United Kingdom Oil and Gas Market Growth, Size, Trends, Share, Revenue and Future Outlook
United Kingdom Oil and Gas Market Size- By Type, By Deployment, By Application- Regional Outlook, Competitive Strategies and Segment Forecast to 2033
| Published: Jun-2024 | Report ID: POAE2443 | Pages: 1 - 102 | Formats*: |
| Category : Power & Energy | |||
United Kingdom Oil and Gas Market Introduction and Overview
According to SPER Market Research, the United Kingdom Oil and Gas Market is estimated to reach USD 358.5 billion by 2033 with a CAGR of 1.48%.
The report includes an in-depth analysis of the United Kingdom Oil and Gas Market, including market size and trends, product mix, applications, and supplier analysis. Essential natural resources that are vital to the operation of contemporary society are gas and oil. Primarily obtained from subterranean reserves, oil is processed into a range of goods, including jet fuel, gasoline, and diesel, which power industry and transportation. It is also a vital component in the synthesis of chemicals, medicines, and polymers. Natural gas is a flexible fuel that can be found in deposits alone or next to oil. It is used for heating, producing power, and as a feedstock for petrochemical and fertilizer manufacturing.
- May 2022; One of the largest oil and gas corporations, BP PLC, declared that it will invest USD 22.5 billion in the North Sea's oil and gas resources in order to increase output while lowering emissions. By doing this, the UK will be able to satisfy its growing energy demands in a sustainable manner and improve its energy security.
- May 2023; Major UK oil and gas producer Shell PLC and big-data analytics startup Spark Cognition announced their partnership. According to Shell, artificial intelligence-based technology will be used to improve deep-sea offshore oil exploration and production.
Market Opportunities and Challenges
Opportunities: Efficiency and output have increased due to technological breakthroughs in production and extraction. Market operations are supported by regulations that are favourable and geopolitically stable. Worldwide oil prices also affect investment and production levels, which in turn drives the market. Further reshaping the industry are environmental legislation and the shift to renewable energy sources, which are pressuring businesses to adopt more sustainable operations. While the UK's strategic location and advanced infrastructure promote trade and transit across Europe and beyond, other important economic considerations include the rise of the industrial sector and the demand for energy.
Challenges: Operations have become more complex and expensive as a result of regulatory demands and strict environmental regulations meant to reduce carbon emissions. The market is also impacted by the fluctuation of oil prices around the world, which has an impact on profitability and investment. Furthermore, the UK's commitment to reaching net-zero carbon emissions and the drive towards renewable energy sources call for a major transformation that will include a large investment in new infrastructure and technology. Moreover, It has complicated market dynamics and supply chain logistics by introducing uncertainty in trade and regulatory conformity with the European Union.
Market Competitive Landscape
The competitive landscape of the United Kingdom's oil and gas market is shaped by a mix of established international companies, emerging firms, and state-owned enterprises. The key players of this market are Bg Group Limited, Bp Plc, Cadent Gas Ltd, Centrica Plc, Chevron Corporation, Dana Petroleum E&P Limited, Esso Uk Limited, Shell Plc, Totalenergies Se, Valaris Plc, Others.
Scope of the Report:
| Report Metric | Details |
| Market size available for years | 2020-2033 |
| Base year considered | 2023 |
| Forecast period | 2024-2033 |
| Segments covered | By Type, By Deployment, By Application |
| Regions covered | London, East Anglia, Southwest, Southeast, Scotland, East Midlands, Yorkshire & Humberside |
| Companies Covered | Bg Group Limited, Bp Plc, Cadent Gas Ltd, Centrica Plc, Chevron Corporation, Dana Petroleum E&P Limited, Esso Uk Limited, Shell Plc, Totalenergies Se, Valaris Plc, Others. |
COVID-19 Impact on United Kingdom Oil and Gas Market
The COVID-19 pandemic had a major effect on the oil and gas market in the United Kingdom. Lockdowns and decreased industrial activity resulted in a rapid loss in demand, which in turn caused a steep drop in oil prices and lowered income. Businesses were compelled to reduce capital expenditures, postpone or abandon projects, and undertake workforce reductions. Offshore operations became much more complex due to supply chain problems and operational disruptions, and a slowdown in investment in the industry reduced long-term production capacity. The pandemic also expedited the transition to renewable energy, putting more pressure on the oil and gas industry to diversify and make investments in sustainable technology. This underscored the industry's susceptibility to worldwide shocks and the demand for increased flexibility and resilience.
Key Target Audience:
- Exploration and Production Companies
- Refining and Petrochemical Companies
- Service Providers
Our in-depth analysis of the United Kingdom Oil and Gas Market includes the following segments:
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Key Topics Covered in the Report:
- United Kingdom Oil and Gas Market Size (FY’2024-FY’2033)
- Overview of United Kingdom Oil and Gas Market
- Segmentation of United Kingdom Oil and Gas Market By Type (Upstream, Downstream, Midstream)
- Segmentation of United Kingdom Oil and Gas Market By Deployment (Offshore, Onshore)
- Segmentation of United Kingdom Oil and Gas Market By Application (Residential, Commercial, Industrial)
- Statistical Snap of United Kingdom Oil and Gas Market
- Expansion Analysis of United Kingdom Oil and Gas Market
- Problems and Obstacles in United Kingdom Oil and Gas Market
- Competitive Landscape in the United Kingdom Oil and Gas Market
- Impact of COVID-19 and Demonetization on United Kingdom Oil and Gas Market
- Details on Current Investment in United Kingdom Oil and Gas Market
- Competitive Analysis of United Kingdom Oil and Gas Market
- Prominent Players in the United Kingdom Oil and Gas Market
- SWOT Analysis of United Kingdom Oil and Gas Market
- United Kingdom Oil and Gas Market Future Outlook and Projections (FY’2024-FY’2033)
- Recommendations from Analyst
1. Introduction
1.1. Scope of the report1.2. Market segment analysis
2. Research Methodology
2.1. Research data source2.1.1. Secondary Data2.1.2. Primary Data2.1.3. SPER’s internal database2.1.4. Premium insight from KOL’s2.2. Market size estimation2.2.1. Top-down and Bottom-up approach2.3. Data triangulation
3. Executive Summary
4. Market Dynamics
4.1. Driver, Restraint, Opportunity and Challenges analysis4.1.1. Drivers4.1.2. Restraints4.1.3. Opportunities4.1.4. Challenges4.2. COVID-19 Impacts of the United Kingdom Oil and Gas Market.
5. Market variable and outlook
5.1. SWOT Analysis5.1.1. Strengths5.1.2. Weaknesses5.1.3. Opportunities5.1.4. Threats5.2. PESTEL Analysis5.2.1. Political Landscape5.2.2. Economic Landscape5.2.3. Social Landscape5.2.4. Technological Landscape5.2.5. Environmental Landscape5.2.6. Legal Landscape5.3. PORTER’s Five Forces5.3.1. Bargaining power of suppliers5.3.2. Bargaining power of buyers5.3.3. Threat of Substitute5.3.4. Threat of new entrant5.3.5. Competitive rivalry5.4. Heat Map Analysis
6. Competitive Landscape
6.1. United Kingdom Oil and Gas Market Manufacturing Base Distribution, Sales Area, Product Type6.2. Mergers & Acquisitions, Partnerships, Product Launch, and Collaboration in United Kingdom Oil and Gas Market
7. United Kingdom Oil and Gas Market, By Type (USD Million) 2020-2033
7.1. United Kingdom Oil and Gas Market Size, Share and Forecast, By Type, 2020-20267.2. United Kingdom Oil and Gas Market Size, Share and Forecast, By Type, 2027-20337.3. Upstream7.4. Downstream7.5. Midstream
8. United Kingdom Oil and Gas Market, By Deployment (USD Million) 2020-2033
8.1. United Kingdom Oil and Gas Market Size, Share and Forecast, By Deployment, 2020-20268.2. United Kingdom Oil and Gas Market Size, Share and Forecast, By Deployment, 2027-20338.3. Offshore8.4. Onshore
9. United Kingdom Oil and Gas Market, By Application (USD Million) 2020-2033
9.1. United Kingdom Oil and Gas Market Size, Share and Forecast, By Application, 2020-20269.2. United Kingdom Oil and Gas Market Size, Share and Forecast, By Application, 2027-20339.3. Residential9.4. Commercial9.5. Industrial
10. United Kingdom Oil and Gas Market Forecast, 2020-2033 (USD Million)
10.1. United Kingdom Oil and Gas Market Size and Market Share
11. United Kingdom Oil and Gas Market, By Region, 2020-2033 (USD Million)
11.1. United Kingdom Oil and Gas Market Size and Market Share By Region (2020-2026)11.2. United Kingdom Oil and Gas Market Size and Market Share By Region (2027-2033)11.3. London11.4. East Anglia11.5. Southwest11.6. Southeast11.7. Scotland11.8. East Midlands11.9. Yorkshire & Humberside
12. Company Profile
12.1. BG GROUP LIMITED12.1.1. Company details12.1.2. Financial outlook12.1.3. Product summary12.1.4. Recent developments12.2. BP PLC12.2.1. Company details12.2.2. Financial outlook12.2.3. Product summary12.2.4. Recent developments12.3. CADENT GAS LTD12.3.1. Company details12.3.2. Financial outlook12.3.3. Product summary12.3.4. Recent developments12.4. CENTRICA PLC12.4.1. Company details12.4.2. Financial outlook12.4.3. Product summary12.4.4. Recent developments12.5. CHEVRON CORPORATION12.5.1. Company details12.5.2. Financial outlook12.5.3. Product summary12.5.4. Recent developments12.6. DANA PETROLEUM E&P LIMITED12.6.1. Company details12.6.2. Financial outlook12.6.3. Product summary12.6.4. Recent developments12.7. ESSO UK LIMITED12.7.1. Company details12.7.2. Financial outlook12.7.3. Product summary12.7.4. Recent developments12.8. SHELL PLC12.8.1. Company details12.8.2. Financial outlook12.8.3. Product summary12.8.4. Recent developments12.9. TOTALENERGIES SE12.9.1. Company details12.9.2. Financial outlook12.9.3. Product summary12.9.4. Recent developments12.10. VALARIS PLC12.10.1. Company details12.10.2. Financial outlook12.10.3. Product summary12.10.4. Recent developments12.11. OTHERS
13. Conclusion
14. List of Abbreviations
15. Reference Links
SPER Market Research’s methodology uses great emphasis on primary research to ensure that the market intelligence insights are up to date, reliable and accurate. Primary interviews are done with players involved in each phase of a supply chain to analyze the market forecasting. The secondary research method is used to help you fully understand how the future markets and the spending patterns look likes.
The report is based on in-depth qualitative and quantitative analysis of the Product Market. The quantitative analysis involves the application of various projection and sampling techniques. The qualitative analysis involves primary interviews, surveys, and vendor briefings. The data gathered as a result of these processes are validated through experts opinion. Our research methodology entails an ideal mixture of primary and secondary initiatives.
Frequently Asked Questions About This Report
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United Kingdom Oil and Gas Market size is USD 358.5 billion from 2024 to 2033.
United Kingdom Oil and Gas Market Segment is Covered By Type, By Deployment, By Application
The Europe region is anticipated to have the highest market share in United Kingdom Oil and Gas Market.
The key players in the market include Companies Covered Bg Group Limited, Bp Plc, Cadent Gas Ltd, Centrica Plc, Chevron Corporation, Dana Petroleum E&P Limited, Esso Uk Limited, Shell Plc, Totalenergies Se, Valaris Plc, Others.
While the UK's strategic location and advanced infrastructure promote trade and transit across Europe and beyond, other important economic considerations include the rise of the industrial sector and the demand for energy.
United Kingdom Oil and Gas Market is projected to reach USD 358.5 billion by 2033, growing at a CAGR of 1.48% during the forecast period.
United Kingdom Oil and Gas Market grew in market size from 2024. The Market is expected to reach USD 358.5 billion by 2033, at a CAGR of 1.48% during the forecast period.
United Kingdom Oil and Gas Market CAGR of 1.48% during the forecast period.
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