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Subject: MRR

Dry Natural Gas Market to reach US$ 1.6 Trn by the end of 2031: TMR Study


WILMINGTON, Del., Dec. 7, 2022 /PRNewswire/ -- The Global Dry Natural Gas Market is projected to grow at a CAGR of 7.1% from 2022 to 2031. Dry natural gas, also known as dry gas, is entirely composed of methane. It is what remains after all impurities have been removed from natural gas. To create better, efficient, and environmentally friendly dry natural gas, impurities such as liquid or gaseous hydrocarbons including octane, hexane, and others, as well as non-hydrocarbons such as nitrogen, helium, and others, must be excluded from natural gas. Dry natural gas is widely used in cooling and heating applications, as well as electrical power generation, across the world.

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According to TMR report, the global Dry Natural Gas Market was valued at US$ 841.7 Bn in 2021 and is likely to reach US$ 1.6 Trn by the end of 2031. Vehicles can run on compressed dry gas. Natural gas supply is safe, readily available, and cost efficient. Thus, the demand for dry natural gas is steadily increasing, while conventional gas has been declining rapidly. This is projected to bolster the dry natural gas industry during the forecast period.

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Key Findings of Study

Key Drivers

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Regional Growth Dynamics

Key Players

The global Dry Natural Gas Market is consolidated, with the presence of a small number of prominent vendors. Increase in onshore and offshore activities is expected to fuel market competition. Furthermore, joint ventures, collaborations, and merger & acquisition strategies will enable players to boost market share during the forecast period.

Prominent players in the global Dry Natural Gas Market are

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Dry Natural Gas Market Segmentation

Source

End-use

Regions

Countries

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About Transparency Market Research

Transparency Market Research, a global market research company registered at Wilmington, Delaware, United States, provides custom research and consulting services. The firm scrutinizes factors shaping the dynamics of demand in various markets. The insights and perspectives on the markets evaluate opportunities in various segments. The opportunities in the segments based on source, application, demographics, sales channel, and end-use are analysed, which will determine growth in the markets over the next decade.

Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insights for thousands of decision-makers, made possible by experienced teams of Analysts, Researchers, and Consultants. The proprietary data sources and various tools & techniques we use always reflect the latest trends and information. With a broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in all of its business reports.

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News published on 7 december 2022 at 09:30 and distributed by: