The gas meter market is expected to grow at a CAGR of 5.1% during the forecast period of 2024 to 2032, due to several factors, including the increasing demand for efficient energy management, advancements in metering technology, and rising urbanization. In 2023, the market saw substantial revenue generation driven by the adoption of smart gas meters, which offer enhanced accuracy and connectivity features.
Recycled base oil, also known as re-refined base oil, is a refined product derived from used lubricants through a sophisticated re-refining process. This process involves removing impurities, contaminants, and used additives from the used lubricants, thereby restoring the base oil's original characteristics and performance properties. The resulting recycled base oil can be employed in various applications where lubrication and smooth operation are essential. The recycled base oil market is expected to grow at a CAGR of 5.2 % during the forecast period of 2024 to 2032.
The global CO2 direct air capture market is expected to witness significant growth during the forecast period from 2024 to 2032. This growth can be attributed to the increasing concerns regarding greenhouse gas emissions and the rising demand for sustainable technologies to mitigate the effects of climate change. The market revenue for CO2 direct air capture is expected to grow at a CAGR of 33% during the forecast period of 2024 to 2032.
The market for underground hydrogen storage is anticipated to expand at a CAGR of 10.5% during the forecast period of 2023 and 2031. The expansion of the underground hydrogen storage market is primarily attributable to research and development in hydrogen technologies and the growing acceptance of alternative energy sources. Increasing applications of hydrogen across multiple industries are anticipated to contribute to market expansion.
The global underground gas storage market is expected to grow at a CAGR of 3% during the forecast period of 2024 to 2032. Underground gas storage facilities are generally constructed to meet the global seasonal demand for gases. Gases are retained in storage facilities during periods of low demand and removed during periods of high demand.
The market size for oregano essential oil was estimated to be US $9 billion in 2020, and it is expected to register a CAGR of 10% during the forecast period of 2024 to 2032.The food and beverage industry's growing desire for natural preservatives as well as the expanding use of essential oils in aromatherapy within the healthcare sector are likely to be the primary drivers of the oregano essential oil market over the next few years.
The global oil & gas fittings market accounted for US$ 1.3 Bn in 2021 and is anticipated to grow to US$ 1.6 Bn growing at a CAGR of 3.3% during the forecast period from 2024 to 2032.
This report titled “Oil & Gas Separation Equipment Market - Growth, Future Prospects, and Competitive Analysis, 2016 – 2024” offers strategic insights into the trends in oil & gas separation equipment market along with the market size and forecast for the duration 2013 to 2024. The said research study incorporates in-depth analysis of multiple market segments based on product type, technology and geographical distribution.
This report titled “Gas Oil Market - Growth, Future Prospects, and Competitive Analysis, 2021 – 2032” offers strategic insights into the trends in gas oil market along with the market size and forecast for the duration 2011 to 2032. The said research study incorporates in-depth analysis of multiple market segments based on grade and geographical distribution.
As of 2022, the oil and gas business generated $5 trillion in global revenue, making it one of the world's top industries in terms of dollar value. Oil is essential to the global economic system, influencing transportation, heating, energy production, and industrial production.
As the world's primary fuel sources, oil and natural gas are major industries in the energy industry and play a significant role in the global economy. The processes and systems involved in oil and gas production and distribution are extremely complex, capital-intensive, and necessitate cutting-edge technology. Traditionally, natural gas has been associated with oil, primarily due to the production process or upstream aspect of the industry. Throughout much of the industry's history, natural gas was seen as a nuisance, and it is still flared in considerable quantities in many countries, particularly the United States. Natural gas has assumed a larger part of the global energy supply as a result of shale gas development in the United States and its lower greenhouse gas emissions compared to oil and coal when it is burned.
Although the oil and gas business is not unfamiliar with supply disruptions and price volatility, the current scenario is unprecedented. A confluence of economic, geopolitical, trade, policy, and financial variables has worsened the problem of underinvestment and prompted a rebalancing of the energy market as a whole. All three components of a balanced energy equation -energy security, supply diversification, and low-carbon transition-now face a "trilemma" of challenges. Although the immediate effect of this imbalance is high energy prices and record cash flows for O&G companies, the industry's future investment strategies and locations remain undetermined.
The mission of Acute Market Reports is to provide organizations operating in the Oil and Gas industry with in-depth market research and strategic consulting services. The innovative futuristic research methodology employed by Acute Market Reports aids our customers in making educated, timely business decisions. We partner with an extensive network of industry influencers to deliver world-class strategic research solutions to our clients.
