Energy Global Oil and Gas Industry Outlook and Growth Opportunities, 2024 Updated Research Available

Transformative Megatrends Drive Oil and Gas Companies to Digitize and Implement Decarbonization Initiatives

INDUSTRY
Energy

RELEASE DATE
12-Jun-2024
REGION
Global
DELIVERABLE TYPE
Market Outlook

RESEARCH CODE
KA1F-01-00-00-00
SKU
EG_2024_792
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Global Oil and Gas Industry Outlook and Growth Opportunities, 2024
Published on: 12-Jun-2024 | SKU: EG_2024_792

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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 struggle with pricing, energy security, and industry disruption.

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.

Notably, the study offers stakeholders insights and opportunities they can leverage in the dynamic O&G space over the next decade.

Research Highlights

This analysis provides a detailed evaluation of the main transformational trends and growth opportunities we expect to see shaping the O&G industry throughout 2024. The study period is 2023–2035, with 2023 as the base year and 2024–2035 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: Russia and Kazakhstan
  • Asia-Pacific: India, China, Malaysia, Singapore, Australia, and Japan
  • Middle East and Africa: Saudi Arabia, United Arab Emirates, Oman, Qatar, Kuwait, Nigeria, Algeria, Egypt, Mozambique, Libya, and Angola

We cover three areas:

  • Upstream: O&G, automation, digitalization, electrification
  • Midstream: Liquid natural gas
  • Decarbonization: Emissions management, hydrogen, CCUS

Author: Mahesh Radhakrishnan

The 2023 Oil and Gas Industry: Forecast vs. Actual

Historical Analytics: Global O&G Industry Upstream Capital Expenditure (CAPEX)

Top Predictions for 2024

Why is it Increasingly Difficult to Grow?

The Strategic Imperative 8™

The Impact of the Top 3 Strategic Imperatives on the O&G Industry

Growth Opportunities Fuel the Growth Pipeline EngineTM

Research Scope

What Does the Global O&G Outlook Cover?

2023 Highlights of the Global O&G Industry

2023 O&G Key Performance Indicators (KPIs): Actual

2024 O&G KPIs: Forecast

Trends and Events in Historical Prices for West Texas Intermediate (WTI) and Brent

Global Average Rig Count vs Benchmark Crude Oil Prices

O&G Industry Trends

Trend 1: CCUS an Important Equation in Decarbonization

Trend 1: CCUS an Important Equation in Decarbonization (continued)

Trend 1: CCUS an Important Equation in Decarbonization (continued)

Trend 1: Global CCUS Project Type and Status

Trend 1: CCUS Landscape in the Americas

Trend 1: CCUS Landscape in Europe

Trend 1: CCUS Landscape in APAC

Trend 1: CCUS Landscape in MEA

Trend 1: Direct Air Carbon Capture (DACC)

Trend 1: Endgame Scenarios for Profitable DACC Implementation

Trend 1: 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: O&G Electrification as a Decarbonization Pathway

Trend 3: O&G Electrification as a Decarbonization Pathway (continued)

Trend 3: O&G Electrification as a Decarbonization Pathway (continued)

Trend 3: O&G Electrification as a Decarbonization Pathway (continued)

Trend 3: O&G Electrification as a Decarbonization Pathway (continued)

Trend 3: O&G Electrification as a Decarbonization Pathway (continued)

Trend 4: Growth of the Hydrogen Economy

Trend 4: Growth of the Hydrogen Economy (continued)

Trend 4: Growth of the Hydrogen Economy (continued)

Trend 4: Growth of the Hydrogen Economy (continued)

Trend 4: Growth of the Hydrogen Economy (continued)

Trend 5: O&G Automation

Trend 5: O&G Automation (continued)

Trend 5: O&G Automation (continued)

Trend 5: O&G Automation (continued)

Trend 5: O&G Automation (continued)

Trend 5: O&G Automation (continued)

Trend 5: O&G Automation (continued)

Trend 6: Emissions Management

Trend 6: Emissions Management (continued)

Trend 6: Emissions Management (continued)

Trend 6: Emissions Management (continued)

Trend 6: Emissions Management (continued)

Trend 7: Alternative Fuels—A Catalyst to Decarbonize Hard-to-abate Industries

Trend 7: Low-carbon Alternative Fuels—A Catalyst to Decarbonize Hard-to-abate Industries (continued)

Trend 8: The Role of Drilling Automation in Upstream Operations

Trend 8: Drilling Automation

Trend 8: Drilling Automation (continued)

Top 8 Upstream O&G Predictions for 2024

Global Oil Production Forecast

Natural Gas Production Forecast

O&G Upstream CAPEX Investments

North America

LATAM

Europe

MEA

APAC

Russia and CIS

Growth Opportunity 1: Increased DER and BESS Integration to Drive Electrification Technology Adoption

Growth Opportunity 1: Increased DER and BESS Integration to Drive Electrification Technology Adoption (continued)

Growth Opportunity 2: AI as a Tool to Achieve Sustainability

Growth Opportunity 2: AI as a Tool to Achieve Sustainability (continued)

Growth Opportunity 3: DACC with CO2 Used for SAF

Growth Opportunity 3: DACC with CO2 Used for SAF (continued)

Growth Opportunity 4: Negative-emission Technologies for Achieving the Net-zero Target

Growth Opportunity 4: Negative-emission Technologies for Achieving the Net-zero Target (continued)

Growth Opportunity 5: Modularization of CCUS Plants for Small Industries with Fewer CO2 Emissions

Growth Opportunity 5: Modularization of CCUS Plants for Small Industries with Fewer CO2 Emissions (continued)

Growth Opportunity 6: CCUS Clusters and Hubs for Integrating Different Industrial Clusters

Growth Opportunity 6: CCUS Clusters and Hubs for Integrating Different Industrial Clusters (continued)

Growth Opportunity 7: Floating Storage Regasification Units (FSRUs) for Rapid LNG Supply in Europe

Growth Opportunity 7: Floating Storage Regasification Units (FSRUs) for Rapid LNG Supply in Europe (continued)

Growth Opportunity 8: Blending Blue Hydrogen in Existing NG Pipelines

Growth Opportunity 8: Blending Blue Hydrogen in Existing NG Pipelines (continued)

Growth Opportunity 9: Robotics for Subsea Automation

Growth Opportunity 9: Robotics for Subsea Automation (continued)

Growth Opportunity 10: IoT for Boosting Efficiency and Accuracy

Growth Opportunity 10: IoT for Boosting Efficiency and Accuracy (continued)

Conclusions and Future Outlook

Best Practices Recognition

Frost Radar

Benefits and Impacts of Growth Opportunities

Next Steps

Take the Next Step

List of Exhibits

List of Exhibits (continued)

List of Exhibits (continued)

List of Exhibits (continued)

List of Exhibits (continued)

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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 struggle with pricing, energy security, and industry disruption. 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. Notably, the study offers stakeholders insights and opportunities they can leverage in the dynamic O&G space over the next decade.--BEGIN PROMO--

Research Highlights

This analysis provides a detailed evaluation of the main transformational trends and growth opportunities we expect to see shaping the O&G industry throughout 2024. The study period is 2023–2035, with 2023 as the base year and 2024–2035 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: Russia and Kazakhstan
  • Asia-Pacific: India, China, Malaysia, Singapore, Australia, and Japan
  • Middle East and Africa: Saudi Arabia, United Arab Emirates, Oman, Qatar, Kuwait, Nigeria, Algeria, Egypt, Mozambique, Libya, and Angola

We cover three areas:

  • Upstream: O&G, automation, digitalization, electrification
  • Midstream: Liquid natural gas
  • Decarbonization: Emissions management, hydrogen, CCUS

Author: Mahesh Radhakrishnan

More Information
Deliverable Type Market Outlook
Author Mahesh Radhakrishnan
Industries Energy
No Index No
Is Prebook No
Keyword 1 Oil & Gas Industry Growth
Keyword 2 Gas Industry Insights
Keyword 3 Oil Market Opportunities
Podcast No
Predecessor K8AD-01-00-00-00
WIP Number KA1F-01-00-00-00

Global Oil and Gas Industry Outlook and Growth Opportunities, 2024

$4,950.00

Special Price $3,712.50 save 25 %

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EG_2024_792