The US natural gas market, a significant component of the global energy landscape, is projected to experience robust growth over the forecast period (2025-2033). Driven by increasing demand from the power generation sector, a shift towards cleaner energy sources (compared to coal), and ongoing industrialization, the market is poised for expansion. The abundance of shale gas reserves within the US contributes significantly to this growth, making the nation a key player in global natural gas production and trade. While challenges exist, such as fluctuating prices influenced by global supply chains and environmental concerns regarding methane emissions, technological advancements in extraction and infrastructure development are mitigating these risks. The residential sector also contributes to market growth, albeit at a slower rate compared to power generation and industrial applications. Competition among major players like ExxonMobil, Chevron, and ConocoPhillips, fuels innovation and efficiency improvements within the industry. The market segmentation by gas type (wet and dry) further reflects the diverse applications and evolving needs of consumers and industries. Assuming a conservative CAGR of 5% based on the provided information, and a 2025 market size of approximately $300 billion (a reasonable estimate considering the scale of the US energy market), we can project substantial growth throughout the forecast period. Growth is expected to be most pronounced in regions with strong industrial activity and expanding power grids. The specific growth trajectory will depend on factors such as government policies promoting natural gas utilization (or potentially phasing it out), technological advancements, and global geopolitical events impacting energy prices. Nonetheless, the US natural gas market is expected to maintain its position as a major contributor to the national energy supply and a significant player in the global energy market. Further analysis of specific segments (e.g., wet vs. dry natural gas within each end-use sector) would provide more granular insights into market dynamics and investment opportunities. The overall outlook remains positive, projecting significant value creation and economic benefits over the next decade. Recent developments include: May 2022: According to the US Energy Information Administration, the Natural Gas Pipeline Project Tracker was updated with recent approvals and completions of pipeline projects. As of the end of the first quarter of 2022, the Federal Energy Regulatory Commission (FERC) approved three projects to increase the export of US natural gas by pipeline and LNG. FERC approved two projects connecting LNG terminals in Louisiana. The Evangeline Pass Expansion Project, owned by Tennessee Gas Pipeline Company, is 1.1 billion cubic feet in size. It is intended that the proposed Plaquemines LNG Project in Plaquemines Parish, Louisiana, be supplied with natural gas by constructing 13.1 miles of new pipeline and two new compressor stations., April 2022: TotalEnergies signed a Heads of Agreement (HOA) with Sempra Infrastructure, Mitsui & Co., Ltd., and Japan LNG Investment for the expansion of Cameron LNG, a liquefied natural gas (LNG) production and export facility located in Louisiana, United States. The expansion project includes the development of a fourth train with a production capacity of 6.75 million metric tons per annum (Mtpa), as well as the debottlenecking of the first three trains to increase production by 5%.. Notable trends are: Power Generation Segment to Dominate the Market.

Raw Federal Energy Regulatory Commission (FERC) Form 2 data, archived from https://www.ferc.gov/industries-data/natural-gas/industry-forms/form-2-2a-3-q-gas-historical-vfp-data

This archive contains raw input data for the Public Utility Data Liberation (PUDL) software developed by Catalyst Cooperative. It is organized into Frictionless Data Packages. For additional information about this data and PUDL, see the following resources:

• The PUDL Repository on GitHub
• PUDL Documentation
• Other Catalyst Cooperative data archives

The size of the US Natural Gas Market was valued at USD XX Million in 2023 and is projected to reach USD XXX Million by 2032, with an expected CAGR of 5.00">> 5.00% during the forecast period. The natural gas market in the United States is a crucial component of the nation's energy landscape, involving the production, transportation, and utilization of natural gas, which is essential for electricity generation, heating, and various industrial applications. This market is notably influenced by the significant development of domestic shale gas resources, particularly from regions such as the Marcellus and Permian basins, which have greatly increased production levels in the U.S. As a result, the country has emerged as one of the foremost producers and exporters of natural gas globally. The market is supported by a comprehensive infrastructure, featuring an extensive network of pipelines, storage facilities, and liquefied natural gas (LNG) export terminals that enable effective distribution and international trade. The growth of natural gas usage has been propelled by its comparatively lower carbon emissions relative to coal and oil, aligning with environmental standards and sustainability objectives. Nevertheless, the market encounters challenges, including price fluctuations, changes in regulations, and environmental issues associated with hydraulic fracturing and methane emissions. In spite of these obstacles, the U.S. natural gas market continues to thrive, with ongoing investments in infrastructure and technology focused on improving efficiency and minimizing environmental effects. Ultimately, this market is vital to the nation's energy framework, enhancing energy security and fostering economic development. Recent developments include: May 2022: According to the US Energy Information Administration, the Natural Gas Pipeline Project Tracker was updated with recent approvals and completions of pipeline projects. As of the end of the first quarter of 2022, the Federal Energy Regulatory Commission (FERC) approved three projects to increase the export of US natural gas by pipeline and LNG. FERC approved two projects connecting LNG terminals in Louisiana. The Evangeline Pass Expansion Project, owned by Tennessee Gas Pipeline Company, is 1.1 billion cubic feet in size. It is intended that the proposed Plaquemines LNG Project in Plaquemines Parish, Louisiana, be supplied with natural gas by constructing 13.1 miles of new pipeline and two new compressor stations., April 2022: TotalEnergies signed a Heads of Agreement (HOA) with Sempra Infrastructure, Mitsui & Co., Ltd., and Japan LNG Investment for the expansion of Cameron LNG, a liquefied natural gas (LNG) production and export facility located in Louisiana, United States. The expansion project includes the development of a fourth train with a production capacity of 6.75 million metric tons per annum (Mtpa), as well as the debottlenecking of the first three trains to increase production by 5%.. Key drivers for this market are: Increasing Global Demand for Refined Petroleum Products4., Economic Growth and Industrialization. Potential restraints include: Environmental Concerns and Regulations. Notable trends are: Power Generation Segment to Dominate the Market.

Abstract of associated article: This study examines the cointegration between city-gate and residential retail natural gas prices at the U.S. state level using monthly data from 1989:1 to 2012:12. Both price series are tested for unit roots using the Harris (2009) procedure to endogenously identify structural breaks related to deregulation associated with FERC Order No. 636. The endogenously determined structural breaks are then used in the Saikkonen and Lütkepohl (2000a, 2000b, 2000c) maximum likelihood approach to test cointegration of the series. Tests show cointegration of the two price series for all 50 states. Estimates of the long-run relationship in the pre- and post-structural break periods result in mixed evidence about the degree of perfect market integration induced by deregulation, although the magnitude and variation of parameters indicate increased integration. A vector error correction model is used to infer causality in the short and long-run dynamics for the pre and post-structural break periods for each state. The post-break period exhibits bidirectional causality in both short and long-run dynamics for all states, an indication of greater downstream integration of the natural gas market.

Over the past five years, the US gas pipeline industry has experienced modest but stable growth, with a chief driver being the continued expansion and modernization of pipeline networks amid robust demand for natural gas. The sector has benefited from the strategic importance of natural gas for electric power generation, rapid LNG export growth and industrial activity, all contributing to higher throughput across the pipeline grid. As gas pipeline operators navigated pandemic-induced pressures in 2020, long-term contracts provided revenue and profit stability while production surged in response to rising natural gas prices and the shale boom. These dynamics, in combination with heightened European demand following sanctions on Russian gas, allowed the industry to strengthen profitability and maintain high asset utilization. Industry profit remains robust, with profit accounting for 42.4% of revenue in 2025. In this environment, the industry’s current five-year revenue CAGR stands at 1.3%, with this year’s growth rate at 1.6% and total revenue reaching $42.4 billion by the end of 2025. Mergers and acquisitions have continued at a moderate pace, signaling increasing industry maturity as larger operators pursue consolidation to realize cost efficiencies, expand geographic reach and optimize existing infrastructure rather than focusing on new construction. This consolidation has been accompanied by significant investment in new technologies, such as predictive maintenance, advanced leak detection, digital control systems and infrastructure modernization. The industry has also seen the benefit of government support for LNG infrastructure and new build approvals, but remains challenged by permitting hurdles and regulatory uncertainty in certain regions. Even as renewables and electrification initiatives gather momentum, natural gas maintains a key role as a reliable, lower-carbon transitional fuel, especially for meeting the needs of sectors driven by data centers and plastics manufacturing. Looking ahead, the outlook for the US gas pipeline industry is defined by a balancing act between moderate growth and the realities of energy transition. Long-term contracts, modernization investments and a sustained role for natural gas in power generation and industrial uses drive industry expansion. Profitability is forecast to rise to 43.1% of revenue by 2030, aided by efficiency gains and infrastructure upgrades. Over the next five-year period, industry revenue is projected to grow at a CAGR of 1.1%, reaching $44.8 billion by the end of 2030, as the sector adapts to evolving regulations, green energy policies and changing global trade dynamics.

Raw Federal Energy Regulatory Commission (FERC) Form 1 data, archived from https://www.ferc.gov/industries-data/electric/general-information/electric-industry-forms/form-1-electric-utility-annual

This archive contains raw input data for the Public Utility Data Liberation (PUDL) software developed by Catalyst Cooperative. It is organized into Frictionless Data Packages. For additional information about this data and PUDL, see the following resources:

• The PUDL Repository on GitHub
• PUDL Documentation
• Other Catalyst Cooperative data archives

In 1978, the Natural Gas Policy Act (NGPA) was enacted t o introduce measures which would increase the supply of natural gas and provide a gradual transition for the deregulation of natural gas through the use of price incentives and decontrol of gas prices. . Higher allowable prices were provided for new, high-cost, and stripper well gas to encourage exploration of these reserves(Tobin, Shambaugh, and Van Wagener 1989) . Table 1 lists the new, high-cost, and stripper well section-categories as defined under NGPA by the Federal Energy Regulatory Commission (FERC) .