Global Gas Hydrates Share, Size ,Growth, Global Future Prospects, Key Findings, Industry Demand, Regional Analysis, Key Players Profiles and Forecasts to 2027
Overview:
Gas
hydrates, also referred to as methane hydrates, are cage-structured lattices of
water molecules which contains methane as the primary constituent. They are
crystalline, naturally occurring, ice-like substances which occur beneath the
sea bed and continental margins. They are a rich source of natural gas; and is
produced at high pressure and low temperature at a depth of few hundred meters
below sea level.
Based
on type, the global gas hydrates market has been segmented into onshore gas
hydrates and offshore/ marine gas hydrates. The onshore gas hydrates segment
account for the largest market share in 2017 owing to large reserves of gas
hydrates in cold surfaces, less time consumption, and developed technologies.
The offshore gas hydrates segment is expected to register the highest CAGR
during the forecast period owing to high profitability and high methane
content.
By
origin, the global gas hydrates market has been categorized into seabed,
permafrost, and others. The permafrost segment is expected to dominate the
global market during the review period owing to relatively easy drilling
operations and less technical complexities. The seabed segment is likely to be
the fastest-growing market in the coming years owing to large reserves and
growing R&D facilities for gas hydrates extraction.
On
the basis of method of extraction, the global gas hydrates market has been
segmented into water circulation, depressurization, carbon dioxide injection,
and inhibitor injection process. The depressurization method held the largest
market share in 2017 owing to relatively low cost and efficient extraction of
methane from gas hydrates. Moreover, the combined method of water circulation
and depressurization method is proven to be more effective. The carbon dioxide
injection segment is anticipated to register for the highest CAGR during the
review period owing to the mechanical stability, easy heat transfer, and
eco-friendly nature.
By
application, the global gas hydrates market has been classified into
transportation fuel, commercial, industrial, and others. The transportation fuel
segment is expected to account for the largest market share and grows at a high
CAGR during the review period due to growing demand for greener fuel (methane),
and depleting fossil fuels.
Competitive Analysis
Japan
Drilling Co., Ltd (Japan), Japan Petroleum Exploration Co., Ltd. (Japan),
Chevron Corporation (US), Schlumberger Limited (US), ConocoPhillips Company
(US); Japan Oil, Gas and Metals National Corporation (Japan), and China
Petrochemical Corporation (China), Oil and Natural Gas Corporation Ltd.
(India), PetroChina Company Limited (China), Royal Dutch Shell plc (The
Netherlands), Total (France), and Fugro (The Netherlands) are some of the
players operating in the global gas hydrates market.
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Regional Analysis
The
global gas hydrates market has been analyzed across five key regions, namely,
Asia-Pacific, North America, Latin America, Europe, and the Middle East &
Africa.
The
Asia-Pacific market dominated the global market and is likely to register the
highest CAGR in the coming years owing to growing government spending, rising
demand from transportation industry, and growing R&D facilities. Japan is
projected to account for the largest market share as it imports almost all its
oil and gas fuels, large reserves of gas hydrates, and is equipped with
advanced technical expertise with extraction. China, India, Malaysia, Taiwan,
and South Korea are other regional contributors.
Market Segmentation
The
global gas hydrates market has been segmented on the basis of type, origin,
method of extraction, application, and region.
By
type, the global gas hydrates market has been bifurcated into onshore gas
hydrates and offshore/ marine gas hydrates.
On
the basis of origin, the global gas hydrates market has been categorized into
seabed, permafrost, and others.
By
method of extraction, the global gas hydrates market has been divided into
water circulation, depressurization, carbon dioxide injection, and inhibitor
injection process.
Based
on application, the global gas hydrates market has been classified into
transportation fuel, commercial, industrial, and others.
The
global gas hydrates market has been studied across five major regions, namely–
Asia-Pacific, North America, Europe, Latin America, and the Middle East &
Africa.
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