Press release
Natural Gas Market Growth Fueled by High CAGR and Cleaner Energy Transition
Natural Gas Market
What Is The Projected Market Size Of The Global Natural Gas Market And Its Growth Rate?
The global natural gas market has been experiencing robust growth in recent years:
• The market size was $1160.38 billion in 2024 and is projected to reach $1262.5 billion in 2025, growing at a CAGR of 8.8%.
• This growth trend is expected to continue, reaching $1670.84 billion in 2029 at a CAGR of 7.3%.
The strong growth in both the historic and forecast period can be attributed to factors such as electricity generation, industrial applications, residential and commercial heating, and increased demand in emerging markets.
What Is Driving The Growth In The Natural Gas Market?
Economic activity on a global scale, inclusive of increased usage of electricity and refined petroleum from developing nations, is seen to be the driving force behind the growth in the natural gas market. Furthermore, the rise in usage of the electric power sector is forecasted to propel the growth of the market further.
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Who Are the Key Players Driving Natural Gas Market Growth?
Several key players play a pivotal role in propelling the growth of the natural gas market worldwide, including:
• Sinopec Group
• China National Petroleum Company
• Exxon Mobil Corporation
• PetroChina Co. Ltd.
• Royal Dutch Shell plc
• TotalEnergies SE
• Chevron Corporation
• Equinor ASA
What Are The Key Trends In The Natural Gas Market?
Key trends forging the growth trajectory of the natural gas market include:
• Infrastructure development for gas transport globally
• Increasing use of natural gas in industrial processes
• Natural gas in the transportation sector
• Market dynamics shaped by shale gas production
• Integration of renewable natural gas (RNG)
What Are The Segments Of The Global Natural Gas Market?
The global natural gas market has been segmented by:
1) Type: Transport, Industrial, Electric Power, Other Types
2) Source: Associated Gas, Non Associated Gas, Unconventional Sources
3) End User: Light Duty Vehicles, Medium Or Heavy Duty Buses, Medium Or Heavy Duty Trucks
Which Region Leads The Natural Gas Market?
Asia-Pacific was the largest region contributing to the natural gas market's grandeur in 2024. This region is expected to maintain its domination across the market, in the years to come.
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What Is Covered In The Natural Gas Market Global Market Report?
- Market Size Analysis: Analyze the Natural Gas Market size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Identify various subsegments within the Natural Gas Market for effective categorization.
- Key Player Focus: Focus on key players to define their market value, share, and competitive landscape.
- Growth Trends Analysis: Examine individual growth trends and prospects in the Market.
- Market Contribution: Evaluate contributions of different segments to the overall Natural Gas Market growth.
- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
- Industry Challenges: Analyze challenges and risks affecting the Natural Gas Market.
- Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.
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