Industry Statistics and Trends
Natural Gas Extraction in Europe key trends
Russia’s invasion of Ukraine spurs a shift in European natural gas supplies.
Europe’s efforts to cut its dependence on Russian gas supplies has spurred a surge in natural gas prices across the continent.
Europe's green energy transition threatens natural gas producers.
Natural gas consumption is likely to remain on a downward trajectory as Europe expands renewable generation capacity.
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Natural Gas Extraction in Europe
Industry Revenue
Total value and annual change from 2011-2029. Includes 5-year outlook.
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Natural Gas Extraction in Europe market size (2019-2024)
Industry revenue has declined at a CAGR of 4.4 % over the past five years, to reach an estimated €71.6bn in 2024.
Trends and Insights
Soaring natural gas prices drive a sharp hike in revenue in 2022
- After declining during COVID-19, excess demand for natural gas from global economies emerging from a pandemic-induced slump led to a surge in natural gas prices in 2021, with the Henry Hub Natural Gas (HHNG) spot price reporting a 91.6% climb during the year.
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Natural Gas Extraction in Europe outlook (2024-2029)
Market size is projected to grow over the next five years.
Europe’s green transition poses a threat to natural gas producers
- With Europe’s shift to renewables showing no signs of slowing, natural gas consumption is likely to remain on a long-term downward trajectory in the coming years.
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Revenue
€71.6bn
Employees
179k
Wages
€X.Xbn
European Leaders & Laggards
* CAGR values are for the years 2019-2024.
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Biggest companies in the Natural Gas Extraction in Europe
| Company | Market Share (%)
2024 | Revenue (€m)
2024 | Profit (€m)
2024 | Profit Margin (%)
2024 |
|---|---|---|---|---|
Equinor ASA | 83,145.3 | 30,348.0 | 36.5 | |
Shell plc | 341,122.0 | 37,075.0 | 10.9 | |
TotalEnergies SE | 197,782.3 | 22,183.8 | 11.2 |
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Natural Gas Extraction in Europe
Products & Services Segmentation
Industry revenue broken down by key product and services lines.
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Top Questions Answered in this Report
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What is the market size of the Natural Gas Extraction industry in Europe in 2024?
The market size of the Natural Gas Extraction industry in Europe is €71.6bn in 2024.
How many businesses are there in the Natural Gas Extraction in Europe industry in 2024?
There are 467 businesses in the Natural Gas Extraction industry in Europe, which has grown at a CAGR of 7.8 % between 2019 and 2024.
Has the Natural Gas Extraction industry in Europe grown or declined over the past 5 years?
The market size of the Natural Gas Extraction industry in Europe has been declining at a CAGR of 4.4 % between 2019 and 2024.
What is the forecast growth of the Natural Gas Extraction industry in Europe over the next 5 years?
Over the next five years, the Natural Gas Extraction industry in Europe is expected to grow.
What does the Natural Gas Extraction in Europe include?
Natural gas extraction and are part of the Natural Gas Extraction industry.
Which countries have the most businesses in the Natural Gas Extraction industry in Europe?
The European country with the most businesses in the Natural Gas Extraction industry is Ukraine.
How competitive is the Natural Gas Extraction industry in Europe?
The level of competition is moderate and steady in the Natural Gas Extraction industry in Europe.
Related Industries
This industry is covered in 37 countries
- Natural Gas Extraction in Austria
- Natural Gas Extraction in Norway
- Natural Gas Extraction in Poland
- Natural Gas Extraction in Switzerland
- Natural Gas Extraction in Bulgaria
- Natural Gas Extraction in Romania
- Natural Gas Extraction in the Netherlands
- Natural Gas Extraction in Slovenia
- Natural Gas Extraction in Italy
- Natural Gas Extraction in Denmark
- Natural Gas Extraction in France
- Natural Gas Extraction in Czechia
- Natural Gas Extraction in Germany
- Natural Gas Extraction in North Macedonia
- Natural Gas Extraction in Europe
- Natural Gas Extraction in Spain
- Natural Gas Extraction in Russia
- Natural Gas Extraction in the UK
- Natural Gas Extraction in Hungary
- Natural Gas Extraction in Croatia
Table of Contents
About this industry
Industry definition
Companies in this industry extract natural gas from onshore and offshore fields. The industry also covers the extraction of condensates, the draining and separation of liquid hydrocarbon fractions and gas desulphurisation.
Related Terms
Liquefied Natural Gas (LNG)HydrocarbonRenewable EnergyWhat's included in this industry?
Natural gas extractionCompanies
Equinor ASAShell plcTotalEnergies SEIndustry Code
062 - Extraction of natural gas in Europe
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Performance
Key Takeaways
Soaring natural gas prices drive a sharp hike in revenue in 2022
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Revenue Highlights
Trends
- Revenue
- 2024 Revenue Growth
- Revenue Volatility
Employment Highlights
Trends
- Employees
- Employees per Business
- Revenue per Employee
Business Highlights
Trends
- Businesses
- Employees per Business
- Revenue per Business
Profit Highlights
Trends
- Total Profit
- Profit Margin
- Profit per Business
Current Performance
Charts
- Revenue in the Natural Gas Extraction in Europe industry (2011 -2029)
- Employees in the Natural Gas Extraction in Europe industry (2011 -2029)
- Business in the Natural Gas Extraction in Europe industry (2011 -2029)
- Profit in the Natural Gas Extraction in Europe industry (2011 -2029)
Analysis
What's driving current industry performance in the Natural Gas Extraction in Europe industry?
Outlook
Analysis
What's driving the Natural Gas Extraction in Europe industry outlook?
Volatility
Analysis
What influences volatility in the Natural Gas Extraction in Europe industry?
Charts
- Industry Volatility vs. Revenue Growth Matrix
Life Cycle
Analysis
What determines the industry life cycle stage in the Natural Gas Extraction in Europe industry?
Charts
- Industry Life Cycle Matrix
Products and Markets
Highlights
Trends
- Largest Market
- Product Innovation
Key Takeaways
Natural gas producers face a tough battle with renewables. Despite being the cleanest fossil fuel, natural gas is losing its popularity as a power source for electricity as renewables quickly gather momentum across the continent.
Products and Services
Charts
- Products and Services Segmentation
Analysis
How are the Natural Gas Extraction in Europe industry's products and services performing?
Analysis
What are innovations in the Natural Gas Extraction in Europe industry's products and services?
Major Markets
Charts
- Major Market Segmentation
Analysis
What influences demand in the Natural Gas Extraction in Europe industry?
International Trade
Highlights
- Largest Importer
- Smallest Importer
- Total Imports into Europe
- Largest Exporter
- Smallest Importer
- Total Exports into Europe
Heat maps
- Industry Concentration of Imports by Country
- Industry Concentration of Exports by Country
Data Tables
Value and annual change (%) included
- Number of Imports and Exports by European Country (2024)
Geographic Breakdown
Business Locations
Heat maps
- Share of Total Industry Revenue by Region (2024)
- Share of Total Industry Enterprises by Region (2024)
- Share of Total Industry Employment by Region (2024)
- Share of Total Industry Wages by Region (2024)
Industry Geographic Breakdown
Data Tables
Values and annual change provided for 37 European countries:
- Revenue (2024)
- IVA (2024)
- Enterprises (2024)
- Employment (2024)
- Exports (2024)
- Imports (2024)
Competitive Forces
Highlights
Trends
- Concentration
- Competition
- Barriers to Entry
- Substitutes
- Buyer Power
- Supplier Power
Key Takeaways
Limited natural gas reserves facilitate the dominance of a small number of companies. A few large multinationals and state-owned corporations operate Europe’s major gas fields, though partnerships on oil and gas fields ensure some distribution of income.
Supply Chain
Charts
Buyer and supply industries
Companies
Market Share
Charts
- Industry Market Share by Company (2019-2024)
Companies
Data Tables
Top 10 companies by market share:
- Market share (2024)
- Revenue (2024)
- Profit (2024)
- Profit Margin (2024)
Data Tables
- Countries of operation for Equinor ASA
- Countries of operation for Shell plc
- Countries of operation for TotalEnergies SE
- Countries of operation for Polskie Gornictwo Naftowe i Gazownictwo SA
- Countries of operation for ExxonMobil Corporation
- Countries of operation for ConocoPhillips Company
- Countries of operation for Repsol SA
- Countries of operation for BP plc
- Countries of operation for Wintershall Dea GmbH
- Countries of operation for Eni SpA
External Environment
Highlights
Trends
- Regulation & Policy
- Assistance
Key Takeaways
Natural gas extraction operations are governed by strict protocols. Legislation covers safety standards and the environmental impact of extraction activity, ensuring a balance between growth and sustainable practices.
External Drivers
Analysis
What demographic and macroeconomic factors impact the Natural Gas Extraction in Europe industry?
Financial Benchmarks
Highlights
Trends
- Profit Margin
- Average Wage
- Largest Cost
Key Takeaways
Rising gas prices fire up profitability. Soaring natural gas prices are allowing companies to rake in excess profits, leading governments to intervene with windfall taxes.
Cost Structure
Charts
- Share of Economy vs. Investment Matrix
-
Industry Cost Structure Benchmarks:
- Marketing
- Depreciation
- Profit
- Purchases
- Wages
- Rent
- Utilities
- Other
Analysis
What trends impact cost in the Natural Gas Extraction in Europe industry?
Key Ratios
Data tables
- IVA/Revenue (2014-2029)
- Imports/Demand (2014-2029)
- Exports/Revenue (2014-2029)
- Revenue per Employee (2014-2029)
- Wages/Revenue (2014-2029)
- Employees per Establishment (2014-2029)
- Average Wage (2014-2029)
Country Benchmarks
European Leaders & Laggards
Data Tables
Top and boottom five countries listed for each:
- Revenue Growth (2024)
- Business Growth (2024)
- Job Growth (2024)
European Country Performance
Data Tables
Rankings available for 37 countries. Statistics ranked include:
- IVA/Revenue (2024)
- Imports/Demand (2024)
- Exports/Revenue (2024)
- Revenue per Employee (2024)
- Wages/Revenue (2024)
- Employees per Establishment (2024)
- Average Wage (2024)
Structural Comparison
Data Tables
Trends in 37 countries benchmarked against trends in Europe
- Concentration
- Competition
- Barriers to Entry
- Buyer Power
- Supplier Power
- Volatility
- Capital Intensity
- Innovation
- Life Cycle
Key Statistics
Industry Data
Data Tables
Including values and annual change:
- Revenue (2014-2029)
- IVA (2014-2029)
- Establishments (2014-2029)
- Enterprises (2014-2029)
- Employment (2014-2029)
- Exports (2014-2029)
- Imports (2014-2029)
- Wages (2014-2029)
Methodology
Where does IBISWorld source its data?
IBISWorld is a world-leading provider of business information, with reports on 5,000+ industries in Australia, New Zealand, North America, Europe and China. Our expert industry analysts start with official, verified and publicly available sources of data to build an accurate picture of each industry.
Each industry report incorporates data and research from government databases, industry-specific sources, industry contacts, and IBISWorld's proprietary database of statistics and analysis to provide balanced, independent and accurate insights.
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