North America Natural Gas Market is Expected to grow at a robust CAGR of 6.15% through 2030F
The
North America Natural Gas Market is expected to be led by the United States,
driven by its vast reserves, advanced extraction technologies, and strong domestic
and export demand, during the forecast period 2026-2030F.
According
to TechSci Research report, “North
America Natural Gas Market – By Country, Competition, Forecast &
Opportunities, 2020-2030F, The North America Natural Gas Market was valued
at USD 435.26 Billion in 2024 and is expected to reach USD 622.63 Billion by
2030 with a CAGR of 6.15% during the forecast period.
The
increasing reliance of industrial sectors on natural gas as a feedstock and
energy source is a strong driver of market expansion in North America. Key
industries such as petrochemicals, fertilizers, cement, steel, glass, and
refining utilize natural gas in both combustion and chemical processes due to
its cost-efficiency, temperature control advantages, and emission profile. In
particular, the petrochemical industry benefits from natural gas liquids such
as ethane and propane, which are used as primary feedstocks in the production
of plastics, solvents, and other materials. The competitive pricing of North
American natural gas—resulting from prolific shale gas production—has made
domestic manufacturing operations more viable, attracting both domestic and
foreign investment in industrial plants.
Industrial
demand is being bolstered by efforts to modernize manufacturing processes with
cleaner and more efficient energy systems. Natural gas-fired cogeneration and
combined heat and power systems are being adopted by industrial players seeking
to reduce operational costs while meeting environmental compliance standards.
Industrial users are also integrating natural gas solutions into their
long-term capital strategies to shield themselves from the price volatility
associated with other fossil fuels. As the demand for durable goods,
fertilizers, and construction materials continues to rise across the continent,
natural gas consumption in industrial applications is expected to scale
proportionally, further strengthening its role in economic and manufacturing
resilience.
The
North America natural gas market is experiencing a sustained increase in demand
from the power generation sector, driven by the ongoing shift away from coal
and the need for flexible, low-emission energy sources to complement
intermittent renewable power. Natural gas-fired power plants offer a rapid
ramp-up capability that supports grid stability, particularly as wind and solar
energy adoption accelerates. In both the United States and Canada, utilities
are increasingly relying on natural gas as a transitional fuel that balances
reliability, cost, and environmental impact. Several coal-to-gas conversion
projects have been completed or are underway, especially in regions where
environmental regulations have tightened emissions thresholds for particulate
matter and carbon dioxide.
In
addition to replacing retiring coal assets, natural gas is also being deployed
to meet rising electricity demand in industrial zones and high-growth urban
areas. The flexibility and scalability of combined-cycle gas turbine technology
make it well-suited for meeting peak load requirements while maintaining
efficiency. At the same time, the relatively low capital cost of constructing
natural gas plants compared to nuclear or large-scale hydroelectric facilities
further strengthens its appeal for utility-scale generation. This trend is
reinforcing natural gas as a central component of North America's evolving
energy mix, even as policymakers pursue long-term decarbonization pathways.
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Based
on Application, Commercial segment has emerged as the fastest-growing
application in the North America Natural Gas Market, reflecting a significant
shift in energy consumption patterns across office buildings, retail spaces, hotels,
and other commercial establishments. This growth is driven by the increasing
preference for natural gas due to its cost-effectiveness, reliability, and
environmental benefits compared to traditional energy sources like coal and
oil. Commercial facilities benefit from natural gas for heating, cooling, water
heating, and cooking, enabling more efficient energy management and reduced
operational costs.
Expanding
natural gas infrastructure and improved pipeline connectivity have made supply
more accessible and consistent for commercial users, encouraging wider
adoption. The focus on sustainability and reducing carbon footprints has led
many commercial operators to transition to cleaner fuel sources, with natural
gas offering a practical solution that aligns with environmental regulations
and corporate social responsibility goals. Additionally, government incentives
promoting energy efficiency and cleaner energy use support this trend, making
investments in natural gas technologies more attractive for commercial
businesses. As a result, the commercial application segment is expected to
maintain strong growth momentum, playing a pivotal role in driving the overall
expansion of the North America natural gas market in the coming years.
Based
on country, Mexico is
rapidly emerging as the fastest-growing country in the North America natural
gas market due to significant investments in infrastructure and increasing
domestic demand. The country’s government has prioritized expanding pipeline
networks to improve gas distribution, enabling industries and power plants to
transition from more polluting fuels to natural gas. Mexico’s growing
industrial base, coupled with rising electricity consumption, further drives
demand for reliable and cleaner energy sources.
Cross-border
collaborations with the United States have facilitated greater natural gas
imports, supporting energy security and economic growth. The development of
liquefied natural gas terminals and modernization of gas facilities are also
key factors contributing to Mexico’s dynamic growth in the natural gas sector,
positioning it as a critical player in the regional market.
Key
market players in the North America Natural Gas market are:
-
- Exxon
Mobil Corporation
- Royal
Dutch Shell plc
- Chevron
Corporation
- BP
p.l.c.
- TotalEnergies
SE
- Gazprom
PJSC
- ConocoPhillips
- Eni
S.p.A.
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“The
North America Natural Gas Market is poised for steady growth driven by abundant
domestic reserves and increasing demand from power generation, industrial, and
transportation sectors. Advances in extraction technologies, such as hydraulic
fracturing and horizontal drilling, continue to improve production efficiency
and reduce costs. Growing environmental concerns and regulations favor natural
gas as a cleaner alternative to coal and oil, boosting its adoption. Expanding
liquefied natural gas export infrastructure positions North America as a key
global supplier. Investments in pipeline infrastructure and emerging
applications like hydrogen blending will further support market expansion in
the coming years.” said Mr. Karan Chechi, Research Director of TechSci
Research, a research-based Global management consulting firm.
“North America Natural Gas Market By Type
(Compressed Natural Gas, Piped Natural Gas, Liquified Petroleum Gas), By
Application (Industrial, Electric Power, Transportation, Residential,
Commercial, Others), By Country, By Competition, Forecast and Opportunities,
2020-2030F,” has
evaluated the future growth potential of North America Natural Gas Market and
provides statistics & information on market size, structure, and future
market growth. The report intends to provide cutting-edge market intelligence
and help decision makers take sound investment decisions. Besides the report
also identifies and analyzes the emerging trends along with essential drivers,
challenges, and opportunities in North America Natural Gas Market.
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