most ambitious changemakers to create a lasting impact. The company provides a comprehensive suite of market entry and expansion services. IMARC offerings include a thorough market assessment, feasibility studies, company incorporation assistance, factory setup support, regulatory approvals and licensing navigation, branding, marketing and sales strategies, competitive landscape, benchmarking analyses, pricing and cost research, and procurement research.

Contact Us:  

IMARC Group 

Street: Morgan Park QLD 4370

City/Town: Warwick

State/Province/Region: Queensland

Country: Australia

Zip/Postal Code: 4370

Email: sales@imarcgroup.com

Phone Number: 1-631-791-1145