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Global Oil and Gas Industry Outlook, 2023
Energy Transition, Decarbonization, Digitalization, and New Business Models Drive Industry Transformation
31-Jul-2023
Global
Market Outlook
The global energy industry is undergoing an unprecedented transition, bringing exciting new growth opportunities to the oil and gas (O&G) industry. However, shifting to a net-zero future for carbon emissions means many companies face pricing, energy security, and industry disruption struggles.
As the industry moves to meet decarbonization and sustainability goals, Frost & Sullivan has identified five key pillars of opportunity for the energy transition: Carbon Capture, Utilization, and Storage (CCUS); Emissions Management; Automation, Autonomy, and Augmentation; Upstream Electrification; and Future Fuels. Meanwhile, the main challenge of today’s O&G industry is balancing the transition to net zero while meeting the current demand for fossil fuels as efficiently and sustainably as possible.
The competitive landscape for the future O&G industry is also changing, driven by innovation, market transformation, ambitious sustainability goals, and disruptive business models.
The Frost & Sullivan oil and gas team specifically works to identify substantial transformative trends, innovations, and growth opportunities. This study provides a detailed evaluation of the main transformational trends and growth opportunities we expect to see shaping the O&G industry throughout 2023. The study period is 2022–2035, with 2022 as the base year and 2023–2035 as the forecast period. Regions covered include:
• North America: United States, Canada, and Mexico
• Latin America: Brazil, Venezuela, Argentina, and Colombia
• Europe: United Kingdom, France, Germany, Norway, Netherlands, and Belgium
• Russia and Commonwealth of Independent States (CIS): Russia and Kazakhstan
• Asia-Pacific: India, China, Malaysia, Singapore, Australia, and Japan
• Middle East and Africa (MEA): Saudi Arabia, United Arab Emirates (UAE), Oman, Qatar, Kuwait, Nigeria, Algeria, Egypt, Mozambique, Libya, and
Angola
We cover three markets:
• Upstream: Oil and gas, automation, digitalization, electrification
• Midstream: Liquid natural gas (LNG)
• Decarbonization: Emissions management, hydrogen, CCUS
Notably, the study offers stakeholders insights and opportunities they can leverage in the dynamic O&G space over the next decade.
Author: Mahesh Radhakrishnan
Why Is It Increasingly Difficult to Grow?
The Strategic Imperative 8™
The Impact of the Top 3 Strategic Imperatives on the Oil and Gas Industry
Growth Opportunities Fuel the Growth Pipeline Engine™
2022 Highlights of the Global Oil and Gas Industry
Top 7 Oil and Gas Predictions for 2023
2022 Key Performance Indicators
2023 Oil and Gas KPIs: Forecast
Trends and Events in Historical Prices for WTI and Brent
Global Average Rig Count vs Benchmark Crude Oil Prices
Global Oil and Gas Industry Upstream CAPEX
Project Scope
Market Trends
Trend 1: CCUS an Important Equation in Decarbonization
Trend 1: CCUS an Important Equation in Decarbonization (continued)
Growth Environment: CCUS Landscape in the Americas
Growth Environment: CCUS Landscape in Europe
Growth Environment: CCUS Landscape in APAC
Growth Environment: CCUS Landscape in MEA
CCUS Growth Opportunity Areas
Trend 2: Role of LNG in the Energy Spectrum
Trend 2: Role of LNG in the Energy Spectrum (continued)
Progress on Developing Lower-emission LNG Technologies
Trend 3: Industrial Electrification as a Decarbonization Pathway
Trend 3: Industrial Electrification as a Decarbonization Pathway (continued)
Trend 3: Industrial Electrification as a Decarbonization Pathway (continued)
Trend 3: Industrial Electrification as a Decarbonization Pathway (continued)
Trend 3: Industrial Electrification as a Decarbonization Pathway (continued)
Trend 3: Industrial Electrification as a Decarbonization Pathway (continued)
Trend 4: Rise of the Hydrogen Economy
Trend 4: Rise of the Hydrogen Economy (continued)
Trend 4: Rise of the Hydrogen Economy (continued)
Trend 4: Rise of the Hydrogen Economy (continued)
Trend 4: Rise of the Hydrogen Economy (continued)
Trend 5: Oil and Gas Automation
Trend 5: Oil and Gas Automation (continued)
Trend 5: Oil and Gas Automation (continued)
Trend 5: Oil and Gas Automation (continued)
Trend 5: Oil and Gas Automation (continued)
Trend 5: Oil and Gas Automation (continued)
Trend 5: Oil and Gas Automation (continued)
Trend 6: Emissions Management
Trend 6: Emissions Management (continued)
Trend 6: Emissions Management (continued)
Trend 6: Emissions Management (continued)
Top 8 Upstream Oil and Gas Predictions for 2023
Oil Production Forecast
Dry Gas Production Forecast
Oil and Gas Upstream CAPEX Investments
2023 Oil and Gas Predictions: North America
2023 Oil and Gas Predictions: Latin America
2023 Oil and Gas Predictions: Europe
2023 Oil and Gas Predictions: MEA
2023 Oil and Gas Predictions: Asia-Pacific
2023 Oil and Gas Predictions: Russia and CIS
Growth Opportunity 1: Negative-emission Technologies for Achieving the Net-zero Target
Growth Opportunity 1: Negative-emission Technologies for Achieving the Net-zero Target (continued)
Growth Opportunity 2: Modularization of CCUS Plants for Small Industries with Fewer CO2 Emissions
Growth Opportunity 2: Modularization of CCUS Plants for Small Industries with Fewer CO2 Emissions (continued)
Growth Opportunity 3: CCUS Clusters and Hubs for Integrating Different Industrial Clusters
Growth Opportunity 3: CCUS Clusters and Hubs for Integrating Different Industrial Clusters (continued)
Growth Opportunity 4: Floating Storage Regasification Units (FSRUs) for Rapid Supply of LNG in Europe
Growth Opportunity 4: Floating Storage Regasification Units (FSRUs) for Rapid Supply of LNG in Europe (continued)
Growth Opportunity 5: Increased DER and BESS Integration to Drive Electrification Technology Adoption
Growth Opportunity 5: Increased DER and BESS Integration to Drive Electrification Technology Adoption (continued)
Growth Opportunity 6: Blending Blue Hydrogen in Existing NG Pipelines
Growth Opportunity 6: Blending Blue Hydrogen in Existing NG Pipelines (continued)
Growth Opportunity 7: AI as a Tool to Achieve Sustainability
Growth Opportunity 7: AI as a Tool to Achieve Sustainability (continued)
Growth Opportunity 8: Robotics for Subsea Automation
Growth Opportunity 8: Robotics for Subsea Automation (continued)
Growth Opportunity 9: IoT for Boosting Efficiency and Accuracy
Growth Opportunity 9: IoT for Boosting Efficiency and Accuracy (continued)
Conclusions
Your Next Steps
Why Frost, Why Now?
List of Exhibits
List of Exhibits (continued)
List of Exhibits (continued)
List of Exhibits (continued)
Legal Disclaimer
Purchase includes:
- Report download
- Growth Dialog™ with our experts
Growth Dialog™
A tailored session with you where we identify the:- Strategic Imperatives
- Growth Opportunities
- Best Practices
- Companies to Action
Impacting your company's future growth potential.
| Deliverable Type | Market Outlook |
|---|---|
| Author | Mahesh Radhakrishnan |
| Industries | Energy |
| No Index | No |
| Is Prebook | No |
| Keyword 1 | Oil And Gas Industry |
| Keyword 2 | Future Of Oil And Gas Industry |
| Keyword 3 | Natural Gas Outlook |
| Podcast | No |
| Predecessor | K609-01-00-00-00 |
| WIP Number | K8AD-01-00-00-00 |