Natural gas fell to 3.39 USD/MMBtu on July 4, 2025, down 1.74% from the previous day. Over the past month, Natural gas's price has fallen 7.91%, but it is still 46.02% higher than a year ago, according to trading on a contract for difference (CFD) that tracks the benchmark market for this commodity. Natural gas - values, historical data, forecasts and news - updated on July of 2025.

TTF Gas fell to 33.36 EUR/MWh on July 4, 2025, down 1.04% from the previous day. Over the past month, TTF Gas's price has fallen 8.96%, but it is still 1.05% higher than a year ago, according to trading on a contract for difference (CFD) that tracks the benchmark market for this commodity. EU Natural Gas TTF - values, historical data, forecasts and news - updated on July of 2025.

The average monthly price for natural gas in the United States amounted to **** nominal U.S. dollars per million British thermal units (Btu) in May 2025. By contrast, natural gas prices in Europe were about three times higher than those in the U.S. Prices in Europe tend to be notably higher than those in the U.S. as the latter benefits from being a major hydrocarbon producer. Europe's import reliance European prices for natural gas rose most notable throughout the second half of 2021 and much of 2022, peaking at over ** U.S. dollars per million Btu in August 2022. The sharp rise was due to supply chain issues and economic strain following the COVID-19 pandemic, which was further exacerbated by Russia’s invasion of Ukraine in early 2022. As a result of the war, many countries began looking for alternative sources, and Russian pipeline gas imports to the European Union declined as a result. Meanwhile, LNG was a great beneficiary, with LNG demand in Europe rising by more than ** percent between 2021 and 2023. How domestic natural gas production shapes prices As intimated, the United States’ position among the leaders of worldwide natural gas production is one of the main reasons for why prices for this commodity are so low across the country. In 2023, the U.S. produced more than ************ cubic meters of natural gas, which allays domestic demand and allows for far lower purchasing prices.

United States Natural Gas: Spot Price: Henry Hub-I data was reported at 3.260 USD/MN BTU in 05 May 2025. This records an increase from the previous number of 3.100 USD/MN BTU for 02 May 2025. United States Natural Gas: Spot Price: Henry Hub-I data is updated daily, averaging 2.930 USD/MN BTU from Jan 1997 (Median) to 05 May 2025, with 7145 observations. The data reached an all-time high of 23.860 USD/MN BTU in 17 Feb 2021 and a record low of 1.210 USD/MN BTU in 11 Nov 2024. United States Natural Gas: Spot Price: Henry Hub-I data remains active status in CEIC and is reported by U.S. Energy Information Administration. The data is categorized under World Trend Plus’s Commodity Market – Table US.P026: Petroleum Spot Price: Energy Information Administration. Previously named as Henry Hub Released once a week (every Wednesday) with data from Wednesday to Friday of the previous week up to Tuesday of the current week. If Wednesday falls on a holiday, the data will be released on the next business day. Price spike on Feb 11 to 18, 2021 data was caused by the effect of decline in natural gas production brought about by the cold wave experienced during the month. Price spike on Jan 12, 2024 data was caused by the anticipation of increased natural gas consumption because of the weather forecast for well-below-normal temperatures for most of the United States over the long weekend. [COVID-19-IMPACT]

Natural gas production in Italy was around 3.3 billion cubic meters in 2021. However, the domestic production of this fossil fuel was projected to increase to six billion cubic meters by 2025 and to seven in the following years. In the past years, natural gas production in Italy decreased from over eight billion cubic meters in 2012.

Behind this forecast This 2022 forecast was made after the decision of the Italian government to increase the number of natural gas drilling sites in the country. Over the last decades, the number of onshore and offshore natural gas producing wells decreased by half, but this trend is expected to be reversed. Natural gas has a key role in the decarbonization strategy of Italy, since it is the fossil fuel with the lowest carbon dioxide emission per kilowatt-hour of energy produced. Besides environmental reasons, driving the Italian energy policy is the current energy crisis. In 2022, Italy was still strongly reliant on natural gas supply from other countries, mainly Algeria, which replaced Russian imports of natural gas.

Natural gas prices The natural gas price for households in Italy reached an all-time high in 2022. After a small decrease, the price is expected to increase again because of the lack of flexibility in Algerian natural gas exports and the start of winter. Even though Italian natural gas storage facilities were over 90 percent full in autumn 2022, no policy regulates the supply of natural gas from Italian reserves.

The price of gas in the United Kingdom was 106 British pence per therm in the fourth quarter of 2024. It is anticipated gas prices will increase to 131 pence in the second quarter of 2025 before gradually falling to just under 80 pence by the second quarter of 2027.
Surging energy costs and the cost of living crisis At the height of the UK's cost of living crisis in 2022, approximately 91 percent of UK households were experiencing rising prices compared with the previous month. It was during 2022 that the UK's CPI inflation rate reached a peak of 11.1 percent, in October of that year. Food and energy, in particular, were the main drivers of inflation during this period, with energy inflation reaching 26.6 percent, and food prices increasing by 18.2 percent at the height of the crisis. Although prices fell to more expected levels by 2024, an uptick in inflation is forecast for 2025, with prices rising by 3.7 percent in the third quarter of the year. Global Inflation Crisis The UK was not alone in suffering rapid inflation during this time period, with several countries across the world experiencing an inflation crisis. The roots of the crisis began as the global economy gradually emerged from the COVID-19 pandemic in 2021. Blocked-up supply chains, struggled to recover as quickly as consumer demand, with food and energy prices also facing upward pressure. Russia's invasion of Ukraine in February 2022 led to Europe gradually weening itself of cheap Russian energy exports, while for several months Ukraine struggled to export crucial food supplies to the rest of the World.

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Gas Meter Market - 2021-2025

The gas meter market size is expected to reach a value of USD 3.43 billion, at a CAGR of 8.53%, during 2021-2025. This research study helps in a deep understanding of the underlying forces driving the market growth and current and potential target customers across segmentations. According to our comprehensive survey, factors such as smart meters enable efficient use of gas are projected to significantly support market growth during the forecast period. Our research experts have thoroughly evaluated and covered the latest trends and challenges that will have a far-reaching effect on the market growth.

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Gas Meter Market Segments

From this Technavio report, get actionable insights on the gas meter market segments to generate successful ROIs and focus your business strategy efforts where they are most likely to be effective. Navigate through market segmentation by product (smart gas meter and basic gas meter) and geography (North America, Europe, APAC, MEA, and South America) in this gas meter market report to pursue growth opportunities.

Also, our market research experts have evaluated the impact of COVID-19 across market segments for our clients to understand the long-term business implications and foresee opportunities for subsequent recovery. This research report entails a thorough qualitative and quantitative analysis on the post-pandemic gas meter market predictions on consumer demand changes for 2021-2025.

Gas Meter Market Vendors and Competitive Analysis

    Technavio research specialists have included significant well-thought-out business planning approaches of key players in this report. The gas meter market is fragmented and the vendors are deploying organic and inorganic growth strategies to gain a competitive advantage.

    The unprecedented outbreak of COVID-19 last year impacted market segments that has had a ripple effect on various stakeholders. To make the most of the opportunities and recover from post COVID-19 impact, the market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments. Get the full report to understand the COVID-19 impact on the growth of the gas meter market share during 2021-2025.

    The gas meter market forecast report comprises complete key vendor profiles. The profiles include information on the production, sustainability, prospects of the leading companies, and other crucial vendor landscape analysis.

Gas Meter Market - Region Opportunities 2021-2025

34% of the gas meter market growth will originate from North America during the forecast period. The US is the key market for gas meter market in North America. This report encompasses exclusive information on potential business locations and understand the demographics of current and prospective customers.

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North America has been exhibiting a significant growth rate for gas meter market vendors. Factors such as the increased production of natural gas are accelerating the gas meter market growth in North America. To view our in-depth analytical review on the micro and macroeconomic factors impacting businesses in the regions click on the image above.

The gas meter market share growth in North America will be slower than the growth of the market in regions such as APAC and MEA. The geographical segmentation in the report has assessed and included details on the competitive intelligence and regional opportunities in store for vendors.

Gas Meter Market Insights by Product

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The gas meter market share growth by the smart gas meter segment will be significant during the forecast period. The smart gas meter segment is expected to grow rapidly during the forecast period as the end-users are increasingly preferring smart gas meters compared to basic gas meters. This report provides an accurate prediction of the contribution of all the segments to the growth of the gas meter market size.

From the gas meter market segmentation insights, players can achieve maximum market response by understanding the target consumers. The analytical data on the segmentations will allow vendors to position their services and products among the right audiences and gain significant exposure and growth. Also, get updated actionable market insights on post COVID-19 impact on each segment.

Gas Meter Market Drivers & Trends

While it is crucial to have a solid understanding of the drivers and trends, it is also imperative that the market challenges are recognized to improvize

UK Gas fell to 79.41 GBp/thm on July 4, 2025, down 0.42% from the previous day. Over the past month, UK Gas's price has fallen 7.50%, but it is still 3.01% higher than a year ago, according to trading on a contract for difference (CFD) that tracks the benchmark market for this commodity. UK Natural Gas - values, historical data, forecasts and news - updated on July of 2025.

Oil and Gas Packer Market Size, Share & Industry Analysis Report By Type (Retrievable Packer, and Permanent Packer), By Application (Natural Gas Industry, and Oil Industry), and By Region - Market Scope, Global Growth Opportunities & Research Forecast, 2021-2028

United States Natural Gas Exports: Avg Price: LNG: To Jamaica: From Jacksonville, Florida data was reported at 10.800 USD/1000 Cub ft in 2021. United States Natural Gas Exports: Avg Price: LNG: To Jamaica: From Jacksonville, Florida data is updated yearly, averaging 10.800 USD/1000 Cub ft from Dec 2021 (Median) to 2021, with 1 observations. The data reached an all-time high of 10.800 USD/1000 Cub ft in 2021 and a record low of 10.800 USD/1000 Cub ft in 2021. United States Natural Gas Exports: Avg Price: LNG: To Jamaica: From Jacksonville, Florida data remains active status in CEIC and is reported by U.S. Energy Information Administration. The data is categorized under Global Database’s United States – Table US.P016: Natural Gas Export Price: Liquefied Natural Gas: Annual.

In 2024, the price of natural gas in Europe reached 11 constant U.S. dollars per million British thermal units, compared with 2.2 U.S. dollars in the U.S. This was a notable decrease compared to the previous year, which had seen a steep increase in prices due to an energy supply shortage exacerbated by the Russia-Ukraine war. Since 1980, natural gas prices have typically been higher in Europe than in the United States and are expected to remain so for the coming two years. This is due to the U.S. being a significantly larger natural gas producer than Europe. What is natural gas and why is it gaining ground in the energy market? Natural gas is commonly burned in power plants with combustion turbines that generate electricity or used as a heating fuel. Given the fact that the world’s energy demand continues to grow, natural gas was seen by some industry leaders as an acceptable "bridge-fuel" to overcome the use of more emission-intensive energy sources such as coal. Subsequently, natural gas has become the main fuel for electricity generation in the U.S., while the global gas power generation share has reached over 22 percent. How domestic production shapes U.S. natural gas prices The combination of hydraulic fracturing (“fracking”) and horizontal drilling can be regarded as one of the oil and gas industry’s biggest breakthroughs in decades, with the U.S. being the largest beneficiary. This technology has helped the industry release unprecedented quantities of gas from deposits, mainly shale and tar sands that were previously thought either inaccessible or uneconomic. It is forecast that U.S. shale gas production could reach 36 trillion cubic feet in 2050, up from 1.77 trillion cubic feet in 2000.

Natural gas prices decreased across all major regions in 2024, as supply caught up to higher demand. In Japan, LNG sold for an average of **** nominal U.S. dollars per million British thermal units. Meanwhile, the United States, as the largest natural gas producer worldwide, has significantly lower prices for the fossil fuel. The U.S. has had lower natural gas prices than Europe for much of the past four decades. LNG on the rise LNG is expected to shape much of future natural gas trade. Although pipelines have been the preferred method of transportation for many decades, as Europe shifts away from Russia as its main gas supplier, LNG has become more in demand. The global LNG trade volume has already exceeded *** billion cubic meters per year, and is expected to continue growing. Countries in Asia have some of the highest landed prices for liquefied natural gas worldwide. Natural gas benchmarks Some of the most closely followed natural gas price benchmarks are the U.S. Henry Hub and the Dutch TTF. The former is an important indicator of the state of the natural gas industry in the U.S., while the latter reflects natural gas market developments in Europe and potential repercussions for consumers.

The size of the Natural Gas Market in Middle East 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% during the forecast period. The natural gas market in the Middle East is a crucial element of the regional energy resource, characterized by rich reserves and large-scale production potential. Among the major producers are Qatar, Iran, and Saudi Arabia, while Qatar leads in the exportation of liquefied natural gas (LNG). Undoubtedly, the enormous natural gas resources of the Middle East are not only highly important for use in fulfilling the needs of the energy area but also to supply global energy needs. There has also been increased investment in natural gas infrastructure, such as the pipelines, processing facilities, and LNG export terminals in the region in recent years. Such initiatives are targeted at increasing the export capacity and diversifying energy markets. Qatar is investing in expansion of its production capacity of LNG in order to capture a significant foothold in the global market, while Iran invests in the development of gas fields as well as enhancing capacities and capabilities for exports. Yet there are several issues afflicting the market, including geopolitical tensions that would naturally affect its supply chains and investments. For longer-term demands, the increased interest in renewable energy and sustainability could switch demand for fossil fuels, including natural gas. Despite this, however, the natural gas market in the Middle East is a market in itself destined to grow due to ongoing requirements from security in energy, especially regional power generation and export opportunities, especially in Asia, where demand for natural gas remains high. Recent developments include: In March 2022, the governments of Saudi Arabia and Kuwait signed a contract to develop the offshore gas resource known as Durra, located in their shared neutral zone. The offshore gas field is anticipated to generate 84,000 barrels of condensate daily and 1 billion cubic feet of gas daily., In December 2021, TotalEnergies signed an agreement with the Oman government to sustain the country's natural gas resources and to develop its energy sector more sustainably.. Key drivers for this market are: 4., Growing Demand for Renewable Energy4.; Upcoming Investments in the Energy Sector and Supportive Renewable Energy Policies. Potential restraints include: 4., High Initial Investment Cost and Long Investment Return Period on Projects. Notable trends are: Power generation to Dominate the Market.

Snapshot img { margin: 10px !important; } The natural gas refueling stations market share is expected to increase by 8532.00 units from 2020 to 2025, and the market’s growth momentum will accelerate at a CAGR of 4.41%.

This natural gas refueling stations market research report provides valuable insights on the post-COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers market segmentation by technology (CNG and LNG), type (fast-fill stations and time-fill stations), and geography (APAC, North America, Europe, MEA, and South America). The natural gas refueling stations market report also offers information on several market vendors, including Atlas Copco AB, Clean Energy Fuels Corp., Dover Corp., Exxon Mobil Corp., GAIL (India) Ltd., Gilbarco Inc., GreenLine, Ingersoll Rand Inc., Linde Plc, and Torrent Gas Pvt. Ltd., among others.

What will the Natural Gas Refueling Stations Market Size be During the Forecast Period?

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Natural Gas Refueling Stations Market: Key Drivers and Challenges

Based on our research output, there has been a negative impact on the market growth during and post the COVID-19 era. The demand for cleaner fuels is notably driving the natural gas refueling stations market's growth, although factors such as the fall in oil prices may impede market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic's impact on the natural gas refueling stations market industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.

Key Natural Gas Refueling Stations Market Driver

Natural gas is a clean and affordable alternative to fossil fuels such as diesel, gasoline, and fuel oil. It is used in vehicles in compressed or liquefied form. Carbon dioxide emissions have been growing in accordance with an increase in economic activities. Efforts by countries across the world in decarbonizing the power system by shifting to renewable energy have helped in controlling carbon dioxide emissions. The burning of natural gas results in less pollution, which explains its increasing use in the transportation sector; thus, driving the global natural gas refueling stations market growth.

Key Natural Gas Refueling Stations Market Challenge

Natural gas can be easily substituted by gasoline and diesel. Global oil prices have witnessed a steep decline in recent times. This significant decline in oil prices is attributed to the supply-demand imbalance of crude oil in the global market. Cost-benefits of natural gas over conventional fuels were one of the major driving factors pushing the use of natural gas as a fuel in the transportation industry. However, the multi-year decline in oil prices has made switching to alternative fuel vehicles a less attractive proposition. Thus, the fall in oil prices is expected to impede natural gas refueling stations market growth during the forecast period.

This natural gas refueling stations market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2021-2025.

Who are the Major Natural Gas Refueling Stations Market Vendors?

The report analyzes the market’s competitive landscape and offers information on several market vendors, including:

Atlas Copco AB
Clean Energy Fuels Corp.
Dover Corp.
Exxon Mobil Corp.
GAIL (India) Ltd.
Gilbarco Inc.
GreenLine
Ingersoll Rand Inc.
Linde Plc
Torrent Gas Pvt. Ltd.

This statistical study of the natural gas refueling stations market encompasses successful business strategies deployed by the key vendors. The natural gas refueling stations market is fragmented, and the vendors are deploying growth strategies such as distinguishing their products and service offerings through clear and unique value propositions to compete in the market.

To make the most of the opportunities and recover from the post-COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments while maintaining their positions in the slow-growing segments.

The natural gas refueling stations market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.

Which are the Key Regions for Natural Gas Refueling Stations Market?

For more insights on the mark

The size of the China LNG Market was valued at USD XX Million in 2023 and is projected to reach USD XXX Million by 2032, with an expected CAGR of 7.00% during the forecast period. China LNG has dramatically expanded in recent years. In fact, China is the world's largest importer of liquefied natural gas (LNG). Being determined to decrease its reliance on coal, which has contributed hugely to air pollution and greenhouse gas emissions, the country has also targeted the use of alternative energy sources. This drive of the government to promote a cleaner alternative in the form of natural gas has largely taken the shape of increased L N G imports, and major terminals are being constructed along the coast to accommodate this growth. Mixing long-term contracts with spot market purchases would give the flexibilities in sourcing this commodity. Further, very heavy investments have been made in home country infrastructure, as witnessed by pipelines and storage facilities in place to back further growth of natural gas application for heating residential needs, for power generation, and for industrial use. Improved regasification technologies are also enhancing efficiencies while reducing the costs. However, global LNG prices are still volatile and geopolitics in some form or another create tensions, and other energy sources continue to compete with it. Since China aims to eventually become a more sustainable energy model for the future, the prospects for the LNG market are ready to play an even more critical role in fulfilling the country's needs while supporting economic growth with friendly efficiencies for the environment. The future of China's general LNG market is bright as part of a far broader trend toward a cleaner energy future. Recent developments include: In 2022, the Tianjin LNG terminal went under construction with a capacity of 5 metric tons per annum. The project received a sovereign loan from Asian Investment Bank (USD 500 million) and New Development Bank (EUR 430 million) in March 2021., In September 2021, China's state-controlled government, Sinopec, started constructing the Longkou LNG regasification terminal with a capacity of 6.5 metric tons per annum. The terminal is expected to be commissioned by October 2023.. Key drivers for this market are: 4., Rising Industrialization across the Globe4.; Increasing Utilization of Natural Gas. Potential restraints include: 4., High Cost of Installation and Maintenance. Notable trends are: LNG regasification will dominate the market..

Europe’s petroleum and natural gas extraction support services’ revenue is forecast to contract at a compound annual rate of 3.8% over the five years through 2024 to €62.1 billion. Widespread disruption caused by the COVID-19 pandemic weighed heavily on extraction and exploration activity in downstream oil and gas markets as poor demand conditions caused prices to plummet, disincentivising new investment and causing support service contractors to offer price concessions to customers, compounding the industry’s weak revenue performance and weighing on profitability. Demand has increased since lockdown restrictions eased, supporting revenue over 2021 and 2022. Russia’s invasion of Ukraine led to significant price increases in both oil and gas due to supply uncertainties. This also led to Norway becoming Europe’s largest natural gas supplier in 2022, supporting revenue opportunities for Norwegian contractors. Norway has also increased the level of investment into new oil and gas fields to alleviate uncertainties regarding supply following trade restrictions placed on Russian oil and gas. Nonetheless, weakening demand and falling oil and gas prices have contributed to an expected revenue slump of 20.3% in 2024. Over the five years through 2029, revenue is forecast to climb at a compound annual rate of 7% to €87.2 billion. New investments into oil and gas fields will provide contractors with new revenue opportunities, supporting revenue growth and expanding profitability. However, ongoing efforts across Europe to meet environmental and emissions targets, like net zero by 2050, will continue to threaten demand for oil and gas, somewhat limiting revenue growth.

The global natural gas fired electricity generation market was valued at USD 33.72 billion in 2019 and is anticipated to register an estimated USD 56.13 billion by 2027, expanding at a CAGR of nearly 5.3% during the forecast period, 2020–2027. The growth of the market is attributed to rising demand for renewable energy source and growing development of new technologies for natural gas electricity generation.
Natural gas fired electricity generation involves a process of generating electricity power using natural resources. Natural gas-based electricity is a fast-growing market and a substantial rise in the demand for the power system is due to its clean and efficient source of energy, which is less harmful to environment. Rising global concern for carbon emission and the increasing global pressure for the use of renewable energy sources, the demand for natural gas-based electricity is rising significantly.

Market Drivers, Restraints, Trends, and Opportunities

• Rising needs for electricity power for newly developed industries is expected to drive the market growth during the forecast period.
• Increasing global environment concerns and slowly shutting down of coal-based power plants are anticipated to boost the overall market development over the analysis years.
• Growing government investment for the development of natural gas electricity generation is estimated to propel the market expansion in the coming years.
• High cost of electricity generation from natural resources and lack of suitable gas generation infrastructure are projected to hamper the market development during the targeted period.
• The market growth between 2019 and 2020 has been affected due to the adverse impact of the COVID-19 pandemic and the trend is expected to continue till mid-2021.
• Large R&D investment from key players is anticipated to offer immense opportunities for the market expansion during the projected period.

Scope of the Report

Reference Price: Natural Gas data was reported at 13,815.930 TRY/1000 Std Cub m in 17 May 2025. This records an increase from the previous number of 13,539.320 TRY/1000 Std Cub m for 16 May 2025. Reference Price: Natural Gas data is updated daily, averaging 8,021.980 TRY/1000 Std Cub m from Sep 2018 (Median) to 17 May 2025, with 2451 observations. The data reached an all-time high of 26,297.000 TRY/1000 Std Cub m in 21 Sep 2022 and a record low of 1,204.860 TRY/1000 Std Cub m in 21 Feb 2021. Reference Price: Natural Gas data remains active status in CEIC and is reported by Energy Exchange Istanbul. The data is categorized under Global Database’s Turkey – Table TR.P: Natural Gas Reference Price. [COVID-19-IMPACT]

Market Overview:

The Global Sustainable Natural Gas Market size is to grow from USD XX million in 2022 to USD XX million by 2030, at a CAGR of XX%. The market growth factors include the increasing demand for energy and the growing awareness about the benefits of using sustainable natural gas. The global sustainable natural gas sales market is segmented by type, application, and region. By type, the market is divided into originated from agricultural waste & biomass, and synthetic natural gas. By application, it is classified into building, industry, power plant, and other applications. The regional segments are North America (U.S., Canada), Latin America (Mexico), Europe (Germany), Asia Pacific (China), Middle East & Africa (Saudi Arabia).

Product Definition:

Sustainable natural gas is a type of natural gas that is produced without the use of fracking or other environmentally harmful methods. A sustainable natural gas sale is one in which the seller can continue to provide the purchaser with a reliable supply of natural gas at a fixed price for an extended period of time. This type of sale is important because it allows companies to plan for their future energy needs.

Originated From Agricultural Waste & Biomass:

The process of Sustainable Natural Gas production from agricultural waste and biomass begins by sorting the material into organic and inorganic materials. The organic materials are then processed to create compost or Biochar, which is a type of carbon-rich Soil Amendment. The inorganic materials are burned to produce heat, energy, and ash that can be used in other processes.

From Synthetic Natural Gas:

The process of synthetic natural gas production begins with the extraction of natural gas from shale, coal, or other underground resources. The gas is then processed and converted into a synthetic form using technologies such as Fischer-Tropsch synthesis.

Application Insights:

The global sustainable natural gas sales market by application was dominated by the industry segment at over 40% of the total volume in 2014. The growing use of NNG in various industries including power generation, industrial and automotive is expected to drive demand over the forecast period. The building was one of the fastest-growing segments owing to its usage as a fuel for heating and lighting in residential as well as commercial buildings across several countries worldwide. In addition, increasing applications for space heating and cooling through Geothermal Heat Pumps are projected to boost product demand globally. Other applications include power generation & transportation which together accounted for less than 20% of total volume in 2014 due to low penetration rates globally compared with other segments such as industry or residential consumers.

Regional Analysis:

Asia Pacific is expected to emerge as the fastest-growing regional market over the forecast period. The region accounted for a volume share of over 35% in 2021 and is anticipated to reach nearly USD X billion by 2030, at a CAGR of XX% from 2022 to 2030. China emerged as an important consumer in the Asia Pacific owing to rapid industrialization and urbanization along with increasing energy demand due to rising population coupled with rapid economic growth in recent years. North America was estimated at USD X billion in 2021 and is projected to grow at 4% between 2022 and 2030, which will result in exceeding USD X billion by 2023. Synthetic natural gas production has been ongoing since 2007 but only began commercial operations in 2010 through enhanced oil recovery (EOR).

Growth Factors:

• Increasing demand from the transportation sector: Global natural gas consumption is expected to grow at a CAGR of 2.5% during the forecast period, owing to the increasing demand from the transportation sector. This is mainly because of its low emissions and environmental benefits as compared to other fuels such as petrol and diesel.
• Stringent environmental regulations: Governments across various countries are implementing stringent environmental regulations for vehicles, which is expected to drive the growth of natural gas-powered vehicles in the coming years. China has announced a ban on sales of new petrol and diesel cars by 2030 in order to reduce air pollution levels in cities.
• Availability of shale gas reserves: Shale gas reserves are abundant globally and this is expected to drive down prices over time, making natural gas an attractive option for consumers and businesses alike.

Report Scope</strong&g

This statistic displays the market value of the gas turbine industry worldwide in 2016 with a forecast for 2021. In 2021, the market value of this industry is expected to reach over 20 billion U.S. dollars worldwide.