During the first quarter of 2025 and into mid-April, U.S. natural gas prices exhibited a mixed trend driven by fluctuating weather patterns, shifting supply dynamics, and varied demand across sectors. In January, prices initially declined as above-average temperatures across key regions limited heating demand, but brief cold snaps later in the month sparked temporary rebounds. February saw modest price recoveries fueled by increased residential consumption during colder spells and a slight dip in production due to freeze-offs in certain basins.

Saudi Arabia GDP: Producer Values: Mining and Quarrying: Crude Oil and Natural Gas data was reported at 217,913.457 SAR mn in Jun 2018. This records an increase from the previous number of 183,627.021 SAR mn for Mar 2018. Saudi Arabia GDP: Producer Values: Mining and Quarrying: Crude Oil and Natural Gas data is updated quarterly, averaging 175,176.046 SAR mn from Mar 2003 (Median) to Jun 2018, with 62 observations. The data reached an all-time high of 348,760.804 SAR mn in Mar 2012 and a record low of 70,082.900 SAR mn in Sep 2003. Saudi Arabia GDP: Producer Values: Mining and Quarrying: Crude Oil and Natural Gas data remains active status in CEIC and is reported by General Authority for Statistics. The data is categorized under Global Database’s Saudi Arabia – Table SA.A007: GDP: by Industry: Current Price.

Gasoline Prices in Saudi Arabia remained unchanged at 0.62 USD/Liter in June. This dataset provides the latest reported value for - Saudi Arabia Gasoline Prices - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.

Saudi Arabia: Revenue minus production cost of natural gas, percent of GDP: The latest value from 2021 is 1.72 percent, an increase from 1.28 percent in 2020. In comparison, the world average is 0.81 percent, based on data from 181 countries. Historically, the average for Saudi Arabia from 1970 to 2021 is 0.71 percent. The minimum value, 0.04 percent, was reached in 1974 while the maximum of 1.72 percent was recorded in 2021.

The global fuel energy price index stood at 153.15 index points in May 2025, up from 100 in the base year 2016. Figures decreased that month due to lower heating fuel demand and a fall in crude oil prices. The fuel energy index includes prices for crude oil, natural gas, coal, and propane. Supply constraints across multiple commodities The global natural gas price index surged nearly 11-fold, and the global coal price index rose almost seven-fold from summer 2020 to summer 2022. This notable escalation was largely attributed to the Russia-Ukraine war, exerting increased pressure on the global supply chain. Global ramifications of the Russia-Ukraine war The invasion of Ukraine by Russia played a role in the surge of global inflation rates. Notably, Argentina bore the brunt, experiencing a hyperinflation rate of 92 percent in 2022. The war also exerted a significant impact on global gross domestic product (GDP) growth. Saudi Arabia emerged with a notable increase of nearly three percent, as several Western nations shifted their exports from Russia to Middle Eastern countries due to the sanctions imposed on the former.

Saudi Arabia GDP: 2010p: Producer Values: Mining and Quarrying: Crude Oil and Natural Gas data was reported at 1,000,160.158 SAR mn in 2017. This records a decrease from the previous number of 1,037,257.429 SAR mn for 2016. Saudi Arabia GDP: 2010p: Producer Values: Mining and Quarrying: Crude Oil and Natural Gas data is updated yearly, averaging 787,180.856 SAR mn from Dec 1970 (Median) to 2017, with 48 observations. The data reached an all-time high of 1,037,257.429 SAR mn in 2016 and a record low of 308,708.922 SAR mn in 1985. Saudi Arabia GDP: 2010p: Producer Values: Mining and Quarrying: Crude Oil and Natural Gas data remains active status in CEIC and is reported by General Authority for Statistics. The data is categorized under Global Database’s Saudi Arabia – Table SA.A010: GDP: by Industry: 2010 Price: Annual.

Saudi Arabia SA: Natural Gas Rents: % of GDP data was reported at 0.685 % in 2016. This records a decrease from the previous number of 0.789 % for 2015. Saudi Arabia SA: Natural Gas Rents: % of GDP data is updated yearly, averaging 0.316 % from Dec 1970 (Median) to 2016, with 47 observations. The data reached an all-time high of 1.225 % in 2013 and a record low of 0.000 % in 1971. Saudi Arabia SA: Natural Gas Rents: % of GDP data remains active status in CEIC and is reported by World Bank. The data is categorized under Global Database’s Saudi Arabia – Table SA.World Bank.WDI: Land Use, Protected Areas and National Wealth. Natural gas rents are the difference between the value of natural gas production at regional prices and total costs of production.; ; World Bank staff estimates based on sources and methods described in 'The Changing Wealth of Nations 2018: Building a Sustainable Future' (Lange et al 2018).; Weighted average;

Saudi Arabia Fuel Prices: Retail: Gasoline 91 data was reported at 2.180 SAR/l in Apr 2025. This stayed constant from the previous number of 2.180 SAR/l for Mar 2025. Saudi Arabia Fuel Prices: Retail: Gasoline 91 data is updated monthly, averaging 2.180 SAR/l from Jul 2020 (Median) to Apr 2025, with 58 observations. The data reached an all-time high of 2.180 SAR/l in Apr 2025 and a record low of 1.290 SAR/l in Jul 2020. Saudi Arabia Fuel Prices: Retail: Gasoline 91 data remains active status in CEIC and is reported by Saudi Arabian Oil Company. The data is categorized under Global Database’s Saudi Arabia – Table SA.P016: Fuel Prices. [COVID-19-IMPACT]

The Saudi Arabia Oil and Gas Midstream market, valued at $81.34 million in 2025, is projected to experience steady growth, driven by substantial investments in infrastructure development and the nation's ambitious Vision 2030 plan. This plan emphasizes diversification of the economy and increased energy efficiency, necessitating significant upgrades and expansions within the midstream sector. Key drivers include the expansion of existing oil and gas pipelines, the construction of new LNG terminals to support growing global demand, and the development of strategic storage facilities to enhance energy security and reliability. The transportation segment, encompassing existing infrastructure, ongoing projects, and future plans, constitutes a significant portion of the market, fueled by the need to efficiently move hydrocarbons across the country and to international markets. Growth in storage and LNG terminal segments is also anticipated due to increased production capacity and the growing global demand for liquefied natural gas. While challenges such as geopolitical instability and fluctuating global energy prices exist, the long-term outlook for the Saudi Arabian Oil and Gas Midstream market remains positive, given the kingdom's commitment to long-term energy infrastructure development and its strategic geopolitical position. The market segmentation reveals significant opportunities across different areas. Transportation, with its emphasis on pipeline networks and logistics, is expected to witness consistent growth. Storage solutions, including both above-ground and underground storage, will play a crucial role in optimizing supply chain efficiency and mitigating supply disruptions. The LNG terminal segment is poised for substantial expansion, driven by increasing demand for cleaner energy sources and Saudi Arabia's strategic positioning in global LNG trade. Major players like TotalEnergies SE, Medra Arabia, Saudi Aramco, Chevron Corporation, Shell PLC, and Arabian Petroleum Supply Company (APSCO) are actively shaping the market landscape through their investments and operational expansions, indicating a high level of competition and a focus on strategic partnerships to meet the growing energy demands. The forecast period from 2025 to 2033 offers substantial potential for market expansion, with the CAGR of 2.84% suggesting a steady, albeit moderate, rate of growth. Recent developments include: Dec 2023: Saudi Arabia introduced its inaugural natural gas storage project in Al-Hawiyah, Unaizah. The storage project boasts a substantial storage capacity of 2 billion cubic feet (bcf); this project stands as a flagship initiative under the National Industrial Development and Logistics Program, a pivotal component of Saudi Vision 2030., Jan 2022: Streamline Innovations Inc. (Streamline) and Zamil Group Trade & Services (Zamil), a trading company and supplier to the energy sector, announced a partnership to market and deploy Streamline's environmentally forward treatment solutions for hydrogen sulfide (H2S) in Saudi Arabia. Under the deal, Zamil will serve as Streamline's agent in the country.. Key drivers for this market are: 4.5.1.1 Increasing Usage of Pipelines for Fuel Transportation 4., Increasing Production and Consumption of Natural Gas and Refined Petroleum Products. Potential restraints include: 4.5.1.1 Increasing Usage of Pipelines for Fuel Transportation 4., Increasing Production and Consumption of Natural Gas and Refined Petroleum Products. Notable trends are: Pipeline Sector to Witness Growth.

This paper focuses on the MENA hydrocarbon-producing countries in the GCC and North Africa. We use annual data from 8 MENA region countries: Algeria, Bahrain, Egypt, Saudi Arabia, Qatar, Oman, Kuwait, and the UAE from 1990 to 2022. In cases where data is missing for select natural gas and commodity price, the missing values are estimated using simple interpolation methods. The country-specific natural gas demand data is sourced from the International Energy Agency (IAE) and reported in bcm. Population data is taken from the IMF and reported in Millions of people. The income-related data are sourced from the UN database. Natural gas and electricity prices are collected using various sources including IEA, OAPEC, IMF and other papers reporting prices (Amansih, 2017); Shebanah et al. (2020). Diesel prices are based on IEA data. Natural gas, diesel, and electricity prices are reported in constant dollars and calculated using the GDP deflator sourced from the World Bank. In the case of Egypt and Oman real prices, missing values for gas and electricity prices before 2003 are estimated by backwards extrapolation using regional averages. The matlab code used for the analysis is also provided.

This dataset contains Saudi Arabia Domestic Retail Prices of Petroleum Derivatives 2005-2015 Ministry of Energy, Industry and Mineral Resources Prices, Diesel, Kerosene, Liquefied Petroleum Gas, Premium Gasoline, Export API data for more datasets to advance energy economics research

Saudi Arabia: Gasoline prices at the pump, in dollars per liter: The latest value from 2016 is 0.24 dollars, an increase from 0.16 dollars in 2014. In comparison, the world average is 0.98 dollars, based on data from 165 countries. Historically, the average for Saudi Arabia from 1995 to 2016 is 0.19 dollars. The minimum value, 0.16 dollars, was reached in 1995 while the maximum of 0.24 dollars was recorded in 2000.

The United States consumed around *** billion cubic meters of natural gas in 2023. This was far more than any other country in the world. The country is a major gas producer and able to satisfy its gas demand through domestic production. Other large consumer and producer countries include Russia, Iran, and Saudi Arabia. Global natural gas consumption trends Worldwide natural gas consumption has remained relatively stable over the past three years, with global usage reaching about **** trillion cubic meters in 2023. That same year, natural gas accounted for around **** percent of global primary energy consumption, marking the lowest share since 2017. This downward trend in natural gas's share of the energy mix is attributed to a surge in natural gas prices and supply constraints between 2022 and 2023, in addition to greater electrification efforts. Natural gas in national energy landscapes The role of natural gas varies significantly across countries, with some countries heavily dependent on this fuel source. Trinidad and Tobago, for instance, derives nearly ** percent of its energy from natural gas, while Iran relies on it for about ** percent of its primary energy needs. In contrast, China, the world's largest consumer of primary energy, has been diversifying its energy mix. The country has gradually shifted away from coal dominance towards increased use of natural gas and renewable sources, reflecting a broader global trend towards cleaner energy options.

The 2025 annual OPEC basket price stood at ***** U.S. dollars per barrel as of June. This would be lower than the 2024 average, which amounted to ***** U.S. dollars. The abbreviation OPEC stands for Organization of the Petroleum Exporting Countries and includes Algeria, Angola, Congo, Equatorial Guinea, Gabon, Iraq, Iran, Kuwait, Libya, Nigeria, Saudi Arabia, Venezuela, and the United Arab Emirates. The aim of the OPEC is to coordinate the oil policies of its member states. It was founded in 1960 in Baghdad, Iraq. The OPEC Reference Basket The OPEC crude oil price is defined by the price of the so-called OPEC (Reference) basket. This basket is an average of prices of the various petroleum blends that are produced by the OPEC members. Some of these oil blends are, for example: Saharan Blend from Algeria, Basra Light from Iraq, Arab Light from Saudi Arabia, BCF 17 from Venezuela, et cetera. By increasing and decreasing its oil production, OPEC tries to keep the price between a given maxima and minima. Benchmark crude oil The OPEC basket is one of the most important benchmarks for crude oil prices worldwide. Other significant benchmarks are UK Brent, West Texas Intermediate (WTI), and Dubai Crude (Fateh). Because there are many types and grades of oil, such benchmarks are indispensable for referencing them on the global oil market. The 2025 fall in prices was the result of weakened demand outlooks exacerbated by extensive U.S. trade tariffs.

Saudi Arabia Fuel Prices: Retail: LPG data was reported at 1.040 SAR/l in Apr 2025. This stayed constant from the previous number of 1.040 SAR/l for Mar 2025. Saudi Arabia Fuel Prices: Retail: LPG data is updated monthly, averaging 0.900 SAR/l from Jul 2020 (Median) to Apr 2025, with 58 observations. The data reached an all-time high of 1.040 SAR/l in Apr 2025 and a record low of 0.750 SAR/l in May 2022. Saudi Arabia Fuel Prices: Retail: LPG data remains active status in CEIC and is reported by Saudi Arabian Oil Company. The data is categorized under Global Database’s Saudi Arabia – Table SA.P016: Fuel Prices. [COVID-19-IMPACT]

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Liquefied Natural Gas (LNG) Market Size 2025-2029

The liquefied natural gas (LNG) market size is forecast to increase by USD 27.79 billion, at a CAGR of 8% between 2024 and 2029.

The market is experiencing significant growth, driven by the surge in LNG production and the increasing demand for LNG bunkering. The production increase is due to the expansion of LNG infrastructure in key producing regions, enabling greater access to natural gas resources and facilitating the liquefaction process. Simultaneously, the demand for LNG bunkering is rising as more shipping companies adopt LNG as a cleaner alternative fuel for their vessels, in response to stricter environmental regulations. However, the LNG market faces challenges, including the fluctuations in global oil and gas prices. These price volatilities can impact the profitability of LNG projects, as the price of LNG is closely linked to the price of oil.
Additionally, the infrastructure required for LNG production, transportation, and regasification is capital-intensive and complex, posing challenges for companies looking to enter the market. Furthermore, safety concerns and the need for specialized expertise to handle LNG can create operational challenges for companies. To capitalize on market opportunities and navigate these challenges effectively, companies must remain agile, invest in innovative technologies, and collaborate with industry partners to optimize their operations and mitigate risks.

What will be the Size of the Liquefied Natural Gas (LNG) Market during the forecast period?

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The market continues to evolve, driven by shifting consumer demands, technological advancements, and regulatory changes. LNG metering and insulation technologies are crucial components in ensuring accurate measurement and efficient storage of this cryogenic fuel. LNG derivatives and contracts provide flexibility in managing price risks and securing supply. Industrial applications of LNG span various sectors, including power generation, heavy-duty vehicles, and processing industries. LNG valves, membranes, and pumps are essential components in LNG infrastructure, enabling the safe and efficient handling of this fuel. Carbon capture and utilization are emerging applications, offering potential environmental benefits. LNG pricing remains volatile due to market dynamics, supply and demand imbalances, and geopolitical factors.

Transportation, from production sites to end-users, involves complex logistics, including LNG tankers, pipelines, and terminals. Regulations and safety standards are continually evolving to address emerging challenges and ensure the safe and sustainable use of LNG. LNG vaporization and shipping technologies are essential for converting LNG back into its gaseous state for use as a fuel. LNG bunkering and supply chain optimization are crucial for the growing use of LNG as a marine fuel. LNG utilization in residential applications and export markets is expanding, driven by innovation and evolving consumer preferences. LNG production processes, such as gas-to-liquids (GTL), are advancing to improve efficiency and reduce emissions.

LNG hydrogen and fuel cells are emerging applications, offering potential benefits in decarbonizing energy systems. The LNG market's continuous dynamism underscores the importance of staying informed about the latest trends and developments.

How is this Liquefied Natural Gas (LNG) Industry segmented?

The liquefied natural gas (lng) industry research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD billion' for the period 2025-2029, as well as historical data from 2019-2023 for the following segments.

End-user

  Power
  Industry
  Others


Application

  Off-grid power plants
  Transportation
  Industrial and manufacturing
  Marine fuel
  Others


Geography

  North America

    US
    Canada


  Europe

    Norway
    Russia
    The Netherlands


  Middle East and Africa

    Qatar
    UAE


  APAC

    China
    Japan


  Rest of World (ROW)

.

By End-user Insights

The power segment is estimated to witness significant growth during the forecast period.

Liquefied Natural Gas (LNG) is a critical component of the global energy landscape, with increasing demand driven by various factors. The shift towards cleaner fuels for power generation and industrial applications is a significant trend, as LNG emits fewer greenhouse gases compared to coal and oil. LNG cryogenics technology enables the liquefaction, storage, and transportation of natural gas in its liquid form, making it a versatile fuel for various sectors. LNG infrastructure, including regasification terminals and pipelines, is essential for importing and distr

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Natural Gas Liquids (NGLs) Market Size 2025-2029

The natural gas liquids (NGLs) market size is forecast to increase by USD 21.5 billion, at a CAGR of 6.7% between 2024 and 2029.

The market is experiencing significant growth, driven by the expanding petrochemical industry and increasing demand for renewable energy. The petrochemical sector's growth is fueled by the rising production of plastics and other chemicals, which require NGLs as feedstocks. Moreover, the shift towards cleaner energy sources is creating new opportunities for NGLs as they are often used as feedstocks in the production of biofuels and other renewable energy applications. However, the market faces challenges as well. Growing environmental concerns are pushing for stricter regulations on the production and use of NGLs due to their carbon footprint. Additionally, the volatility of crude oil prices and the availability of alternative feedstocks can impact the profitability of NGLs.
Companies operating in the NGLs market must navigate these challenges by investing in sustainable production methods, exploring alternative feedstocks, and building strategic partnerships to stay competitive. By capitalizing on the growth opportunities and addressing these challenges effectively, players in the NGLs market can secure a strong market position and drive long-term success.

What will be the Size of the Natural Gas Liquids (NGLs) Market during the forecast period?

Explore in-depth regional segment analysis with market size data - historical 2019-2023 and forecasts 2025-2029 - in the full report.
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The natural gas liquids (NGL) market is a dynamic and evolving sector, characterized by continuous shifts in supply and demand patterns and applications across various industries. NGLs, including propane, butane, and pentane, are derived from the natural gas value chain through a process called natural gas processing. These liquids find extensive use in various sectors, such as diesel production, hydrogen generation, and synthetic rubber manufacturing. Environmental regulations continue to shape the NGL market, with a focus on reducing greenhouse gas emissions and promoting carbon capture and energy efficiency. Cryogenic separation is a critical process in NGL production, enabling the separation of NGLs from natural gas through low-temperature distillation.

Fuel blending is another significant application of NGLs, with propane and butane used as fuel additives in gasoline and diesel to enhance combustion efficiency and reduce emissions. The ongoing transition towards renewable resources and sustainable development has led to the emergence of bio-based NGLs derived from renewable feedstocks. The NGL market is subject to market volatility due to price fluctuations and supply and demand imbalances. LNG terminals and LNG carriers play a crucial role in facilitating global trade, enabling the transportation of NGLs to markets where demand is high. The circular economy concept is gaining traction in the NGL industry, with a focus on maximizing the value of by-products and minimizing waste.

Fischer-tropsch synthesis is an emerging technology in the NGL market, enabling the conversion of natural gas into liquid hydrocarbons, including jet fuel and diesel. The potential for CO2 sequestration and emissions reduction through the utilization of NGLs in industrial processes and power generation is a significant area of research and development. Overall, the NGL market is a dynamic and evolving sector, with ongoing innovations and regulatory developments shaping its future.

How is this Natural Gas Liquids (NGLs) Industry segmented?

The natural gas liquids (NGLs) industry research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD billion' for the period 2025-2029, as well as historical data from 2019-2023 for the following segments.

Application

  Industrial
  Residential
  Commercial


Product

  Propane
  Butane
  Pentane
  Ethane


Geography

  North America

    US
    Canada


  Europe

    Norway
    Russia


  Middle East and Africa

    Iran
    Qatar
    UAE


  APAC

    Australia
    China


  Rest of World (ROW)

.

By Application Insights

The industrial segment is estimated to witness significant growth during the forecast period.

NGLs, such as ethane and propane, are vital components in the petrochemical industry, serving as essential feedstocks for the production of chemicals and plastics like ethylene, propylene, butadiene, and synthetic rubber. These building blocks are integral to various products, including plastics, synthetic rubber, detergents, and solvents. Propane and butane are also widely used as heating fuels for residential and industrial applications and as fuel for vehicles in areas with limited natural gas access or as LPG for cooking and heating. In refining o

GCC Natural Gas Market Outlook

The GCC natural gas market size is projected to grow significantly from USD 54.8 billion in 2023 to USD 78.3 billion by 2032, with a CAGR of 4% during the forecast period. The region's strategic initiatives to diversify energy sources and reduce carbon emissions are driving this growth. The GCC countries, known for their abundant hydrocarbon resources, are increasingly investing in natural gas infrastructure to meet the rising energy demand and support various industrial applications.

One of the key growth factors for the GCC natural gas market is the increasing focus on energy diversification. With global efforts to shift towards cleaner energy sources, natural gas is seen as a viable alternative to oil. This transition is particularly significant in the GCC region, where economies are heavily dependent on oil exports. By investing in natural gas, these countries can reduce their carbon footprint and enhance energy security. Moreover, natural gas production and consumption align with global sustainability goals, making it a preferred choice for both domestic use and export markets.

Another significant driver is the rapid industrialization and urbanization in the GCC countries. As these countries continue to develop their infrastructure and expand their industrial base, the demand for natural gas, particularly for power generation and industrial applications, is expected to surge. Natural gas is increasingly being utilized for electricity generation due to its efficiency and lower emissions compared to other fossil fuels. Additionally, industrial sectors such as petrochemicals, fertilizers, and steel manufacturing are major consumers of natural gas, further bolstering the market growth.

The development of advanced technologies and infrastructure also plays a crucial role in the expansion of the GCC natural gas market. Investments in liquefied natural gas (LNG) facilities, pipeline networks, and compression stations enhance the distribution and accessibility of natural gas across the region. Such infrastructural developments not only support domestic consumption but also position the GCC as a significant player in the global natural gas market through exports. Strategic partnerships and collaborations with international energy companies are further propelling technological advancements and operational efficiencies in the sector.

Regionally, the GCC's strategic geographic location provides a unique advantage for the natural gas market. The proximity to major energy-consuming regions such as Europe and Asia-Pacific facilitates the export of natural gas, particularly in the form of LNG. Moreover, countries like Qatar, which has vast natural gas reserves, are leading exporters in the global market. The regional cooperation among GCC countries in energy projects and infrastructure development further strengthens the market outlook. For instance, the GCC Interconnection Authority aims to integrate the power grids of member countries, enhancing energy security and optimizing natural gas utilization across the region.

Source Analysis

The GCC natural gas market can be segmented into conventional and unconventional sources. Conventional natural gas, extracted from traditional reserves, continues to dominate the market. This is largely due to the region's vast and easily accessible natural gas reserves. Countries like Qatar and Saudi Arabia have significant conventional gas fields, which are cost-effective to develop and exploit. The existing infrastructure for extraction, processing, and transportation of conventional gas is well-established, providing a robust foundation for market growth. Additionally, technological advancements in extraction and processing are enhancing the efficiency and output from these conventional gas reserves.

Unconventional natural gas sources, including shale gas, tight gas, and coal bed methane, are gradually gaining traction in the GCC region. Although these sources require more advanced and costly extraction techniques, they represent a significant opportunity for future growth. The development of unconventional gas reserves can help GCC countries diversify their energy portfolio and ensure long-term energy security. Investment in research and development, as well as collaboration with international energy firms experienced in unconventional gas extraction, is crucial for unlocking the potential of these resources.

The exploration and development of unconventional gas reserves are expected to increase as technological innovations reduce the costs and environ

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The oil and gas drilling automation market share is expected to increase by USD 206.7 million from 2020 to 2025, and the market’s growth momentum will accelerate at a CAGR of 1.64%.

This oil and gas drilling automation 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 oil and gas drilling automation market segmentation by application (onshore and offshore) and geography (North America, Europe, APAC, MEA, and South America). The oil and gas drilling automation market report also offer information on several market vendors, including ABB Ltd., Akastor ASA, Ensign Energy Services Inc., Honeywell International Inc., Kongsberg Gruppen ASA, Nabors Industries Ltd., National Oilwell Varco Inc., Rockwell Automation Inc., Schlumberger Ltd., and Siemens AG among others.

What will the Oil And Gas Drilling Automation Market Size be During the Forecast Period?

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'Offshore rigs are equipped with cybernetics systems to improve equipment manipulation and automate key processes such as pipe handling, jacking, and fixation. Therefore, the recovery in crude oil prices is expected to drive the adoption of O&G drilling automation solutions globally during the forecast period.'

Oil And Gas Drilling Automation Market: Key Drivers, Trends, and Challenges

The O&G price recovery is notably driving the oil and gas drilling automation market growth, although factors such as high ownership costs 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 oil and gas drilling automation industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.

Key Oil And Gas Drilling Automation Market Driver

O&G price recovery is a major driver fueling the oil and gas drilling automation market growth. Since 2019, the moderate recovery in crude oil prices has spurred growth in oil and gas (O&G) extraction projects in countries such as the US, Saudi Arabia, Oman, and Kuwait. Rapid fluctuations in crude oil prices adversely impacted the economic activities in oil-dependent regions such as the Middle East during 2016-2019. Owing to factors such as the limited production of crude oil in key oil-producing countries, such as the US and Russia, and geopolitical factors, such as the US-China trade war, oil prices witnessed considerable stability in 2019. Additionally, the restoration of oil production facilities in Saudi Arabia to full capacity is expected to cater to the global demand for O&G at stable prices during the forecast period.Owing to rapid advances in automation and system integration technologies, automated drilling solutions are finding increased adoption in onshore and offshore oil and gas sites. Offshore rigs are equipped with cybernetics systems to improve equipment manipulation and automate key processes such as pipe handling, jacking, and fixation. Therefore, the recovery in crude oil prices is expected to drive the adoption of O&G drilling automation solutions globally during the forecast period.

Key Oil And Gas Drilling Automation Market Trend

The adoption of IoT technology is the major trend influencing the oil and gas drilling automation market growth. The adoption of the internet of things (IoT) devices for in-depth monitoring and data capturing in the O&G industry is improving the overall efficiency of O&G operations. With crude oil prices registering considerable recovery over the last two years, rig operators and oil producers are emphasizing optimizing the energy efficiency of oilfields. IoT devices are being increasingly used in the O&G industry for a range of applications, including drilling management, pipeline testing, and monitoring, among others. IoT enables oil rig operators and refineries to monitor key performance parameters such as pipe pressure and flow rate. Additionally, IoT ensures accurate and real-time data collection at locations that are not easily accessible. Smart devices provide notifications in advance to operators about any drilling errors or incorrect measurements, thereby minimizing the requirement for routine manual inspections. Advances in connected technologies such as low-power wide-area networks (LPWAN) enable connectivity between monitoring sensors in remote offshore applications. Therefore, the rising adoption of IoT in drilling activities is expected to drive the growth of the global O&G drilling automation market during the forecast period.

Key Oil And Gas Drilling Automation Market Challenge

High ownership costs are a major hindrance to the oil and gas drill

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