New York, April 11, 2023 (GLOBE NEWSWIRE) — Reportlinker.com announces the release of the report “Industrial And Commercial Natural Gas Distribution Global Market Report 2023” – https://www.reportlinker.com/p06320392/?utm_source=GNW
The global industrial and commercial natural gas distribution market will grow from $719.65 billion in 2022 to $761.97 billion in 2023 at a compound annual growth rate (CAGR) of 5.9%. 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 industrial and commercial natural gas distribution market is expected to grow from $1053.9 billion in 2027 at a CAGR of 8.4%.
The industrial and commercial natural gas distribution market includes revenues earned by maintaining and operating gas pipeline and facilities up to the residential gas meter.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.
Industrial and commercial natural gas distribution refers to a system that is used to operate gas distribution systems. Industrial and commercial natural gas refers to natural gas used for industrial and commercial purposes such as steam generation, metal casting, metal tempering, electricity generation, and as a fuel for commercial vehicles.
The Asia-Pacific was the largest region in the industrial and commercial natural gas distribution market. The regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.
The various sources include associated gas, non associated gas and unconventional sources, which are used by various end users including light duty vehicles, medium or heavy duty buses, medium or heavy duty trucks.
The growth in the industrial and commercial natural gas distribution market is due to the higher disposable income, and rising demand from commercial customers.The rising demand from commercial customers is expected to propel the growth of the industrial and commercial natural gas distribution market going forward.
A commercial customer means a customer who performs or produces a service or product which is a source of revenue to the customer.Commercial customers use natural gas for the household purposes such as cooking and operating refrigeration and cooling equipment.
For instance according to the U.S electricity information administration, a US-based government agency, In the year 2021, commercial usage accounted for about 11% of total U.S. natural gas consumption, and natural gas sources for about 19%. Therefore, rising demand from commercial customers is driving the growth of the natural gas distribution market.
The establishment of new city gas distribution plants is the key rend gaining popularity in the industrial and commercial natural gas distribution market.Major companies operating in the market are introducing gas distribution plants in every city to sustain their position in the market.
For instance, in January 2022, Bharat Petroleum Corporation Ltd (BPCL), an India-based petrol and gas distribution company, launched city gas distribution networks in 6 cities throughout India which helps in the easy supply of natural gas. Bharat Petroleum invested INR 10000 cores in developing this project.
Many countries are focusing on the adoption of decarbonization which aims in the reduction of emission of greenhouse gases.This adoption reduces the use of coal and encourages the use of natural gas for generating electricity.
This has resulted in a rapid expansion of renewable energy and the evolution of the industrial and commercial market in the upcoming years.
The countries covered in the industrial and commercial natural gas distribution market are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the 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 industrial and commercial natural gas distribution market research report is one of a series of new reports that provides industrial and commercial natural gas distribution market statistics, including industrial and commercial natural gas distribution industry global market size, regional shares, competitors with a industrial and commercial natural gas distribution market share, detailed industrial and commercial natural gas distribution market segments, market trends and opportunities, and any further data you may need to thrive in the industrial and commercial natural gas distribution industry. This industrial and commercial 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/p06320392/?utm_source=GNW
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