| Study Period | 2020 - 2030 |
| Base Year For Estimation | 2024 |
| Forecast Data Period | 2025 - 2030 |
| Historical Data Period | 2020 - 2023 |
| CAGR | 5.00 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
North America Natural Gas Market Analysis
The North America Natural Gas Market is expected to register a CAGR of greater than 5% during the forecast period.
Power generation is the fastest growing segment in the North America Natural gas market. Globally, Natural gas in power generation increased by 2.6% in 2021, although its share decreased from 23.7% in 2020 to 22.9% in 2021.
Moreover, increasing exploration and production of natural gas reserves are mainly driven due to the rise in the industrial demand from the refining, petrochemical, particular chemical, and fertilizer industries are expected to drive the demand for natural gas during the forecast period.
United states is the fastest growing country in the North America Natural gas market during the forecast period.
North America Natural Gas Market Trends
Power generation to Dominate the Market
- Natural gas in power generation increased by 2.6% in 2021, although its share decreased from 23.7% in 2020 to 22.9% in 2021 globally.
- Further, renewable energy continued to grow strongly and is now 13% of total power generation. Clean energy generation increased by almost 17% in 2021, accounting for over half of the increase in global power generation over the past two years.
- Moreover, the total electricity generation in North America is 5383.5 terawatt hours in 2021 compared to 5259.7 terra watts in 2020.
- Hence, owing to the above points, the Power generation segment will likely see significant market growth during the forecast period.
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United States Expected to see Significant the Market Growth
The United States is a major crude oil and natural gas producer in the world, and the country is expected to cover around 60% of the world oil demand in the coming years if the shale oil and gas production follows the same trend as it was witnessed before 2020.
Further, the LNG sector in the United States has historically received significant investments to transform the country into a central exporting hub. As of June 2020, Most of the proposed liquefaction capacity additions are in North America (599.6 MTPA), with 350.5 MTPA located in the United States, 221.8 MTPA in Canada, and 27.4 MTPA in Mexico. The only LNG export project in North America and globally to reach FID in 2020 was the Costa Azul export plant in Mexico, developed by Sempra Energy. During the forecast period, around six LNG liquefaction terminals are expected to reach the FID stage, leading to a positive market outlook in the United States.
As of 2021, approximately all offshore oil and natural gas leasing and development activity occurred in the central and western Gulf of Mexico. Thousands of platforms operate in waters up to 6,000 feet deep. A few platforms operate in depths of 10,000 feet or more.
5 of the 34 natural gas producing states accounted for about 69% of total U.S. dry natural gas production in 2020, and private players are investing in other regions to increase gas production.
Hence, owing to the above points, the United States is expected to see significant market growth in the Natural gas market during the forecast period.
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North America Natural Gas Industry Overview
The Natural gas market is moderately consolidated. Some of the key players in this market are Eni SpA, BP PLC, Total Energies SE, Royal Dutch Shell PLC, and Exxon Mobil Corporation.
North America Natural Gas Market Leaders
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Eni SpA
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BP PLC
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Total Energies SE
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Royal Dutch Shell PLC
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Exxon Mobil Corporation.
- *Disclaimer: Major Players sorted in no particular order
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North America Natural Gas Market News
- In July 2022, Sempra Infrastructure signed an agreement with Mexico's Federal Electricity Commission to advance the joint development of critical energy infrastructure projects in Mexico, including the rerouting of the Guaymas-El Oro pipeline in Sonora, the proposed Vista Pacífico LNG project in Topolobampo, Sinaloa, and the potential development of a liquefied natural gas (LNG) terminal in Salina Cruz, Oaxaca.
North America Natural Gas Industry Segmentation
The Natural gas market report includes:
| Source | Conventional Gas |
| Unconventional gas | |
| Application | Automotive |
| Power generation | |
| Household | |
| Industrial Fuel | |
| Countries | Canada |
| USA | |
| Mexico |
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North America Natural Gas Market Research FAQs
What is the current North America Natural Gas Market size?
The North America Natural Gas Market is projected to register a CAGR of greater than 5% during the forecast period (2025-2030)
Who are the key players in North America Natural Gas Market?
Eni SpA, BP PLC, Total Energies SE, Royal Dutch Shell PLC and Exxon Mobil Corporation. are the major companies operating in the North America Natural Gas Market.
What years does this North America Natural Gas Market cover?
The report covers the North America Natural Gas Market historical market size for years: 2020, 2021, 2022, 2023 and 2024. The report also forecasts the North America Natural Gas Market size for years: 2025, 2026, 2027, 2028, 2029 and 2030.
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North America Natural Gas Industry Report
Statistics for the 2025 North America Natural Gas market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. North America Natural Gas analysis includes a market forecast outlook for 2025 to 2030 and historical overview. Get a sample of this industry analysis as a free report PDF download.
