Natural Gas Market is Anticipated to Increase at a Stable CAGR over the Forecast Period (2023 to 2029)

The global natural gas market is anticipated to grow at a CAGR of 7.5% during the forecast period (2023-2030). Increasing pollution and global warming has impacted almost every industry globally. industries are shifting on the use of natural gas as fuel for production as well as the households as it’s a cost efficient, affordable and eco-friendly. There is an exponential increase in the number of methane gas users which has broaden the application of natural gas in the residential, commercial, and industrial markets. Thus, another key factor bolstering the market growth includes the rising demand for natural gas from residential and commercial sector. The natural gas has 2 major applications in residential market including heating and cooling. According to US energy information administration. 

According to the Environmental Impact Assessment (EIA), in 2022, the residential sector accounted for about 15% of total the US natural gas consumption, and natural gas was the source of about 42% of US residential sector end-use energy consumption. About 60% of U.S. homes use natural gas for space and water heating, cooking, and drying clothes. Additionally, due to the Russia-Ukraine war Russian has halted the supply of natural gas to the other European countries which seems to impact the global market adversely. However, during the same time-period, the US grabbed the opportunity and became the largest exporter of natural gas around the globe. For instance, in April 2023, the US assured to keep sending large supplies of liquefied natural gas (LNG) to European Union (EU) ports as the continent aims to continue weaning itself off Russian energy supplies. 

Another factor supporting the market growth includes the growing adoption of strategic initiatives such as mergers and acquisitions, partnerships, and product launches by various organizations. For instance, in June 2021, the United States, the European Union, with 11 countries launched the Global Methane Pledge Energy Pathway to catalyze methane emissions reductions in the oil and gas sector, advancing both climate progress and energy security. Tackling methane emissions in the oil and gas sector is critical to achieving the Global Methane Pledge target and will also bolster global energy security by preventing the needless waste of valuable gas resources.

To Request a Sample of our Report on Natural Gas Market:  https://www.omrglobal.com/request-sample/natural-gas-market

Market Coverage

•                 The market number available for – 2022-2030

•                 Base year- 2022

•                 Forecast period- 2023-2030

Segment Covered- 

•                 By Type

•                 By Application

Regions Covered-

•                 North America

•                 Europe

•                 Asia-Pacific

•                 Rest of the World

Competitive Landscape- includes Chevron Corp., ConocoPhillips, Devon energy, Eni, Exxon Mobil Corp., and others.

A full Report of Natural Gas Market is Available @  https://www.omrglobal.com/industry-reports/natural-gas-market

Natural Gas Market Report Segment

By Type

•                 Methane

•                 Ethane

•                 Propane

•                 Butane 

By Application

•                 Industrial

•                 Electric Power

•                 Transportation

•                 Residential

•                 Commercial

Natural Gas Market Report Segment by Region

North America                                                                                                           

·        United States

·        Canada                     

Europe

·        UK

·        Germany

·        Spain

·        France

·        Italy

·        Rest of Europe

Asia-Pacific

·                  India

·                  China

·                  Japan              

·                  South Korea

·                  Rest of APAC

Rest of the World

•       Latin America

•       Middle East and Africa 

Company Profiles

•                 ConocoPhillips 

•                 Devon energy corp.

•                 Eni S.p.A.

•                 Exxon Mobil Corp.

•                 GAZPROM NEFT PJSC 

•                 General Electric 

•                 Husky energy Inc.

•                 PJSC LUKOIL

•                 NGL Energy Partners LP

•                 Occidental Petroleum Corp .

•                 Petrochina Co Ltd.

•                 Shell Plc. 

•                 Virginia Natural Gas, Inc.

•                 VNG AG?

Reasons to buy from us –

1.  We cover more than 15 major industries, further segmented into more than 90 sectors.

2.  More than 120 countries are for analysis.

3.  Over 100+ paid data sources mined for investigation.

4.  Our expert research analysts answer all your questions before and after purchasing your report.

For More Customized Data, Request for Report Customization @ https://www.omrglobal.com/report-customization/natural-gas-market

About Orion Market Research

Orion Market Research (OMR) is a market research and consulting company known for its crisp and concise reports. The company is equipped with an experienced team of analysts and consultants. OMR offers quality syndicated research reports, customized research reports, consulting and other research-based services. The company also offer Digital Marketing services through its subsidiary OMR Digital and Software development and Consulting Services through another subsidiary Encanto Technologies.

Media Contact:

Company Name: Orion Market Research

Contact Person: Mr. Anurag Tiwari

Email: info@omrglobal.com

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