Research firm Technavio has released a new study which analyses the global gas utilities market between 2019 and 2023.
The market is expected to grow by 4% per annum during the forecasted period, and by 41% growth in the EMEA region.
The annual revenue is expected to reach $288.82 billion by 2023.
The gas utilities market is driven by the rise in global carbon emissions, energy demand and in natural gas production from unconventional sources.
The market is fragmented with several players occupying the market share
Major five gas utilities:
Duke Energy Corp. which provides natural gas distribution services to more than 1.60 million customers in Ohio, Kentucky, Tennessee, and the Carolinas in the US.
ENGIE SA owns and operates its business across various segments such as North America, Latin America, Africa/Asia, Benelux, France, Europe (excluding France and Benelux).
PetroChina Co. Ltd. is the largest oil and gas producer and distributor, playing a dominant role in the oil and gas industry in China.
PJSC Gazprom – owned by the Russian government, the utility was founded in 1989 and carries on the business of extraction, production, transport and sale of natural gas.
Southern Co. is headquartered in Atlanta and is the second-largest utility company in the US in terms of customer base.