In 2023, the total support for natural gas in general services in Canada stood below 1.04 billion USD. Forecasts indicate a steady increase from 2024 to 2028, with values predicted to rise from 1.04 billion USD in 2024 to 1.69 billion USD by 2028. Year-on-year growth rates are expected to hover around 15% initially, signaling a robust upward trend. Over the five-year forecast period, the compound annual growth rate (CAGR) is anticipated to maintain consistently strong momentum.
Future trends to watch for include:
- Potential regulatory changes impacting natural gas markets, such as environmental policies.
- Technological advancements in energy efficiency and alternative energy sources.
- Fluctuations in global energy prices impacting domestic market dynamics.