Dublin, April 08, 2024 (GLOBE NEWSWIRE) -- The "Natural Gas - Global Strategic Business Report" report has been added to ResearchAndMarkets.com's offering.
Global Natural Gas Market to Reach 5.1 Trillion Cubic Meters by 2030
The global market for Natural Gas estimated at 3.9 Trillion Cubic Meters in the year 2023, is projected to reach 5.1 Trillion Cubic Meters by 2030, growing at a CAGR of 3.5% over the analysis period 2023-2030.
while global inflation rates are expected to experience a steeper decline in 2024, economic growth projections for the same year suggest a mild slowdown as the global economy strives to balance recovery amidst ongoing wars, political conflicts, and high inflation rates. Policy measures aimed at combating inflation may also impact post-pandemic recovery and contribute to fluctuations in unemployment rates globally.
Industrial Application, one of the segments analyzed in the report, is projected to record 4.7% CAGR and reach 1.9 Trillion Cubic Meters by the end of the analysis period. Growth in the Electric Power segment is estimated at 3.3% CAGR for the next 8-year period.
In this landscape, competition remains fierce, with players worldwide exhibiting varying degrees of competitive market presence in 2023. Furthermore, insights into the natural gas market dynamics, influencer/product/technology trends, recent market activities, and innovations provide valuable context for navigating these complex economic conditions.
The U.S. Market is Estimated at 926.2 Billion Cubic Meters, While China is Forecast to Grow at 3.7% CAGR
The Natural Gas market in the U.S. is estimated at 926.2 Billion Cubic Meters in the year 2023. China, the world's second largest economy, is forecast to reach a projected market size of 501 Billion Cubic Meters by the year 2030 trailing a CAGR of 3.7% over the analysis period 2023 to 2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 2% and 2.4% respectively over the 2023-2030 period. Within Europe, Germany is forecast to grow at approximately 2.7% CAGR.
MARKET TRENDS & DRIVERS
- Strong Demand for Natural Gas Vehicles (NGVs) Drives Consumption of CNG and LNG
- Emphasis on NGVs as a More Practical Bridge to a Cleaner Future Expands the Addressable Market Opportunity for Natural Gas: Global NGV Population (In 000 Units) for Years 2023, 2025 and 2027
- Strong Investments in Natural Gas Pipelines to Encourage Growth in the Natural Gas Market
- Robust Spending on Oil and Gas Pipes Will Encourage Trade & Bring Significant Volumes of Natural Gas to Export & Import Terminals: Global Market for Oil and Gas Pipes (In US$ Billion) for Years 2024, 2026, 2028, 2030
- The U.S. Unveils Optimistic Pipeline Capacity Plans That Give Natural Gas Exports From the Country a Shot in the Arm: Pipeline Capacity Expansion in the U.S. (In Billion Cubic Feet Per Day) as of December 2023
- Focus on Low Carbon Fuels as a Vital Step in Clean Energy Transition Drives Demand for Natural Gas
- Unconventional Gas Revolution Gets Underway
- AI's Role in Natural Gas Operations Intensifies. Here's the Story
- A Quick Review of Technology Trends Sweeping Through the Natural Gas Market
MARKET OVERVIEW
- What is Natural Gas?
- Global Economic Update
- Global Oil Prices Remain Volatile Amid Acute Geopolitical Uncertainty & Tensions that Heighten Threat of Market Shocks: Global Average Annual Brent Crude Oil Price (In US$ Per Barrel) for Years 2017 through 2024
- While Still Not in the Comfort Zone, the Expected Steeper Fall in Inflation in 2024 Can Cushion Economic Growth: Global Inflation Rates (In %) for the Years 2019 through 2025
- Mild Slowdown on Cards for 2024, as the Global Economy Attempts to Balance Recovery While Navigating Through Wars, Political Conflicts & Decades-High Inflation: World Economic Growth Projections (Real GDP, Annual % Change) for the Years 2020 Through 2024
- Inflation Battling Policy Measures to Slowdown Post Pandemic Recovery in Unemployment Rates: Global Number of Unemployed People (In Million) for Years 2019 Through 2024
- Competition
- Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2023 (E)
- A Peek Into the Natural Gas Market Dynamics
- Influencer/Product/Technology Insights
- Recent Market Activity
- Innovations
FOCUS ON SELECT PLAYERS(Total 145 Featured)
- Alperia s.p.a.
- Australian Gas Networks Limited
- BP PLC
- Canadian Natural Resources Ltd.
- Centrica PLC
- Chevron Corporation
- China National Offshore Oil Corporation (CNOOC)
- Choose Energy, Inc.
- CK Hutchison Enterprise Limited
- Clean Energy Fuels Australia
For more information about this report visit https://www.researchandmarkets.com/r/3n06rl
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