Jun 16, 2020 (The Expresswire) -- Global Natural Gas Market Report Focuses on the Production Capacity, Industry Chain Structure, and Technical Data. This Report gives complete Overview and Analysis of Market Share, Revenue Growth, Future Opportunities and breakdown of the business trends on each segments of Oil, Gas and Consumable Fuels,Oil and Gas Exploration and Production Sector. Global Natural Gas Market is projected to Grow at a CAGR of 4.41% during the forecast period.
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“The latest trend gaining momentum in the market is the commoditization of LNG.”
According to the report, one of the major drivers for this market is the rising investments in upstream projects.
Further, the report states that one of the major factors hindering the growth of this market is the volatility in oil and gas prices.
Global Natural Gas Market: About this market
Natural gas market analysis considers sales from conventional and unconventional resource types. Our study also finds the sales of natural gas in APAC, Europe, MEA, North America, and South America. In 2020, the conventional segment had a significant market share, and this trend is expected to continue over the forecast period. Factors such as rising demand for natural gas and increasing investments in the upstream sector will play a significant role in the conventional segment to maintain its market position. Also, our global natural gas market report looks at factors such as rising investments in upstream projects, increasing focus on unconventional exploration and production activities, and growing demand for natural gas. However, volatility in oil and gas prices, environmental concerns related to drilling, and change in energy mix may hamper the growth of the natural gas industry over the forecast period.
Natural Gas Market Trend, Challengeand Driver: -
Global Natural Gas Market: Overview
Rising investments in upstream projects
The growing population and industrial development have been increasing the demand for energy across the world. Therefore, many countries are exploring untapped oil and gas resources using technological advances in the oil and gas industry. Moreover, the production of oil and natural gas is declining from several conventional oilfields. To address this issue and maximize the revenue from such oilfields, oil and gas operators are increasing investments in mature oil and gas fields. Such increasing investments in the upstream oil and gas sector across the world will lead to the expansion of the global natural gas market at a CAGR of about 5% during the forecast period.
Commoditization of LNG
An increase in the demand for LNG and a rise in its supply is essential for the growth of this commodity market. The growing diversity in the LNG contract terms among the producers and buyers is leading to an increase in the number of floating liquefaction and regasification plants, as well as to the rising liquidity of tradable LNG, thereby commoditizing LNG. Hence, the global LNG market is eventually transitioning toward a more transparent, efficient, and liquid market. The economic viability of the LNG form of natural gas makes it highly preferred for transporting over long distances. The reduced prices of LNG have increased its use, driving the shift from coal to natural gas. Hence, the commoditization of LNG has increased LNG trading activities and benefitted vendors. This development is expected to have a positive impact on the overall market growth.
For the detailed list of factors that will drive the global natural gas market during the forecast period 2020-2024, click here.
With the presence of several major players, the global natural gas market is fragmented. 360 Market Update’s robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading natural gas manufacturers, that include BP Plc, Chevron Corp., ConocoPhillips Co., Exxon Mobil Corp., PetroChina Co. Ltd., PJSC Gazprom, Royal Dutch Shell Plc, Saudi Arabian Oil Co., Suncor Energy Inc., and TOTAL SA.
Also, the natural gas market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage on all forthcoming growth opportunities.
Porter’s five forces analysis included in the report educates the buyer on the current situations along with anticipated future Natural Gas market size.
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Key vendors operating in 2020 Natural Gas market space are-
BP Plc, Chevron Corp., ConocoPhillips Co., Exxon Mobil Corp., PetroChina Co. Ltd., PJSC Gazprom, Royal Dutch Shell Plc, Saudi Arabian Oil Co., Suncor Energy Inc., and TOTAL SA.
This market research study provides a detailed qualitative and quantitative analysis of the Global Natural Gas Market 2020-2023. It provides a comprehensive review of major drivers and restraints of the market. Major companies are profiled in this report. Various secondary sources, such as annual reports, industry journals, forums, blogs, paid and free databases to identify and collect information useful for this extensive commercial study of Global Natural Gas Market 2020-2023 have been used. The primary sources, experts from related industries and suppliers, have been interviewed to obtain and verify critical information as well as to assess the future prospects of Global Natural Gas Market 2020-2023.
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Following are the objectives of The 2020 Natural Gas Market Report:
Highlights key business priorities in order to assist companies to readjust their business strategies.
The key findings and recommendations highlight crucial progressive Natural Gas Market Trends Globally, thereby allowing players to develop effective long-term strategies.
Develop/modify business expansion plans by using substantial growth offering developed and emerging markets.
Examine in-depth global Natural Gas Market trends and outlook coupled with the factors driving the market, as well as those hindering it.
Enhance the decision-making process by understanding the strategies that support commercial interest with respect to products, segmentation and industry verticals.
Table of Contents included in Natural Gas Market 2020 Report -
PART 01: EXECUTIVE SUMMARY
PART 02: SCOPE OF THE REPORT
2.2 Currency conversion rates for US
PART 03: MARKET LANDSCAPE
Market segmentation analysis
PART 04: PIPELINE ANALYSIS
PART 05: MARKET SIZING
Market sizing 2020
Market size and forecast 2020-2023