Blockchain in Oil & Gas Market to cross $29.16 Bn by 2034, Says Global Market Insights inc.

Selbyville, Delaware, Feb. 05, 2025 (GLOBE NEWSWIRE) —

The global blockchain in oil and gas market valuation is predicted to exceed USD 29.16 billion by 2034, reported in a research analysis by Global Market Insights Inc.

Blockchain technology, a decentralized digital ledger system, is revolutionizing the oil and gas sector by providing secure, tamper-proof transaction recording. This cutting-edge technology is emerging as a game-changer for an industry that demands unparalleled transparency and operational efficiency.

The oil and gas industry is becoming increasingly complex, driving the need for innovative solutions like blockchain. By automating transactions and streamlining processes, blockchain significantly reduces the reliance on manual paperwork, cutting down delays, errors, and fraud. These advantages position blockchain as an indispensable tool for optimizing resource and material management while enhancing overall supply chain efficiency.

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The blockchain in oil and gas market is categorized into public and private blockchain solutions. Public blockchains are anticipated to experience an impressive CAGR of 42.4% through 2034. Governments and public agencies increasingly favor public blockchains for their transparency and ability to combat corruption in resource management.Moreover, the rising emphasis on sustainable practices and compliance with environmental regulations further bolsters the adoption of public blockchain solutions.

Blockchain technology finds diverse applications across the oil and gas value chain, including supply chain management, operations, trading, and security. The supply chain segment, in particular, is poised to dominate, projected to generate USD 15.5 billion by 2034. The need for real-time data sharing among stakeholders is a primary driver of this growth. With blockchain-enabled tracking of materials and products across multiple regions, companies can enhance inventory management and forecasting accuracy, making it a cornerstone of industry transformation.

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In the United States, the blockchain in oil and gas market is forecast to reach USD 3.8 billion by 2034. Growing regulatory scrutiny, investor demands, and public expectations are driving the need for transparent and immutable record-keeping systems. Blockchain technology ensures accountability across the supply chain, from extraction to final distribution. Additionally, stringent environmental and safety regulations, along with financial disclosure requirements, are accelerating blockchain adoption. Collaborative pilot projects between private companies and government bodies further fuel market expansion in the U.S.

Partial chapters of report table of contents (TOC):

Chapter 1   Methodology & Scope

1.1    Market definitions
1.2    Base estimates & calculations
1.3    Forecast calculation
1.4    Primary research & validation
1.4.1    Primary sources
1.4.2    Data mining sources
1.5    Market Definitions

Chapter 2   Executive Summary

2.1    Industry synopsis, 2021 – 2034

Chapter 3   Blockchain in Oil and Gas Market Insights

3.1    Industry ecosystem
3.2    Regulatory landscape
3.3    Industry impact forces
3.3.1    Growth drivers
3.3.2    Industry pitfalls & challenges
3.4    Growth potential analysis
3.5    Porter’s analysis
3.5.1    Bargaining power of suppliers
3.5.2    Bargaining power of buyers
3.5.3    Threat of new entrants
3.5.4    Threat of substitutes
3.6    PESTEL analysis

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About Global Market Insights Inc.

Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.

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