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Global Natural gas Industry Report: Analysis and Forecast 2022-2027

Global Natural gas Industry Report: Analysis and Forecast 2022-2027

Regional Category Spend, Price Analysis, Key Demand and Price Indicators, and Best Buying Practices by a Natural Gas industry report

The Natural Gas industry produced a volume of 3,999 billion tonnes in 2021. In the projection period of 2022-2027, the industry is expected to grow at a CAGR of around 5.2 percent, producing a volume of around 5,399 billion tonnes by 2027.

The natural gas report broadly studies the industry, together with important segments, movements, drivers, constraints, the competitive landscape, and other critical market features. According to projections, the international natural gas industry would grow quickly between 2021 and 2031. While worldwide oil and gas production is dropping, natural gas demand, which is cleaner and more useful, is predicted to increase in the coming years. North America and the Asia Pacific are the biggest category spender by region which is impelling the demand for the natural gas industry.

Natural Gas: Industry Definition and Segmentation

Scope

Natural gas is a nonrenewable fuel made primarily of methane and other flammable hydrocarbons that are widely used for cooking and heating. It is also the most widely accepted fuel source due to its efficiency and clean-burning characteristics.

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The natural gas industry report comprises segments:

  • By type – ethane, methane, propane, and others
  • By source – Conventional and unconventional
  • By application – Automotive, Power Generation, Household, and Industrial
  • By regions – North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.

Snapshot of the Report

The regional markets for the industry can be divided into North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.

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Category Drivers

Natural gas is an environmentally favourable fuel that is widely used in light-duty vehicles, resulting in increased demand for these vehicles and the growth of the sector. Furthermore, the light-duty vehicle segment of the global compressed natural gas (CNG) market is the most profitable, with the greatest investment potential, due to the increased use of CNG in several metropolitan cities around the world to reduce air pollution and lower the cost of CNG relative to other fossil fuels.

Category Insight by Region

North America is predicted to be the leading region in the market due to the substantial usage of natural gas for commercial, industrial, and residential purposes in countries such as the United States and Canada. The Asia Pacific region, on the other hand, dominated the worldwide natural gas distribution market in 2020, with a 28 percent share, followed by Eastern Europe and South America. In addition, the growing preference for cleaner and more efficient energy sources, as well as their use in a variety of disciplines, are key market drivers. Furthermore, the growing demand to reduce carbon footprints is expected to propel the market forward in the approaching years.

Furthermore, the growing demand to reduce carbon footprints is expected to propel the market forward in the approaching years. Government initiatives and actions, such as subsidies, may encourage increased use of natural gas, hence propelling the market’s total growth. Progress in economic conditions and rapid urbanisation are two more aspects that could aid boost market growth in the future.

Best Procurement Practices

The global Natural gas industry report by Procurement Resource gives an in-depth analysis of the best buying practices followed by the major customers of natural gas products across the globe, such as engagement models, contract terms, and buyer and supplier negotiation levers, among others.

Category Management Studies

Over millions of years, layers of decomposing vegetation and animal matter are exposed to tremendous heat and pressure beneath the Earth’s surface, resulting in natural gas. The sun’s energy is stored by plants in the form of chemical bonds, which afterward transform into gas, and this fossil fuel is known as natural gas. Exploration, development, and production of natural gas are all carried out by natural gas businesses employing pumping methods and systems. Thermal recovery, gas injection, and chemical flooding are the three most popular methods for creating gas.

Key Supplier Profiles included in the Global Natural Gas Industry Report

The key market players are oil and Natural Gas Corporation, Oil India Limited, Reliance Industries, Indian Oil Corporation Limited, and Punj Lloyd Limited.

The report covers capacity additions, plant shutdowns, investments/divestments, mergers and acquisitions, and other latest developments of the suppliernutms.

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Procurement Resource ensures that our clients remain at the vanguard of their industries by providing actionable procurement intelligence with the help of our expert analysts, researchers, and domain experts. Our team of highly seasoned analysts undertake extensive research to provide our customers with the latest and up-to-date market reports, cost-models, price analysis, benchmarking, and category insights, which aid in simplifying the procurement process for our clientele. We work with a diverse range of procurement teams across industries to get real-time data and insights that can be effectively implemented by our customers. We also track the prices and production costs of an extensive range of goods and commodities, thus, providing you with the updated and reliable data. We, at Procurement Resource, with the help of the latest and cutting-edge techniques in the industry, help our clients understand the supply chain, procurement, and industry climate, so that they can form strategies which ensure their optimum growth.

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Procurement Resource

Procurement Resource ensures that our clients remain at the vanguard of their industries by providing actionable procurement intelligence with the help of our expert analysts, researchers, and domain experts.