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GCC Natural Gas Market outlook, Future Scope, Demands and Projected Industry Growths to 2024

A detailed overview of GCC Natural Gas market with respect to the pivotal drivers influencing the revenue graph of this business sphere. The current trends of GCC Natural Gas market in conjunction with the geographical landscape, demand spectrum, remuneration scale, and growth graph of this vertical have also been included in this report.

Increasing focus toward development of non-conventional reservoirs with an aim to minimize dependency on imports will fuel the GCC natural gas Market. Low electricity generation cost, environmental proximity and cost effectiveness will make the product adoption preferable over other alternatives. According to BP energy outlook, natural gas is predicted to witness growth over 60% where total energy utilization is projected to gain over 50% escalation by 2040.

Qatar natural gas market is predicted to surpass 50 million tons by 2024. Positive consumer outlook toward LNG production accompanied by abundant availability of natural gas reserves will propel the market penetration. The Government of Qatar, in 2018, announced its plans to boost LNG production by 30% from 77 to 100 million metric tons per annum by 2023.

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GCC Natural Gas Market is predicted to reach over USD 50 Billion by 2024. Stringent government mandates to reduce emissions along with rising concerns pertaining to fossil fuel sustainability will positively influence the GCC natural gas market. In 2016, Saudi Arabia projected the Nationally Determined Contribution (NDC) target that aims to curb 130 metric tons of CO2 per year by 2030.

GCC Natural Gas Market outlook, Future Scope, Demands and Projected Industry Growths to 2024
GCC Natural Gas Market outlook, Future Scope, Demands and Projected Industry Growths to 2024

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CNG natural gas market is projected to surpass USD 3 billion by 2024. Shifting trend toward energy security coupled with rising number of automotive vehicle will boost the product demand. In Saudi Arabia, passenger vehicle sales are predicted to grow by 50%.

In 2017, the residential application accounted for over 12% of GCC natural gas market share owing to the expanding middle class population along with brisk economic growth. In 2018, World Bank predicted a growth rate of over 1.5% with respect to Saudi Arabian economy.

Unconventional natural gas Market is set to expand over 9% by 2024. Rising demand for clean fuel from high energy intensive industry will positively influence the industry landscape. Non-toxins, ability to provide greater efficiency and less carbon emission are some of the eminent features which will positively influence the business outlook.

UAE natural gas market is predicted to witness robust growth on account of positive outlook toward diversification of energy. The Government of UAE has set a target to consolidate 24% of its contribution from renewable resource under its National Agenda 2021.

Focus toward abundant availability of unconventional gas coupled with development of tight & shale gas reserves will foster the Bahrain natural gas market growth. In 2018, companies across Bahrain recovered 80 bbl. of tight oil which in turn will positively influence the industry dynamics.

Major Highlights from Table of contents are listed below for quick lookup into GCC Natural Gas Market report

Chapter 1. Methodology and Scope

  • Definitions & forecast parameters
  • Methodology and forecast parameters
  • Data Sources

Chapter 2. Executive Summary

  • Business trends of GCC Natural Gas Market
  • Product trends
  • Application trends

Chapter 3. GCC Natural Gas Industry Insights

  • GCC Natural Gas Market Industry segmentation
  • Industry landscape
  • Analysis of Manufacturers in the GCC Natural Gas industry
  • Distribution channel analysis
  • End-use landscape
  • Vendor matrix
  • GCC Natural Gas Market Technology & innovation landscape
  • Industry impact forces
  • GCC Natural Gas Market Growth drivers
  • Industry pitfalls & challenges
  • Key trends by Segments

Chapter 4. Company Profiles

  • Business Overview of GCC Natural Gas Market Companies
  • Financial Data
  • Product Landscape
  • Strategic Outlook and Decisive Analysis of companies in GCC Natural Gas Market
  • SWOT Analysis

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