Unconventional Gas Market by Type, End-users, and Geography - Forecast and Analysis 2020-2024
Global Unconventional Gas Market: About this market
Technavio’s unconventional gas market analysis considers sales from shale gas, tight gas, and coalbed methane types. Our study also finds the sales of unconventional gas in APAC, EMEA, and the Americas. In 2019, the shale gas segment had a significant market share, and this trend is expected to continue over the forecast period. Factors such as rising demand for natural gas and increasing investments in E&P activities of shale gas will play a significant role in the shale gas segment to maintain its market position. Also, our global unconventional gas market report looks at factors such as rising investments in exploration and production activities of unconventional gas, the abundance of unconventional gas resources, and the growing demand for natural gas. However, environmental concerns associated with unconventional gas extraction process, fluctuations in crude oil and gas prices, and growing adoption of renewable energy may hamper the growth of the unconventional gas industry over the forecast period.
Global Unconventional Gas Market: Overview
Abundance of unconventional gas resources
Unconventional energy sources have received substantial impetus in the past decade, mainly due to the continuously depleting conventional resources including natural gas and crude oil. Also, unconventional resources are abundant across many economies including the US, Canada, China, and Argentina. Furthermore, these economies are offering subsidies for the domestic production of unconventional gases. Thus, the abundance of unconventional gas resources will lead to the expansion of the global unconventional gas market at a CAGR of almost 7% during the forecast period.
Technology development in the hydraulic fracturing process
Technological developments in the hydraulic fracturing process are supporting the exploration and production of oil and gas from shale plays. Hydraulic fracturing has been incorporating sensors and software for monitoring the water quality and the condition of equipment for improving the efficiency of the hydraulic fracturing process. Also, the integration of the Internet of Things (IoT) for data acquisition, as well as the use of data analytics and machine learning is further expected to support the efficiency of the tools used in the hydraulic fracturing process. This development is expected to have a positive impact on the overall market growth.
For the detailed list of factors that will drive the global unconventional gas market during the forecast period 2020-2024, click here.
With the presence of several major players, the global unconventional gas market is highly fragmented. Technavio’s robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading unconventional gas manufacturers, that include BP Plc, Chevron Corp., ConocoPhillips Co., Exxon Mobil Corp., PetroChina Co. Ltd., PJSC Gazprom, Royal Dutch Shell Plc, Santos Ltd., Saudi Arabian Oil Co., and YPF SA.
Also, the unconventional gas market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage on all forthcoming growth opportunities.
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