GCC Natural Gas Market will be Worth US$79.35 Billion in 2032, with a CAGR of 4.5% | Future Market Insights, Inc.
Saudi Arab is projected to grow rapidly 3.3% at a CAGR of 5.6% CAGR during the forecast period.
Qatar is projected to grow at a CAGR of 5.6% CAGR during the forecast period
NEWARK, DE / ACCESSWIRE / August 11, 2022 / The global GCC Natural Gas market is anticipated at US$ 48.89 Billion in 2021. The GCC natural gas market share will be influenced by the widening need to fulfill burgeoning domestic demand, achieve self-sufficiency, and reinforce energy security, thereby, garnering US$ 79.35 Billion in 2032, recording a CAGR of 4.5% from 2022-2032. The market is likely to secure USD 51.09 Billion in 2022.
Shifting regulatory policies toward energy transition and sustainable energy sources, driven by integrated energy considerations, will enhance the size of the GCC natural gas market. For example, the UAE's "Energy Strategy 2050" strives to reduce the carbon emissions of power generation by 70% while boosting the percentage of clean energy in the net energy mix from 25% to 50% by 2050.
Get a Sample Copy of the Report @ https://www.futuremarketinsights.com/reports/sample/rep-gb-15384
The GCC natural gas market share will be influenced by the widening need to fulfill burgeoning domestic demand, achieve self-sufficiency, and reinforce energy security. According to the 2017 BP Energy Outlook, energy consumption in the Gulf region is expected to rise by 54% by 2040, with natural gas accounting for more than 60% of the increase. The industry landscape will be stimulated by the rising demand for clean fuel from power plants and the desalinization industry.
Key Takeaways:
Qatar is projected to grow at a CAGR of 5.6% CAGR during the forecast period.
Saudi Arab is projected to grow rapidly 3.3% at a CAGR of 5.6% CAGR during the forecast period.
Cooking attributed for more than 11% of the GCC natural gas market share in 2018.
Natural gas production in Saudi Arabia has also grown substantially, rising from 99.5 billion cubic meters in 2015 to 113 billion cubic meters in 2020.
Saudi Aramco, the country's national oil company, announced an additional USD 7 billion in investment plans.
"To meet the changing demands of consumers, players are making significant investments in the GCC natural gas industry. Heavy investments aid in the novel development and offer various benefits, which is expected to positively expand the market in forecast period."
Request for Customization @ https://www.futuremarketinsights.com/customization-available/rep-gb-15384
Key Segments Covered in the GCC Natural Gas Industry Survey
GCC Natural Gas Market by Product:
Unconventional Natural Gas Products
Conventional Natural Gas Products
GCC Natural Gas Market by Application:
Residential Natural Gas
Commercial Natural Gas
Industrial Natural Gas
GCC Natural Gas Market by End Use:
Natural Gas for Transportation
Natural Gas for Steam Generation
Natural Gas for Cooking
Natural Gas for Space Heating
Natural Gas for Other End Uses
GCC Natural Gas Market by County:
Saudi Arabia Natural Gas Market
UAE Natural Gas Market
Kuwait Natural Gas Market
Qatar Natural Gas Market
Oman Natural Gas Market
Bahrain Natural Gas Market
Competitive Landscape
Key players in the global GCC Natural Gas market include Royal Dutch Shell, Exxon Mobil, GAZPROM, Chevron, Total, ConocoPhillips, Statoil, Occidental Petroleum Corporation, Lukoil, British Petroleum, Petroleum Development Oman, General Electric, Qatar Petroleum, Eni, ONGC Videsh, Rosneft, Bahrain Petroleum Company, Saipem, Streamline Innovations Inc. among others. Recent key developments among players are:
In November 2021, Italy's Saipem declared that it had won a USD 750 million engineering, procurement, and construction contract from Saudi Aramco for work on several kilometers of pipeline required for the Jafurah gas project.
Streamline Innovations Inc. (Streamline) and Zamil Group Trade & Services (Zamil), a trading company and supplier to the energy sector, announced a partnership in January 2022 to market and deploy Streamline's environmentally forward hydrogen sulfide (H2S) treatment solutions in Saudi Arabia. Zamil will act as Streamline's agent in the country under the terms of the agreement.
Ask an Analyst@ https://www.futuremarketinsights.com/ask-question/rep-gb-15384
More Valuable Insights
Future Market Insights, in its new offering, presents an unbiased analysis of the Global GCC Natural Gas market presenting a historical analysis from 2015 to 2021 and forecast statistics for the period of 2022-2032.
The study reveals essential insights on the basis By Connectivity (Wired, Wireless), End-Use (Residential, Commercial), Product Type (Input devices, Output devices, Storage Devices) & Region (North America, Europe, Asia-Pacific, Middle East & Africa, and Latin America)
Which are the Countries Boosting the Global GCC Natural Gas Market?
By 2032, the Saudi natural gas market is predicted to expand by more than 3.7 percent. The increasing emphasis on unconventional gas production, combined with an increase in consumption levels, will facilitate industry growth.
For example, Saudi Aramco, the country's national oil company, announced an additional USD 7 billion in investment plans to increase the exploration of shale gas resources in the coming years to establish the country's extensive shale gas potential.
In 2020, the Kingdom of Saudi Arabia announced plans to develop unconventional natural gas reserves in the eastern Jafurah field, which could provide an opportunity for firms with competence in unconventional resources and augment the capacity required for storage and pipelines.
Contact Sales for Further Assistance in Purchasing this Report@ https://www.futuremarketinsights.com/checkout/15384
Table of Content
1. Executive Summary
1.1. Global Market Overview
1.2. Demand Side Trends
1.3. Supply Side Trends
1.4. FMI Analysis and Recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Introduction and Definition
3. Market Background and Foundation Data Points
3.1. Need of the Hour for Industries
3.2. GCC Natural Gas - Strategic Priorities
3.3. Life Cycle Stage
3.4. Importance of Technology
3.5. Use Cases of GCC Natural Gas
3.6. Forecast Factors: Relevance and Impact
3.7. Investment Feasibility Matrix
3.8. PESTLE Analysis
3.9. Porter's Five Forces Analysis
3.10. Market Dynamics
3.10.1. Drivers
3.10.2. Restraints
3.10.3. Opportunity Analysis
3.10.4. Trend
4. GCC Natural Gas Market Demand (US$ Mn) Analysis 2017-2021 and Forecast, 2022-2032
4.1. Historical Market Value (US$ Mn) Analysis, 2017-2021
4.2. Current and Future Market Value (US$ Mn) Projections, 2022-2032
4.2.1. Y-o-Y Growth Trend Analysis
4.2.2. Absolute $ Opportunity Analysis
Explore FMI's Extensive ongoing Coverage on Oil, And Gas Domain
Natural Gas Storage Technologies Market Size: Natural gas storage technologies play vital role in maintaining the reliable supply needed to cater the demands of consumers.
Global Gas Leak Detectors Market Share: Growing establishment of chemical facilities is primarily driving the global market for gas leak detectors. High adoption rate across expanding gas storage facilities is making these detectors an integral part of gas storage facilities.
Gas Engines Market Trend: The global gas engines market size touched a valuation of US$ 4.8 Bn in 2022 and is projected to expand at a moderate CAGR of 4.1% during the forecast period between 2022 and 2032, totaling US$ 7.47 Bn by 2032.
Flare Gas Recovery System Market Value: The flare gas recovery system market is expected to register year-on-year growth at 4.8% in 2021, with the overall valuation expected to reach US$ 1.05 Bn in 2021.
Waste to energy (WTE) Market Analysis: The global waste to energy (WTE) market is anticipated at US$ 38 Billion in 2021. The market is likely to secure US$ 40.77 Billion in 2022.
Digital Oilfield Solutions Market Sales: Sales in the global digital oilfield solutions market are slated to top US$ 37.2 Bn in 2022. Expanding at a healthy 6.5% CAGR, the market size is projected to total US$ 54.4 Bn by 2028.
Floating Power Plant Market Volume: The global floating power plant market size is expected to be valued at US$ 10.5 Billion in 2022. It is anticipated to reach US$ 17.3 Billion in 2032 and exhibit growth at an astonishing CAGR of 11.4% in the forecast period from 2022 to 2032.
Fuel Cell Market Outlook: The global fuel cell market is garnering strength and is predicted to move at an impressive CAGR of 25.2% during 2022-2032.
Energy Harvesting Market Growth: The global energy harvesting market is projected to record a CAGR of 7.5% from 2022-2032.Growing applications of the energy harvesting technology and home automation is another key driver to the market growth.
Micro Inverter Market Forecast: The global micro inverter market size touched a valuation of US$ 1.59 Bn in 2021 and is likely to reach US$ 3 Bn by 2028.The overall micro inverter sales are slated to rise at an impressive CAGR of 9.6% during the forecast period between 2022 and 2032, totaling over US$ 4.36 Bn by the end of 2032.
About Us
Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
Contact Us
Future Market Insights Inc.
Christiana Corporate,
200 Continental Drive,
Suite 401, Newark,
Delaware - 19713, USA
T: +1-845-579-5705
Report: https://www.futuremarketinsights.com/reports/gcc-natural-gas-market
For Sales Enquiries: sales@futuremarketinsights.com
Browse all Reports: https://www.futuremarketinsights.com/reports
SOURCE: Future Market Insights, Inc.
View source version on accesswire.com:
https://www.accesswire.com/711729/GCC-Natural-Gas-Market-will-be-Worth-US7935-Billion-in-2032-with-a-CAGR-of-45-Future-Market-Insights-Inc
