According to the latest report by IMARC Group, titled “Unconventional Gas Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028." the global unconventional gas market size reached US$ 190.3 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 292.0 Billion by 2028, exhibiting a growth rate (CAGR) of 7.2% during 2023-2028.
Unconventional gas refers to natural gas resources that are trapped in unconventional reservoirs and require specialized extraction techniques for commercial production. Unlike conventional natural gas, which can be easily extracted from permeable reservoirs, unconventional gas is found in shale formations, coal beds, and tight sands. The extraction of unconventional gas involves utilizing technologies such as hydraulic fracturing (fracking) and horizontal drilling to release the gas trapped within these reservoirs. Unconventional gas resources include shale gas, tight gas, and coalbed methane. These sources of natural gas have become increasingly important in meeting global energy demands, as they provide access to vast reserves that were previously inaccessible. Unconventional gas plays a significant role in diversifying energy portfolios, reducing reliance on traditional fossil fuels, and supporting the transition towards cleaner energy sources.
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Unconventional Gas Market Trends:
The increasing global energy demand, coupled with the depletion of conventional natural gas reserves, has stimulated the exploration and production of unconventional gas resources. This represents one of the key factors driving the market growth. Unconventional gas plays a crucial role in meeting the growing energy needs of various sectors, including power generation, industrial applications, and residential consumption. Moreover, the abundance of unconventional gas reserves in regions, such as North America, China, Argentina, and Australia has spurred significant investment in these areas. Furthermore, advancements in extraction technologies, particularly hydraulic fracturing, have revolutionized the unconventional gas industry, making the extraction process more efficient and economically viable. These technological advancements have unlocked vast reserves of unconventional gas, contributing to market expansion. Additionally, the transition toward cleaner energy sources and the need to reduce greenhouse gas emissions have led to a greater focus on natural gas as a relatively cleaner alternative to coal and oil. Furthermore, supportive government policies and regulations aimed at promoting the development of unconventional gas resources are also driving the market growth.
Unconventional Gas Market 2023-2028 Competitive Analysis and Segmentation:
Competitive Landscape With Key Players:
The competitive landscape of the global unconventional gas market has been studied in the report with the detailed profiles of the key players operating in the market.
Some of these key players include:
- Chevron Corporation
- Emerson Electric Co.
- Equinor ASA
- ExxonMobil Corporation
- Oil and Natural Gas Corporation Limited
- Schlumberger Limited
- Shell plcKey
Key Market Segmentation:
The report has segmented the unconventional gas market on the basis of type and application
Type Insights
- Shale Gas
- Tight Gas
- Coal Bed Methane (CBM)
- Others
Application Insights
- Industrial
- Power Generation
- Residential
- Commercial
- Transportation
Regional Insights:
- Asia Pacific
- North America
- Europe
- Middle East and Africa
- Latin America
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Key Highlights of the Report:
- Market Performance (2017-2022)
- Market Outlook (2023-2028)
- Market Trends
- Market Drivers and Success Factors
- Impact of COVID-19
- Value Chain Analysis
- Comprehensive mapping of the competitive landscape
If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
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