The market is dominated by domestic suppliers, as imports account for 44.4% of total market size in 2022. B2B drives market demand, with B2B spending representing 97.2% of total demand in 2022. The US has the largest market size for extraction of crude petroleum and natural gas across the top 20 developed countries, with demand reaching USD747 billion in 2022. BP plc is the largest company in the US, generating 14.5% of the industry’s total production value in 2022. The industry is fragmented, with the top five companies generating 30.1% of total production value in 2022. The total number of companies increases in 2022, to 29,276 units. The costs of the industry increase by 25.4% in 2022, largely driven by rising B2B costs. The industry’s profitability increases and stands at 50.0% of production value in 2022, the seventh highest across the top 20 developed countries. The industry’s exports share increases in 2022 to 21.3% of total production output. With production value of USD471 billion, the US accounts for 70.9% of the North America total in 2022.
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This Euromonitor industrial report provides unique information on Extraction of Crude Petroleum and Natural Gas in the US: ISIC 11. With this industrial report, you’ll be able to explore the industry from its sources of supply to its buyers. The Extraction of Crude Petroleum and Natural Gas in the US: ISIC 11 report includes: Industry datagraphics including production data, exports, imports, cost structure, and profitability
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