United States Oil and Gas Downstream Market Introduction and Overview
According to SPER Market Research, the United States Oil and Gas Downstream Market is estimated to reach USD 2.81 trillion by 2033 with a CAGR of 2.95%.
The report includes an in-depth analysis of the United States Oil and Gas Downstream Market, including market size and trends, product mix, applications, and supplier analysis. Oil and gas downstream operations are the procedures involved in transforming oil and gas into the completed product, which includes refining crude oil into natural gas liquids, gasoline, diesel, and a number of other energy sources. Crude oil extraction is an upstream process that is followed by shipping and transportation, oil refining, supply and trade, and product marketing and retail, which are downstream processes.
- The United States announced in June 2024 that refining capacity would increase by about 1.5% to 18.38 million barrels per day (bpd) in 2023. The increase in capacity was attributable to the expansion of Exxon Mobil's Texas refinery.
- April 2023- Valero, a US independent refiner, acquired crude from Venezuela to refine, joining the list of US refineries absorbing amounts from the South American crude oil source. The Bill Greehey Refinery in Corpus Christi, Texas, processed more than 8,500 barrels per day of 10.3°API Venezuelan oil. Valero now joins the ranks of US oil companies Chevron and refiner Phillips 66, which received a combined 50,000 barrels per day.
Market Opportunities and Challenges
Opportunities: The expansion and upkeep of infrastructure are essential factors in the US oil and gas downstream business. Pipelines, terminals, refineries, and storage facilities are just a few examples of the necessary infrastructure that makes petroleum products' distribution, processing, and transportation efficient. Enhancing connectivity between production areas and end markets, expanding logistical capacities, and meeting growing demand are all made possible by investments in new developments, expansions, and upgrades of the infrastructure. The industry's resilience and competitiveness in a market landscape that is changing quickly are strengthened by strategic investments in modernising and optimising infrastructure.
Challenges: The downstream oil and gas industry is facing increasing pressures related to sustainability and environmental issues. A greater understanding of climate change and how carbon emissions relate to it has led to a closer examination of the environmental impact of the sector. There is pressure on the industry to lower its carbon footprint, improve energy efficiency, and switch to greener energy sources. But making the switch will cost a lot of money in terms of developing, testing, and implementing greener technology. Finding a balance between supplying energy needs and upholding strict environmental regulations is the difficult part. Innovation in cleaner extraction techniques, refining procedures, and distribution logistics are required to achieve this equilibrium.
Market Competitive Landscape
The US oil and gas downstream industry is semi-fragmented, with several important firms, including Marathon Petroleum Corp., Chevron Corporation, Valero Energy Corporation, Exxon Mobil Corporation, Phillips 66, and Royal Dutch Shell PLC.
Scope of the report:
| Report Metric | Details |
| Market size available for years | 2020-2033 |
| Base year considered | 2023 |
| Forecast period | 2024-2033 |
| Segments covered | By Type, By Application
|
| Regions covered | Northeast, South, Midwest, West
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| Companies Covered | ExxonMobil Corporation, Chevron Corporation, Phillips 66, Marathon Petroleum Corporation, Valero Energy Corporation, Shell Oil Company, BP America Inc, ConocoPhillips Company, Tesoro Corporation, CITGO Petroleum Corporation.
|
COVID-19 Impact on United States Oil and Gas Downstream Market
The COVID-19 epidemic has had a substantial influence on the oil and gas downstream market, as it has on many other businesses. The epidemic caused a dramatic fall in global oil demand, restricted travel, and disrupted supply systems. The industry experienced obstacles such as lower refining margins, inventory management issues, and decreasing consumer spending. However, the sector shown tenacity and adaptability by introducing cost-cutting measures, optimising operations, and seeking new market prospects.
Key Target Audience:
- Refining Companies
- Petrochemical Manufacturers
- Fuel Retailers
- Logistics & Distribution Companies
- Government Agencies & Regulators
- Energy Trading Companies
- Industrial Consumers
- Utilities and Power Generation Companies
- Oilfield Services Companies
Our in-depth analysis of the United States Oil and Gas Downstream Market includes the following segments:
| By Type: | RefineriesPetrochemical plants |
| By Application: | DomesticInternational |
Key Topics Covered in the Report:
- United States Oil and Gas Downstream Market Size (FY’2024-FY’2033)
- Overview of United States Oil and Gas Downstream Market
- Segmentation of United States Oil and Gas Downstream Market By Type (Refineries, Petrochemical plants)
- Segmentation of United States Oil and Gas Downstream Market By Application (Domestic, International)
- Statistical Snap of United States Oil and Gas Downstream Market
- Expansion Analysis of United States Oil and Gas Downstream Market
- Problems and Obstacles in United States Oil and Gas Downstream Market
- Competitive Landscape in the United States Oil and Gas Downstream Market
- Impact of COVID-19 and Demonetization on United States Oil and Gas Downstream Market
- Details on Current Investment in United States Oil and Gas Downstream Market
- Competitive Analysis of United States Oil and Gas Downstream Market
- Prominent Players in the United States Oil and Gas Downstream Market
- SWOT Analysis of United States Oil and Gas Downstream Market
- United States Oil and Gas Downstream Market Future Outlook and Projections (FY’2024-FY’2033)
- Recommendations from Analyst
1. Introduction
1.1. Scope of the report
1.2. Market segment analysis
2. Research Methodology
2.1. Research data source
2.1.1. Secondary Data
2.1.2. Primary Data
2.1.3. SPER’s internal database
2.1.4. Premium insight from KOL’s
2.2. Market size estimation
2.2.1. Top-down and Bottom-up approach
2.3. Data triangulation
3. Executive Summary
4. Market Dynamics
4.1. Driver, Restraint, Opportunity and Challenges analysis
4.1.1. Drivers
4.1.2. Restraints
4.1.3. Opportunities
4.1.4. Challenges
4.2. COVID-19 Impacts of the United States Oil and Gas Downstream Market.
5. Market variable and outlook
5.1. SWOT Analysis
5.1.1. Strengths
5.1.2. Weaknesses
5.1.3. Opportunities
5.1.4. Threats
5.2. PESTEL Analysis
5.2.1. Political Landscape
5.2.2. Economic Landscape
5.2.3. Social Landscape
5.2.4. Technological Landscape
5.2.5. Environmental Landscape
5.2.6. Legal Landscape
5.3. PORTER’s Five Forces
5.3.1. Bargaining power of suppliers
5.3.2. Bargaining power of buyers
5.3.3. Threat of Substitute
5.3.4. Threat of new entrant
5.3.5. Competitive rivalry
5.4. Heat Map Analysis
6. Competitive Landscape
6.1. United States Oil and Gas Downstream Market Manufacturing Base Distribution, Sales Area, Product Type
6.2. Mergers & Acquisitions, Partnerships, Product Launch, and Collaboration in United States Oil and Gas Downstream Market
7. United States Oil and Gas Downstream Market, By Type (USD Million) 2020-2033
7.1. United States Oil and Gas Downstream Market Size, Share and Forecast, By Type, 2020-2026
7.2. United States Oil and Gas Downstream Market Size, Share and Forecast, By Type, 2027-2033
7.3. Refineries
7.4. Petrochemical plants
8. United States Oil and Gas Downstream Market, By Application USD Million) 2020-2033
8.1. United States Oil and Gas Downstream Market Size, Share and Forecast, By Application, 2020-2026
8.2. United States Oil and Gas Downstream Market Size, Share and Forecast, By Application, 2027-2033
8.3. Domestic
8.4. International
9. United States Oil and Gas Downstream Market Forecast, 2020-2033 (USD Million)
9.1. United States Oil and Gas Downstream Market Size and Market Share
10. United States Oil and Gas Downstream Market, By Region, 2020-2033 (USD Million)
10.1. United States Oil and Gas Downstream Market Size and Market Share By Region (2020-2026)
10.2. United States Oil and Gas Downstream Market Size and Market Share By Region (2027-2033)
10.3. Northeast
10.4. South
10.5. Midwest
10.6. West
11. Company Profile
11.1. ExxonMobil Corporation
11.1.1. Company details
11.1.2. Financial outlook
11.1.3. Product summary
11.1.4. Recent developments
11.2. Chevron Corporation
11.2.1. Company details
11.2.2. Financial outlook
11.2.3. Product summary
11.2.4. Recent developments
11.3. Phillips 66
11.3.1. Company details
11.3.2. Financial outlook
11.3.3. Product summary
11.3.4. Recent developments
11.4. Marathon Petroleum Corporation
11.4.1. Company details
11.4.2. Financial outlook
11.4.3. Product summary
11.4.4. Recent developments
11.5. Valero Energy Corporation
11.5.1. Company details
11.5.2. Financial outlook
11.5.3. Product summary
11.5.4. Recent developments
11.6. Shell Oil Company
11.6.1. Company details
11.6.2. Financial outlook
11.6.3. Product summary
11.6.4. Recent developments
11.7. BP America Inc
11.7.1. Company details
11.7.2. Financial outlook
11.7.3. Product summary
11.7.4. Recent developments
11.8. ConocoPhillips Company
11.8.1. Company details
11.8.2. Financial outlook
11.8.3. Product summary
11.8.4. Recent developments
11.9. Tesoro Corporation
11.9.1. Company details
11.9.2. Financial outlook
11.9.3. Product summary
11.9.4. Recent developments
11.10. CITGO Petroleum Corporation
11.10.1. Company details
11.10.2. Financial outlook
11.10.3. Product summary
11.10.4. Recent developments
11.11. Others
12. Conclusion
13. List of Abbreviations
14. Reference Links