A new Transparency
Market Research report states that the unconventional gas market
stood at $93.9 bn in 2012 and is predicted to reach $126.9 bn by
2019. It is predicted to expand at a CAGR of 4.70% from 2013 to 2019.
The title of the report is “Unconventional Gas Market - Global
Industry Analysis, Size, Share, Growth, Trends and Forecast, 2013 –
2019”.
As per the report,
the market for unconventional gas is fuelled by the rising focus on
reducing dependence on conventional sources of gas. In addition, the
supportive regulations to raise the unconventional gases’
production have also created a positive impact on the market.
Furthermore, the increasing foreign investments by Asian companies is
also boosting the market for unconventional gas. The presence of a
large number of reserves globally is a prime opportunity in the
market for unconventional gas. On the other hand, the increasing
contamination and utilization of water in the process of production
and the soaring cost of production in comparison to the production
done using conventional gas are amongst the chief factors that may
restrain the growth of the market in the coming years.
On the basis of type
of unconventional gas, the market is segmented into tight gas, shale
gas, and coal bed methane (CBM). Amongst these, the tight gas segment
emerged as the largest segment and constituted a share of over 44% in
the market in 2012. On the other hand, the segment of shale gas is
the most swiftly growing segment and is predicted to expand at a 7.0%
CAGR between 2013 and 2019. This segment is predicted to represent a
share of 47% in the market by 2019. This is owing the technological
advancement along with the presence of a number of shale gas reserves
that are technically recoverable. On the other hand, the segment of
CBM will also grow exponentially and is predicted to exceed a
production of 4,256.8 bn cubic feet by the end of 2019.
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On the basis of
application, the market is segmented into power generation,
industrial, residential, commercial, and transportation. Amongst
these, shale gas is industrially utilized extensively within Canada
and accounted for approximately 318 bn cubic feet by 2012. On the
other hand, residential applications are predicted to constitute a
share of more than 18% in the market by 2019. The transportation
segment is anticipated to be the most swiftly developing segment and
is predicted to expand at a 5.80% CAGR between 2013 and 2019.
Geographically, the
market is segmented into North America, Europe, Asia Pacific, and
Rest of the World (RoW). Amongst these, within North America, the
U.S. is the largest unconventional gas producer owing to
technological development and the presence of huge reserves. On the
other hand, Asia Pacific is predicted to be the most rapidly growing
shale gas market and is expected to rise at a whopping CAGR of 69.60%
between 2015 and 2019. In Europe, the unconventional gas production
was more than 750 bn cubic feet in 2012 but is anticipated to expand
at a slow rate in the forthcoming years.
As stated in the
report, the key players dominant in the market are Arrow Energy,
Anadarko, BG Group, BHP Billiton, BP, Devon Energy, Chesapeake
Energy, ExxonMobil, Total, and Shell, among others.
The market is
segmented as below:
Key Product
Segments of Unconventional Gas Market
- Shale Gas
- Tight Gas
- Coal Bed Methane
Key Application
Segments of Unconventional Gas Market
- Industrial
- Residential
- Power Generation
- Transportation
- Commercial
Major geographies
analyzed under this research report are:
- Europe
- North America
- Asia-Pacific
- Rest of the World
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