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Report
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
Market Report I 2025-05-23 I 120 Pages I TechSci Research
Market Overview
The North America Natural Gas Market was valued at USD 435.26 billion in 2024 and is projected to reach USD 622.63 billion by 2030, growing at a CAGR of 6.15% during the forecast period. The market is expanding steadily, driven by growing demand for cleaner energy sources across power generation, industrial, and transportation sectors. Natural gas has become an increasingly attractive fuel due to its lower carbon emissions compared to coal and oil, coupled with its flexibility and efficiency in energy production. This has made it an integral component in North America's transition toward a lower-carbon energy system.
Natural gas continues to gain prominence due to its compatibility with intermittent renewable sources, offering a reliable backup that supports grid stability. Expansion of LNG export infrastructure, increased upstream activity in shale basins, and supportive regulatory measures are key factors shaping market dynamics. As countries seek energy security and decarbonization, natural gas is playing a pivotal role in replacing coal-fired capacity, supplying industrial heating, and supporting mobility applications. With investments in pipeline networks, liquefaction terminals, and storage facilities underway, the North America Natural Gas Market is expected to maintain its upward trajectory amid evolving global energy demands.
Key Market Drivers
Rising Demand for Cleaner Energy Sources in Power Generation
Natural gas has emerged as a cornerstone in North America's shift toward low-emission energy systems, especially in the power generation sector. Utilities are phasing out coal-fired power plants and adopting natural gas turbines that offer both environmental and operational advantages. With 50% fewer carbon dioxide emissions than coal, natural gas aligns with federal and regional policies aimed at reducing greenhouse gases. Its flexible load-balancing capability also complements variable renewable energy sources like solar and wind.
Policy support-ranging from emissions regulations to tax credits-further accelerates the adoption of gas-fired generation. Agencies such as the U.S. EPA have implemented performance standards that encourage cleaner energy technologies, indirectly boosting natural gas deployment. Investments in combined cycle gas plants are helping utilities transition smoothly while maintaining grid reliability and cost efficiency. As of 2023, natural gas accounted for around 42% of total U.S. electricity generation, underscoring its growing dominance as a cleaner energy source.
Key Market Challenges
Infrastructure Bottlenecks and Regional Supply Constraints
Despite abundant reserves and rising production, the North America natural gas market faces serious infrastructure constraints that inhibit optimal supply distribution. Pipeline bottlenecks-especially in regions like the Northeast U.S. and parts of Western Canada-restrict the transport of gas from prolific shale basins to end users. This leads to regional price disparities, supply disruptions, and even flaring due to excess supply without adequate takeaway capacity.
Opposition to new pipeline projects, driven by environmental concerns and permitting delays, further exacerbates these challenges. In winter months, lack of adequate storage and delivery capacity often results in energy shortages and price volatility. Additionally, cross-border supply coordination between the U.S., Canada, and Mexico faces regulatory complexity, slowing the pace of infrastructure integration. Without strategic investments in transportation, compression, and storage assets, the full potential of North America's natural gas output may remain underutilized.
Key Market Trends
Surge in Liquefied Natural Gas Export Capacity Expansion
The most transformative trend in the North America natural gas sector is the rapid growth in LNG export capacity. With global demand for LNG surging-especially in Europe and Asia-North America is evolving into a leading LNG supplier. New terminals and expansion projects along the U.S. Gulf Coast and Canada's West Coast are enabling long-term contracts with international buyers, diversifying energy supply chains worldwide.
The increase in LNG exports has downstream effects on domestic gas production, storage, and transportation infrastructure. It is also linking North American gas pricing more closely with international markets, leading to new trade dynamics and price volatility. As global decarbonization efforts intensify, LNG is increasingly viewed as a transitional fuel for regions phasing out coal. The scale of investment in LNG infrastructure reinforces North America's strategic position as a global energy hub while expanding the commercial scope of the domestic natural gas sector.
Key Market Players
- Exxon Mobil Corporation
- Royal Dutch Shell plc
- Chevron Corporation
- BP p.l.c.
- TotalEnergies SE
- Gazprom PJSC
- ConocoPhillips
- Eni S.p.A.
Report Scope
In this report, the North America Natural Gas Market has been segmented into the following categories, in addition to the industry trends which have also been detailed below:
North America Natural Gas Market, By Type:
- Compressed Natural Gas
- Piped Natural Gas
- Liquified Petroleum Gas
North America Natural Gas Market, By Application:
- Industrial
- Electric Power
- Transportation
- Residential
- Commercial
- Others
North America Natural Gas Market, By Country:
- United States
- Canada
- Mexico
Competitive Landscape
Company Profiles: Detailed analysis of the major companies present in the North America Natural Gas Market.
Available Customizations
North America Natural Gas Market report with the given market data, TechSci Research offers customizations according to a company's specific needs. The following customization options are available for the report:
Company Information
- Detailed analysis and profiling of additional market players (up to five).
1. Product Overview
1.1. Market Definition
1.2. Scope of the Market
1.2.1. Markets Covered
1.2.2. Years Considered for Study
1.3. Key Market Segmentations
2. Research Methodology
2.1. Objective of the Study
2.2. Baseline Methodology
2.3. Formulation of the Scope
2.4. Assumptions and Limitations
2.5. Sources of Research
2.5.1. Secondary Research
2.5.2. Primary Research
2.6. Approach for the Market Study
2.6.1. The Bottom-Up Approach
2.6.2. The Top-Down Approach
2.7. Methodology Followed for Calculation of Market Size & Market Shares
2.8. Forecasting Methodology
2.8.1. Data Triangulation & Validation
3. Executive Summary
3.1. Overview of the Market
3.2. Overview of Key Market Segmentations
3.3. Overview of Key Market Players
3.4. Overview of Key Regions/Countries
3.5. Overview of Market Drivers, Challenges, and Trends
4. Voice of Customer
5. North America Natural Gas Market Outlook
5.1. Market Size & Forecast
5.1.1. By Value
5.2. Market Share & Forecast
5.2.1. By Type (Compressed Natural Gas, Piped Natural Gas, Liquified Petroleum Gas)
5.2.2. By Application (Industrial, Electric Power, Transportation, Residential, Commercial, Others)
5.2.3. By Country (United States, Canada, Mexico)
5.2.4. By Company (2024)
5.3. Market Map
6. United States Natural Gas Market Outlook
6.1. Market Size & Forecast
6.1.1. By Value
6.2. Market Share & Forecast
6.2.1. By Type
6.2.2. By Application
7. Canada Natural Gas Market Outlook
7.1. Market Size & Forecast
7.1.1. By Value
7.2. Market Share & Forecast
7.2.1. By Type
7.2.2. By Application
8. Mexico Natural Gas Market Outlook
8.1. Market Size & Forecast
8.1.1. By Value
8.2. Market Share & Forecast
8.2.1. By Type
8.2.2. By Application
9. Market Dynamics
9.1. Drivers
9.2. Challenges
10. Market Trends & Developments
10.1. Merger & Acquisition (If Any)
10.2. Product Launches (If Any)
10.3. Recent Developments
11. Company Profiles
11.1. Exxon Mobil Corporation
11.1.1. Business Overview
11.1.2. Key Revenue and Financials
11.1.3. Recent Developments
11.1.4. Key Personnel/Key Contact Person
11.1.5. Key Product/Services Offered
11.2. Royal Dutch Shell plc
11.3. Chevron Corporation
11.4. BP p.l.c.
11.5. TotalEnergies SE
11.6. Gazprom PJSC
11.7. ConocoPhillips
11.8. Eni S.p.A.
12. Strategic Recommendations
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