The gas production in the US has exhibited a steady upward trajectory from 2013 to 2023, with the value reaching 1010.0 Billion Cubic Meters in 2023. There were fluctuations in year-on-year variations, including noteworthy increases in years like 2018 and 2019, and minor declines in 2016 and 2020. Over the past five years, the compound annual growth rate (CAGR) stands at 3.71%, indicating a consistent increase in production.
The forecast for the future suggests continued growth, with production projected to reach 1160.0 Billion Cubic Meters by 2028. The forecasted CAGR for the next five years is 2.2%, reflecting a slower but steady growth rate. This indicates a cumulative forecasted growth rate of 11.5% from 2023 to 2028.
Trends to watch for in the future include the impact of technological advancements, regulatory changes, and global demand shifts for natural gas. Additionally, the potential for renewable energy sources to affect gas production in the US should be monitored closely.
