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2024 U.S. Industry Statistics & Market Forecast - Drilling Oil and Gas Wells


Market Size & Industry Statistics

The total U.S. industry market size for Drilling Oil and Gas Wells: Industry statistics cover all companies in the United States, both public and private, ranging in size from small businesses to market leaders. In addition to revenue, the industry market analysis shows information on employees, companies, and average firm size.

Investors, banks, and business executives use growth rates and industry trends to understand the market outlook and opportunity.

Charts and graphs can be copied to Microsoft Word and Powerpoint presentations.

Statistics        2019        2020        2021        2022        2023
Market Size
(Total Sales/Revenue)


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Total Firms
Total Employees
Average Revenue Per Firm
Average Employees Per Firm
Average Revenue Per Employee
Statistics Source: U.S. Census, AnythingResearch Analysis of Federal Data



Market Forecast

Market forecasts show the long term industry outlook and future growth trends. The following extended five-year forecast projects both short-term and long-term trends.





Forecast / Industry Outlook 2024 2025 2026 2027 2028
Market Forecast ($ millions)
Projected Industry Growth Rate (%)
Source: AnythingResearch Economic Analysis

Industry Insights

The Drilling Oil & Gas Wells industry is facing numerous challenges and trends that impact the way this industry operates. One of the most crucial trends in the drilling oil & gas wells industry is the shift towards unconventional oil and gas reserves, such as shale gas and tight oil reserves. The expansion of unconventional resources has been driving the industry in recent years.

Another key trend is the utilization of advanced drilling technologies, such as horizontal drilling, hydraulic fracturing, and other drilling techniques. These techniques have enabled oil and gas companies to extract resources efficiently, boosting their production capabilities.

Furthermore, there is a growing demand for environmentally-friendly drilling methods that minimize the impact of drilling operations on the environment. This trend has led to the adoption of technologies that can handle drilling waste and mitigate the environmental impact of drilling activities.

There is also a trend towards developing new offshore reserves, as many onshore reserves are nearing depletion, which requires companies to invest in technology and equipment better suited to deep-sea drilling.

Finally, oil and gas companies are increasingly adopting digital solutions to optimize drilling operations, improve decision-making, and enhance safety. Advanced analytics, artificial intelligence, and cloud computing are just some of the innovative technologies that are transforming the industry.



U.S. Geographic Distribution: Revenue Statistics by State

Market Size by State ($ millions) indicates how the industry's competition is distributed throughout the country. State-level information can identify areas with higher and lower industry market share than average.

U.S. map by state

Income Statement (Average Financial Metrics)

Financial metrics provide a snapshot view of a benchmark "average" company. Key business metrics show revenue and operating costs. The data collected covers both public and private companies.

Industry AveragePercent of Sales
(Industry Benchmark)
Total Revenue

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Operating Revenue
Cost of Goods Sold
Gross Profit

Operating Expenses
Pension, profit sharing plans, stock, annuity
Repairs
Rent paid on business property
Charitable Contributions
Depletion
Domestic production activities deduction
Advertising
Compensation of officers
Salaries and wages
Employee benefit programs
Taxes and Licenses
Bad Debts
Depreciation
Amortization
Other Operating Expenses
Total Operating Expenses
Operating Income
Non-Operating Income
EBIT (Earnings Before Interest and Taxes)
Interest Expense
Earnings Before Taxes
Income Tax
Net Profit
Net Income
 
Source: AnythingResearch Analysis of U.S. federal statistics




Financial Ratio Analysis

Financial ratio information can be used to benchmark how a Drilling Oil and Gas Wells company compares to its peers. Accounting statistics are calculated from the industry-average for income statements and balance sheets.

Profitability & Valuation RatiosIndustry Average
Company valuation can be measured based on the firm's own performance, as well as in comparison against its industry competitors. These metrics show how the average company in the Drilling Oil and Gas Wells industry is performing.
Profit Margin
Gross Profit Margin, Operating Profit Margin, and Net Profit Margin. Show company earnings relative to revenues.
Return on Equity (ROE)
Return on Equity (ROE) is net income as a percentage of shareholders' equity. Shareholders' Equity is defined as the company's total assets minus total liabilities. ROE shows how much profits a company generates with the money shareholders invested (or with retained earnings).
Return on Assets (ROA)
Return on Assets (ROA) is net income relative to total assets. The market research on Drilling Oil and Gas Wells measures how efficiently the company leverages its assets to generate profit. ROA is calculated as Net Income divided by Total Assets.


Liquidity RatiosIndustry Average
Bankers and suppliers use liquidity to determine creditworthiness and identify potential threats to a company's financial viability.
Current Ratio
Measures a firm's ability to pay its debts over the next 12 months.
Quick Ratio (Acid Test)
Calculates liquid assets relative to liabilities, excluding inventories.


Efficiency Ratios - Key Performance IndicatorsIndustry Average
Measure how quickly products and services sell, and effectively collections policies are implemented.
Receivables Turnover Ratio
If this number is low in your business when compared to the industry average in the research report, it may mean your payment terms are too lenient or that you are not doing a good enough job on collections.
Average Collection Period
Based on the Receivables Turnover, this estimates the collection period in days. Calculated as 365 divided by the Receivables Turnover
Inventory Turnover
A low turnover rate may point to overstocking, obsolescence, or deficiencies in the product line or marketing effort.
Fixed-Asset Turnover
Generally, higher is better, since it indicates the business has less money tied up in fixed assets for each dollar of sales revenue.



Compensation & Salary Surveys for Employees

Compensation statistics provides an accurate assessment of industry-specific jobs and national salary averages. This information can be used to identify which positions are most common, and high, low, and average annual wages.

TitlePercent of WorkforceBottom Quartile Average (Median) SalaryUpper Quartile
Management Occupations 7%

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Chief Executives0%
General and Operations Managers4%
Office and Administrative Support Occupations 7%
Construction and Extraction Occupations 46%
Supervisors of Construction and Extraction Workers 6%
First-Line Supervisors of Construction Trades and Extraction Workers 6%
First-Line Supervisors of Construction Trades and Extraction Workers 6%
Construction Trades Workers 6%
Extraction Workers 34%
Derrick, Rotary Drill, and Service Unit Operators, Oil and Gas 18%
Service Unit Operators, Oil and Gas 10%
Roustabouts, Oil and Gas 12%
Roustabouts, Oil and Gas 12%
Installation, Maintenance, and Repair Occupations 8%
Other Installation, Maintenance, and Repair Occupations 6%
Transportation and Material Moving Occupations 14%
Motor Vehicle Operators 7%
Driver/Sales Workers and Truck Drivers 7%
Heavy and Tractor-Trailer Truck Drivers 7%
Material Moving Workers 5%
Source: Bureau of Labor Statistics


Drilling Oil and Gas Wells Competitor Landscape & Key Companies [PREMIUM]

The most influential companies in the Drilling Oil and Gas Wells industry and adjacent industries either have large market share or are developing new business models and methods that could disrupt the status quo. We look at leading and emerging companies in the Drilling Oil and Gas Wells industry and adjacent sectors:

Market Leaders:
Direct Competitors

Companies with the largest market share, focused in this industry
Market leaders:
Diversified Competitors

Largest companies that have diversified operations in this and other industries
Innovators:
Direct Competitors

Innovative, Emerging, and Disruptive Companies that may influence the future direction of the industry.
Innovators:
Diversified Competitors

Innovators and Disruptors in adjacent industries that may also affect the Drilling Oil and Gas Wells industry.
Source:
IncFact