The Business Research Company’s latest report Oil And Gas Global Market Report 2020 covers Oil And Gas market drivers, Oil And Gas market trends, Oil And Gas market segments, Oil And Gas market growth rate, Oil And Gas market major players, and Oil And Gas market size. The report provides in-depth analysis of the impact of COVID-19 on the Oil And Gas industry, along with revised market numbers due to the effects of the coronavirus.
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Oil And Gas Global Market Report 2020 is the most comprehensive report available on this market and will help gain a truly global perspective as it covers 60 geographies. The chapter on the impact of COVID-19 gives valuable insights on supply chain disruptions, logistical challenges, and other economic implications of the virus on the market. The chapter also covers markets which have been positively affected by the pandemic.
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The global oil and gas market is expected to decline from $6706.8 billion in 2019 to $3818.5 billion in 2020 at a compound annual growth rate (CAGR) of -43.1%. The decline is mainly due to economic slowdown across countries owing to the COVID-19 outbreak and the measures to contain it. The market is then expected to recover and grow at a CAGR of 6% from 2021 and reach $4481.3 billion in 2023.
The global oil and gas market is segmented by type into oil & gas upstream activities, oil downstream activities. Subsegments covered are crude oil, natural gas, oil and gas wells drilling services, oil and gas supporting activities, refined petroleum products manufacturing, asphalt, lubricating oil and grease manufacturing.
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