United States Oil and Gas Market, By Product Type (Crude Oil, Natural Gas, Refined Petroleum Products, Liquefied Natural Gas (LNG)); By Drilling Type (Offshore, Onshore); By Sector (Upstream, Downstream, Midstream); By Application (Residential, Commercial, Industrial), Trend Analysis, Competitive Landscape & Forecast, 2019–2030
United States Oil and Gas Market Expands at Steady CAGR to Surpass USD 325 Billion by 2030
United States Oil and Gas Market is thriving due to an increasingly high demand for energy and power, shale gas exploration, an increasing demand for enhanced oil recovery, and advancements in drilling technologies.
BlueWeave Consulting, a leading strategic consulting and market research firm, in its recent study, estimated United States Oil and Gas Market size by value at USD 244.4 billion in 2023. During the forecast period between 2024 and 2030, BlueWeave expects United States Oil and Gas Market size to expand at a CAGR of 4% reaching a value of USD 325.5 billion by 2030. United States Oil and Gas Market is driven by a spurring demand for energy and power for various industry activities, increasing shale gas exploration and production activities, a growing demand for enhanced oil recovery (EOR) techniques, and the need for efficient drilling and production processes.
Opportunity – Adoption of Specialized Chemicals to Mitigate Environmental Risks
The implementation of stringent environmental regulations is significantly influencing the growth of United States Oil and Gas Market. Strict regulations demand advanced chemical solutions to mitigate environmental risks, enhance operational efficiency, and ensure compliance. For example, eco-friendly fracturing fluids and corrosion inhibitors are increasingly utilized to reduce the environmental footprint and support sustainable drilling practices. The regulatory push is fostering innovations and driving the adoption of specialized chemicals across the oil and gas value chain.
Impact of Escalating Geopolitical Tensions on United States Oil and Gas Market
Escalating geopolitical tensions significantly impact United States Oil and Gas Market by disrupting supply chains, influencing crude oil prices, and altering trade dynamics. Economic, politicla, and trade tensions often lead to price volatility, affecting the cost and availability of key raw materials like specialty and solvents. Additionally, heightened security concerns and trade restrictions may reduce imports, pushing domestic production. Such uncertainties also drive an increasing demand for advanced oilfield to optimize extraction and production amid fluctuating global market conditions.
Upstream Sector Leads United States Oil and Gas Market
The upstream segment, encompassing exploration and production, holds the largest share of United States Oil and Gas Market by sector. The segment’s leadership position stems from the high volume of exploration activities, the critical role of specializing in hydraulic fracturing, and the adoption of enhanced oil recovery methods. Essential such as drilling fluids, corrosion inhibitors, and biocides are extensively used to optimize processes and address operational challenges.
Competitive Landscape
United States Oil and Gas Market is fiercely competitive, with numerous companies vying for a larger market share. Major companies in the market include Shell PLC, Chevron Corporation, ExxonMobil Corporation, EOG Resources, Phillips 66, Occidental Petroleum, BP PLC, Hess Corporation, Marathon Petroleum Corporation, Valero Energy, and Total Energies SE. These companies use various strategies, including increasing investments in their R&D activities, mergers and acquisitions, joint ventures, collaborations, licensing agreements, and new product and service releases to further strengthen their position in United States Oil and Gas Market.
The in-depth analysis of the report provides information about growth potential, upcoming trends, and statistics of United States Oil and Gas Market. It also highlights the factors driving forecasts of total market size. The report promises to provide recent technology trends in United States Oil and Gas Market and industry insights to help decision-makers make sound strategic decisions. Further, the report also analyzes the growth drivers, challenges, and competitive dynamics of the market.
- 1. Research Framework
- 1.1. Research Objective
- 1.2. Product Overview
- 1.3. Market Segmentation
- 2. Executive Summary
- 3. United States Oil and Gas Market Insights
- 3.1. Industry Value Chain Analysis
- 3.2. DROC Analysis
- 3.2.1. Growth Drivers
- 3.2.1.1. Rising energy demand
- 3.2.1.2. Energy independence policies to promote domestic oil and gas production
- 3.2.1.3. Increasing liquefied natural gas (LNG) exports and crude oil exports
- 3.2.2. Restraints
- 3.2.2.1. Public and regulatory pressure regarding greenhouse gas emissions, water contamination, and ecosystem
- 3.2.2.2. High operational costs
- 3.2.3. Opportunities
- 3.2.3.1. Growth in CCS technology
- 3.2.3.2. Adoption of IoT, AI, and advanced analytics
- 3.2.3.3. Leveraging natural gas for hydrogen production
- 3.2.4. Challenges
- 3.2.4.1. Competition from Renewables
- 3.2.4.2. Aging infrastructure in United States
- 3.3. Technological Advancements/Recent Developments
- 3.4. Regulatory Framework
- 3.5. Porter’s Five Forces 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
- 3.5.5. Intensity of Rivalry
- 4. United States Oil and Gas Market: Marketing Strategies
- 5. United States Oil and Gas Market Overview
- 5.1. Market Size & Forecast, 2019–2030
- 5.1.1. By Value (USD Billion)
- 5.2. Market Share & Forecast
- 5.2.1. By Product Type
- 5.2.1.1. Crude Oil
- 5.2.1.2. Natural Gas
- 5.2.1.3. Refined Petroleum Products
- 5.2.1.4. Liquefied Natural Gas (LNG)
- 5.2.2. By Drilling Type
- 5.2.2.1. Offshore
- 5.2.2.2. Onshore
- 5.2.3. By Sector
- 5.2.3.1. Upstream
- 5.2.3.2. Downstream
- 5.2.3.3. Midstream
- 5.2.4. By Application
- 5.2.4.1. Residential
- 5.2.4.2. Commercial
- 5.2.4.3. Industrial
- 6. Competitive Landscape
- 6.1. List of Key Players and Their Offerings
- 6.2. United States Oil and Gas Company Market Share Analysis, 2023
- 6.3. Competitive Benchmarking, By Operating Parameters
- 6.4. Key Strategic Developments (Mergers, Acquisitions, Partnerships)
- 7. Impact of Escalating Geopolitical Tensions on United States Oil and Gas Market
- 8. Company Profiles (Company Overview, Financial Matrix, Competitive Landscape, Key Personnel, Key Competitors, Contact Address, Strategic Outlook, and SWOT Analysis)
- 8.1. Shell PLC
- 8.2. Chevron Corporation
- 8.3. ExxonMobil Corporation
- 8.4. EOG Resources
- 8.5. Phillips 66
- 8.6. Occidental Petroleum
- 8.7. BP PLC
- 8.8. Hess Corporation
- 8.9. Marathon Petroleum Corporation
- 8.10. Valero Energy
- 8.11. Total Energies SE
- 8.12. Other Prominent Players
- 9. Key Strategic Recommendations
- 10. Research Methodology
- 10.1. Qualitative Research
- 10.1.1. Primary & Secondary Research
- 10.2. Quantitative Research
- 10.3. Market Breakdown & Data Triangulation
- 10.3.1. Secondary Research
- 10.3.2. Primary Research
- 10.4. Breakdown of Primary Research Respondents
- 10.5. Assumptions & Limitations
- *Financial information of non-listed companies can be provided as per availability.
- **The segmentation and the companies are subject to modifications based on in-depth secondary research for the final deliverable
- List of Figures
- Figure 1 United States Oil and Gas Segmentation
- Figure 2 United States Oil and Gas Market Value Chain Analysis
- Figure 3 Company Market Share Analysis, 2023
- Figure 4 United States Oil and Gas Market Size, By Value (USD Billion), 2019–2030
- Figure 5 United States Oil and Gas Market Share, By Product Type, By Value (USD Billion), 2019–2030
- Figure 6 United States Oil and Gas Market Share, By Drilling Type, By Value (USD Billion), 2019–2030
- Figure 7 United States Oil and Gas Market Share, By Sector, By Value (USD Billion), 2019–2030
- Figure 8 United States Oil and Gas Market Share, By Application, By Value (USD Billion), 2019–2030
- List of Tables
- Table 1 United States Oil and Gas Market Size, By Value (USD Billion), 2019–2030
- Table 2 United States Oil and Gas Market Size, By Product Type, By Value (USD Billion), 2019–2030
- Table 3 United States Oil and Gas Market Size, By Drilling Type, By Value (USD Billion), 2019–2030
- Table 4 United States Oil and Gas Market Size, By Sector, By Value (USD Billion), 2019–2030
- Table 5 United States Oil and Gas Market Size, By Application, By Value (USD Billion), 2019–2030
- Table 6 Shell PLC Company Overview
- Table 7 Shell PLC Financial Overview
- Table 8 Chevron Corporation Company Overview
- Table 9 Chevron Corporation Financial Overview
- Table 10 ExxonMobil Corporation Company Overview
- Table 11 ExxonMobil Corporation Financial Overview
- Table 12 EOG Resources Company Overview
- Table 13 EOG Resources Financial Overview
- Table 14 Phillips 66 Company Overview
- Table 15 Phillips 66 Financial Overview
- Table 16 Occidental Petroleum Company Overview
- Table 17 Occidental Petroleum Financial Overview
- Table 18 BP PLC Company Overview
- Table 19 BP PLC Financial Overview
- Table 20 Hess Corporation Company Overview
- Table 21 Hess Corporation Financial Overview
- Table 22 Marathon Petroleum Corporation Company Overview
- Table 23 Marathon Petroleum Corporation Financial Overview
- Table 24 Valero Energy Company Overview
- Table 25 Valero Energy Financial Overview
- Table 26 Total Energies SE Company Overview
- Table 27 Total Energies SE Financial Overview
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