Market Size of Middle East Natural Gas Industry
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2020 - 2022 |
| CAGR | > 5.00 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Natural Gas in Middle East Market Analysis
The Middle East Natural gas market is projected to register a CAGR of over 5% in the current year.
COVID-19 negatively impacted the market in 2020. Presently the market has now reached pre-pandemic levels.
- Increasing demand for natural gas in the Chemical, Industrial, and transportation sector are expected to drive the demand for natural gas during the forecast period.
- Technological advancements in extracting natural gas create ample opportunities for the market player in the given region.
- Volatility in crude oil prices is hindering the market.
- During the forecast period, Saudi Arabia will be the fastest-growing country in the Middle East Natural gas market. The natural gas share increased to 55% of total energy demand in the Middle East from 52% in 2019 and 45% in 2009.
