Oil, Gas & Mining Consultants in the US - Industry Research Report

Oiling Up: Industry Revenue is Expected to Bounce as Oil and Natural Gas Prices Recover

The Oil, Gas and Mining Consultants industry experienced growth over the five years to 2023 as fossil fuel companies aggressively pursued oil and natural gas deposits trapped in shale rock formations. In turn, industry consultants advised clients on various topics, including regulatory, legal, operational and environmental matters related to fossil fuel production. Industry revenue is anticipated to increase an annualized 4.3% to $6.1 billion over the five years to 2023. COVID-19 and the accompanying economic lockdowns initially hurt demand for consulting services as falling commodity prices led downstream producers to shut in production and cut unnecessary expenses. Nonetheless, revenue is expected to grow 2.0% in 2023 alone as the US oil and gas production index is anticipated to rise, stimulating greater demand for consulting services.

Companies in this industry provide advice to businesses and other organizations regarding the exploration and development of valuable minerals and other geological materials. Furthermore, industry consultants also provide expertise related to energy efficiency and regulatory changes. This industry does not include companies that provide geological surveying and mapping services; those services are included in the Geophysical Services industry.

This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.