Mar 08, 2019 (Heraldkeeper via COMTEX) -- Gas Hydrates Market Overview to 2023:
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.
Various countries like the US, Canada, Japan, India, and China are adopting advanced research programs and technologies for manufacturing methane hydrates. Escalating demand of oil and gas across the world and growing automotive industry is expected to drive the market growth. Increasing investments on exploration and extraction is further augmented to favor the market growth in the coming years. Depleting fossil fuels and various initiatives taken by U.S. Department of Energy and International Energy Agency for exploration of gas hydrates is further anticipated to positively influence the market growth during the review period. Moreover, methane is the most prominent constituent of gas hydrates which is considered as the cleanest burning fossil fuel is further expected to provide lucrative opportunities to the oil and gas companies. The major challenge for the market players is accessing the gas hydrates from the seabed. In addition to this, alternative conventional fuels such as shale gas which is relatively cheap and easily accessible is likely to challenge the market players. Technical challenges to extract methane from the solid hydrates without methane leakage in the nearby surrounding further hinders the market growth. Nevertheless, various research projects launched by major oil and gas players to discover methods for safe and efficient extraction of gas hydrates is likely to offer lucrative opportunities to the market players.
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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.
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.
u Japan Drilling Co., Ltd
u Japan Petroleum Exploration Co., Ltd
u Chevron Corporation
u Schlumberger Limited
u ConocoPhillips Company
u Japan Oil
u Gas and Metals National Corporation
u China Petrochemical Corporation
u Oil and Natural Gas Corporation Ltd.
u PetroChina Company Limited
u Royal Dutch Shell plc
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