Household Natural Gas Distribution Market 2024 - By Analysis, Industry Trends, Growth And Forecast To 2033
Global household natural gas distribution market size is expected to reach $240.62 Bn by 2028 at a rate of 6.2%, segmented as by type, pipelines, lng vessels
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Overview and Scope
Household natural gas distribution refers to the distribution systems composed of mains and services pipelines that carry the gas from the meter stations throughout the distribution systems. They are used to heat buildings and water, to cook, and to dry clothes.
Sizing and Forecast
The household natural gas distribution market size has grown strongly in recent years. It will grow from $178.27 billion in 2023 to $189.45 billion in 2024 at a compound annual growth rate (CAGR) of 6.3%. The growth in the historic period can be attributed to urbanization trends, population growth, energy efficiency concerns, government policies and incentives, consumer preferences.
The household natural gas distribution market size is expected to see strong growth in the next few years. It will grow to $240.62 billion in 2028 at a compound annual growth rate (CAGR) of 6.2%. The growth in the forecast period can be attributed to renewable natural gas integration, smart metering and IoT integration, decentralized energy systems, energy transition initiatives, hydrogen blending. Major trends in the forecast period include advancements in gas storage technologies, technological advancements, transition to renewable natural gas (RNG), demand response programs, infrastructure modernization.
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Segmentation & Regional Insights
The household natural gas distribution market covered in this report is segmented –
1) By Type: Pipelines, LNG Vessels
2) By Type of Operator: Public Operator, Private Operator
3) By Source: Conventional Gas, Unconventional Gas
Asia-Pacific was the largest region in the household natural gas distribution market in 2023. The regions covered in the household natural gas distribution market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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Major Driver Impacting Market Growth
The rising demand for natural gas is expected to propel the growth of the household natural gas distribution market going forward. Natural gas refers to a naturally occurring mixture of gaseous hydrocarbons, mainly methane but also including a number of other higher alkanes in smaller amounts. In household application, natural gas is used to heat a home and supply the energy source for cooking, clothes drying, and water heating using it with the appropriate appliances. The rise in applications of for natural gas for household purposes will increase the demand for behold natural gas distribution services, and will propel the growth of market. For instance, in November 2022, according to a report shared by the US Energy Information Administration., a US-based government agency, natural gas consumption in the US grew by 3.6% in 2021 compared with 2020. And US natural gas exports established a new record in 2021 with the averaging of 10.5 billion cubic feet per day. Further, in 2021, the US used about 30.66 trillion cubic feet (TCF) of natural gas. These numbers are expected to rise in the future. Therefore, the rising demand for natural gas is driving the growth of the household natural gas distribution market.
Key Industry Players
Major companies operating in the household natural gas distribution market report are Saudi Arabian Oil Group, China Petroleum & Chemical Corporation, PetroChina Company Limited, ExxonMobil Corporation, China National Petroleum Corporation, Royal Dutch Shell plc, TotalEnergies SE, Chevron Corporation, BP plc, Eni S.p.A, PJSC Rosneft Oil Company, PJSC Gazprom, ConocoPhillips Company, Suncor Energy Inc., Oil and Natural Gas Corporation, PJSC Lukoil Oil Company, Centrica plc, Tokyo Gas Co. Ltd., Osaka Gas Co. Ltd., Sempra Energy, Williams Companies Inc., Southwest Gas Corporation, Atmos Energy Corporation, New Jersey Resources Corporation, South Jersey Industries Inc., ONE Gas Inc., WGL Holdings Inc., National Fuel Gas Company, Spire Inc., Chesapeake Utilities Corporation, UGI Corporation, Northwest Natural Holding Company, CentralPoint Energy Inc
The household natural gas distribution market report table of contents includes:
1. Executive Summary
2. Household Natural Gas Distribution Market Characteristics
3. Household Natural Gas Distribution Market Trends And Strategies
4. Household Natural Gas Distribution Market - Macro Economic Scenario
5. Global Household Natural Gas Distribution Market Size and Growth
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32. Global Household Natural Gas Distribution Market Competitive Benchmarking
33. Global Household Natural Gas Distribution Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Household Natural Gas Distribution Market
35. Household Natural Gas Distribution Market Future Outlook and Potential Analysis
36. Appendix
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