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U.S. Oil & Gas Electrification Market Share
Companies operating in the market expand their presence through strategic partnerships and mergers. They invest in research and development to develop new products and increase revenue while maintaining market share. These organizations strengthen their market position by optimizing distribution networks and expanding internationally through strategic alliances and acquisitions.
U.S. Oil & Gas Electrification Market Companies
Major players operating across the industry include:
- ABB
- Aker Solutions
- BP
- Chevron
- Equinor
- Exxon Mobil
- LS Cable
- Nexans
- Prysmian
- Shell
- Siemens
- Southwire
- SLB
- TotalEnergies
- ZTT
What is the expected growth rate of the offshore platform electrification segment?
The offshore platform electrification segment is anticipated to grow at a CAGR of over 5% by 2034, driven by a focus on sustainable energy solutions and favorable government policies encouraging a transition from conventional fuels.
What is the growth outlook for the solar segment in the U.S. oil & gas electrification industry?
The solar segment is expected to exceed USD 7.5 million by 2034, supported by efforts to reduce carbon emissions and government initiatives promoting electrification in onshore fields and refineries.
How big is the U.S. oil & gas electrification market?
The U.S. oil & gas electrification industry was valued at USD 106 million in 2024 and is projected to grow at a 6% CAGR from 2025 to 2034, driven by technological advancements and a shift from traditional energy sources.
Who are some of the prominent players in the U.S. oil & gas electrification market?
Key players in the market include ABB, Aker Solutions, BP, Chevron, Equinor, Exxon Mobil, LS Cable, Nexans, Prysmian, Shell, Siemens, and Southwire.