Mexico Oil and Gas Market Size, Share, and COVID-19 Impact Analysis, By Operation (Upstream, Midstream, and Downstream), By Application (Commercial and Residential), and Mexico Oil and Gas Market Insights, Industry Trend, Forecasts to 2033
Industry: Energy & PowerMexico Oil and Gas Market Insights Forecasts to 2033
- The Mexico Oil and Gas Market Size was estimated at USD 190.17 Billion in 2023.
- The Market is Growing at a CAGR of 3.51% from 2023 to 2033
- The Mexico Oil and Gas Market Size is Expected to Reach USD 268.39 Billion by 2033
Get more details on this report -
The Mexico Oil and Gas Market is Expected to Reach USD 268.39 Billion by 2033, growing at a CAGR of 3.51% from 2023 to 2033.
Market Overview
The Mexico oil and gas market includes exploration, extraction, refinement, transportation, and sale of oil and gas products inside Mexico. The market experiences a rise in investments in improving refineries, increased demand for drilling technology developments, and the privatization of Mexico's oil and gas sector. It is expected that the natural gas scarcity that European countries are facing as a result of the crisis in Russia and Ukraine, as well as the cooperation between Mexico and European countries for natural gas trading, will further impact the expansion of the oil and gas industry. In addition, the liberalization of fuel prices and government subsidies are expected to boost Mexico's demand for gas and oil.
Report Coverage
This research report categorizes the market for the Mexico oil and gas market based on various segments and regions forecasts revenue growth and analyzes trends in each submarket. The report analyses the key growth drivers, opportunities, and challenges influencing the France insurance market. Recent market developments and competitive strategies such as expansion, product launch, and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key market players and analyses their core competencies in each sub-segment of the Mexico oil and gas market.
Mexico Oil and Gas Market Report Coverage
Report Coverage | Details |
---|---|
Base Year: | 2023 |
Market Size in 2023: | USD 190.17 Billion |
Forecast Period: | 2023 – 2033 |
Forecast Period CAGR 2023 – 2033 : | 3.51% |
023 – 2033 Value Projection: | USD 268.39 Billion |
Historical Data for: | 2019-2022 |
No. of Pages: | 230 |
Tables, Charts & Figures: | 116 |
Segments covered: | By Operation, By Application |
Companies covered:: | BP p.l.c. Chevron Corporation Citla Energy SAIPEM SpA Sempra Shell International B.V. TotalEnergies Exxon Mobil Corporation Marathon Petroleum Corporation Petroleos Mexicanos (Pemex) Others |
Pitfalls & Challenges: | COVID-19 Empact,Challenges, Future, Growth, & Analysis |
Get more details on this report -
Driving Factors
The market expansion in Mexico is mostly driven by the existence of sufficient resource potential. In addition, the energy sector changes in Mexico that allow private involvement in exploration and operations promote resource development, offer up prospects for exploration, production, and investment in hydrocarbon projects, and propel market expansion.
Restraining Factors
Increasing the switch to greener energy sources is a major obstacle impeding industry growth. In addition, the demand for oil and gas in Mexico may be further reduced if overall energy consumption is decreased by developments in energy-saving and energy-efficient technologies.
Market Segmentation
The Mexico oil and gas market share is classified into operation and application.
- The upstream segment accounted for the largest share in 2023 and is expected to grow at a significant CAGR during the forecast period.
Based on the operation, the Mexico oil and gas market is segmented by mode into upstream, midstream, and downstream. Among these, the upstream segment accounted for the largest share in 2023 and is expected to grow at a significant CAGR during the forecast period. The exploration, development, and production of natural gas and crude oil are referred to as the upstream segment in the Mexican oil and gas industry. In addition, the growth of this segment can be attributed to increased demand, technological developments, and advantageous government policies.
- The commercial segment accounted for the highest share in 2023 and is expected to grow at a significant CAGR during the forecast period.
Based on the application, the Mexico oil and gas market is divided into commercial and residential. Among these, the commercial segment accounted for the highest share in 2023 and is expected to grow at a significant CAGR during the forecast period. This is mostly because of the high demand for gas and oil in transportation, industry, and other commercial purposes.
Competitive Analysis:
The report offers the appropriate analysis of the key organizations/companies involved within the Mexico oil and gas market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market.
List of Key Companies
- BP p.l.c.
- Chevron Corporation
- Citla Energy
- SAIPEM SpA
- Sempra
- Shell International B.V.
- TotalEnergies
- Exxon Mobil Corporation
- Marathon Petroleum Corporation
- Petroleos Mexicanos (Pemex)
- Others
Key Target Audience
- Market Players
- Investors
- End-users
- Government Authorities
- Consulting And Research Firm
- Venture capitalists
- Value-Added Resellers (VARs)
Recent Developments
- In August 2022, BP Plc declared that it would look into selling its oil holdings in Mexico and refocusing on renewable energy in the country.
Market Segment
This study forecasts revenue at France, regional, and country levels from 2020 to 2033. Spherical Insights has segmented the Mexico oil and gas market based on the below-mentioned segments:
Mexico Oil and Gas Market, By Operation
- Upstream
- Midstream
- Downstream
Mexico Oil and Gas Market, By Application
- Commercial
- Residential
Need help to buy this report?