Market Size of US Oil And Gas Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | > 4.00 % |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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US Oil & Gas Market Analysis
The United States oil and gas market is expected to register a CAGR of more than 4% during the forecast period.
In 2020, COVID-19 had a detrimental effect on the market. Presently, the market has reached pre-pandemic levels.
- Over the medium term, factors such as a reduction in the cost of drilling, new drilling and production technologies, and increasing oil prices are likely to drive the market.
- On the other hand, the high volatility of crude oil, coupled with the significant capital and operating expenses required to operate and increasing investments in the renewable sector, may restrain the market.
- Nevertheless, increasing activities and oil production from the Permian Basin in the United States may create many opportunities for the United States oil and gas market.
