(MENAFN- America News Hour)A report on Oil and Gas Mobility Market has been added by Kenneth Research into its market research repository. The report provides an extensive analysis of the market by determining the relationship between the dependent and independent variables through correlation and regression for the forecast period, i.e., 2021 2025. The report on Oil and Gas Mobility Market further provides the supply and demand risks associated with the growth of the market, and consists of macro-economic indicators that are contributing to the market growth. The Oil and Gas Mobility Market is anticipated to record a CAGR of XX.X% during the forecast period. The Global Oil and Gas Mobility Market was valued at USD 13.6 Million in 2017 and is projected to reach USD 51.8 million by 2025, growing at a CAGR of 24.02% from 2018 to 2025.
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The market is thriving on account of the growing trade on fuel worldwide, backed by the rising demand for energy from the end-users. According to the statistics by the World Bank, exports of fuel increased from 12.91% of merchandise exports in 2001 to 14.25% of merchandise exports in 2018. Additionally, imports of fuel registered a growth by 1.28x between the years 2001 and 2018. In 2001, the import of fuel was 10.30% of merchandise exports whereas in 2018, it was 13.19% of merchandise exports. On the other hand, the increasing focus of the players in the energy and power industry to lower their cost of operations so as to enhance their profitability, is also anticipated to contribute to the market growth. The natural gas rents, which is defined as the difference between the total cost of production of natural gas and the production value at world prices, decreased significantly from 0.40% of GDP in 2001 to 0.18% of GDP in 2017. Alternatively, the oil rents, which increased from 1.09% of GDP in 2001 to 1.30% of GDP in 2019, portrays the need amongst the players to enhance their focus in reducing the cost of production of oil.
The Oil and Gas Mobility Market is also anticipated to grow on account of the growing demand for alternative renewable energy sources, backed by the growing concern for pollution worldwide emitted from burning conventional fuel sources. Total electricity capacity from renewable energy sources around the world increased from around 750,000MW in 2000 to about 2,500,000MW in 2019. Additionally, electricity from hydropower energy, wind, solar, and bioenergy, grew from around 780000MW, 16000MW, 1200MW, and 29000MW in 2000 to 1300000MW, 620000MW, 580000MW, and 120000MW in 2019 respectively.
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The Oil and Gas Mobility Market is segmented by SEGMENTS. The market is also segmented on the basis of region into North America (U.S. & Canada), Latin America (Argentina, Mexico, Brazil, Rest of Latin America), Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC, Poland, Turkey, Russia, Rest of Europe), Asia-Pacific (China, India, Japan, South Korea, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific), and the Middle East and Africa (Israel, GCC [Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman], North Africa, South Africa, Rest of Middle East and Africa). The report further consists of detailed analysis on various parameters that include the growth drivers, challenges, opportunities, and the latest trends, along with the market numbers in terms of value and volume.
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