PUBLISHER: Global Industry Analysts, Inc. | PRODUCT CODE: 1644171
PUBLISHER: Global Industry Analysts, Inc. | PRODUCT CODE: 1644171
Blockchain in Oil & Gas
Global Blockchain in Oil & Gas Market to Reach US$7.7 Billion by 2030
The global market for Blockchain in Oil & Gas estimated at US$1.1 Billion in the year 2024, is expected to reach US$7.7 Billion by 2030, growing at a CAGR of 39.2% over the analysis period 2024-2030. Public Blockchain, one of the segments analyzed in the report, is expected to record a 40.9% CAGR and reach US$4.7 Billion by the end of the analysis period. Growth in the Private Blockchain segment is estimated at 36.7% CAGR over the analysis period.
The U.S. Market is Estimated at US$279.4 Million While China is Forecast to Grow at 37.0% CAGR
The Blockchain in Oil & Gas market in the U.S. is estimated at US$279.4 Million in the year 2024. China, the world's second largest economy, is forecast to reach a projected market size of US$1.1 Billion by the year 2030 trailing a CAGR of 37.0% over the analysis period 2024-2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at a CAGR of 35.8% and 33.5% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 26.4% CAGR.
Global Blockchain in Oil & Gas Market - Key Trends & Drivers Summarized
How Is Blockchain Revolutionizing Operations in the Oil & Gas Sector?
Blockchain is redefining operational workflows in the oil and gas industry by enabling seamless, transparent, and secure data exchanges across the supply chain. The technology provides immutable records of transactions, significantly reducing the risks of fraud and ensuring compliance with regulatory frameworks. Companies in the upstream, midstream, and downstream sectors are increasingly adopting blockchain to improve the traceability of assets, such as crude oil and natural gas, from extraction to end delivery. This transparency is particularly critical in addressing concerns related to environmental, social, and governance (ESG) criteria, as stakeholders demand greater accountability. Additionally, blockchain-enabled smart contracts are automating routine tasks, such as billing, royalty payments, and resource allocation, minimizing manual errors and cutting operational costs. As a result, the integration of blockchain is enhancing both efficiency and trust among industry players, signaling a paradigm shift in how business is conducted within the oil and gas ecosystem.
Why Is Blockchain Gaining Momentum Amidst Energy Transition Challenges?
The transition to renewable energy sources and heightened scrutiny over carbon emissions are compelling the oil and gas industry to innovate, and blockchain is emerging as a vital enabler in this transformation. By facilitating real-time tracking of emissions and enabling carbon credit trading, blockchain is helping companies achieve their sustainability goals more effectively. Furthermore, the technology is playing a pivotal role in advancing energy trading platforms, allowing producers and consumers to exchange energy more efficiently and cost-effectively. Blockchain is also aiding in the integration of decentralized energy systems, where smaller energy providers can participate in the market. These applications not only address the challenges of transitioning to a low-carbon future but also create opportunities for the oil and gas sector to remain competitive by embracing digitalization. The widespread adoption of blockchain is indicative of its potential to bridge the gap between traditional energy practices and the demands of a sustainable, technology-driven future.
What Are the Emerging Use Cases Driving Adoption?
The versatility of blockchain is reflected in its growing range of applications within the oil and gas sector. One notable use case is in joint venture accounting, where blockchain ensures transparency and accuracy in financial reporting among multiple stakeholders. Another emerging application is in asset management, where blockchain-enabled solutions facilitate the real-time monitoring of equipment and infrastructure, reducing downtime and maintenance costs. The technology is also being used to enhance supply chain resilience by offering end-to-end visibility, particularly in logistics and inventory management. Moreover, blockchain is revolutionizing trading platforms, enabling secure and efficient peer-to-peer transactions for commodities like crude oil and liquefied natural gas. These innovations are fostering a more agile and responsive oil and gas industry, ensuring that companies can adapt to market fluctuations and emerging challenges with greater ease.
What Factors Are Driving the Rapid Growth of Blockchain in Oil & Gas?
The growth in the blockchain in oil and gas market is driven by several factors, including the demand for enhanced operational efficiency, regulatory compliance, and the need for secure data management. The increasing complexity of global supply chains has prompted the adoption of blockchain solutions to mitigate inefficiencies and improve traceability. Technological advancements, such as the integration of blockchain with IoT devices, are enabling real-time data capture and analytics, further driving adoption. Additionally, the rising importance of ESG considerations is pushing companies to leverage blockchain for transparent reporting and carbon management. The growing popularity of decentralized energy models and blockchain-based smart contracts is also contributing to market expansion. Government initiatives and partnerships with blockchain technology providers are fostering an environment conducive to widespread implementation. These factors collectively underscore the transformative impact of blockchain on the oil and gas sector, ensuring sustained growth and innovation in the coming years.
SCOPE OF STUDY:
The report analyzes the Blockchain in Oil & Gas market in terms of units by the following Segments, and Geographic Regions/Countries:
Segments:
Type (Public Blockchain, Private Blockchain); Application (Supply Chain Application, Operations Application, Trading Application, Security Application)
Geographic Regions/Countries:
World; United States; Canada; Japan; China; Europe (France; Germany; Italy; United Kingdom; and Rest of Europe); Asia-Pacific; Rest of World.
Select Competitors (Total 48 Featured) -
- Accenture Plc
- Alchemy Insights
- Asynclabs
- BLOCKCHAIN Power Corporation
- ConsenSys Software Inc.
- Equinor ASA
- HCL Technologies Ltd.
- IBM Corporation
- Infosys Ltd.
- Kaleido
TABLE OF CONTENTS
I. METHODOLOGY
II. EXECUTIVE SUMMARY
- 1. MARKET OVERVIEW
- Influencer Market Insights
- World Market Trajectories
- Economic Frontiers: Trends, Trials & Transformations
- Blockchain in Oil & Gas - Global Key Competitors Percentage Market Share in 2024 (E)
- Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2024 (E)
- 2. FOCUS ON SELECT PLAYERS
- 3. MARKET TRENDS & DRIVERS
- Growing Need for Operational Transparency Spurs Blockchain Adoption in Oil & Gas
- Increasing Cybersecurity Threats Strengthen the Business Case for Blockchain Implementation
- Blockchain-Enabled Smart Contracts Enhance Efficiency in Energy Trading
- Integration of Blockchain with IoT Expands Opportunities for Real-Time Asset Tracking
- Regulatory Compliance Requirements Drive Adoption of Blockchain for Compliance Reporting
- Rising Demand for Cost Optimization and Efficiency in Upstream Operations Propels Adoption
- Blockchain-Based Carbon Credit Trading Strengthens Market Growth Prospects
- Growing Interest in Decentralized Energy Markets Expands Blockchain Use Cases
- Enhancing Supply Chain Security and Authenticity Drives Adoption in Oil & Gas Logistics
- Reducing Transaction Disputes and Fraud Strengthens Market Confidence in Blockchain
- Adoption of Blockchain for Asset Lifecycle Management Enhances Market Opportunities
- Blockchain Integration with Predictive Analytics Improves Maintenance and Downtime Reduction
- 4. GLOBAL MARKET PERSPECTIVE
- TABLE 1: World Blockchain in Oil & Gas Market Analysis of Annual Sales in US$ Thousand for Years 2015 through 2030
- TABLE 2: World Recent Past, Current & Future Analysis for Blockchain in Oil & Gas by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Sales in US$ Thousand for Years 2024 through 2030 and % CAGR
- TABLE 3: World 6-Year Perspective for Blockchain in Oil & Gas by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets for Years 2025 & 2030
- TABLE 4: World Recent Past, Current & Future Analysis for Public Blockchain by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Sales in US$ Thousand for Years 2024 through 2030 and % CAGR
- TABLE 5: World 6-Year Perspective for Public Blockchain by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World for Years 2025 & 2030
- TABLE 6: World Recent Past, Current & Future Analysis for Private Blockchain by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Sales in US$ Thousand for Years 2024 through 2030 and % CAGR
- TABLE 7: World 6-Year Perspective for Private Blockchain by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World for Years 2025 & 2030
- TABLE 8: World Recent Past, Current & Future Analysis for Supply Chain Application by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Sales in US$ Thousand for Years 2024 through 2030 and % CAGR
- TABLE 9: World 6-Year Perspective for Supply Chain Application by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World for Years 2025 & 2030
- TABLE 10: World Recent Past, Current & Future Analysis for Operations Application by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Sales in US$ Thousand for Years 2024 through 2030 and % CAGR
- TABLE 11: World 6-Year Perspective for Operations Application by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World for Years 2025 & 2030
- TABLE 12: World Recent Past, Current & Future Analysis for Trading Application by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Sales in US$ Thousand for Years 2024 through 2030 and % CAGR
- TABLE 13: World 6-Year Perspective for Trading Application by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World for Years 2025 & 2030
- TABLE 14: World Recent Past, Current & Future Analysis for Security Application by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Sales in US$ Thousand for Years 2024 through 2030 and % CAGR
- TABLE 15: World 6-Year Perspective for Security Application by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World for Years 2025 & 2030
III. MARKET ANALYSIS
- UNITED STATES
- Blockchain in Oil & Gas Market Presence - Strong/Active/Niche/Trivial - Key Competitors in the United States for 2025 (E)
- TABLE 16: USA Recent Past, Current & Future Analysis for Blockchain in Oil & Gas by Type - Public Blockchain and Private Blockchain - Independent Analysis of Annual Sales in US$ Thousand for the Years 2024 through 2030 and % CAGR
- TABLE 17: USA 6-Year Perspective for Blockchain in Oil & Gas by Type - Percentage Breakdown of Value Sales for Public Blockchain and Private Blockchain for the Years 2025 & 2030
- TABLE 18: USA Recent Past, Current & Future Analysis for Blockchain in Oil & Gas by Application - Supply Chain Application, Operations Application, Trading Application and Security Application - Independent Analysis of Annual Sales in US$ Thousand for the Years 2024 through 2030 and % CAGR
- TABLE 19: USA 6-Year Perspective for Blockchain in Oil & Gas by Application - Percentage Breakdown of Value Sales for Supply Chain Application, Operations Application, Trading Application and Security Application for the Years 2025 & 2030
- CANADA
- TABLE 20: Canada Recent Past, Current & Future Analysis for Blockchain in Oil & Gas by Type - Public Blockchain and Private Blockchain - Independent Analysis of Annual Sales in US$ Thousand for the Years 2024 through 2030 and % CAGR
- TABLE 21: Canada 6-Year Perspective for Blockchain in Oil & Gas by Type - Percentage Breakdown of Value Sales for Public Blockchain and Private Blockchain for the Years 2025 & 2030
- TABLE 22: Canada Recent Past, Current & Future Analysis for Blockchain in Oil & Gas by Application - Supply Chain Application, Operations Application, Trading Application and Security Application - Independent Analysis of Annual Sales in US$ Thousand for the Years 2024 through 2030 and % CAGR
- TABLE 23: Canada 6-Year Perspective for Blockchain in Oil & Gas by Application - Percentage Breakdown of Value Sales for Supply Chain Application, Operations Application, Trading Application and Security Application for the Years 2025 & 2030
- JAPAN
- Blockchain in Oil & Gas Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Japan for 2025 (E)
- TABLE 24: Japan Recent Past, Current & Future Analysis for Blockchain in Oil & Gas by Type - Public Blockchain and Private Blockchain - Independent Analysis of Annual Sales in US$ Thousand for the Years 2024 through 2030 and % CAGR
- TABLE 25: Japan 6-Year Perspective for Blockchain in Oil & Gas by Type - Percentage Breakdown of Value Sales for Public Blockchain and Private Blockchain for the Years 2025 & 2030
- TABLE 26: Japan Recent Past, Current & Future Analysis for Blockchain in Oil & Gas by Application - Supply Chain Application, Operations Application, Trading Application and Security Application - Independent Analysis of Annual Sales in US$ Thousand for the Years 2024 through 2030 and % CAGR
- TABLE 27: Japan 6-Year Perspective for Blockchain in Oil & Gas by Application - Percentage Breakdown of Value Sales for Supply Chain Application, Operations Application, Trading Application and Security Application for the Years 2025 & 2030
- CHINA
- Blockchain in Oil & Gas Market Presence - Strong/Active/Niche/Trivial - Key Competitors in China for 2025 (E)
- TABLE 28: China Recent Past, Current & Future Analysis for Blockchain in Oil & Gas by Type - Public Blockchain and Private Blockchain - Independent Analysis of Annual Sales in US$ Thousand for the Years 2024 through 2030 and % CAGR
- TABLE 29: China 6-Year Perspective for Blockchain in Oil & Gas by Type - Percentage Breakdown of Value Sales for Public Blockchain and Private Blockchain for the Years 2025 & 2030
- TABLE 30: China Recent Past, Current & Future Analysis for Blockchain in Oil & Gas by Application - Supply Chain Application, Operations Application, Trading Application and Security Application - Independent Analysis of Annual Sales in US$ Thousand for the Years 2024 through 2030 and % CAGR
- TABLE 31: China 6-Year Perspective for Blockchain in Oil & Gas by Application - Percentage Breakdown of Value Sales for Supply Chain Application, Operations Application, Trading Application and Security Application for the Years 2025 & 2030
- EUROPE
- Blockchain in Oil & Gas Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Europe for 2025 (E)
- TABLE 32: Europe Recent Past, Current & Future Analysis for Blockchain in Oil & Gas by Geographic Region - France, Germany, Italy, UK and Rest of Europe Markets - Independent Analysis of Annual Sales in US$ Thousand for Years 2024 through 2030 and % CAGR
- TABLE 33: Europe 6-Year Perspective for Blockchain in Oil & Gas by Geographic Region - Percentage Breakdown of Value Sales for France, Germany, Italy, UK and Rest of Europe Markets for Years 2025 & 2030
- TABLE 34: Europe Recent Past, Current & Future Analysis for Blockchain in Oil & Gas by Type - Public Blockchain and Private Blockchain - Independent Analysis of Annual Sales in US$ Thousand for the Years 2024 through 2030 and % CAGR
- TABLE 35: Europe 6-Year Perspective for Blockchain in Oil & Gas by Type - Percentage Breakdown of Value Sales for Public Blockchain and Private Blockchain for the Years 2025 & 2030
- TABLE 36: Europe Recent Past, Current & Future Analysis for Blockchain in Oil & Gas by Application - Supply Chain Application, Operations Application, Trading Application and Security Application - Independent Analysis of Annual Sales in US$ Thousand for the Years 2024 through 2030 and % CAGR
- TABLE 37: Europe 6-Year Perspective for Blockchain in Oil & Gas by Application - Percentage Breakdown of Value Sales for Supply Chain Application, Operations Application, Trading Application and Security Application for the Years 2025 & 2030
- FRANCE
- Blockchain in Oil & Gas Market Presence - Strong/Active/Niche/Trivial - Key Competitors in France for 2025 (E)
- TABLE 38: France Recent Past, Current & Future Analysis for Blockchain in Oil & Gas by Type - Public Blockchain and Private Blockchain - Independent Analysis of Annual Sales in US$ Thousand for the Years 2024 through 2030 and % CAGR
- TABLE 39: France 6-Year Perspective for Blockchain in Oil & Gas by Type - Percentage Breakdown of Value Sales for Public Blockchain and Private Blockchain for the Years 2025 & 2030
- TABLE 40: France Recent Past, Current & Future Analysis for Blockchain in Oil & Gas by Application - Supply Chain Application, Operations Application, Trading Application and Security Application - Independent Analysis of Annual Sales in US$ Thousand for the Years 2024 through 2030 and % CAGR
- TABLE 41: France 6-Year Perspective for Blockchain in Oil & Gas by Application - Percentage Breakdown of Value Sales for Supply Chain Application, Operations Application, Trading Application and Security Application for the Years 2025 & 2030
- GERMANY
- Blockchain in Oil & Gas Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Germany for 2025 (E)
- TABLE 42: Germany Recent Past, Current & Future Analysis for Blockchain in Oil & Gas by Type - Public Blockchain and Private Blockchain - Independent Analysis of Annual Sales in US$ Thousand for the Years 2024 through 2030 and % CAGR
- TABLE 43: Germany 6-Year Perspective for Blockchain in Oil & Gas by Type - Percentage Breakdown of Value Sales for Public Blockchain and Private Blockchain for the Years 2025 & 2030
- TABLE 44: Germany Recent Past, Current & Future Analysis for Blockchain in Oil & Gas by Application - Supply Chain Application, Operations Application, Trading Application and Security Application - Independent Analysis of Annual Sales in US$ Thousand for the Years 2024 through 2030 and % CAGR
- TABLE 45: Germany 6-Year Perspective for Blockchain in Oil & Gas by Application - Percentage Breakdown of Value Sales for Supply Chain Application, Operations Application, Trading Application and Security Application for the Years 2025 & 2030
- ITALY
- TABLE 46: Italy Recent Past, Current & Future Analysis for Blockchain in Oil & Gas by Type - Public Blockchain and Private Blockchain - Independent Analysis of Annual Sales in US$ Thousand for the Years 2024 through 2030 and % CAGR
- TABLE 47: Italy 6-Year Perspective for Blockchain in Oil & Gas by Type - Percentage Breakdown of Value Sales for Public Blockchain and Private Blockchain for the Years 2025 & 2030
- TABLE 48: Italy Recent Past, Current & Future Analysis for Blockchain in Oil & Gas by Application - Supply Chain Application, Operations Application, Trading Application and Security Application - Independent Analysis of Annual Sales in US$ Thousand for the Years 2024 through 2030 and % CAGR
- TABLE 49: Italy 6-Year Perspective for Blockchain in Oil & Gas by Application - Percentage Breakdown of Value Sales for Supply Chain Application, Operations Application, Trading Application and Security Application for the Years 2025 & 2030
- UNITED KINGDOM
- Blockchain in Oil & Gas Market Presence - Strong/Active/Niche/Trivial - Key Competitors in the United Kingdom for 2025 (E)
- TABLE 50: UK Recent Past, Current & Future Analysis for Blockchain in Oil & Gas by Type - Public Blockchain and Private Blockchain - Independent Analysis of Annual Sales in US$ Thousand for the Years 2024 through 2030 and % CAGR
- TABLE 51: UK 6-Year Perspective for Blockchain in Oil & Gas by Type - Percentage Breakdown of Value Sales for Public Blockchain and Private Blockchain for the Years 2025 & 2030
- TABLE 52: UK Recent Past, Current & Future Analysis for Blockchain in Oil & Gas by Application - Supply Chain Application, Operations Application, Trading Application and Security Application - Independent Analysis of Annual Sales in US$ Thousand for the Years 2024 through 2030 and % CAGR
- TABLE 53: UK 6-Year Perspective for Blockchain in Oil & Gas by Application - Percentage Breakdown of Value Sales for Supply Chain Application, Operations Application, Trading Application and Security Application for the Years 2025 & 2030
- REST OF EUROPE
- TABLE 54: Rest of Europe Recent Past, Current & Future Analysis for Blockchain in Oil & Gas by Type - Public Blockchain and Private Blockchain - Independent Analysis of Annual Sales in US$ Thousand for the Years 2024 through 2030 and % CAGR
- TABLE 55: Rest of Europe 6-Year Perspective for Blockchain in Oil & Gas by Type - Percentage Breakdown of Value Sales for Public Blockchain and Private Blockchain for the Years 2025 & 2030
- TABLE 56: Rest of Europe Recent Past, Current & Future Analysis for Blockchain in Oil & Gas by Application - Supply Chain Application, Operations Application, Trading Application and Security Application - Independent Analysis of Annual Sales in US$ Thousand for the Years 2024 through 2030 and % CAGR
- TABLE 57: Rest of Europe 6-Year Perspective for Blockchain in Oil & Gas by Application - Percentage Breakdown of Value Sales for Supply Chain Application, Operations Application, Trading Application and Security Application for the Years 2025 & 2030
- ASIA-PACIFIC
- Blockchain in Oil & Gas Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Asia-Pacific for 2025 (E)
- TABLE 58: Asia-Pacific Recent Past, Current & Future Analysis for Blockchain in Oil & Gas by Type - Public Blockchain and Private Blockchain - Independent Analysis of Annual Sales in US$ Thousand for the Years 2024 through 2030 and % CAGR
- TABLE 59: Asia-Pacific 6-Year Perspective for Blockchain in Oil & Gas by Type - Percentage Breakdown of Value Sales for Public Blockchain and Private Blockchain for the Years 2025 & 2030
- TABLE 60: Asia-Pacific Recent Past, Current & Future Analysis for Blockchain in Oil & Gas by Application - Supply Chain Application, Operations Application, Trading Application and Security Application - Independent Analysis of Annual Sales in US$ Thousand for the Years 2024 through 2030 and % CAGR
- TABLE 61: Asia-Pacific 6-Year Perspective for Blockchain in Oil & Gas by Application - Percentage Breakdown of Value Sales for Supply Chain Application, Operations Application, Trading Application and Security Application for the Years 2025 & 2030
- REST OF WORLD
- TABLE 62: Rest of World Recent Past, Current & Future Analysis for Blockchain in Oil & Gas by Type - Public Blockchain and Private Blockchain - Independent Analysis of Annual Sales in US$ Thousand for the Years 2024 through 2030 and % CAGR
- TABLE 63: Rest of World 6-Year Perspective for Blockchain in Oil & Gas by Type - Percentage Breakdown of Value Sales for Public Blockchain and Private Blockchain for the Years 2025 & 2030
- TABLE 64: Rest of World Recent Past, Current & Future Analysis for Blockchain in Oil & Gas by Application - Supply Chain Application, Operations Application, Trading Application and Security Application - Independent Analysis of Annual Sales in US$ Thousand for the Years 2024 through 2030 and % CAGR
- TABLE 65: Rest of World 6-Year Perspective for Blockchain in Oil & Gas by Application - Percentage Breakdown of Value Sales for Supply Chain Application, Operations Application, Trading Application and Security Application for the Years 2025 & 2030
IV. COMPETITION
