Natural Gas Market Characteristics
The natural gas market consists of sales of natural gas by entities (organizations, sole traders and partnerships) that carry out the exploration, development and production of natural gas by using pumping technologies and systems.
Competitive Landscape of the Natural Gas Market
Major players in the global natural gas market include PetroChina Co Ltd, Husky Energy Inc, NGL Energy Partners LP, Devon Energy Corp, VNG - Verbundnetz Gas Aktiengesellschaft.
Natural Gas Market Size
The natural gas market size is expected to reach a higher value by 2022, significantly growing at a steady CAGR during the forecast period. The growth in the natural gas market is due to increased global economic activity, refined petroleum from developing nations is expected to drive the market in the future.
However, the market for natural gas is expected to face certain restraints from several factors such as regulations surrounding carbon emissions, the rapid decline in oil and gas prices.
Natural Gas Market Segmentation
The global natural gas market is further segmented based on type and geography.
By Type - The natural gas market is segmented into transport, industrial, electric power, others.
By Geography - The global natural gas is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, the Asia-pacific natural gas market accounts the largest share in the global natural gas market.
Trends in the Natural Gas Market
Crude oil and natural gas extraction companies are making significant investments in renewable sources of power for sustainable extraction of crude oil and natural gas from oil fields. Crude oil and natural gas production is energy intensive and renewable technologies like solar, wind, biomass, and geothermal are being used in producing crude oil and natural gas at lower costs and lower emissions, is the major trends witnessed in the global natural gas market.
Potential Opportunities in the Natural Gas Market
With greater stability in the oil and gas industry and high consumption of refined petroleum, the scope and potential for the global natural gas market is expected to significantly rise in the forecast period.