PUBLISHER: The Business Research Company | PRODUCT CODE: 1436369
PUBLISHER: The Business Research Company | PRODUCT CODE: 1436369
Household natural gas distribution involves distribution systems with mains and services pipelines transporting gas from meter stations throughout the distribution systems. These systems are utilized for heating buildings and water, cooking, and drying clothes.
The primary household natural gas distribution types are pipelines and LNG vessels. Pipelines, large pipes transporting gas or oil over long distances, can be public or private operators and source conventional or unconventional gas.
The household natural gas distribution market research report is one of a series of new reports from The Business Research Company that provides household natural gas distribution market statistics, including household natural gas distribution industry global market size, regional shares, competitors with a household natural gas distribution market share, detailed household natural gas distribution market segments, market trends and opportunities, and any further data you may need to thrive in the household natural gas distribution industry. This household natural gas distribution market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
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 increase observed in the historical period can be ascribed to urbanization trends, population growth, concerns about energy efficiency, government policies and incentives, and 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 expansion anticipated in the forecast period can be linked to renewable natural gas integration, smart metering, and IoT integration, decentralized energy systems, energy transition initiatives, and hydrogen blending. Major trends projected for the forecast period encompass advancements in gas storage technologies, technological advancements, the transition to renewable natural gas (RNG), demand response programs, and infrastructure modernization.
The household natural gas distribution market is anticipated to grow due to the rising demand for natural gas. Natural gas is utilized for heating homes and supplying energy for various household purposes, leading to an increased demand for distribution services. In 2021, US natural gas consumption grew by 3.6%, according to the US Energy Information Administration, emphasizing the market's growth driven by the escalating demand for natural gas.
The household natural gas distribution market is expected to grow as a result of the increasing emphasis on cleaner energy sources. Cleaner energy, with lower environmental impact, has garnered attention, and natural gas is perceived as a cleaner-burning fossil fuel. The adoption of cleaner energy sources, highlighted by increased use of renewables in the United States, is driving the demand for natural gas for residential use. The Energy Information Administration reported a marginal increase in renewable energy consumption to an all-time high in 2022, contributing to the growth of the household natural gas distribution market.
Premier companies in the household natural gas distribution market are concentrating on product innovation to solidify their market position. ABB Ltd., a Switzerland-based automation company, exemplifies this by launching the Sensi+ technological product for natural gas quality monitoring in December 2022. This innovative solution simplifies pipeline operation and maintenance, offering safer, easier, and more efficient monitoring and operations through a single device capable of real-time analysis of up to three contaminants in any natural gas stream. It features built-in self-diagnostics, automated laser line-locking, and real-time cross-interference compensation, enhancing the capabilities for natural gas pipeline operators.
Premier companies in the household natural gas distribution market are adopting a strategic collaboration approach to distribute renewable natural gas. Strategic collaboration refers to a process in which companies leverage each other's strengths and resources to achieve mutual benefits and success. Vanguard Renewables, a US-based company producing renewable natural gas, announced a collaboration with AstraZeneca Plc in June 2023. AstraZeneca will procure Vanguard Renewables RNG for its Newark Campus, utilizing the Farm Powered method to create RNG from food and dairy cow waste. The RNG will be fed into existing natural gas pipelines for use in AstraZeneca's pharmaceutical research and production activities.
In December 2022, BP Plc., a UK-based oil and gas company, completed the acquisition of Archaea Energy Inc. for $4.1 billion. This acquisition strengthens BP's position in the US biogas market, enhancing its ability to support customers' decarbonization objectives and furthering its ambition to reduce the carbon intensity of the energy products it sells. Archaea Energy Inc. is a US-based biogas company engaged in the production and distribution of natural gas.
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
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.
The countries covered in the household natural gas distribution market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The household natural gas distribution market includes revenues earned by entities by providing services such as processing, transportation, and storage. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Household Natural Gas Distribution Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on household natural gas distribution market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for household natural gas distribution ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The household natural gas distribution market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
The impact of higher inflation in many countries and the resulting spike in interest rates.
The continued but declining impact of covid 19 on supply chains and consumption patterns.