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Petroleum Refining

Leader: Marathon Petroleum — 16.4% S1 · 39.5% CR3

S1
16.4%
leader
CR3
39.5%
top 3 combined
HHI
537
Unconcentrated
MARKET SIZE
$400B
US

How this is calculated

FORMULA
S1 = Marathon Petroleum capacity / total capacity = 16.4%
CR3 = Marathon Petroleum + Valero + ExxonMobil = 39.5%
HHI = Σ(share²) = 537 (Unconcentrated (HHI < 1,500))
DENOMINATOR
Capacity — $400B (US)
US atmospheric crude distillation capacity (barrels/day).
Size from: EIA Refinery Capacity Report
TOP 3 PLAYERS
#1Marathon Petroleum16.4%
#2Valero12.3%
#3ExxonMobil10.8%
METHODOLOGY NOTE
Marathon's share of US refining capacity per EIA Refinery Capacity Report. Revenue proxied by capacity. Validated against MPC, VLO, and PSX 10-K throughput and refining segment revenue. [Refreshed Aug 2026: LYB Houston + P66 LA closures shrink capacity; ExxonMobil displaces Phillips 66 at #3. Valero Benicia ceased spring 2026 — will shift 2027 shares. Source: EIA Refinery Capacity Report 2026 (18.2 mmb/cd; Marathon 2.99, Valero 2.23, XOM ~1.97)]
SOURCES
Year: 2026
Geo: US
Firms: ~25

Labor economics

REV / EMPLOYEE (leader)
$4.8M
industry avg $3.5M
SG&A % (leader)
2%
of revenue

Marathon Petroleum FY2024 SG&A 2.3% on $140B; highest rev/emp in dataset due to capital intensity

See full Labor & AI analysis →

Related markets

Pharma / Biopharma
Eli Lilly
10.9%
CR3 31.8%
Commodity Chemicals
LyondellBasell
7.2%
CR3 16.6%
Specialty Chemicals
Sherwin-Williams
7.6%
CR3 14.6%
Paper & Packaging
Smurfit Westrock
12.0%
CR3 24.6%
Plastics & Rubber
Amcor (incl. Berry)
11.0%
CR3 16.5%

Source Quality Hierarchy

Every market has a primary source plus 1–3 validation sources. Revenue numerators come from SEC 10-K filings; denominators validated against the Economic Census where available.

TIER 1Authoritative anchorsGovernment data + SEC filings
US Economic Census (data.census.gov) · SEC EDGAR / Company 10-Ks · BEA Industry Value-Added (FRED) · BLS QCEW · USGS Mineral Commodity Summaries · EIA Refinery Capacity Report · FDA device listings
TIER 2Leading commercial trackersIndustry-standard paid trackers
IDC Semiannual Software Tracker · Gartner Market Share & Magic Quadrant · IBISWorld NAICS reports · StatCounter Global Stats · eMarketer / Insider Intelligence · Synergy Research Group
TIER 3Category specialistsBest-in-class niche authorities
SIPRI (aerospace & defense) · IQVIA (pharma) · TrendForce (semiconductors) · CIMdata (CAD/PLM) · Nilson Report (payments) · Am Law 100 (legal) · ENR Top 500 (A&E) · AM Best (insurance) · SIA (staffing) · Ad Age (agencies) · Barron's / Cerulli (wealth) · Evaluate MedTech · Nielsen Gauge (streaming) · Gridwise (ride-hail) · Bloomberg Second Measure (delivery) · RC Top 100 (roofing) · SDM Top 100 (fire/safety) · Big 4 annual reports · ALM Intelligence (consulting)

Data vintage: Q2 2025 research compilation. Labels updated 2026-Q2. Tier 1 sources refreshed from FY2025 SEC filings where available. For full methodology see the Methodology page.