Global Industrial And Commercial Natural Gas Distribution Market 2024 , Forecast To 2033
7 Mar, 2024
The industrial and commercial natural gas distribution market has shown strong growth, increasing from $812.85 billion in 2023 to $882.52 billion in 2024, with a CAGR of 8.6%. This growth is attributed to factors such as economic growth and energy diversification. Looking ahead, the market is expected to continue its strong growth, reaching $1206.29 billion in 2028 at a CAGR of 8.1%. Factors driving this growth include the transition to a low-carbon economy and shale gas developments. Major trends may include digitalization and innovation in gas storage technologies.
Global Industrial And Commercial Natural Gas Distribution Market Key Driver
The growth in the industrial and commercial natural gas distribution market (10) is due to higher disposable income and rising demand from commercial customers. Rising demand from commercial customers is expected to propel the growth of the industrial and commercial natural gas distribution market going forward. A commercial customer means a customer who performs or produces a service or product which is a source of revenue to the customer. Commercial customers use natural gas for household purposes such as cooking and operating refrigeration and cooling equipment. For instance, according to the U.S. Electricity Information Administration, in 2021, commercial usage accounted for about 11% of total U.S. natural gas consumption and natural gas sources for about 19%, driving the growth of the natural gas distribution market (11).
Get A Free Sample Of The Global Industrial And Commercial Natural Gas Distribution Market ReportGlobal Industrial And Commercial Natural Gas Distribution Market Segments
The industrial and commercial natural gas distribution market covered in this report is segmented –
1) By Type: Industrial Natural Gas Distribution, and Commercial Natural Gas Distribution
2) By Source: Associated Gas, Non Associated Gas, Unconventional Sources
3) By End User: Light Duty Vehicles, Medium Or Heavy Duty Buses, Medium Or Heavy Duty Trucks
By Geography: The countries covered in the industrial and commercial natural gas distribution market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain
Asia-Pacific was the largest region in the industrial and commercial natural gas distribution market in 2023.The regions covered in the industrial and commercial natural gas distribution market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, Africa.
Major Industrial And Commercial Natural Gas Distribution Industry Players
Gas Natural Sdg SA; Ultrapar Participacoes SA; Air Liquide SA; Korea Gas Corp.; Sempra Energy; National Grid plc; Dominion Energy Inc.; Enbridge Inc.; Southern Company Gas; Atmos Energy Corporation; ONEOK Inc.; CenterPoint Energy Inc.; DTE Energy Company; Xcel Energy Inc.; Duke Energy Company; Southwest Gas Holdings Inc.; Spire Inc.; New Jersey Resources Corporation; Northwest Natural Holding Company; South Jersey Industries Inc.; Eversource Energy; Chesapeake Utilities Corporation; Black Hills Corporation; AltaGas Ltd.; Emera Incorporated; Connecticut Natural Gas Corporation.; Avista Corporation; MDU Resources Group Inc.; Summit Utilities Inc.; UGI Utilities Inc.
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Industrial And Commercial Natural Gas Distribution Market Overview
Industrial and commercial natural gas distribution refers to a system that is used to operate gas distribution systems. Industrial and commercial natural gas refers to natural gas used for industrial and commercial purposes such as steam generation, metal casting, metal tempering, electricity generation, and as a fuel for commercial vehicles.