Natural Gas Liquids (NGL) Market: 45% of Growth Will Originate in North America | Driven by growing government support for NGL adoption

NEW YORK, March 24, 2022 /PRNewswire/ — Natural gas liquids (NGL) market share is expected to grow by $15.17 billion from 2021 to 2026 in a CAGR of 6.2% according to the latest Technavio market report. 45% of market growth will come from North America during the forecast period. The United States is the key market for natural gas liquids (NGL) in North America. The market growth in this region will be faster than the market growth in other regions. Significant growth in natural gas production, increase in oil refinery throughput, and considerable adoption of NGL in various end-use industries will facilitate the growth of the natural gas liquids (NGL) market in North America during the forecast period.

Technavio has announced its latest market research report titled Natural Gas Liquids (NGLs) Market by Product and Geography - Forecast and Analysis 2022-2026

Technavio has announced its latest market research report titled Natural Gas Liquids (NGLs) Market by Product and Geography – Forecast and Analysis 2022-2026

For more information on the market share of various regions: View FREE sample report in MINUTES

Read the 120-page report with TOC on “Natural Gas Liquids (NGL) Market Analysis Report By Product (Propane, Butane, Pentane, And Ethane) And Geography (North America, middle Eastand Africa, EuropeAPAC and South America), and segment forecasts, 2022-2026″. Gain competitive intelligence on market leaders. Track key industry opportunities, trends, and threats. Insights on marketing, brand, market strategy and development, sales and supply functions. https://www.technavio.com/report/report/natural-gas-liquids-ngls-market-industry-analysis

Natural Gas Liquids (NGL): Drivers and Trends

The key factor driving the growth of the global Natural Gas Liquids (NGL) market is the increase government support for NGL adoption. for example in july 2018the Energy Regulatory Commission, Mexico authorized Walmart with a 30-year commission for offering propane to customers in six municipalities of the Mexican state. the government of Alberta, Canada, has been striving to increase ethane supplies through a combination of loan guarantees, royalty credits and grants through an expanded petrochemicals diversification program. Together with a partial improvement program, these initiatives are expected to attract more than $10 billion in private investment. Also, in september 2018, the Saudi Arabian government began new efforts to eliminate subsidies for necessities such as water and energy. As a result, the price of ethane increased 2.33 times the price of the subsidies. However, this did not impact the cuts in demand for products, and the increases were accepted positively. Such factors will drive the growth of the market during the forecast period.

He too growing need for cleaner fuel is one of the key natural gas liquids market trends that is expected to have a positive impact on the industry in the forecast period. CO2 emissions grew by 1.5% in 2017 compared to 2016, despite relative stability between 2013 and 2016. According to the IEA, in 2016, the transport sector accounted for around eight gigatonnes of CO2, roughly a quarter part of total emissions. As a result, there has been significant adoption of NGL as a power source in various sectors. According to Technavio analysis, global autogas consumption is expected to increase from 27.01 million tons in 2017 to 29.79 million tons in 2022. In addition, LPG is widely used in the residential and leisure sector in RVs, boats and caravans. for example in May 2016, Pradhan Mantri Ujjwala Yojana was released in India Provide new and free LPG connections to women belonging to households in extreme poverty. This is expected to drive market growth in the coming years.

For more drivers and trends along with the challenges: Download a free sample now!

Some of the Key Natural Gas Liquids (NGL) Players:

The natural gas liquids (NGL) market is fragmented and vendors are deploying organic and inorganic growth strategies to compete in the marketplace. The report analyzes the competitive landscape of the market and offers insights on various vendors in the market, including:

  • Aramco Asia India SA Limited.

  • BP PLC

  • Canadian Natural Resources Ltd.

  • Chesapeake Power Corporation.

  • Chevron Corporation.

  • citizen energy

  • ConocoPhillips Co.

  • Equinor-ASA

  • ExxonMobil Corporation.

  • Nigeria LNG Ltd.

  • Ovintiv Inc.

  • PetroChina Co.Ltd.

  • Petroleos de Venezuela S.A.

  • PT Pertamina(Persero)

  • Repsol S.A.

  • Shell plc

  • Silverbow Resources Inc.

  • SM ENERGY

  • TotalEnergies SE

  • Valero Energy Corp.

The Natural Gas Liquids (NGL) Market Forecast Report offers in-depth information on key vendor profiles. The profiles include information on the production, sustainability and perspectives of the leading companies.

Natural Gas Liquids (NGL) Market – Segmentation Analysis

Product Outlook (Revenue, Billions of USD, 2021-2026)

  • Propane – size and forecast 2021-2026

  • Butane – size and forecast 2021-2026

  • Pentane – size and forecast 2021-2026

  • Ethane – size and forecast 2021-2026

Geographic Perspectives (Revenue, Billions of USD, 2021-2026)

  • North America – size and forecast 2021-2026

  • middle East and Africa – size and forecast 2021-2026

  • Europe – size and forecast 2021-2026

  • APAC – size and forecast 2021-2026

  • South America – size and forecast 2021-2026

For additional information on the market contribution of each segment: Get an exclusive FREE report

Related Reports:

  • the LNG infrastructure market The share is expected to increase by USD 4.81 billion between 2021 and 2026, with the market growth momentum accelerating at a CAGR of 6.19%. Download a free sample now!

  • the syngas market in North America it is expected to increase by USD 416.12 million from 2021 to 2026, with the market growth momentum accelerating at a CAGR of 2.62%. Download a free sample now!

Natural Gas Liquids (NGL) Market Scope

Report Coverage

Details

Page number

120

base year

2021

forecast period

2022-2026

Growth momentum and CAGR

Accelerates at a CAGR of 6.2%

Market growth 2022-2026

$15.17 billion

market structure

Fragmented

YoY growth (%)

5.78

Contribution to the real market

North America at 45%

competitive landscape

Leading companies, competitive strategies, scope of consumer engagement

Profiled companies

Aramco Asia India SA Ltd., BP Plc, Canadian Natural Resources Ltd., Chesapeake Energy Corp., Chevron Corp., Citizen Energy, ConocoPhillips Co., Equinor ASA, Exxon Mobil Corp., Nigeria LNG Ltd., Ovintiv Inc., PetroChina Co. Ltd., Petróleos de Venezuela SA, PT Pertamina(Persero), Repsol SA, Shell plc, SilverBow Resources Inc., SM ENERGY, TotalEnergies SE and Valero Energy Corp.

market dynamics

Major market analysis, market growth drivers and obstacles, fast and slow growing segments analysis, impact of COVID 19 and future consumer dynamics, market condition analysis for the forecast period,

Customization Scope

If our report didn’t include the data you’re looking for, you can contact our analysts and get custom segments.

Table of Contents

1. Executive Summary

2 Market Landscape

3 Market size

4 Five Forces Analysis

5 Market segmentation by product

6 Customer Landscape

7 Geographic Landscape

8 drivers, challenges and trends

9 Provider Landscape

10 Supplier Analysis

11 Appendix

About Technavio

Technavio is a world leader in technology research and consulting. His research and analysis focus on emerging market trends and provide actionable insights to help companies identify market opportunities and develop effective strategies to optimize their market positions.

With more than 500 specialist analysts, Technavio’s reporting library consists of more than 17,000 reports and counting, covering 800 technologies and spanning 50 countries. Its client base consists of companies of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, in-depth research, and actionable market insights to identify opportunities in existing markets and and assess their competitive positions within changing market scenarios.

contacts

Technavio Research
Jesse Mayda
Media and Marketing Executive
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United Kingdom: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

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SOURCE Technavio

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