Dublin, Aug. 16, 2023 (GLOBE NEWSWIRE) -- The "Natural Gas Global Market Report 2023" report has been added to ResearchAndMarkets.com's offering.
The global natural gas market will grow from $955.74 billion in 2022 to $1.02 trillion in 2023 at a compound annual growth rate (CAGR) of 7.3%. The natural gas market is expected to grow from $1.37 trillion in 2027 at a CAGR of 7.5%.
Where is the largest and fastest growing market for natural gas? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? This report answers all these questions and many more. The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The growth in the natural gas market is due to increased global economic activity, an increase in usage of electricity, and refined petroleum from developing nations is expected to drive the market in the future. An increase in the usage of the electric power sector is expected to propel the growth of the natural gas market going forward. For instance according to the U.S electricity information administration, a US-based government agency, in the year 2021, the United States used about 30.28 trillion cubic feet (TCF) of natural gas which is about 37% of total natural gas used for the generation of electricity. This is used to cover 32% of the total electricity used in the US. Therefore, an increase in usage of the electric power sector is driving the growth of the natural gas market.
Extraction companies are making significant investments in renewable sources of power for the sustainable extraction of crude oil and natural gas from oil fields. Crude oil and natural gas production are energy-intensive and renewable technologies like solar, wind, biomass, and geothermal, and are being used in producing crude oil and natural gas at lower costs and lower emissions, which are the major trends witnessed in the global natural gas market.
In October 2022, BP PLC, a UK-based multinational oil and gas company, acquired Archaea Energy for an amount of $3.3 billion. With this transaction, BP's strategic bioenergy transition growth engine would expand more quickly. By acquiring Archaea, BP would strengthen its position in the US biogas market, improving its capacity to support customers' decarbonization objectives and advancing its ambition to lower the typical carbon intensity of the energy products it sells. Archaea Energy is a US-based biogas company and one of the largest renewable natural gas ("RNG") producers in the country.
Asia-Pacific was the largest region in the natural gas market in 2021. The regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.
Major players in the natural gas market include PetroChina Co. Ltd., Husky Energy Inc., NGL Energy Partners L.P., Devon Energy Corp., and VNG - Verbundnetz Gas Aktiengesellschaft.
Key Topics Covered
1. Executive Summary
2. Report Structure
3. Natural Gas Market Characteristics
3.1. Market Definition
3.2. Key Segmentations
4. Natural Gas Market Product Analysis
4.1. Leading Products/ Services
4.2. Key Features and Differentiators
4.3. Development Products
5. Natural Gas Market Supply Chain
5.1. Supply Chain
5.2. Distribution
5.3. End Customers
6. Natural Gas Market Customer Information
6.1. Customer Preferences
6.2. End Use Market Size and Growth
7. Natural Gas Market Trends And Strategies
8. Natural Gas Market Size And Growth
8.1. Market Size
8.2. Historic Market Growth, Value ($ Billion)
8.2.1. Drivers Of The Market
8.2.2. Restraints On The Market
8.3. Forecast Market Growth, Value ($ Billion)
8.3.1. Drivers Of The Market
8.3.2. Restraints On The Market
9. Natural Gas Market Regional Analysis
9.1. Global Natural Gas Market, 2022, By Region, Value ($ Billion)
9.2. Global Natural Gas Market, 2017-2022, 2022-2027F, 2032F, Historic And Forecast, By Region
9.3. Global Natural Gas Market, Growth And Market Share Comparison, By Region
10. Natural Gas Market Segmentation
10.1. Global Natural Gas Market, Segmentation By Type, 2017-2022, 2022-2027F, 2032F, Value ($ Billion)
10.1.1. Transport
10.1.2. Industrial
10.1.3. Electric Power
10.1.4. Others
10.2. Global Natural Gas Market, Segmentation By Source, 2017-2022, 2022-2027F, 2032F, Value ($ Billion)
10.2.1. Associated Gas
10.2.2. Non-Associated Gas
10.2.3. Unconventional Sources
10.3. Global Natural Gas Market, Segmentation By End-User, 2017-2022, 2022-2027F, 2032F, Value ($ Billion)
10.3.1. Light Duty Vehicles
10.3.2. Medium Or Heavy Duty Buses
10.3.2. Medium Or Heavy Duty Trucks
11. Natural Gas Market Metrics
11.1. Natural Gas Market Size, Percentage Of GDP, 2017-2022, 2022-2027F, 2032F, Global
11.2. Per Capita Average Natural Gas Market Expenditure, 2017-2022, 2022-2027F, 2032F, Global
12. Asia-Pacific Natural Gas Market
13. Western Europe Natural Gas Market
14. Eastern Europe Natural Gas Market
15. North America Natural Gas Market
16. South America Natural Gas Market
17. Middle East Natural Gas Market
18. Africa Natural Gas Market
19. Natural Gas Market Competitive Landscape
19.1. Competitive Market Overview
19.2. Market Shares
19.3. Company Profiles
19.3.1. PetroChina Co. Ltd.
19.3.2. Husky Energy Inc.
19.3.3. NGL Energy Partners L.P.
19.3.4. Devon Energy Corp.
19.3.5. VNG - Verbundnetz Gas Aktiengesellschaft
20. Key Mergers And Acquisitions In The Natural Gas Market
21. Market Background: Oil & Gas Upstream Activities Market
21.1. Oil & Gas Upstream Activities Market Characteristics
21.2. Oil & Gas Upstream Activities Market Historic and Forecast, 2017-2022, 2022-2027F, 2032F Growth, by segment, Value ($ Billion), Global
21.3. Global Oil & Gas Upstream Activities Market, 2022, By Region, Value ($ Billion)
21.4. Global Oil & Gas Upstream Activities Market, 2017-2022, 2022-2027F, 2032F, Historic And Forecast, By Region
21.5. Global Oil & Gas Upstream Activities Market, 2017-2022, 2022-2027F, 2032F, Segmentation By Type, Value ($ Billion)
22. Recommendations
22.1. Global Natural Gas Market In 2022-2027F- Growth Countries
22.2. Global Natural Gas Market In 2022-2027F- Growth Segments
22.3. Global Natural Gas Market In 2022-2027F- Growth Strategies
23. Appendix
23.1. NAICS Definitions Of Industry Covered In This Report
23.2. Abbreviations
23.3. Currencies
23.4. Research Inquiries
For more information about this report visit https://www.researchandmarkets.com/r/su825u
About ResearchAndMarkets.com
ResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.
