North America Natural Gas Market to Surpass $623 Billion by 2030

SEATTLE (Oil Monster): A recent study by ResearchAndMarkets.com projects that the North American natural gas market will expand at a compound annual growth rate (CAGR) of 6.15% between 2024 and 2030. It should be mentioned that the market will be worth approximately $623 billion by 2030, up from $435.26 billion in 2024.

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According to the study, the market is expanding steadily due to growing demand for greener energy sources across all industries, particularly in the transportation and industrial sectors. Because of its lower carbon emissions, natural gas has become a preferred fuel when compared to coal and oil. It has also shown itself to be adaptable and effective in producing energy.

Despite having large reserves, the North American natural gas market still faces significant obstacles. Infrastructure limitations have affected the distribution of supplies. Pipeline constraints have significantly impacted the delivery of gas from shale basins to end customers, particularly in the Northeastern United States and portions of Western Canada.

New pipeline projects are often impacted by environmentalist protests, complicated regulatory requirements, and permission delays.