Impact of Natural Gas and Petroleum on the United States Gross Domestic Product (GDP)
The U.S. Natural Gas and Petroleum Industry size is $180 Billion annually, with an average sector-growth of 3% achieved in 2018. Advances in oil extraction technology have positioned the U.S. to be the world’s largest supplier of Petroleum and remain as the world’s leading producer of natural gas. The industry supports over $1.3 Trillion annually to the U.S. economy, 8% of GDP, in wages, taxes, capital investments, and support to other sectors. The industry is expected to over $1 Trillion for infrastructure capital investments over the next fifteen years, which will continue to add to U.S. GDP, spurring economic growth to most U.S. industry sectors.
Natural Gas and Petroleum supply chain purchases and expenditures classified as two main groups, including upstream and downstream companies. Upstream companies focus on the exploration and production of oil and gas commodities. Downstream companies are involved with refinement, manufacturing, and distribution of finished products across multiple industries. Finished products include gasoline, diesel, jet fuel, heating oil, and energy-related chemicals. Other consumer products, essential to the U.S. economy, include medications, clothing, fertilizer, construction and automotive materials, medical equipment and plastics, infrastructure investments, and countless other items. Natural gas and oil prices impact companies in almost every sector beyond the oil industry. Increases or decreases in prices have ripple effects throughout the economy ranging between the cost of a plane ticket, food products, and a smartphone used to access the internet. Industries affected by oil and natural gas prices need to be part of a detailed market and industry analysis.
Top Growth Markets and Supply Chain Opportunities
The table below lists the NAICS codes and Industry Sectors that contribute to U.S. Natural Gas and petroleum. Five-year income growth trends can be used to identify industries to target for sales. Product names represent goods and services (Commodities) detailed in our Market Research Reports. AllBizOps recommends using the table to start an Industry Analysis and identify which reports will be needed to complete your analysis. See AllBizOps Market Research Reports for more Buyer and Supplier information within your sector of interest.
|Products, Services & |
|Extraction of natural gas and crude petroleum||211120, 211120||crude, petroleum, oil, shale, kerogen, exploration, mining, extraction, butane, casing-head, propane, coal, gasification, mine, gas, ethane, gases, fractionating, petroleum, extraction||Low||11.705|
|Petroleum refineries||324110||acid, oils, petroleum, refineries, aliphatic, chemicals, acyclic, alkylates, asphalt, asphaltic, paving, aviation, fuels, benzene, biodiesel, butylene, butene, coke, crude, refining, cumene, cyclic, hydrocarbons, diesel, ethylene,fuel||Low||3,961|
|Petroleum lubricating oil and grease manufacturing||324191||brake fluids, petroleum, cutting oils, greases, lubricating, hydraulics, re-refining, arresting compounds, transmission fluids||Medium||925|
|All other petroleum and coal products manufacturing||324199||biodiesel fuels, petroleum, refineries, boulets, fuel bricks, briquettes, calcining, coke, gases, tars, oil-based additives, jelly, waxes, road, oils||High||162|
|Petrochemical manufacturing||325110||acyclic, hydrocarbons, butene, ethylene, propene, refined petroleum, aliphatic, petrochemicals, benzene, butadiene, butane, butylene, cumene, ethane, ethylbenzene, heptanes, heptenes, isobutane, isobutene, isoprene, nonene, olefins, paraffins||High||3|
|Industrial gas manufacturing||325120||acetylene, argon, carbon dioxide, chlorodifluoromethane, chlorofluorocarbon gases, dichlorodifluoromethane, dry ice, fluorinated hydrocarbon, fluorocarbon, helium, hydrogen||High||214|
|Synthetic dye and pigment manufacturing||325130||acid, synthetic, organic, anthraquinone, antimony, pigments, arsenic, azine, barytes, barium, sulfate, precipitated, ceramic, chrome, inorganic, ferric oxide||High||118|
|Other basic inorganic chemical manufacturing||325180||alkalies, aluminum chloride, hydroxide, alumina, trihydrate, sulfate, alums, ammonium, potassium, molybdate, perchlorate, thiosulfate, antimony, oxide, arsenates, arsenic, arsenites, barium, beryllium, bleaching agents, inorganic,||High||271|
|Other basic organic chemical manufacturing||325193, 325194, 325199||denatured alcohol, ethanol, nonpotable ethyl, acetate, lime, distillation, acetone manufacturing, aminoanthraquinone, aminoazobenzene, aminoazotoluene, aminophenol, aniline, annatto extract, anthracene, azobenzene, benzaldehyde, benzoic acid, brazilwood, camphor, charcoal briquettes, accelerators, synthetic chemical manufacturing, acetaldehyde, acetaes, acetic acid, anhydride, acetin, acetone, esters, acids, organic, acrolein, acrylonitrile, adipic, amines, adiponitrile, aldehydes, alginates, calcium, potassium, sodium, alginic, amyl, acetate||High||434|
|Custom compounding of purchased resins||325991||custom compounding, blending, mixing, plastics, resins, recycled materials, reformulating products,||MEdium||142|
|Photographic film and chemical manufacturing||325992||computer printer toner cartridges, diazo, whiteprint paper, sensitized, driers chemical, facsimile, film, camera, motion picture, x-ray, graphic arts, thermal paper, photocopying chemicals,||High||469|
|Other miscellaneous chemical product manufacturing||325998||activated carbon, charcoal manufacturing, additive, gasoline, antiknock, detergents, gum, inhibitors, aerosol, packaging, services, anise, oil, antifreeze, antiscaling compounds, brake fluid, synthetic lubricants||High||5,044|
|Air transportation||481111, 481112, 481211, 481212, 481219||air commuter carriers, helicopter transportation, air cargo carriers, airmail, freight, helicopter transportation, air passenger carriers, taxi services, aircraft, charter helicopter transportation, nonscheduled charter, air freight services, transportation, helicopter, space, spacecraft, aircraft, charter services, general purpose variety specialty air transportation, flying, aviation clubs, providing transportation||High||9,842|
|Rail transportation||482111, 482112||freight,railways,line haul, passenger, railroad, transportation, railroads, railway, beltline, railroads, freight, railways,short-line, logging transportation, railroad transportation, railway||High||4,988|
|Water transportation||483111, 483112, 483113, 483114, 483211, 483212||deep sea freight transportation, foreign ports, ship chartering, shipping transporting, cruise lines, deep sea passenger transportation, foreign ports, ship chartering, transporting passengers, barge transportation, coastal, great lakes , seaway freight, domestic ports, shipping, intercoastal lake ship chartering, ship crews, coastal passenger transportation, domestic ports, cruise lines, shipping towing service, canal passenger transportation, car ferries, inland water shuttle taxi services||High||4,274|
|Truck transportation||484110, 484121, 484122, 484210, 484220, 484230||bulk mail truck transportation, contract local container trucking services, general freight motor carriers, furniture moving, freight carrier, household goods trucking, equipment van lines, storage,services, agricultural products trucking, local trash garbage recyclable material, trash waste hauling, automobile carrier, coal, dry, dump gravel, sand, top-soil, farm, flatbed, grain, livestock, log, milk, towing services, oil, gas, fuel, long-distance boat hauling, towing services, field equipment, radioactive waste transportation||High||119,245|
|Transit and ground passenger transportation||485111, 485112, 485113, 485119, 485210, 485310, 485320, 485410, 485510, 485991, 485999||commuter transit systems, bus rail, subway,suburban urban transit, cable car systems, light rail monorail, streetcar subway, tramway, trolley, intercity, interstate, interurban, cab, taxi services, taxicab, dispatch, fleet operators,owner-operators, automobile rental, driver, hearse, limousine services,limousines,luxury automobiles, passenger vans, bus, operation, school, employee services, handicapped, passenger transportation services, paratransit, pet, senior citizens, special transportation services, airport limousine, services, shuttle car pool, vanpool||High||79,817|
|Pipeline transportation||486110, 486210, 486910, 486990||booster, pumping station,natural gas transportation, pipeline, operation, transmission, processing plants, local distribution systems, storage, refined petroleum products transportation, gasoline, liquids, pipelines, coal transportation, slurry,||High||5,617|
|Scenic and sightseeing transportation and support activities for transportation||488210, 488310, 488320, 488330, 488390, 488410, 488490, 488510, 487110, 487210, 487990, 488111, 488119, 488190, 488991, 488999|| |
freight car cleaning services, grain leveling trimming, railroad car loading unloading, rail terminals, locomotive repair, railway switching, independent operation, trailers, canal maintenance services, docking facility operations, harbor, lighthouse, waterfront, seaway docks, piers, wharves, wharf, loading, unloading services, ports, harbors, longshoremen, marine cargo handling, cargo, salvaging, marine docking, undocking, vessel services, harbor, tugboat traffic, water transportation, radio, beacon, ship navigation, ship dismantling drydock, scaling services, shipyard, emergency road services, tow service, motor vehicle towing, truck wrecker, bridge, tunnel, highway, bus terminal, independent cargo surveyors, truck transportation, driving services, automobile delivery, inspection, weighing, loading, unloading, snow clearing, airboat, fishing charter, dinner cruises, sightseeing, tours, hovercraft, scenic excursions, water, whale watching, air traffic control services, aircraft hangar, rental parking service, airport baggage handling services, cargo operators, civil, international, national, runway maintenance, airports, operation, aviation, clubs, field, general, public, runways,
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