Unconventional Gas Market Study 2018
The global gas sector still holds huge volumes of gas in the ground. Unconventional gas is abundantly available on every continent. The rise of unconventional gas production, especially the shale gas production has been a revolutionary change in the U.S. energy sector. It has the potential to transform the country’s requirement for global LNG trade.
Browse: Unconventional Gas Market
The presence of unconventional gas all over the world has the potential to reshape the global gas sector, as well as trigger a paradigm shift in the North American gas market. When resources are compared to the volumes of conventional gas, unconventional resources turn out to be valuable assets in formulating a lasting response to global rising demand.
Global Market Scenario
According to some of the best market research reports, the unconventional gas (Shale Gas, Tight Gas and Coal Bed Methane) market for industrial, power generation, residential, commercial and transportation applications for the forecast 2013 – 2019 was valued at USD 93.95 billion in 2012 and is expected to reach USD 126.93 billion by 2019, growing at a CAGR of 4.7% from 2013 to 2019. Considering in terms of volume, the global production was 23.48 trillion cubic feet (tcf) in 2012 and is expected to reach 34.12 tcf by 2019, growing at a CAGR of 5.8% from 2013 to 2019.
Unconventional gases are being used in power generation and industrial applications all around the world. The power generation is expected to be the fastest growing application due to increasing energy demand growing at a CAGR of 7.1% from 2013 to 2019. Likewise, the industrial application sector accounted for nearly 30% of the total unconventional gas produced in 2012. The production of unconventional gases for residential application was 4800 bcf in 2012 and that for the transportation industry is expected to generate revenue worth USD 4.85 billion by 2019.
Unconventional Gas Market – Regional Analysis
Of all the regions in the world, the U.S. market has emerged as the leading producer of unconventional gas. It has accounted for more than 70% of the total production in 2012. There are even large amount of shale gas reserves in the U.S. that are coupled with advanced production techniques. In addition, Asia-Pacific is expected to be the next fastest growing market segment which is expected to grow at an estimated CAGR of 20.8% between 2013 and 2019. China on the other hand, has abundant technical recoverable shale gas reserves, but currently does not hold any shale gas production. However, the growth is expected to commence by 2015.
Growth of Shale Gas, Tight Gas, and CBM Markets
Shales are fine-grained sedimentary rocks that are another rich form of petroleum and natural gas. The production from shale is growing intensely and has made a major impact on prices across the globe. Shale gas is expected to be the fastest growing gas type moving at an estimated CAGR of 7% from 2013 to 2019. It has a well-established success in the U.S. which has led it to expand and grow in other countries, particularly China to shift its focus towards developing shale gas.
Tight gas is another sector that was considered to be the largest produced unconventional gas in the market. It accounts for over 44% of the total market in 2012. Likewise, since the global CBM production in regions like Canada and the U.S. is approaching near saturation, this market is expected to grow at an extremely sluggish rate in the coming years. The global CBM production is expected to reach 4,256.8 bcf by 2019. Nevertheless, the CBM production in Asia Pacific, especially in Indonesia and Australia is expected to drive the overall market with immense growth. Owing to its huge CBM deposits in Australia, the unconventional gas market is expected to become one of the major CBM producers in the next six years.
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