The Industrial And Commercial Natural Gas Distribution Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Industrial And Commercial Natural Gas Distribution Global Market Report 2024, The industrial and commercial natural gas distribution market size has grown strongly in recent years. It will grow from $812.85 billion in 2023 to $882.52 billion in 2024 at a compound annual growth rate (CAGR) of 8.6%. The growth in the historic period can be attributed to economic growth, energy diversification strategies, expansion of gas pipeline infrastructure, government incentives and policies, environmental regulations.
The industrial and commercial natural gas distribution market size is expected to see strongly grown in the next few years. It will grow to $1206.29 billion in 2028 at a compound annual growth rate (CAGR) of 8.1%. The growth in the forecast period can be attributed to transition to low-carbon economy, shale gas and lng developments, rise of distributed energy resources, increased adoption of cogeneration systems, hydrogen production from natural gas. Major trends in the forecast period include digitalization and smart gas networks, innovation in gas storage technologies, technological advancements in gas equipment, renewable natural gas (rng) adoption, carbon capture and storage (ccs) integration.
The growth in the industrial and commercial natural gas distribution market is due to the higher disposable income, and rising demand from commercial customers. The rising demand from commercial customers is expected to propel the growth of the industrial and commercial natural gas distribution market going forward. A commercial customer means a customer who performs or produces a service or product which is a source of revenue to the customer. Commercial customers use natural gas for the household purposes such as cooking and operating refrigeration and cooling equipment. For instance, according to the U.S electricity information administration, a US-based government agency, In the year 2021, commercial usage accounted for about 11% of total U.S. natural gas consumption, and natural gas sources for about 19%. Therefore, rising demand from commercial customers is driving the growth of the natural gas distribution market.
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The industrial and commercial natural gas distribution market covered in this report is segmented –
1) By Type: Industrial Natural Gas Distribution, and Commercial Natural Gas Distribution
2) By Source: Associated Gas, Non Associated Gas, Unconventional Sources
3) By End User: Light Duty Vehicles, Medium Or Heavy Duty Buses, Medium Or Heavy Duty Trucks
Technological advancements have emerged as a key trend gaining popularity in the industrial land planning and development market. Major companies operating in the market are focused on introducing new technologies to gain a competitive advantage. For instance, in 2021, Honeywell, a US-based industry-specific solutions company launched “The Honeywell Forge Real Estate Operations”. The new solution, which builds on Honeywell Forge’s enterprise performance management capabilities, was created in collaboration with SAP, a Germany-based enterprise software company using the SAP Business Technology Platform. The cloud-based software solution for building owners and managers streamlines and combines operational and business data can help them make better decisions, increase efficiency, and work toward sustainability objectives.
The industrial and commercial natural gas distribution market report table of contents includes:
1. Executive Summary
2. Industrial And Commercial Natural Gas Distribution Market Characteristics
3. Industrial And Commercial Natural Gas Distribution Product/Service Analysis -Product/Service Examples
4. Industrial And Commercial Natural Gas Distribution Market Trends And Strategies
5. Industrial And Commercial Natural Gas Distribution Market – Macro Economic Scenario
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31. Belgium Industrial And Commercial Natural Gas Distribution Market
32. Denmark Industrial And Commercial Natural Gas Distribution Market
33. Finland Industrial And Commercial Natural Gas Distribution Market
34. Ireland Industrial And Commercial Natural Gas Distribution Market
35. Netherlands Industrial And Commercial Natural Gas Distribution Market
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