Household Natural Gas Distribution Global Market Report 2023
Major players in the household natural gas distribution market are Eni S p A, Chevron Corporation, Royal Dutch Shell Plc, BP Plc, PJSC Lukoil Oil Company, ExxonMobil Corporation, Saudi Arabian Oil Group, PJSC Gazprom, Tokyo Gas Co Ltd, Osaka Gas Co Ltd.
New York, June 05, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Household Natural Gas Distribution Global Market Report 2023" - https://www.reportlinker.com/p06464164/?utm_source=GNW , Centrica plc, Williams Companies Inc., Sempra Energy, China National Petroleum Corporation, Sinopec, PetroChina Company Limited, Suncor Energy, TotalEnergies SE, PJSC Rosneft Oil Company, Oil and Natural Gas Corporation (ONGC), and ConocoPhillips Company.The global household natural gas distribution market is expected to grow from $169.49 billion in 2022 to $179.20 billion in 2023 at a compound annual growth rate (CAGR) of 5.7%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The household natural gas distribution market is expected to reach $223 billion in 2027 at a CAGR of 5.6%.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.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.Asia-Pacific was the largest region in the household natural gas distribution market in 2022. The regions covered in household natural gas distribution report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.The main household natural gas distribution types are pipelines and lng vessels.A pipeline is a big pipe used to transport gas or oil over great distances, frequently underground.The various types of operators are public operator and private operator and the sources are conventional gas and unconventional gas.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 sehold 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 percent 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.Product innovation is a key trend gaining popularity in the household natural gas distribution market.Major companies operating in household natural gas distribution are focused on developing innovative solutions to strengthen their position in the market.For instance, in December 2022, ABB Ltd., a Switzerland-based automation company, launched the Sensi+ technological product for natural gas quality monitoring. This new solution simplifies and reduces the cost of pipeline operation and maintenance. It enables safer, easier, and more efficient pipeline monitoring and operations through a single device that can analyse up to three contaminants in any natural gas stream accurately and in real time and that provides experts with actions and insights directly from the device. Capabilities include built-in self-diagnostics, automated laser line-locking, and real-time cross-interference compensation, which will help natural gas pipeline operators.In December 2022, BP Plc., a UK-based oil and gas company, acquired Archaea Energy Inc. for $4.1 billion. By acquiring Archaea, BP would strengthen its position in the US biogas market, improving its capacity to support customers’ decarbonization objectives and advancing its ambition to lower the typical carbon intensity of the energy products it sells. Archaea Energy Inc., is a US-based biogas company involved in production and distribution of natural gas.The countries covered in the Household household natural gas distribution market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.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.The household natural gas distribution market research report is one of a series of new reports 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.Read the full report: https://www.reportlinker.com/p06464164/?utm_source=GNWAbout ReportlinkerReportLinker is an award-winning market research solution. 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