Global Gas Hydrates Market – Industry Trends and Forecast to 2030

Gas Hydrates Market Analysis and Size  

Various developed and developing nations are investing in advanced research programs and technologies for manufacturing gas hydrates. A rise in demand for gas hydrates across oil and gas, and automotive has been witnessed in the past few years.

Data Bridge Market Research analyses that the global gas hydrates market was valued at USD 432.65 million and is expected to reach the value of USD 771.62 million by 2030, at a CAGR of 8.30% during the forecast period of 2023 to 2030. “Transportation Fuel” dominates the application segment of the global gas hydrates market part owing to increasing demand for clean and renewable energy sources. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include in-depth expert analysis, geographically represented company-wise production and capacity, network layouts of distributors and partners, detailed and updated price trend analysis and deficit analysis of supply chain and demand.

Gas Hydrates Market Scope and Segmentation

Market Definition

Gas hydrates, also known as fire ice, refer to crystalline solid ice-like form of water consisting of gas molecules. These are held under high pressure and low temperature. In the world’s continental margins, large quantities of gas hydrates. The hydrates are obtained in the seafloor sediments down to a depth of 200 m-400 m.

Global Gas Hydrates Market Dynamics

Drivers

• Exploration and Extraction

The increase in the investments on exploration and extraction across the globe acts as one of the major factors driving the growth of gas hydrates market. Also, decline in fossil fuels and various initiatives taken by various government for exploration of gas hydrates have a positive impact on the market growth

• Increase in Gas Extraction

The increase in the number of gas extraction activities in some regions accelerate the market growth. The rise in the population increasing the need for energy drives the growth of the market

• Commercialization of Methane

The increase in the commercialization of methane hydrate rising the extraction activities further influence the market. Various countries including China and Japan have already succeeded in extracting methane hydrate after conducting two tests

In addition, the surge in investments, expansion of oil and gas sector, and urbanization in the developing economies positively affect the gas hydrates market

Opportunity

• Technological Advancements

Furthermore, technological development in the oil and gas mining vessels extend profitable opportunities to the market players 2023 to 2030. Also, surge in investments will further expand the market

Restraint/Challenge

• Risk Associated with the Extraction Activities

On the other hand, high risk associated with the extraction activities is expected to obstruct the market. Also, concerns regarding climate warming are projected to challenge the gas hydrates market in the forecast period.

Recent Developments

• In July 2021, Baltimore Aircoil Company Inc. acquired Eurocoil Spa (Italy), a prominent refrigeration manufacturer and European commercial. This attainment has further reinforced its position in the global cooling market
• In December 2020, Hamon acquired ESINDUS (Spain) involved in the cooling business in the Iberian Peninsula, Mexico, and South America. Hamon & Cie goals to strengthen its geographic presence in Asia, EMEA, and North America through this acquisition

Global Gas Hydrates Market Scope

The gas hydrates market is segmented on the basis of type, origin and application. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Type

• Onshore Gas Hydrates
• Offshore/ Marine Gas Hydrates

Origin

• Seabed
• Permafrost

Application

• Transportation Fuel
• Commercial
• Industrial

Global Gas Hydrates Market Regional Analysis/Insights

The gas hydrates market is analyzed and market size insights and trends are provided by type, origin and application as referenced above.

The countries covered in the gas hydrates market report are U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, France, Italy, U.K., Belgium, Spain, Russia, Turkey, Netherlands, Switzerland, Poland, Norway, Finland, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, U.A.E., Saudi Arabia, Egypt, South Africa, Israel, Nigeria, Algeria, Angola, Ghana, Rest of Middle East and Africa

Asia-Pacific dominates the gas hydrates market in terms of market share and revenue and will continue to flourish its dominance during the forecast period. This is because of the rise in the rate of production capacity and advent of industrialization within the region.

North America is expected to be the fastest developing region during the forecast period of 2023 to 2030 due to the expansion of oil and gas sector in the region.

The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as down-stream and up-stream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.   

Competitive Landscape and Global Gas Hydrates Market Share Analysis

The global gas hydrates market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the company’s focus related to global gas hydrates market.

Some of the major players operating in the gas hydrates market are:

• Japan Drilling Co., Ltd. (Japan)
• Chevron Corporation. (U.S.)
• Schlumberger Limited. (U.S.)
• ConocoPhillips Company. (U.S.)
• Japan Oil, Gas and Metals National Corporation (Japan)
• China Petrochemical Corporation. (China)
• Oil and Natural Gas Corporation Ltd. (India)
• PetroChina Company Limited (China)
• Shell (U.K.)
• TotalEnergies (France)
• Fugro (Netherlands)
• Minerals Management Service (U.S.)
• United States Department of Energy (U.S.)
• United States Geological Survey (U.S.)
• Schlumberger Limited. (U.S.)
• BP p.l.c. (U.K.)
• ConocoPhillips Company. (U.S.)
• Equinor ASA (Norway)

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