Market Size of Canada Oil and Gas Downstream Industry
| Study Period | 2021 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2021 - 2022 |
| CAGR | 1.10 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Canada Oil and Gas Downstream Market Analysis
The Canadian oil and gas downstream market is expected to witness a CAGR of more than 1.1% during the forecast period.
The market was negatively impacted by COVID-19 in 2020. However, it has now reached pre-pandemic levels.
- Canada's rise in population, urbanization, and industrialization is expected to drive the oil and gas downstream market during the forecast period.
- On the other hand, the growing share of fuel-efficient vehicles and increasing penetration of electric vehicles and renewables are expected to hinder the market growth during the forecast period.
- Nevertheless, with the increasing demand for oil and gas, the country is planning to increase its market share by creating an impact on its oil and oil-based products. The country is also planning to expand its downstream markets, such as oil refining and others. This, in turn, is expected to create a significant opportunity for the payers involved in the market in the near future.
Canada Oil and Gas Downstream Industry Segmentation
Oil and gas downstream are refining petroleum crude oil, processing and purifying raw natural gas, and marketing and distributing products.
Canada's oil and gas downstream market is segmented by process type. By process type, the market is segmented into refineries and petrochemical plants. The report also covers the market size and forecasts for the Canadian oil and gas downstream market. For each segment, the market sizing and forecasts have been done based on refining capacity (million barrels per day).
| Process Type | |
| Refineries | |
| Petrochemical Plants |
Canada Oil and Gas Downstream Market Size Summary
The Canadian downstream oil and gas market is poised for moderate growth, driven by factors such as population increase, urbanization, and industrialization. Despite the initial setbacks due to the COVID-19 pandemic, the market has rebounded to pre-pandemic levels. However, the rise of fuel-efficient and electric vehicles, along with the growing adoption of renewable energy sources, presents challenges to market expansion. Canada aims to bolster its market share by enhancing its oil refining capabilities and expanding downstream operations, which is expected to create significant opportunities for industry players. The country's refining sector, with a total capacity spread across Eastern and Western Canada, plays a crucial role in supplying essential products like fuels, lubricants, and chemicals to various industries.
The market landscape is moderately consolidated, with key players such as Imperial Oil Ltd, Suncor Energy Inc., and Royal Dutch Shell PLC leading the charge. Recent investments, like Irving Oil's expansion of hydrogen capacity, highlight the sector's shift towards cleaner energy solutions. However, the growth of the electric vehicle industry, supported by government policies and incentives, poses a potential threat to traditional petroleum demand. Canada's commitment to increasing zero-emission vehicle sales underscores the shift towards sustainable transportation, which could impact the demand for conventional fuel products. Despite these challenges, strategic partnerships and investments in new technologies, such as blue ammonia and methanol production, indicate a dynamic and evolving market landscape.
Canada Oil and Gas Downstream Market Size - Table of Contents
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1. MARKET OVERVIEW
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1.1 Introduction
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1.2 Refining Capacity and Forecast in million barrels per day, till 2027
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1.3 Recent Trends and Developments
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1.4 Government Policies and Regulations
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1.5 Key Projects Information
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1.6 Market Dynamics
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1.6.1 Drivers
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1.6.2 Restraints
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1.7 Supply Chain Analysis
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1.8 PESTLE Analysis
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2. MARKET SEGMENTATION
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2.1 Process Type
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2.1.1 Refineries
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2.1.2 Petrochemical Plants
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Canada Oil and Gas Downstream Market Size FAQs
What is the current Canada Oil and Gas Downstream Market size?
The Canada Oil and Gas Downstream Market is projected to register a CAGR of greater than 1.10% during the forecast period (2024-2029)
Who are the key players in Canada Oil and Gas Downstream Market?
Imperial Oil Ltd , Suncor Energy Inc. , Royal Dutch Shell Plc , Husky Energy Inc. and Irving Oil Ltd are the major companies operating in the Canada Oil and Gas Downstream Market.
