Global Natural Gas Market to Gain from Rising Environmental Concerns Over Carbon Emissions, says Fortune Business Insights

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Pune, India, Jan. 27, 2022 (GLOBE NEWSWIRE) — The global natural gas market is likely to gain impetus from a rise in the demand for light-duty vehicles. According to a report by Fortune Business Insights, titled, “Natural Gas Market Size, Share and Global Trend by Type (Ethane, Propane, Methane, Others), by Source (Conventional Gas, Unconventional Gas), by Application (Automotive, Power Generation, Household, Industrial Fuel), and Geography Forecast till 2026,” natural gas burns cleaner than petroleum or coal. This in turn, reduces the emission of carbon dioxide in the atmosphere. Hence, it has led to a huge demand for natural gas which is one of the major factors that is likely to contribute to the growth of the global natural gas market. Moreover, the governments of several countries are encouraging the populace to make more usage of natural gas and reduce the consumption of carbon-intensive liquid and coal fuels.

The report classifies the global natural gas market on the bases of type, source, application, and geography. In terms of type, the market is segmented into propane, methane, ethane, and others. By source, the market is divided into conventional gas and unconventional gas. By source, the market is grouped into automotive, household, power generation, and industrial fuel. Amongst these, natural gas is one of the key fuels that is used persistently in power generation and industrial sectors.

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List of Key Players in Natural Gas Market:

  • Exxon Mobil Corporation
  • China National Petroleum Corporation
  • Royal Dutch Shell Plc
  • BP Plc
  • Chevron
  • Total S.A.
  • Statoil ASA
  • Conoco Philips
  • SpA
  • EOG Resources
  • Encana
  • Cimarex Energy
  • Exco Resources
  • EQT
  • Chesapeake Energy
  • Hess Corp.
  • SM Energy Company
  • and Anadarko Petroleum

Rapid Urbanization and Increasing Demand for Energy to Favor Growth in Asia Pacific 

The global natural gas market is geographically divided into Asia Pacific, Europe, the Middle East and Africa, North America, and Latin America. Amongst these regions, the U.S. in North America is the largest producer and consumer of natural gas. In North America, natural gas is used widely in the residential, commercial, and industrial applications as well as in the field of electric power generation. Mexico in Latin America is the highest consumer of natural gas. In Europe, on the other hand, Russia is the largest producer of natural gas. The country also exports natural gas to other countries. India and China are the major consumers of natural gas in Asia Pacific. This is because of a rise in urbanization and an increasing demand for energy. The region is projected to grow …

Full story available on Benzinga.com

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