Natural Gas Market 2021 to Demonstrate Spectacular Growth By 2027

This increase in investments in the upstream oil & gas sector across the world is expected to propel the global natural gas market during the forecast period. Significant advancements in high energy-intensive industries, including power, water desalination, refining, fertilizers, and petrochemicals have increased the utilization of natural gas over the years. The residential natural gas market is expected to witness significant growth due to rise in population base, rapid urbanization accompanied by increase in energy consumption levels. The demand in the residential sector is widely driven by cooking and heating applications.

The global natural gas market is expected to grow significantly over the forecast period. This growth is attributed to rise in investments in upstream projects, various applications in industries, increase in population, and growth in urbanization. The rise in population and increase in industrial development have been increasing the demand for energy across the world. Oil & gas operators are increasing investments in oil & gas fields.

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The Saudi Arabia natural gas market is expected to be the market leader over the years. Increase in emphasis on unconventional gas production along with steady rise in consumption rates would support the growth in the industry. Moreover, the country lifted the self-imposed moratorium on the development of offshore North Field, the world’s largest gas reservoir, which is further anticipated to boost the market growth in the region. Asia-Pacific is also expected to grow significantly over the forecast period. South America is expected to grow in a moderate rate and is the smallest region in the global natural gas market.

Key Players in natural gas market are Royal Dutch Shell PLC, Exxon Mobil, GAZPROM NEFT, Chevron Corporation, Total, ConocoPhillips, Statoil, Occidental Petroleum Corporation, Lukoil, British Petroleum, Abu Dhabi National Oil Company (ADNOC), Saudi Aramco, Petroleum Development Oman, General Electric, Qatar Petroleum, Eni, ONGC Videsh, Rosneft, Petrobras, Dana Gas, Bahrain Natural Gas (Banagas), and Bahrain Petroleum Company.

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Key benefits of the report:

• This study presents the analytical depiction of the natural gas market along with the current trends and future estimations to determine the imminent investment pockets.

• The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the natural gas market share.

• The current market is quantitatively analyzed from 2020 to 2027 to highlight the natural gas market growth scenario.

• The report provides a detailed analysis based on competitive intensity and how the competition will take shape in coming years.

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