Product ID: UCMIG55B2005
Report ID:
UCMIG55B2005 |
Region:
Global |
Published Date: Upcoming |
Pages:
165
| Tables: 55 | Figures: 60
The Oil & Gas Electrification Market, with an initial worth of USD 1.4 billion in 2021, is expected to witness significant growth at a compounded annual growth rate (CAGR) of over 31% from 2022 to 2030. This expansion can be attributed to the increasing adoption of electrification technologies within the oil and gas industry, driven by the need for cleaner and more sustainable energy solutions. With a promising growth trajectory, this market holds immense potential for stakeholders and is likely to play a crucial role in the transition towards a greener and more efficient energy landscape.
This report is being written to illustrate the market opportunity by region and by segments, indicating opportunity areas for the vendors to tap upon. To estimate the opportunity, it was very important to understand the current market scenario and the way it will grow in future.
Production and consumption patterns are being carefully compared to forecast the market. Other factors considered to forecast the market are the growth of the adjacent market, revenue growth of the key market vendors, scenario-based analysis, and market segment growth.
The market size was determined by estimating the market through a top-down and bottom-up approach, which was further validated with industry interviews. Considering the nature of the market we derived the Gas Utilities by segment aggregation, the contribution of the Gas Utilities in Diversified Utilities Services and vendor share.
To determine the growth of the market factors such as drivers, trends, restraints, and opportunities were identified, and the impact of these factors was analyzed to determine the market growth. To understand the market growth in detail, we have analyzed the year-on-year growth of the market. Also, historic growth rates were compared to determine growth patterns.
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Product ID: UCMIG55B2005