Natural Gas Market
Natural Gas Market Forecasts to 2030 - Global Analysis By Product Type (Ethane, Propane, Methane and Other Product Types), Type, Source,Distribution Channel, Application, End User and By Geography
According to Stratistics MRC, the Global Natural Gas Market is growing at a CAGR of 5.0% during the forecast period. Natural gas is a versatile and abundant fossil fuel composed primarily of methane. Widely used for electricity generation, heating, industrial processes, and as a fuel for vehicles, natural gas is a crucial component of the global energy mix. It is extracted from underground reservoirs and can be sourced from conventional wells or unconventional methods like hydraulic fracturing. Known for its relatively lower carbon emissions compared to coal and oil, natural gas is considered a transitional energy source in efforts to reduce greenhouse gas emissions.
According to the results of the bid opening for the 11th round of city gas distribution (CGD) bidding, Indian Oil Corporation (IOC) stands to get nine licences and Bharat Petroleum Corporation Ltd (BPCL).
Market Dynamics:
Driver:
Availability of vast and accessible natural gas reserves
Abundant reserves provide a stable and reliable supply, ensuring consistent availability for various applications, including electricity generation, industrial processes, and residential use. This abundance contributes to market stability and mitigates concerns related to energy security, reducing dependence on external sources. Moreover, the availability of vast natural gas reserves often results in competitive pricing, making natural gas an economically viable option for consumers and industries. This accessibility, combined with the versatility and environmental advantages of natural gas drive the growth of the market.
Restraint:
Price volatility influenced by geopolitical events
Geopolitical tensions, conflicts, or sudden policy changes in major gas-producing regions can lead to abrupt and unpredictable fluctuations in natural gas prices. Such volatility creates challenges for market participants, including producers, consumers, and investors, affecting investment decisions, project planning, and overall market stability. Furthermore, the unpredictability in natural gas prices can deter investment in infrastructure projects, exploration, and developments hamper the market.
Opportunity:
Increasing global demand for energy
As a versatile and cleaner-burning fossil fuel, natural gas plays a pivotal role in meeting rising energy needs. The growing demand, particularly in emerging economies, drives increased consumption of natural gas for electricity generation, industrial processes, and residential use. Its lower carbon emissions compared to coal and oil make it an attractive choice amid the global emphasis on environmental sustainability boosting the market.
Threat:
Environmental concerns
Despite being considered a cleaner alternative to some fossil fuels, the extraction and combustion of natural gas contribute to greenhouse gas emissions and environmental degradation. Heightened awareness of climate change and environmental sustainability has led to increased scrutiny and opposition to natural gas projects. As the global shift towards cleaner energy intensifies, the Natural Gas Market faces the challenge of overcoming environmental criticisms and adapting to evolving regulatory landscapes to secure its role in the future energy transition.
Covid-19 Impact
Lockdowns and restrictions on economic activities led to a temporary reduction in industrial demand for natural gas. With decreased manufacturing and commercial operations, consumption in sectors such as manufacturing and transportation declined. Additionally, the global economic slowdown resulted in lower energy demand, affecting natural gas prices. Additionally, the global economic slowdown resulted in lower energy demand, affecting natural gas prices.
The compressed natural gas (CNG) segment is expected to be the largest during the forecast period
The compressed natural gas (CNG) segment is estimated to have a lucrative growth, owing to the adoption of CNG in vehicles, including buses, trucks, and cars, contributes to reduced emissions and aligns with the growing emphasis on sustainable energy solutions. This shift towards CNG as a transportation fuel diversifies the natural gas market's consumption patterns, creating new avenues for growth. Additionally, the demand for CNG infrastructure, including refueling stations, drives investments and stimulates market expansion.
The conventional natural gas segment is expected to have the highest CAGR during the forecast period
The conventional natural gas segment is anticipated to witness the highest CAGR growth during the forecast period, while facing increasing competition from unconventional sources like shale gas, conventional natural gas production remains crucial in meeting energy demands. The maturity of conventional gas fields and their well-established infrastructure contribute to a stable and reliable supply.
Region with largest share:
Asia Pacific is projected to hold the largest market share during the forecast period owing to the increasing energy demand, industrialization, and efforts to transition towards cleaner energy sources. Countries in the region, such as China, India, and Japan, are major consumers of natural gas, utilizing it for power generation, industrial processes, and as a cleaner alternative to other fossil fuels. Government initiatives promoting environmental sustainability and reducing air pollution contribute to the market's expansion.
Region with highest CAGR:
North America is projected to have the highest CAGR over the forecast period, with abundant natural gas reserves, including shale gas, the United States and Canada are major contributors to the market. Natural gas is a versatile energy source used for electricity generation, heating, industrial processes, and transportation. Growing emphasis on cleaner energy sources has also led to increased use of natural gas as a transitional fuel in the transition to a low-carbon energy future are encouraging the market.
Key players in the market
Some of the key players in the Natural Gas Market include Royal Dutch Shell, ExxonMobil Corporation, TotalEnergies, Gazprom, Chevron Corporation, Saudi Aramco, PetroChina Company Limited, Kinder Morgan, Inc., Occidental Petroleum Corporation, Woodside Petroleum Ltd., Cheniere Energy, Inc., Sempra Energy, TotalEnergies, ConocoPhillips, Equinor ASA, Sinopec, Qatar Petroleum, Dominion Energy, BP plc and Eni S.p.A.
Key Developments:
In January 2024, Shell agrees to sell Nigerian onshore subsidiary, SPDC. Shell will remain a major investor in Nigeria’s energy sector through its Deepwater and Integrated Gas businesses
In November 2023, ExxonMobil completes acquisition of Denbury. Under the terms of the agreement, Denbury shareholders will receive 0.84 shares of ExxonMobil for each Denbury share.
In April 2023, Shell completes restart of operations at the Pierce Field in the UK North Sea after major redevelopment to enable gas production. Pierce is a joint arrangement between Shell companies (operator, 92.52%) and Ithaca Energy (UK) Limited (7.48%.)
Product Types Covered:
• Ethane
• Propane
• Methane
• Other Product Types
Types Covered:
• Compressed Natural Gas (CNG)
• Liquefied Natural Gas (LNG)
• Hydrogen-Rich Natural Gas
• Renewable Natural Gas (RNG)
• Other Types
Sources Covered:
• Conventional Natural Gas
• Unconventional Natural Gas
Distribution Channels Covered:
• Pipeline
• Local Distribution Companies
• Direct Sales
• Other Distribution Channels
Applications Covered:
• Electricity Generation
• Industrial Processes
• Heating
• Vehicle Fuel
• Other Applications
End Users Covered:
• Commercial
• Residential
• Power Generation
• Transportation
• Other End Users
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 2021, 2022, 2023, 2026, and 2030
- 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 Product Analysis
3.7 Application Analysis
3.8 End User Analysis
3.9 Emerging Markets
3.10 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 Natural Gas Market, By Product Type
5.1 Introduction
5.2 Ethane
5.3 Propane
5.4 Methane
5.5 Other Product Types
5 Global Natural Gas Market, By Type
5.1 Introduction
5.2 Compressed Natural Gas (CNG)
5.3 Liquefied Natural Gas (LNG)
5.4 Hydrogen-Rich Natural Gas
5.5 Renewable Natural Gas (RNG)
5.6 Other Types
6 Global Natural Gas Market, By Source
6.1 Introduction
6.2 Conventional Natural Gas
6.3 Unconventional Natural Gas
7 Global Natural Gas Market, By Distribution Channel
7.1 Introduction
7.2 Pipeline
7.3 Local Distribution Companies
7.4 Direct Sales
7.5 Other Distribution Channels
8 Global Natural Gas Market, By Application
8.1 Introduction
8.2 Electricity Generation
8.3 Industrial Processes
8.4 Heating
8.5 Vehicle Fuel
8.6 Other Applications
9 Global Natural Gas Market, By End User
9.1 Introduction
9.2 Commercial
9.3 Residential
9.4 Power Generation
9.5 Transportation
9.6 Other End Users
10 Global 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 Royal Dutch Shell
12.2 ExxonMobil Corporation
12.3 TotalEnergies
12.4 Gazprom
12.5 Chevron Corporation
12.6 Saudi Aramco
12.7 PetroChina Company Limited
12.8 Kinder Morgan, Inc.
12.9 Occidental Petroleum Corporation
12.10 Woodside Petroleum Ltd.
12.11 Cheniere Energy, Inc.
12.12 Sempra Energy
12.13 TotalEnergies
12.14 ConocoPhillips
12.15 Equinor ASA
12.16 Sinopec
12.17 Qatar Petroleum
12.18 Dominion Energy
12.19 BP plc
12.20 Eni S.p.A.
List of Tables
1 Global Natural Gas Market Outlook, By Region (2021-2030) ($MN)
2 Global Natural Gas Market Outlook, By Product Type (2021-2030) ($MN)
3 Global Natural Gas Market Outlook, By Ethane (2021-2030) ($MN)
4 Global Natural Gas Market Outlook, By Propane (2021-2030) ($MN)
5 Global Natural Gas Market Outlook, By Methane (2021-2030) ($MN)
6 Global Natural Gas Market Outlook, By Other Product Types (2021-2030) ($MN)
7 Global Natural Gas Market Outlook, By Type (2021-2030) ($MN)
8 Global Natural Gas Market Outlook, By Compressed Natural Gas (CNG) (2021-2030) ($MN)
9 Global Natural Gas Market Outlook, By Liquefied Natural Gas (LNG) (2021-2030) ($MN)
10 Global Natural Gas Market Outlook, By Hydrogen-Rich Natural Gas (2021-2030) ($MN)
11 Global Natural Gas Market Outlook, By Renewable Natural Gas (RNG) (2021-2030) ($MN)
12 Global Natural Gas Market Outlook, By Other Types (2021-2030) ($MN)
13 Global Natural Gas Market Outlook, By Source (2021-2030) ($MN)
14 Global Natural Gas Market Outlook, By Conventional Natural Gas (2021-2030) ($MN)
15 Global Natural Gas Market Outlook, By Unconventional Natural Gas (2021-2030) ($MN)
16 Global Natural Gas Market Outlook, By Distribution Channel (2021-2030) ($MN)
17 Global Natural Gas Market Outlook, By Pipeline (2021-2030) ($MN)
18 Global Natural Gas Market Outlook, By Local Distribution Companies (2021-2030) ($MN)
19 Global Natural Gas Market Outlook, By Direct Sales (2021-2030) ($MN)
20 Global Natural Gas Market Outlook, By Other Distribution Channels (2021-2030) ($MN)
21 Global Natural Gas Market Outlook, By Application (2021-2030) ($MN)
22 Global Natural Gas Market Outlook, By Electricity Generation (2021-2030) ($MN)
23 Global Natural Gas Market Outlook, By Industrial Processes (2021-2030) ($MN)
24 Global Natural Gas Market Outlook, By Heating (2021-2030) ($MN)
25 Global Natural Gas Market Outlook, By Vehicle Fuel (2021-2030) ($MN)
26 Global Natural Gas Market Outlook, By Other Applications (2021-2030) ($MN)
27 Global Natural Gas Market Outlook, By End User (2021-2030) ($MN)
28 Global Natural Gas Market Outlook, By Commercial (2021-2030) ($MN)
29 Global Natural Gas Market Outlook, By Residential (2021-2030) ($MN)
30 Global Natural Gas Market Outlook, By Power Generation (2021-2030) ($MN)
31 Global Natural Gas Market Outlook, By Transportation (2021-2030) ($MN)
32 Global Natural Gas Market Outlook, By Other End Users (2021-2030) ($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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