Market Size of Unconventional Gas Industry
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 2.00 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Unconventional Gas Market Analysis
The unconventional gas market is expected to register a CAGR of over 2% during the forecast period. According to the US geological survey, about 280 trillion cubic feet of gas and 20 billion barrels of natural gas liquid are trap in low permeability rock. The overall worldwide production of shale gas was about 535.915 bcm, in 2018. The United States produces more than 98% of these shale gas, and it helps the United States in reaching first place in the world ranking of gas producers due to the increasing production of unconventional gas. Shale gas in the United States now accounts for around 70% of the country's gas production and 11% surge in the United States gas production accounting for 45% of the global increase, pushed by the unconventional gas field.
- The increasing demand for natural gas in various industries supported a growing awareness that it emits less carbon content compared to coal; therefore, it could be used as a clean energy source for many countries that are presently dependent on coal. The significantly proved abundance of unconventional gas resources across the world and the competitive price of unconventional gas are vital factors, which is the possible opportunity for rising of the unconventional gas market.
- Global gas consumption is estimated to have grown by 3.7% year-over-year, in 2018, more than double the 1.5 average growth rate from 2010 to 2018, and this growth may extend furthermore in the coming future.
- The North American natural gas market holds the most significant production by volume, and it is expected to be the largest market in the global unconventional gas markets during the forecast period.
Unconventional Gas Industry Segmentation
The unconventional gas market report includes:
| Type | |
| Shale gas | |
| Tight gas | |
| Coal Bed Methane (CBM) | |
| Others (Gas Hydrate, Synthetic Natural Gas, Etc.) |
| Geography | |
| North America | |
| Asia-Pacific | |
| Europe | |
| South America | |
| Middle-East and Africa |
Unconventional Gas Market Size Summary
The unconventional gas market is poised for steady growth, driven by the increasing demand for natural gas as a cleaner energy alternative to coal. This shift is supported by the significant abundance of unconventional gas resources globally and their competitive pricing, which presents a substantial opportunity for market expansion. The United States leads the world in unconventional gas production, particularly shale gas, which constitutes a major portion of its gas output. This dominance has positioned the U.S. at the forefront of global gas production, with North America expected to maintain its status as the largest market for unconventional gas during the forecast period. The market's growth is further bolstered by the declining production from conventional sources, prompting a shift towards unconventional gas exploration and production in various regions, including Argentina, Australia, Poland, and China.
Despite fluctuations in natural gas prices, the anticipated rise in demand is expected to drive investment in unconventional gas exploration and production. The market is characterized by its fragmented nature, with numerous companies such as Royal Dutch Shell, Exxon Mobil, Chevron, and PetroChina actively participating. As conventional gas reserves decline, countries like Canada are also turning to unconventional sources to sustain their gas production levels. However, the rapid development of unconventional gas poses concerns for oil-dependent economies like Saudi Arabia and Iran, highlighting the geopolitical implications of this market's growth. Overall, the unconventional gas market is set to experience continued expansion, supported by technological advancements and strategic investments in infrastructure and exploration.
Unconventional Gas Market Size - Table of Contents
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1. MARKET OVERVIEW
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1.1 Introduction
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1.2 Unconventional Gas Production and Forecast, in billion cubic meter (BCM), until 2025
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1.3 Recent Trends and Developments
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1.4 Government Policies and Regulations
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1.5 Market Dynamics
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1.5.1 Drivers
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1.5.2 Restraints
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1.6 Supply Chain Analysis
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1.7 Porter's Five Forces Analysis
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1.7.1 Bargaining Power of Suppliers
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1.7.2 Bargaining Power of Consumers
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1.7.3 Threat of New Entrants
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1.7.4 Threat of Substitutes Products and Services
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1.7.5 Intensity of Competitive Rivalry
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2. MARKET SEGMENTATION
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2.1 Type
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2.1.1 Shale gas
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2.1.2 Tight gas
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2.1.3 Coal Bed Methane (CBM)
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2.1.4 Others (Gas Hydrate, Synthetic Natural Gas, Etc.)
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2.2 Geography
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2.2.1 North America
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2.2.2 Asia-Pacific
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2.2.3 Europe
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2.2.4 South America
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2.2.5 Middle-East and Africa
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Unconventional Gas Market Size FAQs
What is the current Unconventional Gas Market size?
The Unconventional Gas Market is projected to register a CAGR of greater than 2% during the forecast period (2024-2029)
Who are the key players in Unconventional Gas Market?
Royal Dutch Shell plc, ExxonMobil Corporation, Chevron Corporation and ConocoPhillips are the major companies operating in the Unconventional Gas Market.
