The global gas utilities market at a CAGR of over 4% during the forecast period
NEW YORK, Aug. 28, 2019 /PRNewswire/ --
Global Gas Utilities Market: About this market
This gas utilities market analysis considers sales from power generation, residential and commercial, industrial, and others. Our analysis also considers the sales of gas utilities in APAC America an EMEA. In 2018, the power generation segment had a significant market share, and this trend is expected to continue over the forecast period. Factors such as the adoption of clean energy technologies will play a significant role in the power generation segment to maintain its market position. Also, our global gas utilities market also report looks at factors such as growth in global natural gas demand, rising global carbon emissions, and favorable government support. However, uncertainties in volatility in oil and gas prices, competition from alternative sources of energy, and operational challenges faced by gas utilities may hamper the growth of the gas utilities industry over the forecast period.
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Global Gas Utilities Market: Overview
Rising global carbon emissions
Global CO2 emissions have been increasing due to the growth in economic activities. The rising carbon emissions have resulted in the significant need for the decarbonization of transportation, industrial and power generation sectors globally, thus paving the way for the adoption of clean sources of energy and use of alternatives such as natural gas over fossil fuels. Since natural gas is regarded as the cleanest fossil fuel, it has the least negative impact on the environment. This demand for natural gas will lead to the expansion of the global gas utilities market at a CAGR of over 4% during the forecast period.
Growth in natural gas production from unconventional sources
Unconventional sources result in the production of unconventional hydrocarbons, which refer to the resources found in reservoirs with geological characteristics that are different from those found in conventional oil and gas reserves. These unconventional resources include shale gas, coalbed methane, and crude oil from shale formations or other formations with low permeability known as tight oil or shale oil. This development is expected to have a positive impact on the overall market growth.
Competitive Landscape
With the presence of several major players, the global gas utility market is fragmented. This robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading gas utility manufacturers, that include Duke Energy Corp., ENGIE SA, PetroChina Co. Ltd., PJSC Gazprom, Southern Co.
Also, the gas utilities market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage on all forthcoming growth opportunities.
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