Market Size of Middle East 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 |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Natural Gas in Middle East Market Analysis
The Middle East Natural gas market is projected to register a CAGR of over 5% in the current year.
COVID-19 negatively impacted the market in 2020. Presently the market has now reached pre-pandemic levels.
- Increasing demand for natural gas in the Chemical, Industrial, and transportation sector are expected to drive the demand for natural gas during the forecast period.
- Technological advancements in extracting natural gas create ample opportunities for the market player in the given region.
- Volatility in crude oil prices is hindering the market.
- During the forecast period, Saudi Arabia will be the fastest-growing country in the Middle East Natural gas market. The natural gas share increased to 55% of total energy demand in the Middle East from 52% in 2019 and 45% in 2009.
Natural Gas in Middle East Industry Segmentation
Natural gas is a fossil energy source that forms deep beneath the earth's surface. The natural gas market is segmented by type, source, application, and country. By type, the market is segmented into ethane, methane, propane, and other types. By source, the market is segmented into conventional gas and unconventional gas. By application, the market is segmented into automotive, power generation, household, and industrial fuel. The report also covers the market size and forecasts for the natural gas market across major regions. For each segment, the market sizing and forecasts have been done based on revenue.
| Type | |
| Ethane | |
| Propane | |
| Methane | |
| Other Gas Types |
| Source | |
| Conventional Gas | |
| Unconventional gas |
| Application | |
| Automotive | |
| Power generation | |
| Household | |
| Industrial Fuel |
| Countries | |
| Saudi Arabia | |
| UAE | |
| Iran | |
| Rest of Middle East and Africa |
Middle East Natural Gas Market Size Summary
The Middle East natural gas market is experiencing a resurgence, having rebounded to pre-pandemic levels after the setbacks caused by COVID-19. The market is poised for growth, driven by increasing demand across the chemical, industrial, and transportation sectors. Technological advancements in extraction methods are creating new opportunities for market players, although volatility in crude oil prices remains a challenge. Saudi Arabia is expected to be the fastest-growing country in the region's natural gas market, with a significant increase in the share of natural gas in its total energy demand. The power generation segment is anticipated to see substantial growth, supported by rising electricity generation and gas production, despite some declines in other countries like Kuwait and the UAE.
Saudi Arabia plays a pivotal role in the Middle East natural gas market, being one of the largest producers globally. The country's extensive infrastructure, including the master gas system, facilitates the efficient capture, processing, and transportation of natural gas. This infrastructure supports the production of natural gas liquids, aligning with the growing demand for these products. The government's focus on boosting gas production to reduce carbon emissions further propels market growth. The market is moderately consolidated, with key players such as Saudi Aramco, BP PLC, Total Energies SE, Royal Dutch Shell PLC, and Exxon Mobil Corporation actively participating. Collaborative efforts, like the development of the Durra offshore gas resource by Saudi Arabia and Kuwait, highlight the region's commitment to expanding its natural gas capabilities.
Middle East 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 Porter's Five Force 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 Substitutes Products and Services
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1.7.5 Intensity of Competitive Rivalry
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2. MARKET SEGMENTATION
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2.1 Type
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2.1.1 Ethane
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2.1.2 Propane
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2.1.3 Methane
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2.1.4 Other Gas Types
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2.2 Source
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2.2.1 Conventional Gas
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2.2.2 Unconventional gas
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2.3 Application
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2.3.1 Automotive
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2.3.2 Power generation
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2.3.3 Household
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2.3.4 Industrial Fuel
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2.4 Countries
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2.4.1 Saudi Arabia
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2.4.2 UAE
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2.4.3 Iran
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2.4.4 Rest of Middle East and Africa
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Middle East Natural Gas Market Size FAQs
What is the current Middle East Natural Gas Market size?
The Middle East 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 Middle East Natural Gas Market?
Saudi Aramco, BP PLC, Total Energies, Royal Dutch Shell PLC and Exxon Mobil Corporation are the major companies operating in the Middle East Natural Gas Market.
