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GCC Natural Gas Market Size
- Report ID: GMI2636
- Published Date: May 2018
- Report Format: PDF
GCC Natural Gas Market Size
GCC Natural Gas Market size was valued over USD 40 billion in 2017 and is set to expand over 4 % by 2024.
Shifting regulatory policies toward energy transition and sustainable energy sources driven by concerns over fuel diversification will stimulate the GCC natural gas market size. For instance, the UAE as part of its “Energy Strategy 2050” aims at reducing the carbon footprint of power generation by 70% while increasing the share of clean energy in the net energy mix from 25% to 50% by 2050.
Growing need to cater burgeoning domestic demand, achieve self-sufficiency and reinforce energy security will drive the GCC natural gas market share. According to the 2017 BP Energy Outlook, energy consumption across the Gulf region is projected to increase by 54% by 2040, with natural gas representing over 60% of growth. Population growth, improved standards of living, urbanization, and industrialization across the regional economies will further fuel the industry growth.
| Report Attribute | Details |
|---|---|
| Base Year: | 2017 |
| GCC Natural Gas Market Size in 2017: | 40 Billion (USD) |
| Forecast Period: | 2013 to 2017 |
| Forecast Period 2013 to 2017 CAGR: | 4% |
| 2017 Value Projection: | 50 Billion (USD) |
| Historical Data for: | 2018 to 2024 |
| No. of Pages: | 315 |
| Tables, Charts & Figures: | 459 |
| Segments covered: | Product, Application, Supply Mode |
| Growth Drivers: |
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| Pitfalls & Challenges: |
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Frequently Asked Questions (FAQ) :
GCC Natural Gas Market Scope
