Digging deep: As global oil demand recovers, industry revenue is projected to grow
Oil Drilling & Gas Extraction in the US The Oil and Gas Extraction industry has been challenged in recent years by a decline in oil and natural gas prices, and revenue contracted over the past five years due to steep price drops in 2015 and 2016. However, domestic production of oil and gas steadily increased over the five years to 2018, and industry operators positioned themselves to perform strongly as prices rise over the five years to 2023. Moving forward, the industry is also expected to increasingly hinge on improvements in drilling technology and techniques. As industry operators deplete their reserves, it will become necessary to improve efficiency and minimize waste. Over the five years to 2023, IBISWorld expects industry revenue to rebound in line with an expected increase in commodity prices.
Companies in this industry operate and develop oil and gas field properties. Activities include: the exploration and production of crude petroleum; the mining and extraction of oil from oil shale and oil sands; the exploration and production of natural gas; sulfur recovery from natural gas; and recovery of hydrocarbon liquids. Companies may operate oil and gas wells on their own account or for others on a contract or fee basis.
This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.
Our reports have been used by over 10K customers, including:
Executive Summary The Global Floating Rigs Market was valued at USD 61940.35 Million in the year 2020. The global Floating Rigs market is witnessing lucrative growth owing to stringent regulatory standards regarding environment conservation, supportive government policies on energy conservation, as well as growing consumer...
238 pages •
By Asia Market Information & Development Company
• Mar 2021
China’s demand for Oil and Gas Energy has grown at a fast pace in the past decade. In the next decade, both production and demand will continue to grow. The Chinese economy maintains a high speed growth which has been stimulated by the consecutive increases of industrial output, import & export, consumer consumption...
In-depth Analysis and Data-driven Insights on the Impact of COVID-19 Included in this Global Frequency Converter Market Report
The global frequency converter market by revenue is expected to grow at a CAGR of 5% during 2020–2026.
The market is expected to grow due to the growth in industrial production, technological advancements,...
The excitation systems market is estimated at USD 2.7 billion in 2021 and is projected to reach USD 3.4 billion by 2026, at a CAGR of 4.4% from 2021 to 2026. Rapid growth in the power sector is the key to the economic development of a country. Electricity is a key ingredient for the growth of various industries such as oil & gas, mining, utilities,...
The global variable frequency drive market is projected to reach USD 24.3 billion by 2025 from an estimated USD 19.2 billion in 2020, at a CAGR of 4.8% during the forecast period. This growth can be attributed to factors such as growing regulations towards energy efficiency, upgradation & modernization of aging infrastructure for safe & secure...
The hydrogen generation market is projected to reach USD 201 billion by 2025 from an estimated USD 130 billion in 2020, at a CAGR of 9.2% during the forecast period. Rising obligations to reduce greenhouse gas emissions from traditional methods has driven the hydrogen generation market growth. Furthermore, increased demand for long-term storage...
Utilities Global Group of Eight (G8) Industry Guide 2016-2025 Summary The G8 Utilities industry profile provides top-line qualitative and quantitative summary information including: industry size (value 2016-20, and forecast to 2025). The profile also contains descriptions of the leading players...
Utilities Global Industry Guide 2016-2025 Summary Global Utilities industry profile provides top-line qualitative and quantitative summary information including: industry size (value 2016-20, and forecast to 2025). The profile also contains descriptions of the leading players including key financial...
Top 20 Oil and Gas Themes, 2021 - Thematic Research
"Top 20 Oil and Gas Themes, 2021 - Thematic Research" report identifies the top 20 themes that would impact the oil and gas industry in 2021. For each theme, we offer a series of predictions, highlight the winners, and point you to further...
The global explosion-proof equipment market was valued at USD 8.87 billion in 2019, and is expected to reach a value of USD 12.29 billion by 2025, at a CAGR of 5.5% over 2020-2025. Increasing demand for integrated systems, progress in the automation sector, growth in industrial sectors, and stringent government regulations in handling hazardous...
Oil And Gas
Crude Oil Price
Natural Gas Production
You can change your Cookie Settings at any time but parts of our site will not function correctly without them.