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Oil & Gas Electrification Market Size
- Report ID: GMI5291
- Published Date: Jul 2022
- Report Format: PDF
Oil & Gas Electrification Market Size
Oil & Gas Electrification Market size valued at USD 1.4 billion in 2021 and is projected to expand at a CAGR of over 31% from 2022 to 2030. A paradigm shift to reduce the impact of conventional energy generation sources on the environment along with augmenting innovative & sustainable energy production technologies to fulfill power requirements will boost the market growth.
The COVID-19 outbreak has marginally impacted the industry on account of a reduced workforce management coupled with strict restrictions across various regions. The industry is set to recover its lost strength owing to relaxations in government-imposed lockdowns coupled with the resumption of operations. In addition, rising concerns toward carbon emissions along with favorable mandates & policies to promote the adoption of renewables will spur the market expansion.
| Report Attribute | Details |
|---|---|
| Base Year: | 2021 |
| Oil & Gas Electrification Market Size in 2021: | 1,478.4 Million (USD) |
| Forecast Period: | 2022 to 2030 |
| Forecast Period 2022 to 2030 CAGR: | 31.4 % |
| 2030 Value Projection: | 23,123.6 Million (USD) |
| Historical Data for: | 2018 to 2021 |
| No. of Pages: | 270 |
| Tables, Charts & Figures: | 290 |
| Segments covered: | Technology, Application |
| Growth Drivers: |
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| Pitfalls & Challenges: |
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Frequently Asked Questions (FAQ) :
Oil & Gas Electrification Market Scope
