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Natural Gas Liquids (NGLs) Market by Product and Geography - Forecast and Analysis 2022-2026

  • Published: Mar 2022
  • Pages: 141
  • SKU: IRTNTR72835
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The natural gas liquids (NGLs) market share is expected to increase to USD 15.17 billion from 2021 to 2026, and the market's growth momentum will accelerate at a CAGR of 6.2%.

This natural gas liquids (NGLs) market research report extensively covers natural gas liquids (NGLs) market segmentation by product (propane, butane, pentane, and ethane) and geography (North America, Middle East and Africa, Europe, APAC, and South America). The natural gas liquids market report also offers information on several market vendors, including Aramco Asia India Pvt. Ltd., BP Plc, Canadian Natural Resources Ltd., Chesapeake Energy Corp., Chevron Corp., Citizen Energy, ConocoPhillips Co., Equinor ASA, Exxon Mobil Corp., Nigeria LNG Ltd., Ovintiv Inc., PetroChina Co. Ltd., Petroleos de Venezuela SA, PT Pertamina(Persero), Repsol SA, Shell plc, SilverBow Resources Inc., SM ENERGY, TotalEnergies SE, and Valero Energy Corp. among others.

What will the Natural Gas Liquids (NGLs) Market Size be During the Forecast Period?

Natural Gas Liquids (NGLs) Market Size

Download the Free Report Sample to Unlock the Natural Gas Liquids (NGLs) Market Size for the Forecast Period and Other Important Statistics

 

Parent Market Analysis

Technavio categorizes the global natural gas liquids (NGLs) market as a part of the global oil and gas refining and marketing market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the natural gas liquids (NGLs) market during the forecast period.

Who are the Major Natural Gas Liquids (NGLs) Market Vendors?

The report analyzes the market's competitive landscape and offers information on several market vendors, including:

 

  • Aramco Asia India Pvt. Ltd.
  • BP Plc
  • Canadian Natural Resources Ltd.
  • Chesapeake Energy Corp.
  • Chevron Corp.
  • Citizen Energy
  • ConocoPhillips Co.
  • Equinor ASA
  • Exxon Mobil Corp.
  • Nigeria LNG Ltd.
  • Ovintiv Inc.
  • PetroChina Co. Ltd.
  • Petroleos de Venezuela SA
  • PT Pertamina(Persero)
  • Repsol SA
  • Shell plc
  • SilverBow Resources Inc.
  • SM ENERGY
  • TotalEnergies SE
  • Valero Energy Corp.

 

This statistical study of the natural gas liquids (NGLs) market encompasses successful business strategies deployed by the key vendors. The natural gas liquids (NGLs) market is fragmented and the vendors are deploying organic and inorganic growth strategies to compete in the market.

Product Insights and News

  • Aramco Asia India Pvt. Ltd. - The company offers natural gas liquids that includes gasoline, diesel, crude oil, sulfur, LPG, propane, butane, natural gasoline. 
  • Aramco Asia India Pvt. Ltd. - Under the unified segment, the company offers natural gas liquids that include gasoline, diesel, crude oil, sulfur, LPG, propane, butane, and natural gasoline.  

To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

The natural gas liquids (NGLs) market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.

Natural Gas Liquids (NGLs) Market Value Chain Analysis

Our report provides extensive information on the value chain analysis for the natural gas liquids (NGLs) market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.

Natural Gas Liquids (NGLs) Market: Key Drivers, Trends, and Challenges

The increasing government support for the adoption of NGLs is notably driving the natural gas liquids (NGLs) market growth, although factors such as fluctuation in oil and gas prices may impede market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the natural gas liquids (NGLs) industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.

Key Natural Gas Liquids (NGLs) Market Driver

One of the key factors driving the global NGLs market growth is the increasing government support for the adoption of NGL. For instance, in July 2018, the Energy Regulatory Commission, Mexico authorized Walmart with a 30-year commission for offering propane to customers in six Mexican state municipalities. The government of Alberta, Canada, has made efforts to increase ethane supplies through a combination of loan guarantees, royalty credits, and grants through an expanded petrochemicals diversification program. Coupled with a partial upgrading program, these initiatives are expected to attract more than USD 10 billion in private investment. Moreover, in September 2018, the Saudi Arabian government began new efforts to unwind subsidies for necessities such as water and energy. As a result, the price of ethane rose by 2.33 times the price of subsidies. However, this did not impact the demand for products cuts, and the hikes were positively accepted. Such factors will drive the market growth during the forecast period.

Key Natural Gas Liquids (NGLs) Market Trend

Rising need for cleaner fuel is one of the key natural gas liquids market trends that is expected to impact the industry positively in the forecast period. CO2 emissions grew by 1.5% in 2017 from 2016, despite relative stability between 2013 and 2016. Per the IEA, in 2016, the transportation sector accounted for around eight gigatons of CO2, about one-quarter of the total emissions. As a result, there has been significant adoption of NGLs as a source of energy in various sectors. According to Technavio analysis, global autogas consumption is expected to rise from 27.01 million tons in 2017 to 29.79 million tons by 2022. In addition, LPG is extensively used in the residential sector and for leisure in recreational vehicles, boats, and caravans. For instance, in May 2016, Pradhan Mantri Ujjwala Yojana was launched in India to provide new and free LPG connections to women belonging to extremely poor households. This is expected to boost the market growth in the coming years.

Key Natural Gas Liquids (NGLs) Market Challenge

One of the key challenges to the global NGLs market growth is the fluctuation in oil and gas prices. For instance, according to the IEA, the average cost of crude oil import declined from USD 96.23 per barrel in 2014 to USD 42.70 per barrel in 2016. Due to the loss of faith of the investors in the market growth, the oil and gas sector was unable to attract substantial investments. Moreover, diesel and gasoline can substitute NGLs in many end-user sectors. Countries such as the US and Saudi Arabia account for a major production of propane and ethane, thus significantly influencing their prices. For instance, the international benchmark for LPG cost in Australia is the Saudi Aramco contract price known as Saudi CP. The Saudi CP varies on a monthly basis, thus resulting in LPG price reviews in Australia at least once every month. Hence, fluctuations in crude oil prices significantly affect the pricing of NGLs, thus posing a challenge for the market.

This natural gas liquids (NGLs) market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.

Which are the Key Regions for Natural Gas Liquids (NGLs) Market?

Natural Gas Liquids (NGLs) Market Market segmentation by region

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45% of the market's growth will originate from North America during the forecast period. The US is the key market for natural gas liquids (NGLs) in North America. Market growth in this region will be faster than the growth of the market in other regions.

The significant growth in production of natural gas, increase in oil refinery throughput, and the considerable adoption of NGL across various end-use industries will facilitate the natural gas liquids (NGLs) market growth in North America over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.

COVID Impact and Recovery Analysis

The regional market witnessed certain challenges due to the COVID-19 pandemic in 2020. The US was the most affected country by the pandemic in the region. The outbreak led the governments of several countries across the region, such as the US and Canada, to impose a total lockdown, which, in turn, led people to isolate themselves in their homes. Following the outbreak in 2020, many oil and gas companies either stopped operating or reduced their operations, which impacted oil and gas production in both upstream and downstream operations. However, with mass vaccination drives, there has been a rise in transportation and industrial activities in 2021, and the regional market is expected to grow during the forecast period. 

What are the Revenue-generating Product Segments in the Natural Gas Liquids (NGLs) Market?

Natural Gas Liquids (NGLs) Market Segmentation

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The natural gas liquids (NGLs) market share growth by the propane segment will be significant during the forecast period. The significant increase in the demand for propane from the residential and petrochemical sectors is expected to drive the growth of the global NGLs market for propane in the coming years.

This report provides an accurate prediction of the contribution of all the segments to the growth of the natural gas liquids (NGLs) market size and actionable market insights on post COVID-19 impact on each segment.

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Natural Gas Liquids (NGLs) Market Scope

Report Coverage

Details

Page number

120

Base year

2021

Forecast period

2022-2026

Growth momentum & CAGR

Accelerate at a CAGR of 6.2%

Market growth 2022-2026

$ 15.17 billion

Market structure

Fragmented

YoY growth (%)

5.78

Regional analysis

North America, Middle East and Africa, Europe, APAC, and South America

Performing market contribution

North America at 45%

Key consumer countries

US, Iran, Saudi Arabia, China, and Russia

Competitive landscape

Leading companies, Competitive strategies, Consumer engagement scope

Key companies profiled

Aramco Asia India Pvt. Ltd., BP Plc, Canadian Natural Resources Ltd., Chesapeake Energy Corp., Chevron Corp., Citizen Energy, ConocoPhillips Co., Equinor ASA, Exxon Mobil Corp., Nigeria LNG Ltd., Ovintiv Inc., PetroChina Co. Ltd., Petroleos de Venezuela SA, PT Pertamina(Persero), Repsol SA, Shell plc, SilverBow Resources Inc., SM ENERGY, TotalEnergies SE, and Valero Energy Corp.

Market dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period

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What are the Key Data Covered in this Natural Gas Liquids (NGLs) Market Report?

  • CAGR of the market during the forecast period 2022-2026
  • Detailed information on factors that will drive natural gas liquids (NGLs) market growth during the next five years
  • Precise estimation of the natural gas liquids (NGLs) market size and its contribution to the parent market
  • Accurate predictions on upcoming trends and changes in consumer behavior
  • The growth of the natural gas liquids (NGLs) industry across North America, Middle East and Africa, Europe, APAC, and South America
  • A thorough analysis of the market's competitive landscape and detailed information on vendors
  • Comprehensive details of factors that will challenge the growth of natural gas liquids (NGLs) market vendors

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1 Executive Summary

  • 1.1 Market overview
    • Exhibit 01: Executive Summary – Chart on Market Overview
    • Exhibit 02: Executive Summary – Data Table on Market Overview
    • Exhibit 03: Executive Summary – Chart on Global Market Characteristics
    • Exhibit 04: Executive Summary – Chart on Market by Geography
    • Exhibit 05: Executive Summary – Chart on Market Segmentation by Product
    • Exhibit 06: Executive Summary – Chart on Incremental Growth
    • Exhibit 07: Executive Summary – Data Table on Incremental Growth
    • Exhibit 08: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

  • 2.1 Market ecosystem
    • Exhibit 09: Parent market
    • Exhibit 10: Market Characteristics

3 Market Sizing

  • 3.1 Market definition
    • Exhibit 11: Offerings of vendors included in the market definition
  • 3.2 Market segment analysis
    • Exhibit 12: Market segments
  • 3.3 Market size 2021
    • 3.4 Market outlook: Forecast for 2021-2026
      • Exhibit 13: Chart on Global - Market size and forecast 2021-2026 ($ billion)
      • Exhibit 14: Data Table on Global - Market size and forecast 2021-2026 ($ billion)
      • Exhibit 15: Chart on Global Market: Year-over-year growth 2021-2026 (%)
      • Exhibit 16: Data Table on Global Market: Year-over-year growth 2021-2026 (%)

    4 Five Forces Analysis

    • 4.1 Five forces summary
      • Exhibit 17: Five forces analysis - Comparison between 2021 and 2026
    • 4.2 Bargaining power of buyers
      • Exhibit 18: Bargaining power of buyers – Impact of key factors in 2021 and 2026
    • 4.3 Bargaining power of suppliers
      • Exhibit 19: Bargaining power of suppliers – Impact of key factors in 2021 and 2026
    • 4.4 Threat of new entrants
      • Exhibit 20: Threat of new entrants – Impact of key factors in 2021 and 2026
    • 4.5 Threat of substitutes
      • Exhibit 21: Threat of substitutes – Impact of key factors in 2021 and 2026
    • 4.6 Threat of rivalry
      • Exhibit 22: Threat of rivalry – Impact of key factors in 2021 and 2026
    • 4.7 Market condition
      • Exhibit 23: Chart on Market condition - Five forces 2021 and 2026

    5 Market Segmentation by Product

    • 5.1 Market segments
      • Exhibit 24: Chart on Product - Market share 2021-2026 (%)
      • Exhibit 25: Data Table on Product - Market share 2021-2026 (%)
    • 5.2 Comparison by Product
      • Exhibit 26: Chart on Comparison by Product
      • Exhibit 27: Data Table on Comparison by Product
    • 5.3 Propane - Market size and forecast 2021-2026
      • Exhibit 28: Chart on Propane - Market size and forecast 2021-2026 ($ billion)
      • Exhibit 29: Data Table on Propane - Market size and forecast 2021-2026 ($ billion)
      • Exhibit 30: Chart on Propane - Year-over-year growth 2021-2026 (%)
      • Exhibit 31: Data Table on Propane - Year-over-year growth 2021-2026 (%)
    • 5.4 Butane - Market size and forecast 2021-2026
      • Exhibit 32: Chart on Butane - Market size and forecast 2021-2026 ($ billion)
      • Exhibit 33: Data Table on Butane - Market size and forecast 2021-2026 ($ billion)
      • Exhibit 34: Chart on Butane - Year-over-year growth 2021-2026 (%)
      • Exhibit 35: Data Table on Butane - Year-over-year growth 2021-2026 (%)
    • 5.5 Pentane - Market size and forecast 2021-2026
      • Exhibit 36: Chart on Pentane - Market size and forecast 2021-2026 ($ billion)
      • Exhibit 37: Data Table on Pentane - Market size and forecast 2021-2026 ($ billion)
      • Exhibit 38: Chart on Pentane - Year-over-year growth 2021-2026 (%)
      • Exhibit 39: Data Table on Pentane - Year-over-year growth 2021-2026 (%)
    • 5.6 Ethane - Market size and forecast 2021-2026
      • Exhibit 40: Chart on Ethane - Market size and forecast 2021-2026 ($ billion)
      • Exhibit 41: Data Table on Ethane - Market size and forecast 2021-2026 ($ billion)
      • Exhibit 42: Chart on Ethane - Year-over-year growth 2021-2026 (%)
      • Exhibit 43: Data Table on Ethane - Year-over-year growth 2021-2026 (%)
    • 5.7 Market opportunity by Product
      • Exhibit 44: Market opportunity by Product ($ billion)

    6 Customer Landscape

    • 6.1 Customer landscape overview
      • Exhibit 45: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

    7 Geographic Landscape

    • 7.1 Geographic segmentation
      • Exhibit 46: Chart on Market share by geography 2021-2026 (%)
      • Exhibit 47: Data Table on Market share by geography 2021-2026 (%)
    • 7.2 Geographic comparison
      • Exhibit 48: Chart on Geographic comparison
      • Exhibit 49: Data Table on Geographic comparison
    • 7.3 North America - Market size and forecast 2021-2026
      • Exhibit 50: Chart on North America - Market size and forecast 2021-2026 ($ billion)
      • Exhibit 51: Data Table on North America - Market size and forecast 2021-2026 ($ billion)
      • Exhibit 52: Chart on North America - Year-over-year growth 2021-2026 (%)
      • Exhibit 53: Data Table on North America - Year-over-year growth 2021-2026 (%)
    • 7.4 Middle East and Africa - Market size and forecast 2021-2026
      • Exhibit 54: Chart on Middle East and Africa - Market size and forecast 2021-2026 ($ billion)
      • Exhibit 55: Data Table on Middle East and Africa - Market size and forecast 2021-2026 ($ billion)
      • Exhibit 56: Chart on Middle East and Africa - Year-over-year growth 2021-2026 (%)
      • Exhibit 57: Data Table on Middle East and Africa - Year-over-year growth 2021-2026 (%)
    • 7.5 Europe - Market size and forecast 2021-2026
      • Exhibit 58: Chart on Europe - Market size and forecast 2021-2026 ($ billion)
      • Exhibit 59: Data Table on Europe - Market size and forecast 2021-2026 ($ billion)
      • Exhibit 60: Chart on Europe - Year-over-year growth 2021-2026 (%)
      • Exhibit 61: Data Table on Europe - Year-over-year growth 2021-2026 (%)
    • 7.6 APAC - Market size and forecast 2021-2026
      • Exhibit 62: Chart on APAC - Market size and forecast 2021-2026 ($ billion)
      • Exhibit 63: Data Table on APAC - Market size and forecast 2021-2026 ($ billion)
      • Exhibit 64: Chart on APAC - Year-over-year growth 2021-2026 (%)
      • Exhibit 65: Data Table on APAC - Year-over-year growth 2021-2026 (%)
    • 7.7 South America - Market size and forecast 2021-2026
      • Exhibit 66: Chart on South America - Market size and forecast 2021-2026 ($ billion)
      • Exhibit 67: Data Table on South America - Market size and forecast 2021-2026 ($ billion)
      • Exhibit 68: Chart on South America - Year-over-year growth 2021-2026 (%)
      • Exhibit 69: Data Table on South America - Year-over-year growth 2021-2026 (%)
    • 7.8 US - Market size and forecast 2021-2026
      • Exhibit 70: Chart on US - Market size and forecast 2021-2026 ($ billion)
      • Exhibit 71: Data Table on US - Market size and forecast 2021-2026 ($ billion)
      • Exhibit 72: Chart on US - Year-over-year growth 2021-2026 (%)
      • Exhibit 73: Data Table on US - Year-over-year growth 2021-2026 (%)
    • 7.9 Russia - Market size and forecast 2021-2026
      • Exhibit 74: Chart on Russia - Market size and forecast 2021-2026 ($ billion)
      • Exhibit 75: Data Table on Russia - Market size and forecast 2021-2026 ($ billion)
      • Exhibit 76: Chart on Russia - Year-over-year growth 2021-2026 (%)
      • Exhibit 77: Data Table on Russia - Year-over-year growth 2021-2026 (%)
    • 7.10 China - Market size and forecast 2021-2026
      • Exhibit 78: Chart on China - Market size and forecast 2021-2026 ($ billion)
      • Exhibit 79: Data Table on China - Market size and forecast 2021-2026 ($ billion)
      • Exhibit 80: Chart on China - Year-over-year growth 2021-2026 (%)
      • Exhibit 81: Data Table on China - Year-over-year growth 2021-2026 (%)
    • 7.11 Iran - Market size and forecast 2021-2026
      • Exhibit 82: Chart on Iran - Market size and forecast 2021-2026 ($ billion)
      • Exhibit 83: Data Table on Iran - Market size and forecast 2021-2026 ($ billion)
      • Exhibit 84: Chart on Iran - Year-over-year growth 2021-2026 (%)
      • Exhibit 85: Data Table on Iran - Year-over-year growth 2021-2026 (%)
    • 7.12 Saudi Arabia - Market size and forecast 2021-2026
      • Exhibit 86: Chart on Saudi Arabia - Market size and forecast 2021-2026 ($ billion)
      • Exhibit 87: Data Table on Saudi Arabia - Market size and forecast 2021-2026 ($ billion)
      • Exhibit 88: Chart on Saudi Arabia - Year-over-year growth 2021-2026 (%)
      • Exhibit 89: Data Table on Saudi Arabia - Year-over-year growth 2021-2026 (%)
    • 7.13 Market opportunity by geography
      • Exhibit 90: Market opportunity by geography ($ billion)

    8 Drivers, Challenges, and Trends

    • 8.1 Market drivers
      • 8.2 Market challenges
        • 8.3 Impact of drivers and challenges
          • Exhibit 91: Impact of drivers and challenges in 2021 and 2026
        • 8.4 Market trends

          9 Vendor Landscape

          • 9.1 Overview
            • 9.2 Vendor landscape
              • Exhibit 92: Overview on Criticality of inputs and Factors of differentiation
            • 9.3 Landscape disruption
              • Exhibit 93: Overview on factors of disruption
            • 9.4 Industry risks
              • Exhibit 94: Impact of key risks on business

            10 Vendor Analysis

            • 10.1 Vendors covered
              • Exhibit 95: Vendors covered
            • 10.2 Market positioning of vendors
              • Exhibit 96: Matrix on vendor position and classification
            • 10.3 Aramco Asia India Pvt. Ltd.
              • Exhibit 97: Aramco Asia India Pvt. Ltd. - Overview
              • Exhibit 98: Aramco Asia India Pvt. Ltd. - Product / Service
              • Exhibit 99: Aramco Asia India Pvt. Ltd. - Key offerings
            • 10.4 BP Plc
              • Exhibit 100: BP Plc - Overview
              • Exhibit 101: BP Plc - Business segments
              • Exhibit 102: BP Plc - Key offerings
              • Exhibit 103: BP Plc - Segment focus
            • 10.5 Canadian Natural Resources Ltd.
              • Exhibit 104: Canadian Natural Resources Ltd. - Overview
              • Exhibit 105: Canadian Natural Resources Ltd. - Product / Service
              • Exhibit 106: Canadian Natural Resources Ltd. - Key offerings
            • 10.6 Chesapeake Energy Corp.
              • Exhibit 107: Chesapeake Energy Corp. - Overview
              • Exhibit 108: Chesapeake Energy Corp. - Product / Service
              • Exhibit 109: Chesapeake Energy Corp. - Key offerings
            • 10.7 Chevron Corp.
              • Exhibit 110: Chevron Corp. - Overview
              • Exhibit 111: Chevron Corp. - Business segments
              • Exhibit 112: Chevron Corp. - Key news
              • Exhibit 113: Chevron Corp. - Key offerings
              • Exhibit 114: Chevron Corp. - Segment focus
            • 10.8 ConocoPhillips Co.
              • Exhibit 115: ConocoPhillips Co. - Overview
              • Exhibit 116: ConocoPhillips Co. - Business segments
              • Exhibit 117: ConocoPhillips Co. - Key offerings
              • Exhibit 118: ConocoPhillips Co. - Segment focus
            • 10.9 Exxon Mobil Corp.
              • Exhibit 119: Exxon Mobil Corp. - Overview
              • Exhibit 120: Exxon Mobil Corp. - Business segments
              • Exhibit 121: Exxon Mobil Corp. - Key offerings
              • Exhibit 122: Exxon Mobil Corp. - Segment focus
            • 10.10 Nigeria LNG Ltd.
              • Exhibit 123: Nigeria LNG Ltd. - Overview
              • Exhibit 124: Nigeria LNG Ltd. - Product / Service
              • Exhibit 125: Nigeria LNG Ltd. - Key offerings
            • 10.11 Ovintiv Inc.
              • Exhibit 126: Ovintiv Inc. - Overview
              • Exhibit 127: Ovintiv Inc. - Business segments
              • Exhibit 128: Ovintiv Inc. - Key offerings
              • Exhibit 129: Ovintiv Inc. - Segment focus
            • 10.12 Shell plc
              • Exhibit 130: Shell plc - Overview
              • Exhibit 131: Shell plc - Business segments
              • Exhibit 132: Shell plc - Key news
              • Exhibit 133: Shell plc - Key offerings
              • Exhibit 134: Shell plc - Segment focus

            11 Appendix

            • 11.1 Scope of the report
              • 11.2 Inclusions and exclusions checklist
                • Exhibit 135: Inclusions checklist
                • Exhibit 136: Exclusions checklist
              • 11.3 Currency conversion rates for US$
                • Exhibit 137: Currency conversion rates for US$
              • 11.4 Research methodology
                • Exhibit 138: Research methodology
                • Exhibit 139: Validation techniques employed for market sizing
                • Exhibit 140: Information sources
              • 11.5 List of abbreviations
                • Exhibit 141: List of abbreviations

              Research Framework

              Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

              TechnavioINFORMATION SOURCES

              Primary sources

              • Manufacturers and suppliers
              • Channel partners
              • Industry experts
              • Strategic decision makers

              Secondary sources

              • Industry journals and periodicals
              • Government data
              • Financial reports of key industry players
              • Historical data
              • Press releases
              Technavio

              TechnavioDATA ANALYSIS

              Data Synthesis

              • Collation of data
              • Estimation of key figures
              • Analysis of derived insights

              Data Validation

              • Triangulation with data models
              • Reference against proprietary databases
              • Corroboration with industry experts
              Technavio

              TechnavioREPORT WRITING

              Qualitative

              • Market drivers
              • Market challenges
              • Market trends
              • Five forces analysis

              Quantitative

              • Market size and forecast
              • Market segmentation
              • Geographical insights
              • Competitive landscape
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              Natural Gas Liquids (NGLs) market growth will increase by $15.17 billion during 2022-2026.
              The natural gas liquids (ngls) market is expected to grow at a CAGR of 6.2% during 2022-2026.
              Technavio has segmented the natural gas liquids (ngls) market by product (Propane, Butane, Pentane, and Ethane) and geographic (North America, Middle East and Africa, Europe, APAC, and South America).
              Aramco Asia India Pvt. Ltd., BP Plc, Canadian Natural Resources Ltd., Chesapeake Energy Corp., Chevron Corp., Citizen Energy, ConocoPhillips Co., Equinor ASA, Exxon Mobil Corp., Nigeria LNG Ltd., Ovintiv Inc., PetroChina Co. Ltd., Petroleos de Venezuela SA, PT Pertamina(Persero), Repsol SA, Shell plc, SilverBow Resources Inc., SM ENERGY, TotalEnergies SE, Valero Energy Corp. are a few of the key vendors in the natural gas liquids (ngls) market.
              North America will register the highest growth rate of 44.5% among the other regions. Therefore, the natural gas liquids (ngls) market in North America is expected to garner significant business opportunities for the vendors during the forecast period.
              The key factors driving the natural gas liquids (ngls) market growth are:
              • Increasing government support for the adoption of NGLs
              • Rising need for cleaner fuel
              The natural gas liquids (ngls) market vendors should focus on grabbing business opportunities from the propane segment as it accounted for the largest market share in the base year.
              • What are the key global market and the regional market share?
              • What are the revenue-generating key market segments?
              • What are the key factors driving and challenging this market’s growth?
              • Who are the key market vendors and their growth strategies?
              • What are the latest trends influencing the growth of this market?
              • What are the variables influencing the market growth in the primary regions?
              • What are the factors influencing the growth of the parent market?
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