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Australia Oil and Gas Market Growth, Share, and Trends Forecast 2024-2032

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:

Australia oil and gas resources are changing fast. This is due to global energy trends and new domestic policies. Many oil and gas countries are shifting to renewables. This is where Australia positions its oil and gas sector. Australia is still one of the top countries for LNG exports in the oil and gas sector. Investments in new fossil fuel projects are fading. Most of the focus is now on carbon emissions. Companies are shifting to cleaner energy options. They are using hydrogen and carbon capture and storage (CCS) to reach net-zero goals. Geopolitical factors matter. They include changes in supply, shifts in global demand, and pricing. Gas prices rose due to a tighter domestic supply. This sparked discussions about energy security and affordability. Governments struggle to boost the economy while also demanding environmental commitments. This makes regulation more complex. Australia has big natural gas reserves and a strong infrastructure. This makes it an important player in the global energy market. But the focus is shifting more towards sustainability.

New tech and smart partnerships are shaping the future of Australia oil and gas industry. Digitalization, automation, and artificial intelligence (AI) boost efficiency. They also reduce costs and environmental impacts. Advanced drilling and predictive maintenance will increase production in mature basins. This includes areas like the Bass Strait and the North West Shelf. International collaborations also boost launches in green hydrogen and ammonia. These are now seen as potential export commodities. The sector is seeing a rise in ESG investment. People want more accountability and transparency in environmental, social, and governance issues. These steps toward inclusive progress also show in project approvals. Here, Indigenous engagement and community partnerships are key. Switching to renewable energy is risky for traditional oil and gas. But it also offers chances for diversification and future strength. Australia must adapt to new trends to remain competitive in the global energy market. Sustainability and innovation are now top priorities for businesses.

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

by marketreport on 2025-04-14 02:38:02