Unconventional Gas - Global Market Outlook (2017-2026)
According to Stratistics MRC, the Global Unconventional Gas market growing at a CAGR of 10.61% during the forecast period. Some of the key factors such as exhaustion of conventional gas reserves and its importance as a primary source of affordable energy for residential, transportation and industrial users, the development of gas from unconventional reservoirs are driving the market growth. However, volatility in gas prices and threat to human health, safety and the environment, especially if effective risk-management practices are not implemented are the restraining factors for the market growth. Moreover, rapid technological advancements, the growth of contracts with destination flexibility, growing demand for spot cargoes and growing instances of waterborne diseases will provide ample opportunities for the growth of the market.
Unconventional gas refers to natural gas trapped in coal beds, shale blocks, and tight sands. For the extraction of unconventional gas, different techniques are applied based on the field and type of gas to be extracted. One of the common method is hydraulic fracturing, where a hole is drilled into the rock and large amounts of water are injected at high pressure along with sand and other chemicals to create cracks in the rock. The cracks, when opened, will free the trapped gas, allowing it to flow to the wellhead.
By Applications, transportation segment is likely to grow with highest CAGR during the forecast period as gaseous petrol is widely used as an energy fuel in transportation. It is also used in all types of vehicles like autos, vans, light and rock-solid trucks, lift trucks, trains and domestic purpose like private and business. By geography, Asia Pacific is expected to observe significant growth in the forecast period, mainly due increase in GDP and discretionary income of consumers which has been expanding at a fast pace in this region.
Some of the key players in this market include BP plc., ExxonMobil Corporation, National Oilwell Varco, TechnipFMC plc., Total S.A., Chevron Corporation, Weatherford International Plc., Schlumberger Limited, Royal Dutch Shell plc., Halliburton, Emerson Automation Solutions and Baker Hughes, a GE company (BHGE).
• Tight Gas
• Shale Gas
• Coalbed Methane (CBM)
• Other Types
• Fuel Industry
• Power Generation
• Other Applications
• North America
o Rest of Europe
• Asia Pacific
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o South Africa
o Rest of Middle East & Africa
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