Natural gas rose to 3.16 USD/MMBtu on October 19, 2025, up 4.92% from the previous day. Over the past month, Natural gas's price has risen 12.47%, and is up 36.50% compared to the same time last year, 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 October of 2025.

The price of gas in the United Kingdom was *** British pence per therm in the fourth quarter of 2024. It is anticipated gas prices will increase to *** pence in the second quarter of 2025 before gradually falling to just under ** 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 ** 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 **** percent, in October of that year. Food and energy, in particular, were the main drivers of inflation during this period, with energy inflation reaching **** percent, and food prices increasing by **** 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 *** 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.

TTF Gas fell to 31.77 EUR/MWh on October 20, 2025, down 0.14% from the previous day. Over the past month, TTF Gas's price has fallen 0.23%, and is down 20.62% compared to the same time last year, 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 October of 2025.

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.

UK Gas fell to 80.69 GBp/thm on October 17, 2025, down 2.04% from the previous day. Over the past month, UK Gas's price has fallen 0.99%, and is down 17.54% compared to the same time last year, 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 October of 2025.

Natural gas production in Italy was around *** billion cubic meters in 2021. However, the domestic production of this fossil fuel was projected to increase to *** billion cubic meters by 2025 and to ***** in the following years. In the past years, natural gas production in Italy decreased from over ***** 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 ** percent full in autumn 2022, no policy regulates the supply of natural gas from Italian reserves.

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.

The size of the USA Oil and 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 4.00% during the forecast period. The oil and gas market refers to the global industry involved in the exploration, extraction, refining, transportation, and sale of petroleum and natural gas products. This sector plays a crucial role in powering the global economy, providing the primary source of energy for industries, transportation, heating, and electricity generation. The market is divided into three main segments: upstream, midstream, and downstream. Upstream involves exploration and production, where companies search for oil and gas reserves and extract them. Midstream covers the transportation, storage, and wholesale marketing of crude or refined petroleum products, often involving pipelines, shipping, and storage facilities. Downstream includes refining crude oil, processing raw natural gas, and marketing the end products like gasoline, diesel, jet fuel, lubricants, and petrochemicals used in plastics and other materials. Recent developments include: March 2022: The United States' President Joe Biden agreed to a landmark energy supply deal with the European Union. Under this deal, the United States was expected to increase transatlantic gas deliveries. This deal is important to reduce dependence on Russia after the Russia-Ukraine War., January 2022: The Department of Energy announced the release of 13.4 million barrels of oil from the Strategic Petroleum Reserve. The release of the emergency oil reserves aimed to combat rising gasoline prices in the United States and the lack of oil supply worldwide.. Key drivers for this market are: 4., Modernization and Upgrades of Existing Military Aircraft Fleets4.; Increasing Defense Budgets. Potential restraints include: 4., Shift Toward Unmanned Aircraft. Notable trends are: Upstream Sector Expected Witness Significant Growth.

Gasoline fell to 1.83 USD/Gal on October 20, 2025, down 0.33% from the previous day. Over the past month, Gasoline's price has fallen 7.67%, and is down 9.37% compared to the same time last year, according to trading on a contract for difference (CFD) that tracks the benchmark market for this commodity. Gasoline - values, historical data, forecasts and news - updated on October of 2025.

Recent developments include: July 2022: The Indian government announced that it had set a target to raise the share of natural gas in the energy mix to 15% by 2030 from the current 6.3%. According to the data demonstrated by the Ministry of Petroleum & Natural Gas, 95.21 lakh PNG (Domestic) connections have been provided, and the authorized entities have established 4531 CNG (Transport) stations as of 31 May 2022., May 2022: The China National Offshore Oil Company (CNOOC) awarded CNY 16 billion (USD2.42 billion) contracts for building 12 liquefied natural gas tankers. The 12 vessels will be constructed by Hudong Zhonghua Shipbuilding Co., a China State Shipbuilding Corporation (CSSC). Each tanker can carry about 174,000 cubic meters of LNG, equivalent to 108 million cubic meters when re-gasified. The vessels are slated for commissioning between 2024 and 2027., January 2022: GAIL (India) Ltd commenced India's first-of-its-kind project of mixing hydrogen into the natural gas system in Indore, Madhya Pradesh. The hydrogen blended natural gas will be supplied to Avantika Gas Ltd, one of GAIL's joint ventures with HPCL, to retail CNG to automobiles and piped natural gas to households in Indore.. Key drivers for this market are: 4., Increasing Electricity Demand4.; Rsing Investments in the Coal Industry. Potential restraints include: 4., Increasing Installation of Renewable Energy Sources. Notable trends are: Increasing Investments in Natural Gas Production to Drive the Market.

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The gas sensors market share in North America is expected to increase by USD 173.76 million from 2021 to 2026, and the market’s growth momentum will accelerate at a CAGR of 9.38%.

This gas sensors market in North America 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 gas sensors market in North America segmentations by type (wired and wireless) and geography (US, Canada, and Mexico). The gas sensors market in North America report also offers information on several market vendors, including Control Instruments Corp., DOD Technologies Inc., Dragerwerk AG and Co. KGaA, Edinburgh Instruments Ltd., Figaro Engineering Inc., Gas-Sensing.com, Mettler Toledo International Inc., SIARGO Ltd., SPEC Sensors, LLC, and Zhengzhou Winsen Electronics Technology Co Ltd. among others.

What will the Gas Sensors Market Size in North America be During the Forecast Period?

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Gas Sensors Market in North America: Key Drivers, Trends, and Challenges

The increase in LNG trade is notably driving the gas sensors market growth in North America, although factors such as price volatility in the oil and gas industry may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the gas sensors industry in North America. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.

Key Gas Sensors Market Driver in North America

The increase in LNG trade is one of the key drivers supporting the gas sensors market growth in North America. In 2021, the US was the largest producer of natural gas globally. Natural gas supplies about one-third of the US primary energy consumption, with its primary uses being heating and generating electricity. While the majority of it is delivered in its gaseous form via pipeline in the US, the growth in the international market for natural gas has led to the use of it in a liquefied form, or LNG. For instance, according to the US Energy Information Administration (EIA), natural gas marketed production will increase to an average of 104.4 billion cubic feet per day (Bcf/d) in 2022 and then further increase to a record-high of 106.6 Bcf/d in 2023. Thus, rising LNG production and use in the region would further bolster the demand for gas sensors in North America during the forecast period.

Key Gas Sensors Market Trend in North America

Increasing adoption of IoT products is one of the key gas sensors market trends in North America that is contributing to the market growth. Sensors used in the gas industry are IoT enabled, which provide a high level of accuracy, reliability, and flexibility for a variety of applications in the industry, which further includes remote monitoring, condition monitoring, and analysis. Furthermore, gas sensors are primarily used to measure the pressure, level, flow, and temperature of the gas. Meanwhile, governments across the region are approving rules to encourage the adoption of IoT technology to increase efficiency, downtime, and operational costs. According to Oxford Economics, the use of IoT in the gas industry could boost the global GDP by $816 billion between 2018 and 2028. As a result, it will further drive the adoption of gas sensors in North America during the forecast period.

Key Gas Sensors Market Challenge in North America

Price volatility in the oil and gas industry is one of the factors hindering the gas sensors market growth in North America. The oil and gas industry is a major consumer of gas sensors. The need for continuous monitoring of high-value assets throughout the upstream, midstream, and downstream industries makes the oil and gas industry highly dependable on sensors. Therefore, the slowdown in the oil and gas industry due to price volatility can adversely affect the growth of the market. For instance, crude oil prices have fallen significantly since the beginning of 2020, which was attributed to the economic contraction caused by the COVID-19 and, in a span of a month, a sudden increase in crude oil supply following the suspension of agreed production cuts among the Organization of the Petroleum Exporting Countries (OPEC) and partner countries. Moreover, with the declined demand and increasing supply, daily price changes for the US crude oil have become extremely volatile. Such factors are limiting the market growth.

This gas sensors market in North America 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 w

The average monthly price for natural gas in the United States amounted to **** nominal U.S. dollars per million British thermal units (Btu) in July 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 2024, the U.S. produced more than ************ cubic meters of natural gas, which allays domestic demand and allows for far lower purchasing prices.

View weekly updates and historical trends for US Retail Gas Price. from United States. Source: Energy Information Administration. Track economic data with…

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

As per Cognitive Market Research's latest published report, the Global Oil Exploration and Production market size is $3,588.98 Million in 2024 and it is forecasted to reach $5,116.57 Billion by 2031. Oil Exploration and Production Industry's Compound Annual Growth Rate was 5.20% from 2024 to 2031. Market Dynamics of the Oil Exploration and Production Market

Market Driver for the Oil Exploration and Production Market

The increasing investment in oil sector by several government bodies worldwide elevates the market growth 

Many countries view a stable and secure energy supply as crucial for their economic development and national security. Investing in the oil sector helps ensure a reliable source of energy. Oil exploration and production contribute significantly to the economic growth of a country. Governments often invest in the oil sector to capitalize on the potential for high returns, which can be used to fund public services, infrastructure projects, and other essential programs. Despite efforts to transition to renewable energy sources, the global demand for oil remains high. Governments recognize the need to meet this demand and ensure a stable energy supply to support industrial processes, transportation, and other key sectors. The oil and gas industry encompasses activities linked to exploration, including the search for hydrocarbons, identification of high-potential areas for oil and gas extraction, test drilling, the construction of wells, and initial extraction. According to the Center on Global Energy Policy, data 2023, the 2021–22 period of high oil and gas prices did not lead to a significant increase in capital spending by private companies despite record profits. One exception has been upstream exploration and production (E&P) companies, whose capital spending in 2022 was the highest since 2014.   According to the International Labor Organization (ILO), data 2022, the oil and gas industry makes a significant contribution to the global economy and to its growth and development worldwide. The oil industry alone accounts for almost 3 per cent of global domestic product. The trade in crude oil reached US$640 billion in 2020, making it one of the world’s most traded commodities. Additionally, the industry is highly capital-intensive. Globally investments in oil and gas supply reached more than US$511 billion in 2020. According to the oil and gas industry outlook, data 2023, rapid recovery in demand, and geopolitical developments have driven oil prices to 2014 highs and upstream cash flows to record levels. In 2022, the global upstream industry is projected to generate its highest-ever free cash flows of $1.4 trillion at an assumed average Brent oil price of $106/bbl. Until now, the industry has practiced capital discipline and focused on cash flow generation and pay-out—2022 year-to-date average O&G production is up by 4.5% over the same period last year, while 2022 free cash flows per barrel of production is projected to be higher by nearly 70% over 2021. In addition, high commodity prices and growing concerns over energy security are creating urgency for many to diversify supply and accelerate the energy transition. As a result, clean energy investment by Oil &Gas companies has risen by an average of 12% each year since 2020 and is expected to account for an estimated 5% of total Oil & Gas capex spending in 2022, up from less than 2% in 2020.Therefore, investments made over recent decades enabled the United States to become a world leader in oil and natural gas production. Thus, owing to increased oil production, the demand for oil exploration and production has surged during the past few years.

The rising demand for oil across both commercial and residential sector is expected to drive the market growth 

Oil remains a primary source of energy for transportation, including cars, trucks, ships, and airplanes. The growing global population, urbanization, and increased industrial activity contribute to a rise in the number of vehicles and the overall demand for transportation fuels derived from oil, such as gasoline and diesel. Many industrial processes rely on oil and its by-products as energy sources and raw materials. Industries such as manufacturing, petrochemicals, and construction utilize oil-based products for various applications, including heating, power generation, and the production of plasti...

Russia MED Forecast: Natural Gas Price: CIS: Baseline Scenario data was reported at 255.998 USD/1000 Cub m in 2026. This records a decrease from the previous number of 263.163 USD/1000 Cub m for 2025. Russia MED Forecast: Natural Gas Price: CIS: Baseline Scenario data is updated yearly, averaging 268.825 USD/1000 Cub m from Dec 2020 (Median) to 2026, with 7 observations. The data reached an all-time high of 702.900 USD/1000 Cub m in 2022 and a record low of 126.841 USD/1000 Cub m in 2020. Russia MED Forecast: Natural Gas Price: CIS: Baseline Scenario data remains active status in CEIC and is reported by Ministry of Economic Development of the Russian Federation. The data is categorized under Global Database’s Russian Federation – Forecast of The Social and Economic Development of The Russian Federation.

The GCC Natural Gas Market is estimated to be valued at USD 60.3 billion in 2025 and is projected to reach USD 91.9 billion by 2035, registering a compound annual growth rate (CAGR) of 4.3% over the forecast period.

Graph and download economic data for US Regular All Formulations Gas Price (GASREGW) from 1990-08-20 to 2025-10-13 about gas, commodities, and USA.

The size of the Denmark Oil and 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 0.70">> 0.70% during the forecast period. Oil and natural gas are fossil fuels formed from the remains of ancient marine organisms that were buried under layers of sediment and subjected to heat and pressure over millions of years. Oil, also known as petroleum, is a liquid hydrocarbon that can be refined into various products such as gasoline, diesel, and jet fuel. Natural gas, primarily composed of methane, is a gaseous hydrocarbon used for heating, electricity generation, and as a feedstock for chemicals. Both oil and natural gas are extracted from underground reservoirs through drilling. They are crucial energy sources, powering industries, transportation, and households worldwide. Recent developments include: September 2022: Petrochemicals group Ineos announced the development of an oil and gas field in Denmark. Ineos will develop the Solsort West field in the North Sea with Danoil and Nordsøfonden. The first oil and gas production is expected in the fourth quarter of 2023., March 2022: Energinet announced that the construction work on the Danish part of the Baltic Pipe has resumed after it was halted in May 2021 due to environmental issues. The pipeline is expected to run at a total capacity of up to 10 billion cubic meters from 1 January 2023.. Key drivers for this market are: 4., Increased Government Regulations for Greenhouse Gas Emissions 4.; Encouraging Production and Consumption of Renewable Aviation Fuel. Potential restraints include: 4., The High Costs of Renewable Aviation Fuel. Notable trends are: Upstream Operations to Dominate the Market.

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The natural gas fired electricity generation market size is estimated to grow at a CAGR of 3.95% between 2022 and 2027. The market size is forecast to increase by 122.7 million toe. The growth of the market depends on several factors, including increased energy demand, rising support from governments worldwide, and increasing natural gas production.

This natural gas fired electricity generation market report extensively covers market segmentation by type (CGCT and OCGT), end-user (residential, commercial, and industrial), and geography (North America, APAC, Europe, Middle East and Africa, and South America). It also includes an in-depth analysis of drivers, trends, and challenges. Furthermore, the report includes historic market data from 2017 to 2021.

What will be the size of the Natural Gas Fired Electricity Generation Market During the Forecast Period?

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Natural Gas Fired Electricity Generation Market: Key Drivers, Trends, Challenges, and Customer Landscape

The increasing natural gas production is notably driving the market growth, although factors such as environmental concerns associated with the combustion of natural gas may impede the market growth. Our researchers analyzed the data with 2022 as the base year and the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.

Key Natural Gas Fired Electricity Generation Market Driver

The increasing natural gas production is notably driving market growth. The fastest-growing fossil fuel is now natural gas due to the increasing supply of tight gas, shale gas, and coalbed methane. Since 2008, successful shale oil and gas extraction in nations like the US has increased the global supply of natural gas. The US EIA estimated that shale gas production will reach 8.1 million barrels per day (bpd) by September 2020. Additionally, the IEA predicted that by 2022, US natural gas production would make up 40% of the world's total natural gas output. Furthermore, the Permian Basin, where natural gas production was anticipated to double by 2022, dominates US shale gas production.

Similarly, the IEA predicted that by 2022, the Middle East would increase global natural gas production by 2,472.03 bcf (70 bcm). The Yamal peninsula is also home to significant untapped natural gas production capacity for Russia, which is the second-largest natural gas producer in the world after the United States. Hence, natural gas will be readily available for use in generating electricity due to the increase in natural gas production around the world. Hence, such factors will boost the growth of the global market during the forecast period.

Significant Natural Gas Fired Electricity Generation Market Trends

A shift to gas generators is an emerging trend in market growth. Natural gas, one of the non-renewable fuels used by gas generators, is a cost-efficient and efficient source of energy for mobile power generation. Compared to other fossil fuels, natural gas is more efficient and has lower operating costs. The capacity utilization rate of natural gas-fired combined cycles was the highest among other fossil fuels in 2018, according to the US EIA. By 2030, it is anticipated that 80% of natural gas's capacity will be used, further promoting the use of this fuel for the production of natural gas-fired electricity.

Compared to diesel generators, gas generators emit fewer emissions and are cleaner. These generators produce a smaller amount of air pollutants. Additionally, unlike diesel generators, they do not produce ash and soot leftovers. The power industry has switched to gas generators as a result of these benefits. New government regulations that encourage the use of gas generators have also been created as a result of environmental concerns. As a result, gas generators are becoming more widely used. Moreover, new variations of natural gas generators are also being introduced by numerous vendors active in the target market. Hence, factors like these will fuel the growth of the global market during the forecast period.

Major Natural Gas Fired Electricity Generation Market Challenge

The environmental concerns associated with the combustion of natural gas are major challenges impeding market growth. Natural gas is a fossil fuel, and so it still releases a variety of hazardous pollutants when it is burned, even though the emissions of greenhouse gases (GHGs) are much lower than those from coal or oil. Additionally, the combustion of natural gas releases nitrogen oxides, which are precursors to smog. These emissions have also been linked to a number of human illnesses, including lung cancer, asthma, bronchitis, and heart disease, in addition to air pollution. Furthermore, exposure to high concentrations of these air pollutants may have negative health effects, including cancer, cardiovas