Report Code : CVMI24071670 | Published Date : July 16, 2024
The Oil & Gas Upstream Market is experiencing robust growth, driven by increasing global energy demand, heightened exploration activities, and advancements in drilling and extraction technologies. The market was valued at USD XX billion in 2019 and grew to USD XX billion in 2023. It is projected to expand at a CAGR of XX% from 2024 to 2031, reaching USD XX billion by 2031
Key Market Insights
The upstream sector focuses on the exploration, drilling, and production of crude oil and natural gas. Technological innovations in enhanced oil recovery (EOR), deepwater exploration, and digital oilfield solutions are driving efficiency and production capacity.
Growth Drivers
- Growing Oil and Gas Demand Amid Rising Global Energy Needs – Nations are investing in oilfield development and alternative energy sources sources.
- Advancements in Drilling and Extraction Technologies – The emergence of hydraulic fracturing, horizontal drilling, and AI-driven reservoir monitoring is optimizing production.
- Exploration of Unconventional Reserves (Shale & Deepwater) – Expanding drilling activities in offshore, shale gas, and Arctic exploration are driving industry growth expansion.
- Government Policies and Investments in Oil and Gas Infrastructure – National oil companies (NOCs) and private firms are enhancing energy security and upstream operations investments.
Regional Trends
- North America is at the forefront due to the shale oil boom and technological advancements fracking.
- The Middle East and Africa are experiencing growth through large-scale oilfield projects and investments offshore reserves.
- The Asia-Pacific region is experiencing growth, fueled by increasing oil and gas imports and investment in deepwater exploration fields.
- Latin America is gaining from the rise in offshore exploration and government-supported energy reforms.
Conclusion
The Oil & Gas Upstream Market is poised for consistent growth, fueled by increasing exploration investments, advancements in drilling technology, and surging global energy demands. Firms focusing on AI-driven reservoir management, deepwater exploration, and sophisticated well stimulation techniques will lead this developing sector.
Reasons To Buy

Scope

Key Players
- Exxon Mobil Corporation
- Chevron Corporation
- Royal Dutch Shell plc
- BP plc
- TotalEnergies SE
Global Oil & Gas Upstream Market Report
- 1. Global Oil & Gas Upstream Market Research Report
- 1.1 Study Objectives
- 1.2 Global Oil & Gas Upstream Market - Overview
- 1.3 Reason to Read This Report
- 1.4 Methodology and Forecast Analysis
- 2.1 Global Oil & Gas Upstream Market Research Report – Detailed Scope and Definitions
- 2.1.1 By Type
- 2.1.2 By Application
- 2.1.3 By Service
- 2.1.4 By Resource Type
- 2.1.5 By Region
- 3.1. Drivers - Macro-Economic Based, Supply Side, and Demand Side Drivers
- 3.2. Restraints – By Type, By Application, By Service, By Resource Type, By Country
- 3.3. Opportunities – By Type, By Application, By Service, By Resource Type, By Country
- 3.4. Trends – By Type, By Application, By Service, By Resource Type, By Country
- 3.5. PEST Analysis
- 3.6. Porters Five Rule Analysis
- 3.7. Company’s Share Analysis (CSA) by Region or By Country
- 3.8. Global Oil & Gas Upstream Market Research Report – DROTs Impact Analysis
- 4.1. Market Performance Review & Future Outlook: Assessing 2019 - 2023 and Predicting 2024 - 2031 Trends (USD Millions)
- 4.2. Annual Market Trend Assessment – Year-on-Year (YoY) Growth Analysis (%)
- 4.3. Incremental Market Value/Volume Opportunity between 2019 - 2023 and 2024 - 2031
- 4.4. Market Shares Analysis in Years - 2019, 2023, 2024 and 2031
- 5.1 Exploration
- 5.1.1 Market Performance Review & Future Outlook: Assessing 2019 - 2023 and Predicting 2024 - 2031 Trends (USD Millions)
- 5.1.2 Annual Market Trend Assessment – Yearly Growth Observation (Y-O-Y)(%)
- 5.1.3 Incremental Market Value/Volume Opportunity between 2019 - 2023 and From 2024 to 2031
- 5.1.4 Market Shares Analysis in Years - 2019, 2023, 2024 and 2031
- 5.2 Drilling
- 5.2.1 Market Performance Review & Future Outlook: Assessing 2019 - 2023 and Predicting 2024 - 2031 Trends (USD Millions)
- 5.2.2 Annual Market Trend Assessment – Yearly Growth Observation (Y-O-Y)(%)
- 5.2.3 Incremental Market Value/Volume Opportunity between 2019 - 2023 and From 2024 to 2031
- 5.2.4 Market Shares Analysis in Years - 2019, 2023, 2024 and 2031
- 5.3 Production
- 5.3.1 Market Performance Review & Future Outlook: Assessing 2019 - 2023 and Predicting 2024 - 2031 Trends (USD Millions)
- 5.3.2 Annual Market Trend Assessment – Yearly Growth Observation (Y-O-Y)(%)
- 5.3.3 Incremental Market Value/Volume Opportunity between 2019 - 2023 and From 2024 to 2031
- 5.3.4 Market Shares Analysis in Years - 2019, 2023, 2024 and 2031
- 6.1 Onshore
- 6.1.1 Market Performance Review & Future Outlook: Assessing 2019 - 2023 and Predicting 2024 - 2031 Trends (USD Millions)
- 6.1.2 Annual Market Trend Assessment – Yearly Growth Observation (Y-O-Y)(%)
- 6.1.3 Incremental Market Value/Volume Opportunity between 2019 - 2023 and From 2024 to 2031
- 6.1.4 Market Shares Analysis in Years - 2019, 2023, 2024 and 2031
- 6.2 Offshore
- 6.2.1 Market Performance Review & Future Outlook: Assessing 2019 - 2023 and Predicting 2024 - 2031 Trends (USD Millions)
- 6.2.2 Annual Market Trend Assessment – Yearly Growth Observation (Y-O-Y)(%)
- 6.2.3 Incremental Market Value/Volume Opportunity between 2019 - 2023 and From 2024 to 2031
- 6.2.4 Market Shares Analysis in Years - 2019, 2023, 2024 and 2031
- 7.1 Geological and Geophysical Services
- 7.1.1 Market Performance Review & Future Outlook: Assessing 2019 - 2023 and Predicting 2024 - 2031 Trends (USD Millions)
- 7.1.2 Annual Market Trend Assessment – Yearly Growth Observation (Y-O-Y)(%)
- 7.1.3 Incremental Market Value/Volume Opportunity between 2019 - 2023 and From 2024 to 2031
- 7.1.4 Market Shares Analysis in Years - 2019, 2023, 2024 and 2031
- 7.2 Drilling Services
- 7.2.1 Market Performance Review & Future Outlook: Assessing 2019 - 2023 and Predicting 2024 - 2031 Trends (USD Millions)
- 7.2.2 Annual Market Trend Assessment – Yearly Growth Observation (Y-O-Y)(%)
- 7.2.3 Incremental Market Value/Volume Opportunity between 2019 - 2023 and From 2024 to 2031
- 7.2.4 Market Shares Analysis in Years - 2019, 2023, 2024 and 2031
- 7.3 Completion Services
- 7.3.1 Market Performance Review & Future Outlook: Assessing 2019 - 2023 and Predicting 2024 - 2031 Trends (USD Millions)
- 7.3.2 Annual Market Trend Assessment – Yearly Growth Observation (Y-O-Y)(%)
- 7.3.3 Incremental Market Value/Volume Opportunity between 2019 - 2023 and From 2024 to 2031
- 7.3.4 Market Shares Analysis in Years - 2019, 2023, 2024 and 2031
- 7.4 Production Services
- 7.4.1 Market Performance Review & Future Outlook: Assessing 2019 - 2023 and Predicting 2024 - 2031 Trends (USD Millions)
- 7.4.2 Annual Market Trend Assessment – Yearly Growth Observation (Y-O-Y)(%)
- 7.4.3 Incremental Market Value/Volume Opportunity between 2019 - 2023 and From 2024 to 2031
- 7.4.4 Market Shares Analysis in Years - 2019, 2023, 2024 and 2031
- 8.1 Conventional
- 8.1.1 Market Performance Review & Future Outlook: Assessing 2019 - 2023 and Predicting 2024 - 2031 Trends (USD Millions)
- 8.1.2 Annual Market Trend Assessment – Yearly Growth Observation (Y-O-Y)(%)
- 8.1.3 Incremental Market Value/Volume Opportunity between 2019 - 2023 and From 2024 to 2031
- 8.1.4 Market Shares Analysis in Years - 2019, 2023, 2024 and 2031
- 8.2 Unconventional (Shale
- 8.2.1 Market Performance Review & Future Outlook: Assessing 2019 - 2023 and Predicting 2024 - 2031 Trends (USD Millions)
- 8.2.2 Annual Market Trend Assessment – Yearly Growth Observation (Y-O-Y)(%)
- 8.2.3 Incremental Market Value/Volume Opportunity between 2019 - 2023 and From 2024 to 2031
- 8.2.4 Market Shares Analysis in Years - 2019, 2023, 2024 and 2031
- 8.3 Tight Gas
- 8.3.1 Market Performance Review & Future Outlook: Assessing 2019 - 2023 and Predicting 2024 - 2031 Trends (USD Millions)
- 8.3.2 Annual Market Trend Assessment – Yearly Growth Observation (Y-O-Y)(%)
- 8.3.3 Incremental Market Value/Volume Opportunity between 2019 - 2023 and From 2024 to 2031
- 8.3.4 Market Shares Analysis in Years - 2019, 2023, 2024 and 2031
- 8.4 Coalbed Methane)
- 8.4.1 Market Performance Review & Future Outlook: Assessing 2019 - 2023 and Predicting 2024 - 2031 Trends (USD Millions)
- 8.4.2 Annual Market Trend Assessment – Yearly Growth Observation (Y-O-Y)(%)
- 8.4.3 Incremental Market Value/Volume Opportunity between 2019 - 2023 and From 2024 to 2031
- 8.4.4 Market Shares Analysis in Years - 2019, 2023, 2024 and 2031
- 9.1 North America
- 9.1.1 Market Performance Review & Future Outlook: Assessing 2019 - 2023 and Predicting 2024 - 2031 Trends (USD Millions)
- 9.1.2 Annual Market Trend Assessment – Yearly Growth Observation (Y-O-Y)(%)
- 9.1.3 Incremental Market Value/Volume Opportunity between 2019 - 2023 and From 2024 to 2031
- 9.1.4 Market Shares Analysis in Years - 2019, 2023, 2024 and 2031
- 9.2 Europe
- 9.2.1 Market Performance Review & Future Outlook: Assessing 2019 - 2023 and Predicting 2024 - 2031 Trends (USD Millions)
- 9.2.2 Annual Market Trend Assessment – Yearly Growth Observation (Y-O-Y)(%)
- 9.2.3 Incremental Market Value/Volume Opportunity between 2019 - 2023 and From 2024 to 2031
- 9.2.4 Market Shares Analysis in Years - 2019, 2023, 2024 and 2031
- 9.3 Asia-Pacific
- 9.3.1 Market Performance Review & Future Outlook: Assessing 2019 - 2023 and Predicting 2024 - 2031 Trends (USD Millions)
- 9.3.2 Annual Market Trend Assessment – Yearly Growth Observation (Y-O-Y)(%)
- 9.3.3 Incremental Market Value/Volume Opportunity between 2019 - 2023 and From 2024 to 2031
- 9.3.4 Market Shares Analysis in Years - 2019, 2023, 2024 and 2031
- 9.4 Latin America
- 9.4.1 Market Performance Review & Future Outlook: Assessing 2019 - 2023 and Predicting 2024 - 2031 Trends (USD Millions)
- 9.4.2 Annual Market Trend Assessment – Yearly Growth Observation (Y-O-Y)(%)
- 9.4.3 Incremental Market Value/Volume Opportunity between 2019 - 2023 and From 2024 to 2031
- 9.4.4 Market Shares Analysis in Years - 2019, 2023, 2024 and 2031
- 9.5 Middle East & Africa
- 9.5.1 Market Performance Review & Future Outlook: Assessing 2019 - 2023 and Predicting 2024 - 2031 Trends (USD Millions)
- 9.5.2 Annual Market Trend Assessment – Yearly Growth Observation (Y-O-Y)(%)
- 9.5.3 Incremental Market Value/Volume Opportunity between 2019 - 2023 and From 2024 to 2031
- 9.5.4 Market Shares Analysis in Years - 2019, 2023, 2024 and 2031
- 9.6 Global Oil & Gas Upstream Market - Opportunity Analysis Index, By Type, By Application, By Service, By Resource Type, and Region, 2024 - 2031
- 10.1 By Type Analysis 2019 - 2023 and Forecast, 2024 - 2031 by Market Assessment (USD Mn), Yearly Growth Rate (%), and Market Presence (%)
- 10.1.1 Exploration
- 10.1.2 Drilling
- 10.1.3 Production
- 10.2.1 Onshore
- 10.2.2 Offshore
- 10.3.1 Geological and Geophysical Services
- 10.3.2 Drilling Services
- 10.3.3 Completion Services
- 10.3.4 Production Services
- 10.4.1 Conventional
- 10.4.2 Unconventional (Shale
- 10.4.3 Tight Gas
- 10.4.4 Coalbed Methane)
- 10.5.1 United States
- 10.5.2 Canada
10.7 Regional Trends Analysis
10.8 North America Global Oil & Gas Upstream Market Research Report - Company Profiles- 10.8.1 Company 1 (United States)
- 10.8.2 Company 2 (Canada)
- 10.8.3 Company 3 (Canada)
- 11.1 By Type Analysis 2019 - 2023 and Forecast, 2024 - 2031 by Market Assessment (USD Mn), Yearly Growth Rate (%), and Market Presence (%)
- 11.1.1 Exploration
- 11.1.2 Drilling
- 11.1.3 Production
- 11.2.1 Onshore
- 11.2.2 Offshore
- 11.3.1 Geological and Geophysical Services
- 11.3.2 Drilling Services
- 11.3.3 Completion Services
- 11.3.4 Production Services
- 11.4.1 Conventional
- 11.4.2 Unconventional (Shale
- 11.4.3 Tight Gas
- 11.4.4 Coalbed Methane)
- 11.5.1 Germany
- 11.5.2 United Kingdom
- 11.5.3 France
- 11.5.4 Spain
- 11.5.5 Italy
- 11.5.6 Russia
- 11.5.7 Netherlands
- 11.5.8 Poland
- 11.5.9 Rest of Europe
11.7 Regional Trends Analysis
11.8 Europe Global Oil & Gas Upstream Market Research Report - Company Profiles- 11.8.1 Company 1 (Germany)
- 11.8.2 Company 2 (United Kingdom)
- 11.8.3 Company 3 (United Kingdom)
- 12.1 By Type Analysis 2019 - 2023 and Forecast, 2024 - 2031 by Market Assessment (USD Mn), Yearly Growth Rate (%), and Market Presence (%)
- 12.1.1 Exploration
- 12.1.2 Drilling
- 12.1.3 Production
- 12.2.1 Onshore
- 12.2.2 Offshore
- 12.3.1 Geological and Geophysical Services
- 12.3.2 Drilling Services
- 12.3.3 Completion Services
- 12.3.4 Production Services
- 12.4.1 Conventional
- 12.4.2 Unconventional (Shale
- 12.4.3 Tight Gas
- 12.4.4 Coalbed Methane)
- 12.5.1 China
- 12.5.2 Japan
- 12.5.3 India
- 12.5.4 South Korea
- 12.5.5 Australia & NZ
- 12.5.6 ASEAN
- 12.5.7 Rest of Asia-Pacific
12.7 Regional Trends Analysis
12.8 Asia-Pacific Global Oil & Gas Upstream Market Research Report - Company Profiles- 12.8.1 Company 1 (China)
- 12.8.2 Company 2 (Japan)
- 12.8.3 Company 3 (Japan)
- 13.1 By Type Analysis 2019 - 2023 and Forecast, 2024 - 2031 by Market Assessment (USD Mn), Yearly Growth Rate (%), and Market Presence (%)
- 13.1.1 Exploration
- 13.1.2 Drilling
- 13.1.3 Production
- 13.2.1 Onshore
- 13.2.2 Offshore
- 13.3.1 Geological and Geophysical Services
- 13.3.2 Drilling Services
- 13.3.3 Completion Services
- 13.3.4 Production Services
- 13.4.1 Conventional
- 13.4.2 Unconventional (Shale
- 13.4.3 Tight Gas
- 13.4.4 Coalbed Methane)
- 13.5.1 Brazil
- 13.5.2 Mexico
- 13.5.3 Argentina
- 13.5.4 Peru
- 13.5.5 Colombia
- 13.5.6 Rest of Latin America
13.7 Regional Trends Analysis
13.8 Latin America Global Oil & Gas Upstream Market Research Report - Company Profiles- 13.8.1 Company 1 (Brazil)
- 13.8.2 Company 2 (Mexico)
- 13.8.3 Company 3 (Mexico)
- 14.1 By Type Analysis 2019 - 2023 and Forecast, 2024 - 2031 by Market Assessment (USD Mn), Yearly Growth Rate (%), and Market Presence (%)
- 14.1.1 Exploration
- 14.1.2 Drilling
- 14.1.3 Production
- 14.2.1 Onshore
- 14.2.2 Offshore
- 14.3.1 Geological and Geophysical Services
- 14.3.2 Drilling Services
- 14.3.3 Completion Services
- 14.3.4 Production Services
- 14.4.1 Conventional
- 14.4.2 Unconventional (Shale
- 14.4.3 Tight Gas
- 14.4.4 Coalbed Methane)
- 14.5.1 Saudi Arabia
- 14.5.2 UAE
- 14.5.3 South Africa
- 14.5.4 Egypt
- 14.5.5 Israel
- 14.5.6 Rest of Middle East and Africa
14.7 Regional Trends Analysis
14.8 Middle East & Africa Global Oil & Gas Upstream Market Research Report - Company Profiles- 14.8.1 Company 1 (Saudi Arabia)
- 14.8.2 Company 2 (UAE)
- 14.8.3 Company 3 (UAE)
- 15.1 Strategic Dashboard of Top Market Players
15.2 Company Profiles (Introduction, Financial Assessments, Portfolio of Offerings, Milestones and Achievements, Strategic Initiative, and SWOT Analysis)- 15.2.1 Exxon Mobil Corporation
- 15.2.2 Chevron Corporation
- 15.2.3 Royal Dutch Shell plc
- 15.2.4 BP plc
- 15.2.5 TotalEnergies SE
17. Principal Presumptions and Acronyms