Market Size of Gulf Of Mexico Oil And Gas Industry
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2020 - 2022 |
| CAGR | 2.67 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Gulf Of Mexico Oil And Gas Market Analysis
The Gulf Of Mexico oil and gas market size is expected to grow from USD 22.56 billion by the end of this year to USD 25.74 billion after five years, at a CAGR of 2.67% during the forecast period.
- Over the medium term, the GOM oil and gas market is expected to thrive in the coming years due to the high resource potential in huge oil and gas reserves and a high active rig count.
- On the other hand, the volatility of oil and gas prices globally is expected to impede market growth in the near future.
- Nevertheless, the region contains bright prospects for deepwater exploration and production, which is expected to create significant opportunities during the forecasted period.
Gulf Of Mexico Oil And Gas Industry Segmentation
The oil and gas market refers to the global industry involved in the exploration, production, refining, distribution, and marketing of petroleum products, including crude oil, natural gas, and their derived products. It encompasses various activities and sectors essential for meeting the world's energy demands. The oil and gas market is a significant component of the global economy and plays a crucial role in numerous industries, including transportation, power generation, manufacturing, and petrochemicals.
The Gulf of Mexico oil and gas market is segmented by location, operation, and geography. By location, the market is segmented into onshore and offshore. By operation, the market is segmented into upstream, midstream, and downstream. By geography, the market is segmented into GOM Federal Offshore or the United States Part, Mexico Part, and Cuba Part. The report also covers the market size and forecasts for the oil and gas market across major regions. For each segment, the market sizing and forecasts have been done based on revenue in USD.
| Location | |
| Onshore | |
| Offshore |
| Operations | |
| Upstream | |
| Downstream | |
| Midstream |
| Geography Regional Market Analysis {Market Size and Demand Forecast till 2028 (for regions only)} | |
| GOM Federal Offshore or the United States PART | |
| Mexico PART | |
| Cuba PART |
Gulf Of Mexico Oil And Gas Market Size Summary
The Gulf of Mexico oil and gas market is poised for growth over the forecast period, driven by the region's substantial oil and gas reserves and a high number of active rigs. Despite the challenges posed by global oil and gas price volatility, the market is expected to benefit from significant opportunities in deepwater exploration and production. The Gulf's extensive history of exploration and production activities, coupled with technological advancements in offshore drilling, has led to consistent growth in crude oil and natural gas production. This growth is further supported by recent discoveries and ongoing expansion activities in both shallow and deepwater areas, reinforcing the upstream segment's dominance in the market.
The United States plays a pivotal role in the Gulf of Mexico oil and gas market, leveraging its extensive coastline and established infrastructure to facilitate efficient exploration, production, and transportation activities. The region's logistical advantages and robust network of pipelines and platforms contribute to the U.S.'s market dominance. Recent developments, such as BP's commencement of production at the Argos offshore platform and Shell's approval of the Dover offshore oil field project, are expected to enhance production capabilities in the Gulf. The market remains fragmented, with key players like Chevron, Shell, BP, and ExxonMobil actively participating in exploration and production activities, further driving the market's growth trajectory.
Gulf Of Mexico Oil And Gas 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 Market Size and Demand Forecast in USD, till 2028
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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 Oil and Gas
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1.5.1.2 Presence of Proven Oil and Gas Reserves
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1.5.2 Restraints
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1.5.2.1 Volatile Oil and Gas Prices
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1.6 Supply Chain Analysis
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1.7 Porter's Five Forces Analysis
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1.7.1 Bargaining Power of Suppliers
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1.7.2 Bargaining Power of Consumers
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1.7.3 Threat of New Entrants
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1.7.4 Threat of Substitute Products and Services
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1.7.5 Intensity of Competitive Rivalry
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2. MARKET SEGMENTATION
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2.1 Location
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2.1.1 Onshore
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2.1.2 Offshore
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2.2 Operations
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2.2.1 Upstream
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2.2.2 Downstream
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2.2.3 Midstream
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2.3 Geography Regional Market Analysis {Market Size and Demand Forecast till 2028 (for regions only)}
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2.3.1 GOM Federal Offshore or the United States PART
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2.3.2 Mexico PART
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2.3.3 Cuba PART
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Gulf Of Mexico Oil And Gas Market Size FAQs
What is the current Gulf Of Mexico Oil And Gas Market size?
The Gulf Of Mexico Oil And Gas Market is projected to register a CAGR of 2.67% during the forecast period (2024-2029)
Who are the key players in Gulf Of Mexico Oil And Gas Market?
Chevron Corporation, Shell Plc., BP Plc., Exxon Mobil Corp and Delfin LNG LLC are the major companies operating in the Gulf Of Mexico Oil And Gas Market.
