Market Size of United States Oil And Gas Downstream Industry
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2020 - 2022 |
| CAGR | > 0.92 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
US Downstream Oil and Gas Market Analysis
The United States oil and gas downstream market is expected to register a CAGR of 0.92% during the forecast period.
The market was negatively impacted by COVID-19 in 2020. However, it has now reached pre-pandemic levels.
- Over the medium term, factors such as abundant feedstock availability from the shale gas deposits, robust pipeline, storage facilities, extensive rail infrastructure, and oil companies moving ahead with billions of dollars in investments to upgrade the existing refining capacity are likely to drive the US oil and gas downstream market during the forecast period.
- On the other hand, the sanctions on Venezuela are expected to decrease the availability of cheap crude and, thereby, decrease the interest of the operators of complex refineries in the country for further investment. This is expected to restrain the market during the forecast period.
- Nevertheless, according to the International Energy Agency, in Clean Technology Scenario, 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.
