Dry Natural Gas Market
Dry Natural Gas Market Forecasts to 2032 - Global Analysis By Source (Cleaning Conventional Natural Gas and Unconventional Natural Gas), Gas Quality (High-Btu Gas and Low-Btu Gas), Distribution Mode, Application, Participant and By Geography
|
Years Covered |
2024-2032 |
|
Estimated Year Value (2025) |
US $1,107.4 BN |
|
Projected Year Value (2032) |
US $1,789.9 BN |
|
CAGR (2025-2032) |
7.1% |
|
Regions Covered |
North America, Europe, Asia Pacific, South America, and Middle East & Africa |
|
Countries Covered |
US, Canada, Mexico, Germany, UK, Italy, France, Spain, Japan, China, India, Australia, New Zealand, South Korea, Rest of Asia Pacific, South America, Argentina, Brazil, Chile, Middle East & Africa, Saudi Arabia, UAE, Qatar, and South Africa |
|
Largest Market |
Asia Pacific |
|
Highest Growing Market |
North America |
According to Stratistics MRC, the Global Dry Natural Gas Market is accounted for $1,107.4 billion in 2025 and is expected to reach $1,789.9 billion by 2032 growing at a CAGR of 7.1% during the forecast period. Processed dry natural gas consists primarily of methane, with minimal traces of heavier hydrocarbons and impurities like hydrogen sulfide and water vapor. It is derived after extracting natural gas liquids (NGLs) such as ethane, propane, and butane, ensuring suitability for direct use and pipeline transport. Widely utilized for heating, electricity generation, and industrial processes, it serves as an efficient and cleaner-burning fossil fuel. Its lower emissions profile makes it a key contributor to energy sustainability across various sectors.
Market Dynamics:
Driver:
Increasing global population and rapid urbanization
Expanding urban infrastructure and industrialization require consistent fuel supplies, making natural gas a preferred choice for electricity generation and heating. Governments worldwide are investing in energy security, ensuring stable gas availability for growing urban centers. Additionally, technological advancements in extraction and processing enhance supply efficiency while minimizing environmental impact. As residential and commercial energy consumption rises, dry natural gas plays a vital role in meeting sustainability goals.
Restraint:
Infrastructure limitations and high capital expenditure
Establishing extensive pipeline networks and storage facilities requires significant financial investment, often delaying expansion projects. Developing economies face hurdles in integrating advanced gas infrastructure due to cost constraints and regulatory approvals. Additionally, geopolitical factors affecting cross-border gas transportation create supply chain disruptions. The reliance on costly LNG terminals for export and import further adds to operational expenses, impacting market accessibility for certain regions.
Opportunity:
Natural gas as a ""bridge fuel"" in energy transition
Compared to coal and oil, natural gas generates lower carbon emissions, making it an attractive interim solution for reducing environmental impact. Investments in carbon capture and efficient gas-fired power plants strengthen its role in energy transition strategies. As nations implement decarbonization policies, natural gas complements renewable energy by providing stable baseload power. Additionally, hybrid energy systems integrating gas and renewables are gaining traction, optimizing energy reliability while supporting climate goals.
Threat:
Rapid acceleration of renewable energy adoption
Solar, wind, and other renewable sources are gaining traction worldwide due to falling costs, improved storage solutions, and supportive policy frameworks. As countries accelerate their transition to zero-carbon energy, the demand for natural gas could diminish, particularly in regions with strong renewable integration. Additionally, advancements in battery storage and green hydrogen production challenge the long-term role of natural gas, potentially leading to reduced investments and market share.
Covid-19 Impact:
The pandemic significantly affected global natural gas markets, disrupting supply chains and delaying infrastructure projects. Reduced industrial activity and lower energy demand led to temporary declines in gas consumption. However, as economic recovery efforts gained momentum, demand rebounded with increased investments in energy security. The crisis highlighted the importance of stable fuel supply, reinforcing long-term commitments to natural gas infrastructure.
The conventional natural gas segment is expected to be the largest during the forecast period
The conventional natural gas segment is expected to account for the largest market share during the forecast period due to its well-established extraction and distribution infrastructure. This segment benefits from mature technologies, reliable supply chains, and widespread demand across residential, commercial, and industrial sectors. Conventional gas remains the backbone of many national energy portfolios, especially in regions with abundant natural reserves, ensuring its continued market leadership.
The pipeline segment is expected to have the highest CAGR during the forecast period
Over the forecast period, the pipeline segment is predicted to witness the highest growth rate owing to expanding pipeline infrastructure to improve gas distribution efficiency and meet increasing consumption in remote and urban areas alike. Investments in pipeline modernization, safety enhancements, and cross-border gas connectivity projects contribute to this rapid expansion, facilitating seamless delivery and enhancing market accessibility.
Region with largest share:
During the forecast period, the Asia Pacific region is expected to hold the largest market share fueled by robust industrialization, rising energy demand from emerging economies like China and India, and increased urban development. Governments across the region are prioritizing natural gas to replace more polluting energy sources, supporting environmental goals while ensuring energy security.
Region with highest CAGR:
Over the forecast period, the North America region is anticipated to exhibit the highest CAGR attributed to technological advancements, shale gas development, and supportive policies. The region’s strong focus on expanding natural gas export capacity, along with investments in pipeline and liquefaction infrastructure, underpins this rapid growth. Additionally, increased adoption of natural gas in power generation and transportation sectors propels market expansion in North America.
Key players in the market
Some of the key players in Dry Natural Gas Market include ExxonMobil Corporation, Chevron Corporation, Royal Dutch Shell, BP P.L.C., TotalEnergies SE, ConocoPhillips, Equinor ASA, Gazprom, Saudi Aramco, PetroChina Company Limited, Sinopec Group, Eni S.p.A., Occidental Petroleum Corporation, CNOOC Limited, Hess Corporation, Woodside Energy Group Ltd., and Chesapeake Energy Corporation.
Key Developments:
In May 2025, ExxonMobil announced a long-term agreement to supply approximately 250,000 tonnes of low-carbon ammonia annually to Marubeni Corporation. This deal aims to support energy transition efforts and strengthen U.S.-Japan industrial cooperation.
In May 2025, PetroChina announced the establishment of a hydrogen energy-focused venture capital fund with an initial investment of 5 billion yuan ($690 million). The fund aims to support early-stage investments and the development of key materials, core equipment, and proprietary technologies in the hydrogen sector.
Sources Covered:
• Conventional Natural Gas
• Unconventional Natural Gas
Gas Qualities Covered:
• High-Btu Gas
• Low-Btu Gas
Distribution Modes Covered:
• Pipeline
• LNG (Liquefied Natural Gas)
• CNG (Compressed Natural Gas)
Applications Covered:
• Power Generation
• Industrial Heating
• Residential & Commercial Heating
• Transportation
• Other Applications
Participants Covered:
• Producers
• Distributors
• Suppliers
• Traders
Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan
o China
o India
o Australia
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2024, 2025, 2026, 2028, and 2032
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
o Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances
Table of Contents
1 Executive Summary
2 Preface
2.1 Abstract
2.2 Stake Holders
2.3 Research Scope
2.4 Research Methodology
2.4.1 Data Mining
2.4.2 Data Analysis
2.4.3 Data Validation
2.4.4 Research Approach
2.5 Research Sources
2.5.1 Primary Research Sources
2.5.2 Secondary Research Sources
2.5.3 Assumptions
3 Market Trend Analysis
3.1 Introduction
3.2 Drivers
3.3 Restraints
3.4 Opportunities
3.5 Threats
3.6 Application Analysis
3.7 Emerging Markets
3.8 Impact of Covid-19
4 Porters Five Force Analysis
4.1 Bargaining power of suppliers
4.2 Bargaining power of buyers
4.3 Threat of substitutes
4.4 Threat of new entrants
4.5 Competitive rivalry
5 Global Dry Natural Gas Market, By Source
5.1 Introduction
5.2 Conventional Natural Gas
5.3 Unconventional Natural Gas
5.3.1 Shale Gas
5.3.2 Tight Gas
5.3.3 Coalbed Methane (CBM)
6 Global Dry Natural Gas Market, By Gas Quality
6.1 Introduction
6.2 High-Btu Gas
6.3 Low-Btu Gas
7 Global Dry Natural Gas Market, By Distribution Mode
7.1 Introduction
7.2 Pipeline
7.3 LNG (Liquefied Natural Gas)
7.4 CNG (Compressed Natural Gas)
8 Global Dry Natural Gas Market, By Application
8.1 Introduction
8.2 Power Generation
8.3 Industrial Heating
8.4 Residential & Commercial Heating
8.5 Transportation
8.6 Other Applications
9 Global Dry Natural Gas Market, By Participant
9.1 Introduction
9.2 Producers
9.3 Distributors
9.4 Suppliers
9.5 Traders
10 Global Dry Natural Gas Market, By Geography
10.1 Introduction
10.2 North America
10.2.1 US
10.2.2 Canada
10.2.3 Mexico
10.3 Europe
10.3.1 Germany
10.3.2 UK
10.3.3 Italy
10.3.4 France
10.3.5 Spain
10.3.6 Rest of Europe
10.4 Asia Pacific
10.4.1 Japan
10.4.2 China
10.4.3 India
10.4.4 Australia
10.4.5 New Zealand
10.4.6 South Korea
10.4.7 Rest of Asia Pacific
10.5 South America
10.5.1 Argentina
10.5.2 Brazil
10.5.3 Chile
10.5.4 Rest of South America
10.6 Middle East & Africa
10.6.1 Saudi Arabia
10.6.2 UAE
10.6.3 Qatar
10.6.4 South Africa
10.6.5 Rest of Middle East & Africa
11 Key Developments
11.1 Agreements, Partnerships, Collaborations and Joint Ventures
11.2 Acquisitions & Mergers
11.3 New Product Launch
11.4 Expansions
11.5 Other Key Strategies
12 Company Profiling
12.1 ExxonMobil Corporation
12.2 Chevron Corporation
12.3 Royal Dutch Shell
12.4 BP P.L.C.
12.5 TotalEnergies SE
12.6 ConocoPhillips
12.7 Equinor ASA
12.8 Gazprom
12.9 Saudi Aramco
12.10 PetroChina Company Limited
12.11 Sinopec Group
12.12 Eni S.p.A.
12.13 Occidental Petroleum Corporation
12.14 CNOOC Limited
12.15 Hess Corporation
12.16 Woodside Energy Group Ltd.
12.17 Chesapeake Energy Corporation
List of Tables
1 Global Dry Natural Gas Market Outlook, By Region (2024-2032) ($MN)
2 Global Dry Natural Gas Market Outlook, By Source (2024-2032) ($MN)
3 Global Dry Natural Gas Market Outlook, By Conventional Natural Gas (2024-2032) ($MN)
4 Global Dry Natural Gas Market Outlook, By Unconventional Natural Gas (2024-2032) ($MN)
5 Global Dry Natural Gas Market Outlook, By Shale Gas (2024-2032) ($MN)
6 Global Dry Natural Gas Market Outlook, By Tight Gas (2024-2032) ($MN)
7 Global Dry Natural Gas Market Outlook, By Coalbed Methane (CBM) (2024-2032) ($MN)
8 Global Dry Natural Gas Market Outlook, By Gas Quality (2024-2032) ($MN)
9 Global Dry Natural Gas Market Outlook, By High-Btu Gas (2024-2032) ($MN)
10 Global Dry Natural Gas Market Outlook, By Low-Btu Gas (2024-2032) ($MN)
11 Global Dry Natural Gas Market Outlook, By Distribution Mode (2024-2032) ($MN)
12 Global Dry Natural Gas Market Outlook, By Pipeline (2024-2032) ($MN)
13 Global Dry Natural Gas Market Outlook, By LNG (Liquefied Natural Gas) (2024-2032) ($MN)
14 Global Dry Natural Gas Market Outlook, By CNG (Compressed Natural Gas) (2024-2032) ($MN)
15 Global Dry Natural Gas Market Outlook, By Application (2024-2032) ($MN)
16 Global Dry Natural Gas Market Outlook, By Power Generation (2024-2032) ($MN)
17 Global Dry Natural Gas Market Outlook, By Industrial Heating (2024-2032) ($MN)
18 Global Dry Natural Gas Market Outlook, By Residential & Commercial Heating (2024-2032) ($MN)
19 Global Dry Natural Gas Market Outlook, By Transportation (2024-2032) ($MN)
20 Global Dry Natural Gas Market Outlook, By Other Applications (2024-2032) ($MN)
21 Global Dry Natural Gas Market Outlook, By Participant (2024-2032) ($MN)
22 Global Dry Natural Gas Market Outlook, By Producers (2024-2032) ($MN)
23 Global Dry Natural Gas Market Outlook, By Distributors (2024-2032) ($MN)
24 Global Dry Natural Gas Market Outlook, By Suppliers (2024-2032) ($MN)
25 Global Dry Natural Gas Market Outlook, By Traders (2024-2032) ($MN)
Note: Tables for North America, Europe, APAC, South America, and Middle East & Africa Regions are also represented in the same manner as above.
List of Figures
RESEARCH METHODOLOGY
We at ‘Stratistics’ opt for an extensive research approach which involves data mining, data validation, and data analysis. The various research sources include in-house repository, secondary research, competitor’s sources, social media research, client internal data, and primary research.
Our team of analysts prefers the most reliable and authenticated data sources in order to perform the comprehensive literature search. With access to most of the authenticated data bases our team highly considers the best mix of information through various sources to obtain extensive and accurate analysis.
Each report takes an average time of a month and a team of 4 industry analysts. The time may vary depending on the scope and data availability of the desired market report. The various parameters used in the market assessment are standardized in order to enhance the data accuracy.
Data Mining
The data is collected from several authenticated, reliable, paid and unpaid sources and is filtered depending on the scope & objective of the research. Our reports repository acts as an added advantage in this procedure. Data gathering from the raw material suppliers, distributors and the manufacturers is performed on a regular basis, this helps in the comprehensive understanding of the products value chain. Apart from the above mentioned sources the data is also collected from the industry consultants to ensure the objective of the study is in the right direction.
Market trends such as technological advancements, regulatory affairs, market dynamics (Drivers, Restraints, Opportunities and Challenges) are obtained from scientific journals, market related national & international associations and organizations.
Data Analysis
From the data that is collected depending on the scope & objective of the research the data is subjected for the analysis. The critical steps that we follow for the data analysis include:
- Product Lifecycle Analysis
- Competitor analysis
- Risk analysis
- Porters Analysis
- PESTEL Analysis
- SWOT Analysis
The data engineering is performed by the core industry experts considering both the Marketing Mix Modeling and the Demand Forecasting. The marketing mix modeling makes use of multiple-regression techniques to predict the optimal mix of marketing variables. Regression factor is based on a number of variables and how they relate to an outcome such as sales or profits.
Data Validation
The data validation is performed by the exhaustive primary research from the expert interviews. This includes telephonic interviews, focus groups, face to face interviews, and questionnaires to validate our research from all aspects. The industry experts we approach come from the leading firms, involved in the supply chain ranging from the suppliers, distributors to the manufacturers and consumers so as to ensure an unbiased analysis.
We are in touch with more than 15,000 industry experts with the right mix of consultants, CEO's, presidents, vice presidents, managers, experts from both supply side and demand side, executives and so on.
The data validation involves the primary research from the industry experts belonging to:
- Leading Companies
- Suppliers & Distributors
- Manufacturers
- Consumers
- Industry/Strategic Consultants
Apart from the data validation the primary research also helps in performing the fill gap research, i.e. providing solutions for the unmet needs of the research which helps in enhancing the reports quality.
For more details about research methodology, kindly write to us at info@strategymrc.com
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