Natural Gas Market Report 2024 (Global Edition)

Global Natural Gas Market Report 2024 Market Size Split by Application Outlook: (Industrial, Electric Power, Transportation, Residential, Commercial, Others)

Natural Gas Market Report Description

We have various report editions of Natural Gas Market, hence please contact our sales team and author directly to obtain/purchase a desired Edition eg, Global Edition, Regional Edition, Country Specific Report Edition, Company Profiles, Forecast Edition, etc. Request for your Free Sample PDF/Online Access.

Competitive Landscape of the Natural Gas Market

The natural gas market is highly competitive, with key players including major energy companies like ExxonMobil, Shell, BP, Chevron, and Total Energies, alongside regional players and independent producers. These companies are involved in exploration, production, distribution, and infrastructure development. The market is characterized by intense competition for supply contracts, technological advancements in extraction, and investment in LNG facilities. Strategic mergers, partnerships, and expansion into emerging markets are common tactics to maintain market share and address growing global demand for cleaner energy.

Top Companies Market Share in Natural Gas Industry: (In no particular order of Rank)

• ExxonMobil
• Royal Dutch Shell
• Chevron Corporation
• BP (British Petroleum)
• TotalEnergies
• ConocoPhillips
• Gazprom
• Eni S.p.A.
• Occidental Petroleum Corporation
• Equinor ASA
• Confidential Data
• Access The Paid Version
• Data Hidden

*List of Second Tier Companies, List of Third Tier/ Start-up Companies (Inquire with sales executive) Request Any Company Profile for Preview Purpose OR Data Validation!

If any Company(ies) of your interest has/have not been disclosed in the above list then please let us know the same so that we will check the data availability in our database and provide you the confirmation or include it in the final deliverables.

Regional Analysis of the Natural Gas Market

Which Region Dominates the Natural Gas Market in 2024?

According to Cognitive Market Research, North America is expected to dominate the natural gas market in 2024, driven by the United States' leadership in shale gas production and robust infrastructure for both extraction and distribution. The region benefits from advanced drilling technologies, such as hydraulic fracturing, which have significantly boosted supply. The U.S. also plays a central role in the liquefied natural gas (LNG) export market, which further strengthens its position. Energy demand in North America continues to rise, particularly in power generation and transportation, bolstered by government policies supporting natural gas as a cleaner alternative to coal.

Which Region is Expanding at the Fastest CAGR?

The Asia-Pacific region is expanding at the fastest CAGR in the natural gas market, driven by increasing energy demand in countries like China, India, and Japan. Rapid industrialization, urbanization, and a growing middle class are fueling the need for cleaner energy alternatives, particularly in power generation and transportation. The region's adoption of natural gas is further supported by government initiatives aimed at reducing air pollution and carbon emissions. Investments in infrastructure, such as LNG terminals and pipelines, are also contributing to the market's expansion, positioning Asia-Pacific as a critical growth hub in the global natural gas sector.

The current report Scope analyzes Natural Gas Market on 5 major region Split (In case you wish to acquire a specific region edition (more granular data) or any country Edition data then please write us on info@cognitivemarketresearch.com

• North America (United States, Canada, Mexico)
• Europe (United Kingdom, France, Germany, Italy, Russia, Spain, Sweden, Denmark, Netherlands, Switzerland, Belgium)
• Asia-Pacific (China, Japan, Korea, India, Australia, Philippines, Singapore, Malaysia, Thailand, Indonesia, Rest of APAC)
• South America (Brazil, Argentina, Colombia, Peru, Chile, Rest of South America)
• Middle East and Africa (Saudi Arabia, Turkey, Nigeria, UAE, Egypt, South Africa, GCC Countries, Rest of MEA)

The above graph is for illustrative purposes only.

North America Natural Gas

According to Cognitive Market Research, the global Natural Gas market size was estimated at USD XX Million, out of which North America held the major market share of more than 40% of the global revenue with a market size of USD XX million in 2024 and will grow at a compound annual growth rate (CAGR) of 4.2% from 2024 to 2031.

• According to Cognitive Market Research, the US had a major share in the Natural Gas market with a market size of USD XX million in 2024 and is projected to grow at a CAGR of 4.0% during the forecast period. The US market grows due to vast shale gas reserves and cleaner energy adoption.
• The Canada Natural Gas market had a market share of USD XX million in 2024 and is projected to grow at a CAGR of 5.0% during the forecast period. Canada’s growth is driven by abundant natural gas resources and LNG export potential.
• The Mexico Natural Gas market is projected to witness growth at a CAGR of 4.7% during the forecast period, with a market size of USD XX million in 2024.

Europe Natural Gas

According to Cognitive Market Research, the global Natural Gas market size was estimated at USD XX Million, out of which Europe held the market share of more than 30% of the global revenue with a market size of USD XX million in 2024 and will grow at a compound annual growth rate (CAGR) of 4.5% from 2024 to 2031.

• The United Kingdom Natural Gas market had a market share of USD XX million in 2024 and is projected to grow at a CAGR of 5.3% during the forecast period. The UK expands its market by transitioning from coal to cleaner energy sources.
• The France Natural Gas market is projected to witness growth at a CAGR of 3.7% during the forecast period, with a market size of USD XX million in 2024.
• According to Cognitive Market Research, the German Natural Gas market size was valued at USD XX million in 2024 and is projected to grow at a CAGR of 4.7% during the forecast period. Germany’s market grows as it adopts natural gas to meet energy transition goals.
• The Italy Natural Gas market is projected to witness growth at a CAGR of 3.9% during the forecast period, with a market size of USD XX million in 2024.
• The Russia Natural Gas market is projected to witness growth at a CAGR of 3.5% during the forecast period, with a market size of USD XX million in 2024.
• The Spain Natural Gas market is projected to witness growth at a CAGR of 3.6% during the forecast period with a market size of USD XX million in 2024
• The Luxembourg Natural Gas market is projected to witness growth at a CAGR of 4.6% during the forecast period, with a market size of USD XX million in 2024.
• The Portugal Natural Gas market is projected to witness growth at a CAGR of 4.3% during the forecast period, with a market size of USD XX million in 2024.
• The Greece Natural Gas market is projected to witness growth at a CAGR of 4.8% during the forecast period, with a market size of USD XX million in 2024.
• The Rest of Europe's Natural Gas market is projected to witness growth at a CAGR of 3.2% during the forecast period, with a market size of USD XX million in 2024.

Asia Pacific Natural Gas

According to Cognitive Market Research, the global Natural Gas market size was estimated at USD XX Million, out of which Asia Pacific held the market share of around 23% of the global revenue with a market size of USD XX million in 2024 and will grow at a compound annual growth rate (CAGR) of 8.0% from 2024 to 2031.

• According to Cognitive Market Research, the China Natural Gas market size was valued at USD XX million in 2024 and is projected to grow at a CAGR of 7.5% during the forecast period. China’s growth is fueled by industrialization and government initiatives for cleaner energy.
• The Japan Natural Gas market is projected to witness growth at a CAGR of 6.5% during the forecast period, with a market size of USD XX million in 2024.
• The India Natural Gas market had a market share of USD XX million in 2024 and is projected to grow at a CAGR of 9.8% during the forecast period. India’s market grows due to rising energy demand and cleaner fuel adoption.
• The South Korean Natural Gas market is projected to witness growth at a CAGR of 7.1% during the forecast period, with a market size of USD XX million in 2024.
• The Australian Natural Gas market is projected to witness growth at a CAGR of 7.7% during the forecast period, with a market size of USD XX million in 2024.
• The South East Asia Natural Gas market is projected to witness growth at a CAGR of 9.0% during the forecast period, with a market size of USD XX million in 2024.
• The Rest of Asia Pacific Natural Gas market is projected to witness growth at a CAGR of 7.8% during the forecast period, with a market size of USD XX million in 2024.

South America Natural Gas

According to Cognitive Market Research, the global Natural Gas market size was estimated at USD XX Million, out of which the Latin America held the market share of around 5% of the global revenue with a market size of USD XX million in 2024 and will grow at a compound annual growth rate (CAGR) of 5.4% from 2024 to 2031.

• According to Cognitive Market Research, the Brazil Natural Gas market size was valued at USD XX million in 2024 and is projected to grow at a CAGR of 6.0% during the forecast period. Brazil expands due to increasing energy needs and the shift to cleaner power.
• Argentina's Natural Gas market had a market share of USD XX million in 2024 and is projected to grow at a CAGR of 6.3% during the forecast period. Argentina’s growth is driven by expanding production and energy security initiatives.
• Colombia Natural Gas market is projected to witness growth at a CAGR of 5.2% during the forecast period, with a market size of USD XX million in 2024.
• Peru Natural Gas market is projected to witness growth at a CAGR of 5.6% during the forecast period, with a market size of USD XX million in 2024.
• Chile Natural Gas market is projected to witness growth at a CAGR of 5.7% during the forecast period, with a market size of USD XX million in 2024.
• The Rest of Latin America's Natural Gas market is projected to witness growth at a CAGR of 4.5% during the forecast period, with a market size of USD XX million in 2024.

Middle East and Africa Natural Gas

According to Cognitive Market Research, the global Natural Gas market size was estimated at USD XX Million, out of which the Middle East and Africa held the major market share of around 2% of the global revenue with a market size of USD XX million in 2024 and will grow at a compound annual growth rate (CAGR) of 5.7% from 2024 to 2031..

• The GCC Countries Natural Gas market is projected to witness growth at a CAGR of 6.5% during the forecast period, with a market size of USD XX million in 2024. The GCC grows through large reserves and increasing domestic demand for cleaner energy.
• The Egypt Natural Gas market is projected to witness growth at a CAGR of 6.5% during the forecast period, with a market size of USD XX million in 2024.
• The South Africa Natural Gas market is projected to witness growth at a CAGR of 6.7% during the forecast period, with a market size of USD XX million in 2024. South Africa’s market grows with a focus on cleaner energy and infrastructure development.
• The Turkey Natural Gas market is projected to witness growth at a CAGR of 5.2% during the forecast period, with a market size of USD XX million in 2024.
• The Nigeria Natural Gas market is projected to witness growth at a CAGR of 4.8% during the forecast period, with a market size of USD XX million in 2024.
• The Rest of the MEA Natural Gas market is projected to witness growth at a CAGR of 4.7% during the forecast period, with a market size of USD XX million in 2024.

Natural Gas Market Analysis

Segment Analysis of Natural Gas Market

Quality management is the major parameter to meet specific standards and specifications, reliability and consistency. The chemical and material industry is full of various types of chemicals and it is necessary to focus on quality management because it may affect environment & other equipment. Raw materials plays an important role in this industry. The chemical industry converts these raw materials into primary, secondary, and tertiary products. Fluctuations in raw material prices may impact the market growth in the near future. This study includes the revenue generation of each type in each region for the year 2019 to 2031. Additionally it also provides detailed supply chain analysis along with current trends in the market which are expected to propel the market growth in the coming year.

of Natural Gas analyzed in this report are as follows:

The above Chart is for representative purposes and does not depict actual sale statistics. Access/Request the quantitative data to understand the trends and dominating segment of Natural Gas Industry. Request a Free Sample PDF!

Segment Analysis of Natural Gas Market

Chemical and materials are one of the most important industries for other sectors including automotive, pharmaceutical, personal care, consumer goods and others. The demand for high quality and environment friendly products is increasing in various end-use sectors. Thus, key manufacturers are focusing on technological advancement in production of high-quality chemicals. The segment analysis will help to understand which is the most attractive application/end use sector. It also provides the year on year (Y-O-Y) growth rate for each segment. Moreover, this study includes the detailed analysis of each segment to understand the key positive and negative factors which are impacting the growth of the Natural Gas Market.

Some of the key of Natural Gas are:

The above Graph is for representation purposes only. This chart does not depict actual Market share.

Natural Gas Application Outlook: Segment Analysis

Natural Gas Market Application Segment Analysis

According to Cognitive Market Research, the industrial segment represents the largest application category in the natural gas market, driven by its use as a key energy source for manufacturing and processing. Natural gas is used extensively for heating, steam generation, and powering industrial equipment across various sectors, such as chemicals, metals, and cement. Industries prefer natural gas due to its efficiency, cost-effectiveness, and cleaner emissions compared to coal or oil. As industrialization accelerates globally, particularly in emerging markets, demand for natural gas within this sector continues to grow, solidifying its position as the dominant application segment.

The transportation segment is the fastest-growing application in the natural gas market, fueled by the growing shift towards cleaner fuels in the transportation industry. Compressed natural gas (CNG) and liquefied natural gas (LNG) are being increasingly adopted in commercial vehicles, buses, and trucks due to their environmental benefits and cost efficiency when compared to diesel and gasoline. With governments implementing stricter emission regulations and incentivizing the use of alternative fuels, natural gas is emerging as an attractive option for fleet operators. The expansion of refueling infrastructure and the adoption of LNG in long-haul trucking are driving rapid growth in this segment.

• Industrial
• Electric Power
• Transportation
• Residential
• Commercial
• Others

Author's Detail

Manoj Phagare

Senior Research Analyst at Cognitive Market Research

LinkedIn

Profile

• Worked on several market, industry & business research projects, on various models such as Syndicated, Custom, Subscriptions and Consults
• Proficient in secondary research and familiar with all paid research databases
• Proficient in primary research and handling client queries through mails and calls
• Expertise in statistical techniques used in data forecasting, possess strong grip on all aspects of market engineering & data analysis
• Expertise in checking feasibility of projects based on Request for Proposal (RFPs) of clients
• Acquainted with entire process of report writing- Title Analysis, TOC Building, Search Engine Optimization, TOC Freezing, Writing Reports, Market Engineering, Scheduling Primaries, Directory of Key Industry Participants (DKIP), Drafting “Press Articles/Summary/Report Description/Analyst Briefing” used for making marketing collaterals 
• Gained team-work skills in coordinating with the sales teams for business development and meeting needs of a variety of clients hand-in-hand with promoting sales.

Author's Conclusion