Gas Utilities Market by End-Users and Geography - Global Forecast and Analysis 2019-2023

The global gas utilities market size will grow by USD 288.92 billion during 2019-2023. This market report provides a detailed analysis of the market by end-users (power generation, residential and commercial, industrial, and others) and geography (the Americas, APAC, and EMEA). Also, the report analyzes the market’s competitive landscape and offers information on several market vendors, including Duke Energy Corp., ENGIE SA, PetroChina Co. Ltd., PJSC Gazprom, and Southern Co.
Key Insights on Gas Utilities Market - Global Forecast 2019-2023
Gas Utilities Market

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Industry Overview

The growth in natural gas production from unconventional sources has been identified as one of the critical gas utilities market trends. Several oil and gas companies are making significant investments in shale oil and gas exploration. For instance, Exxon Mobil Corp. is planning to increase its shale production per day by three times in the Permian Basin by 2025. PetroChina has also announced the development of shale gas resources in the Sichuan province and other areas in China. The company is planning to increase its shale gas production to 12 bcm by 2020. Similarly, the Saudi Arabian Oil Co. and Halliburton are planning to invest over USD 150 billion to expand their unconventional oil and gas production in Saudi Arabia. This rapid growth in unconventional gas reserves will boost natural gas production and consequently fuel the growth of the gas utilities market during the next five years.

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