Market Size of Europe Gas Industry
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2020 - 2022 |
| CAGR | > 2.50 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Europe Gas Market Analysis
The European gas market is expected to register a CAGR of over 2.5% during the forecast period.
The COVID-19 pandemic negatively impacted the market in 2020. Presently, the market has reached pre-pandemic levels.
- Over the long term, factors such as the surge in demand for natural gas within countries, namely Germany, the United Kingdom, and Italy, are expected to drive the market during the forecast period.
- On the other hand, the increasing benefits of renewables, and the region's plan to increase the share of renewables in the energy mix, complemented by volatile natural gas prices, are expected to restrain the growth of the studied market.
- Nevertheless, technological improvements and increased natural gas production from numerous gas fields, such as the Groningen natural gas field, Snohvit gas field, and Troll oil and gas fields, are expected to create ample opportunities for the market players.
- Norway is expected to dominate the market due to its increasing natural gas production during the forecast period.
