Market Overview:
The global gas hydrates market is
examined in detail in the latest research report from Market Research Future
(MRFR). The global gas hydrates market is examined to understand the market’s
tendencies with regard to dips and rises, and growth trajectory. The likely
growth trajectory of the gas hydrates market over the forecast period from 2018
to 2023 is charted out in the report with the help of a detailed analysis of
the major drivers and restraints affecting the market. The historical growth
trajectory of the global gas hydrates market is studied in detail in the report
to provide a solid platform for projections about the future growth trajectory
of the market.
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Gas hydrates are structures
within the seabed, where methane and other gases get trapped in ice sheets,
creating solid ice blocks that contain significant volumes of natural gas. The
increasing demand for alternative fossil fuel extraction methods in the last
few years is likely to be a major driver for the global gas hydrates market
over the forecast period. Gas hydrates are likely to remain an important part
of the global energy sector in the coming years due to the increasing demand
for energy. Gas hydrates mostly contain methane, which is a highly valuable
fossil fuel due to its clean burning, which makes it the least environmentally
damaging fossil fuel of them all. Increasing development in the field of
alternative fossil fuel extraction methods and the acceptance of various new
ideas in the field is likely to result in significant commercial development of
infrastructure to viably produce natural gas from gas hydrates.
On the other hand, lack of
awareness and the relative ease of acquiring fossil fuels through shale gas and
fracking are the major restraints against the gas hydrates market. The gas
hydrates market is at the cutting edge of the evolution of the gas and energy
sector, being one of the most recently developed extraction technologies. This
makes it a risky investment in the short term, though long-term prospects for
the market are decidedly better, especially in East Asian countries, where the
technology of gas hydrate extraction has developed rapidly over the last few
years.
Competitive Analysis:
·
Fugro
·
Total
·
Royal Dutch Shell plc
·
PetroChina Company Limited
·
Oil and Natural Gas Corporation Ltd.
·
China Petrochemical Corporation
·
Japan Oil, Gas, and Metals National Corporation
·
ConocoPhillips Company
·
Schlumberger Limited
·
Chevron Corporation
·
Japan Petroleum Exploration Co. Ltd.,
·
Japan Drilling Co. Ltd.
Japanese companies are at the
forefront of technological development in the gas hydrates market and are
likely to play an important role in the development of the market in the coming
years. In September 2019, Kitami Institute of Technology, Mitsui E&S
Shipbuilding, and Mitsui E&S Holdings started the development of ice blocks
for testing and development of drills and equipment to be used on real gas
hydrate reserves. The ice blocks will simulate the real seabed conditions
experienced in gas hydrate reserves, thus allowing these companies to develop
effective tools and technologies to counter realistic operational challenges
likely to be encountered in the extraction of methane gas from gas hydrates.
Market Segmentation:
The Global
Gas Hydrates Market has been segmented on the basis of 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.
By Origin, the global gas
hydrates market has been segmented into seabed, permafrost, and others.
Based on 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 as transportation fuel,
commercial, industrial, and others.
Regional Analysis:
Asia Pacific holds a dominant
position in the global gas hydrate market and is likely to retain the position
over the forecast period due to the steady dominance of Japanese and Chinese
companies in the global market. India, South Korea, and Malaysia are also
expected to emerge as key contributors to the global gas hydrate market over
the forecast period.
Get Complete Research Report on “Gas
Hydrates Market Research Report – Global Forecast till 2023” at: https://www.marketresearchfuture.com/reports/gas-hydrates-market-7347
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