Market Size of Europe Natural Gas Industry
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2020 - 2022 |
| CAGR | 5.00 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Europe Natural Gas Market Analysis
The Europe natural gas market is expected to register a CAGR of over 5% during the forecast period.
The market was negatively impacted by COVID-19 in 2020. Presently, the market has reached pre-pandemic levels.
- Over the medium term, the growing demand for LNG is expected to stimulate the market growth of Europe's natural gas market. Furthermore, increasing investments are expected to drive the market's growth.
- On the other hand, Europe's focus on alternative energy sources is expected to hamper the growth of the Europe natural gas market during the forecast period.
- Nevertheless, increasing demand for LNG in the region leads to the integration of intelligent technologies in the existing LNG infrastructure are likely to create lucrative growth opportunities for the Europe natural gas market in the forecast period.
- Norway dominates the market, and it would likely witness the highest CAGR during the forecast period. This growth is attributed to the increasing investments and supportive government policies in the country to increase natural gas production.
Europe Natural Gas Industry Segmentation
Natural gas is a fossil energy source that forms deep beneath the earth's surface. Natural gas contains many different compounds. The largest component of natural gas is methane, a compound with one carbon atom and four hydrogen atoms (CH4).
The Europe natural gas market is segmented by sector, location of deployment, and geography. By sector, the market is segmented into upstream, midstream, and downstream. By location of deployment, the market is segmented into onshore and offshore. The report also covers the market size and forecasts for the Europe natural gas market across major countries in the region. For each segment, the market sizing and forecasts have been done based on revenue (USD Billion).
Europe Natural Gas Market Size Summary
The European natural gas market is poised for growth, driven by an increasing demand for liquefied natural gas (LNG) and substantial investments in infrastructure. The market has rebounded to pre-pandemic levels after the setbacks caused by COVID-19. However, the shift towards alternative energy sources poses a challenge to the market's expansion. Despite this, the integration of advanced technologies into existing LNG infrastructure presents promising opportunities for growth. Norway stands out as a dominant player in the region, benefiting from supportive government policies and investments aimed at boosting natural gas production. The country's extensive pipeline network and its status as a major exporter underscore its significance in meeting the energy demands of the European Union and the United Kingdom.
The upstream sector in Europe is expected to experience notable growth due to increased exploration activities and a focus on reducing greenhouse gas emissions. This aligns with the European Union's ambitious carbon neutrality goals for 2050. Norway's natural gas production is anticipated to rise, supported by its well-developed infrastructure and strategic contracts to enhance gas transportation to European markets. The midstream sector, particularly in Norway, is also expected to see moderate growth as efforts to modernize gas-receiving facilities continue. The market remains moderately fragmented, with key players like Chevron, BP, Shell, TotalEnergies, and Eni actively participating. Recent geopolitical events, such as the disruption of Russian gas supplies, have prompted European nations to implement emergency measures and increase domestic production to ensure energy security.
Europe Natural Gas Market Size - Table of Contents
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1. MARKET OVERVIEW
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1.1 Introduction
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1.2 Market Size and Demand Forecast in USD billion, till 2027
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1.3 Recent Trends and Developments
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1.4 Government Policies and Regulations
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1.5 Market Dynamics
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1.5.1 Drivers
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1.5.2 Restraints
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1.6 Supply Chain Analysis
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1.7 Industry Attractiveness - Porter's Five Forces Analysis
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1.7.1 Bargaining Power of Suppliers
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1.7.2 Bargaining Power of Consumers
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1.7.3 Threat of New Entrants
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1.7.4 Threat of Substitute Products and Services
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1.7.5 Intensity of Competitive Rivalry
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2. MARKET SEGMENTATION
Europe Natural Gas Market Size FAQs
What is the current Europe Natural Gas Market size?
The Europe Natural Gas Market is projected to register a CAGR of greater than 5% during the forecast period (2024-2029)
Who are the key players in Europe Natural Gas Market?
Chevron Corporation, BP PLC, Shell PLC, TotalEnergies SE and Eni S.p.A. are the major companies operating in the Europe Natural Gas Market.
