Market Overview:
Gas
hydrates, also called as fire ice, are a crystalline solid ice-like form of
water that consists of gas molecules held under high pressure and low
temperature. Large quantities of gas hydrates are found in the world’s
continental margins. It is obtained in the seafloor sediments down to a depth
of 200 m-400 m beneath the seafloor. It is largely formed in the sedimentary
rocks beneath the Arctic permafrost, deep-water sediments of seas and inland
lakes, and beneath Antarctic ice. The gas primarily consists of methane in
large quantities and other gases such as H2S and CO2 in very less proportion.
Methane from gas hydrates is a future source natural gas.
Market Segmentation:
The global
gas hydrates market has been segmented based on type, origin, method of
extraction, application, and region.
Based on
type, the global gas hydrates market has been bifurcated into onshore gas
hydrates and offshore/ marine gas hydrates.
Based on
origin, the global gas hydrates market has been divided into seabed,
permafrost, and others.
Based on
method of extraction, the global gas hydrates market has been classified into
water circulation, depressurization, carbon dioxide injection, and inhibitor
injection process.
By
application, the global gas hydrates market has been categorized 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.
Global Key Players:
·
Japan Drilling
Co., Ltd
·
Japan Petroleum
Exploration Co., Ltd.
·
Chevron
Corporation
·
Schlumberger
Limited
·
ConocoPhillips
Company
·
Japan Oil, Gas and
Metals National Corporation
·
China
Petrochemical Corporation
·
Oil and Natural
Gas Corporation Ltd.
·
PetroChina Company
Limited
·
Royal Dutch Shell
plc
·
Total
·
Fugro
Regional Outlook:
Geographically,
the global gas hydrates market has been
segmented into five major regions, namely Asia-Pacific, North America, Latin America, Europe, and the Middle
East & Africa.
The Asia-Pacific market accounted for the largest
market share in 2017 and is projected to grow at a strong CAGR during the
forecast period owing to rising demand for natural gas as a greener fuel,
increasing government investments, and growing automotive and transportation
industry. Japan is the amjor contributor in the region followed by China owing
to high reliance on expensive imports of liquefied natural gas from Middle East
countries. It was the first country to get gas flowing successfully from gas hydrate
deposits under the Pacific Ocean. Test driilings have taken place in China and
Japan. On May 2018, China successfully extracted methane hydrate for the first
time in the Shenu area of the South China Sea. This extraction will make it the
first country in the world that can produce steady gas continuously. Other
countries contributing to the regional market growth are India, Taiwan,
Malaysia, and South Korea.
The North American market is expected to hold the
second-largest market with a significant CAGR during the forecast period. This
is attributed to the growing demand from the automotive and transportation
industry and availability of large gas hydrate reserves. The US is the leading
country in the region owing to superior extraction technology and growing
research projects by various associations such as US Department of Energy and
US Geological Survey.
The European market accounted for a significant market
share in 2017 and is expected to grow at a healthy CAGR during the assessment
period due to availability of large reserves of methane hydrates and growing
demand for methane in industrial applications. Germany is the leadiing country
in the region owing to advanced drilling operations and excellent technical
expertise. Russia, the Netherlands, and Switzerland are other countries
contributing to the regional market growth.
The Latin America and the Middle East & Africa
market is expected to register a moderate market share with a encouraging CAGR
in the following years owing to growing gas hydrates exploration. Mexico and
Saudi Arabia are the leading countries in the region owing to growing R&D
facilities and surging demand for greener fuel.
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