Market Size of United States Oil And Gas Downstream Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Market Volume (2024) | 18.97 Million barrels per day |
| Market Volume (2029) | 19.87 Million barrels per day |
| CAGR (2024 - 2029) | 0.97 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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US Downstream Oil and Gas Market Analysis
The United States Oil And Gas Downstream Market size in terms of production capacity is expected to grow from 18.97 Million barrels per day in 2024 to 19.87 Million barrels per day by 2029, at a CAGR of 0.97% during the forecast period (2024-2029).
The United States oil and gas downstream market is expected to register a CAGR of 0.92% during the forecast period.
- Over the medium term, factors such as increasing petroleum products demand, and upcoming investment in oil refineries are likely to drive the United States oil and gas downstream market during the forecast period.
- On the other hand, adopting clean energy technology, like renewables, is expected to significantly influence the power sector, thus impacting the oil and natural gas industry in the upcoming years.
- Nevertheless, according to the International Energy Agency, petrochemicals are expected to become the only growing segment of global oil demand by 2050. Moreover, several petrochemical projects are expected to come online in the United States during the forecast period. Hence, the petrochemical sector is expected to present a huge growth opportunity for the downstream players in the country.
US Downstream Oil and Gas Industry Segmentation
The downstream sector includes processing, moving, and selling refined goods made from crude oil. Industry segments downstream include product marketing, supply and trading, and oil refining.
The US oil and gas downstream market is segmented by sector into refining and petrochemical. The report also covers the market size and forecasts for the US oil and gas downstream market. For each segment, the market sizing and forecasts have been done based on refining capacity (in a million barrels per day).
United States Oil And Gas Downstream Market Size Summary
The United States downstream oil and gas market is poised for growth, driven by factors such as abundant feedstock from shale gas deposits, robust infrastructure, and significant investments in refining capacity upgrades. Despite the challenges posed by COVID-19, the market has rebounded to pre-pandemic levels. The petrochemical sector, in particular, is expected to offer substantial growth opportunities, with several projects anticipated to come online during the forecast period. However, sanctions on Venezuela may limit the availability of cheap crude, potentially restraining investments in complex refineries. The ongoing demand for petroleum products, despite the rise of renewable energy sources, underscores the continued relevance of the petroleum industry in the United States.
The United States Gulf Coast region is expected to see a new wave of investments in the downstream sector, supported by increased shale production and growing energy demand. The refining industry is anticipated to benefit from rising industrial activity and economic growth, particularly in states like Massachusetts, Connecticut, and Minnesota. The market remains fragmented, with key players such as Marathon Petroleum Corp., Chevron Corporation, and Valero Energy Corporation actively participating. Additionally, the aviation industry's improved fuel efficiency and the rising demand for petroleum products are expected to further drive the downstream market. The United States continues to rely on imports to meet its increasing petroleum demand, while also exporting significant volumes of petroleum products.
United States Oil And Gas Downstream Market Size - Table of Contents
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1. MARKET OVERVIEW
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1.1 Introduction
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1.2 Refining Capacity and Forecast in million barrels per day, till 2029
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1.3 Recent Trends and Developments
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1.4 Government Policies and Regulations
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1.5 Market Dynamics
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1.5.1 Drivers
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1.5.1.1 Increasing Demand for Petroleum Products
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1.5.1.2 Upcoming Investment in the Refining Sector
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1.5.2 Restraints
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1.5.2.1 Adoption of Clean Energy Technology
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1.6 PESTLE Analysis
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1.7 Investment Analysis
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2. MARKET SEGMENTATION BY SECTOR
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2.1 Refining
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2.2 Petrochemical
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United States Oil And Gas Downstream Market Size FAQs
How big is the United States Oil And Gas Downstream Market?
The United States Oil And Gas Downstream Market size is expected to reach 18.97 million barrels per day in 2024 and grow at a CAGR of 0.97% to reach 19.87 million barrels per day by 2029.
What is the current United States Oil And Gas Downstream Market size?
In 2024, the United States Oil And Gas Downstream Market size is expected to reach 18.97 million barrels per day.
