India Oil and Gas Market Share, Trends, Analysis, Size, Growth, Forecast 2025-2033

Oil and Gas Market - India

Market Statistics

Base Year: 2024

Historical Years: 2019-2024

Forecast Years: 2025-2033

Market Size in 2024: USD 710.5 Million

Market Size in 2033: USD 1,164.4 Million

Market Growth Rate (CAGR) 2025-2033: 5.23%

According to IMARC Group's report titled "India Oil and Gas Market Report and Forecast 2025-2033," the market reached USD 710.5 million in 2024. Looking forward, IMARC Group expects the market to reach USD 1,164.4 million by 2033, exhibiting a growth rate (CAGR) of 5.23% during 2025-2033.

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India Oil and Gas Market Trends and Drivers:

India oil and gas market is undergoing dynamic transformation, stimulated by India's growing energy need, economic growth, and increasing energy security concern.
Fundamentally, India's urbanization, industrialization, and increasing transportation infrastructure are predominantly powering the requirement for crude oil, natural gas, and petro-products.
Additionally, the government drive towards self-reliance in the form of like "Atmanirbhar Bharat" and increasing domestic exploratory and production activities is propelling the upstream segment.
Besides this, foreign producers' strategic partnerships, new policy norms for the issuance of licenses, and access to the exploration market by foreign and private players are picking up pace in the sector of investment inflow into the nation.
Besides this, increased demand for cleaner fuels is driving growth in natural gas infrastructure in the form of city gas distribution networks, LNG terminals, and pipeline reach to non-served areas.
Also, initiatives such as the National Bio-Energy Mission and the hydrogen drive as a green fuel alternative are injecting a sense of diversification in India's oil and gas policy.
Apart from that, refiners are increasing their capacities and implementing new technologies to serve higher domestic and export demand, especially from South Asia and Africa.
Apart from that, government-led pricing reforms, fuel price liberalization, and increased fuel marketing transparency are helping to make an environment more competitive and investment-friendly.
At the same time, growth in automobile and aviation sectors is driving the requirement for ATF, diesel, and petrol, and growth in petrochemical centers is contributing to the downstream market.
Meanwhile, the utilization of digital technologies like AI, IoT, and data analytics is improving operational efficiency, predictive maintenance, and supply chain optimization in oil and gas units.
In addition to that, targeted growth of petroleum reserves and added storage capacity are augmenting the capability to counter global supply chain disruptions.
Growing consumer awareness and regulatory imperative to go green are also promoting the use of cleaner and more efficient fuels.
Beyond that, private sector investment is mounting with the entry of international energy majors, who are driving modernization and diversification in the value chain.
Overall, the complementarity of policy reforms, the expansion of infrastructure, demand stimulus on the demand side, and technological progress is leading India oil and gas market to an integrated and forward-looking energy system.

India Oil and Gas Industry Segmentation:

The India oil and gas market forecast offers insights into future opportunities and challenges, drawing on historical data and predictive modeling.

Type Insights:

Upstream
Midstream
Downstream

Application Insights:

Offshore
Onshore

Regional Insights:

North India
West and Central India
South India
East and Northeast India

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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 (2019-2024)
Market Outlook (2025-2033)
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 provide a comprehensive suite of market entry and expansion services. IMARC offerings include thorough market assessment, feasibility studies, company incorporation assistance, factory setup support, regulatory approvals and licensing navigation, branding, marketing and sales strategies, competitive landscape and benchmarking analyses, pricing and cost research, and procurement research.

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