The global gas hydrates market size would be valued at US$ 2,571.2 million in 2023. It would register substantial growth at a CAGR of 5.4% from 2023 to 2033. It would reach a market valuation of US$ 4,350.5 million by the end of 2033.
Future Market Insights (FMI) estimates the global gas hydrates market revenue to top US$ 2,455.1 million in 2022. A primary element driving gas hydrates sales include significant growth in end-use applications.
Targeting new and emerging applications having immense potential for gas hydrates consumption. High investment returns is a key strategy adopted by manufacturers in the market.
Gas hydrates are considered as a potential material for carbon capture and storage. They have unique properties, including high storage capacity and stability under appropriate conditions.
In carbon capture and storage, carbon dioxide is captured from large sources. These include power plants and industrial facilities.
It is then stored in geological formations such as deep saline aquifers or depleted oil and gas reservoirs. Formation of carbon dioxide-hydrate is one of the methods that would be explored for storage.
Carbon dioxide molecules are trapped within a cage-like structure made of water molecules. It forms a solid substance called a hydrate. This storage method has several advantages.
It has high storage density. Hydrates can store large amounts of carbon dioxide in a small volume. It makes them a highly efficient storage material.
Gas hydrates are stable and safe when stored in suitable geological formations. These include deep-sea sediments and permanent storage.
Once formed, gas hydrates would remain stable for hundreds to thousands of years. It would provide long-term storage of carbon dioxide.
The carbon dioxide-hydrate formation and storage technology is still in the development stage. It requires further research and testing before it can be implemented on a large scale.
Gas hydrates hold promise as a potential material for carbon capture and storage. But, much work is still needed to fully realize their potential in this application.
Attributes | Key Insights |
---|---|
Gas Hydrates Market Estimated Size (2023E) | US$ 2,571.2 million |
Projected Market Valuation (2033F) | US$ 4,350.5 million |
Value-based CAGR (2023 to 2033) | 5.4% |
Collective Value Share: Top 5 Countries (2023E) | 63.2% |
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Over the last five years, significant progress has been made in development of new technologies. They will be used for the extraction of gas hydrates. A few latest methods are thermal stimulation and depressurization methods.
These advancements have improved efficiency and viability of hydrate extraction. It would make it a more attractive option for energy production. Increasing demand for clean energy sources would result in high interest in gas hydrates.
These would act as a potential source of natural gas. Owing to these factors, the gas hydrates industry has seen positive traction in the last five years.
It is anticipated that the market will flourish in the next ten years. Key players are investing substantial capital to improve their gas hydrates extraction methods. They are aiming to meet the growing needs of end consumers.
The market will be driven by rising demand for fuel. It needs to be supplied for use in the transportation and automotive sectors. Gas hydrates can be a potential source of enormous energy.
Gas hydrates are a viable alternative for the storage of bulk gas. They can be used later owing to their quality as a sustainable resource. The gas hydrates market would expand at a CAGR of 5.4% during the forecast period.
High Demand for Clean and Renewable Energy to Boost Gas Hydrates in Pipelines
Market Statistics | Details |
---|---|
January to June (H1), 2021 (A) | 4.7% |
July to December (H2), 2021 (A) | 4.9% |
January to June (H1), 2022 Projected (P) | 5.1% |
January to June (H1), 2022 Outlook (O) | 5.0% |
July to December (H2), 2022 Outlook (O) | 5.4% |
July to December (H2), 2022 Projected (P) | 5.3% |
January to June (H1), 2023 Projected (P) | 5.4% |
BPS Change : H1,2022 (O) to H1, 2022 (P) | ; (-) 20 ↓ |
BPS Change : H1,2022 (O) to H1, 2021 (A) | (-) 10 ↓ |
BPS Change: H2, 2022 (O) to H2, 2022 (P) | (+) 10 ↑ |
BPS Change: H2, 2022 (O) to H2, 2021 (A) | (+) 20 ↑ |
Country | USA |
---|---|
Market Share (2023) | 35.9% |
Market Share (2033) | 36.6% |
BPS Analysis | +170 |
Country | Russia |
---|---|
Market Share (2023) | 17.8% |
Market Share (2033) | 18.1% |
BPS Analysis | +30 |
Country | China |
---|---|
Market Share (2023) | 3.6% |
Market Share (2033) | 3.7% |
BPS Analysis | +10 |
Country | Mexico |
---|---|
Market Share (2023) | 2.5% |
Market Share (2033) | 2.6% |
BPS Analysis | +10 |
Country | Canada |
---|---|
Market Share (2023) | 3.6% |
Market Share (2033) | 3.7% |
BPS Analysis | +10 |
The USA Government to Support Gas Hydrate Exploration Activities by 2033
The USA would play a significant role in gas hydrates industry growth. The country has vast natural gas reserves. Exploitation of gas hydrates is seen as a promising way to tap into these resources.
The USA gas industry has invested heavily in infrastructure. It has put money into pipelines and processing facilities.
These are critical to development of the gas hydrates industry. These infrastructure development plans would make it easy and efficient to transport & process gas hydrates.
The USA government has been supportive of development of the gas hydrates industry. It provides funding for research and development. It is also offering tax incentives to companies that are investing in the area.
Companies in North America and other international organizations are forming strategic partnerships. These would help to accelerate growth in the gas hydrates industry.
These partnerships have allowed for the sharing of expertise, technology, and resources. The USA has abundant natural gas resources. Key companies are investing in infrastructure development with the help of government agencies.
Russia to Supplement Production of Gas Hydrates Energy Sources by 2033
Russia has been exploring and producing natural gas hydrates in the Arctic and other regions. These include the Black Sea and the Caspian Sea.
In 2020, Gazprom, one of the leading gas companies in Russia, discovered a large deposit of gas hydrates in the Arctic. Russia has invested in research and development of gas hydrates. It is focusing on developing new technologies for production and utilization.
The country has several institutions. These include the Institute of Petroleum Geology and Geophysics. These are dedicated to studying gas hydrates.
They are also developing new technologies for their extraction and utilization. Russia has collaborated with international partners to advance the gas hydrates industry.
For example, Gazprom has signed several agreements with international companies. It wants to jointly explore and produce gas hydrates.
Russia's strong focus on exploration and production of gas hydrates would spur the market. Investments in research and development would also help to advance the industry in Russia.
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High Demand for Clean Energy to Push Sales of Natural Gas Hydrates
Gas hydrates are found in large quantities in various parts of the world. They are particularly found in offshore permafrost areas and beneath the ocean floor.
This provides a significant source of energy that can be tapped into in the forecast period. Energy demand would surge as the world's population continues to expand and industrialize. Gas hydrates offer a potential source of natural gas that can help meet this growing demand.
Advancements in technology have improved ability to extract natural gas from gas hydrates. It would make it more economically viable.
Countries would soon move away from carbon-intensive energy sources. Hence, natural gas from gas hydrates is seen as a clean alternative.
It produces lower greenhouse gas emissions compared to coal and oil. The benefit makes it an attractive option for countries looking to reduce their carbon footprint.
Hence, the energy sector will need to continue to invest in research and development. They would bring advancements in technology to make gas hydrates a viable energy source.
Gas Hydrate Formation at Offshore/Marine Locations to Bode Well for the Market
Offshore gas hydrate deposits would be a significant contributor to the global demand for natural gas. These deposits are formed when methane molecules are trapped within ice-like structures. These structures are called hydrates that are found on the seafloor.
Abundance of these hydrates in deep-water environments has led to increased exploration and extraction efforts. Offshore gas hydrates have the potential to significantly increase global natural gas supply. They can also help meet increasing energy demand.
They can serve as a valuable alternative energy source to conventional fossil fuels. But, extraction of gas hydrates is a complex and challenging process. It requires advanced technology and expertise.
Several countries such as Japan, India, and China are actively pursuing research and development in offshore gas hydrate extraction. Offshore gas hydrate deposits hold great promise. They can act as a significant contributor to the global gas hydrate demand.
They also have the potential to help meet growing energy demand of the world. Commercial production of offshore gas hydrates is still in its infancy. More research and development activities are needed to fully understand their potential.
The gas hydrates market is a rapidly evolving field. Several trends have emerged in recent years. Exploration and production of gas hydrates is a key trend in the industry.
Companies are increasingly investing in research and development activities. They aim to extract gas hydrates from deposits found on the ocean floor. Development of new technologies such as hydraulic fracturing and horizontal drilling can be seen in the market.
These technologies have made it possible to extract gas hydrates efficiently. The gas hydrate industry would expand in the next ten years.
It is attributed to increased demand for alternative energy sources. Technological advancements and collaborations & partnerships would also boost sales.
Attribute | Details |
---|---|
Estimated Market Size (2023) | US$ 2,571.2 million |
Projected Market Valuation (2033) | US$ 4,350.5 million |
Value-based CAGR (2023 to 2033) | 5.4% |
Historical Data | 2018 to 2022 |
Forecast Period | 2023 to 2033 |
Quantitative Units | Value (US$ million) and Volume (million meter cube) |
Segments Covered |
|
Regions Covered |
|
Key Countries Covered |
|
Key Companies Profiled |
|
Report Coverage | Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends, and Pricing Analysis |
The global gas hydrates industry was valued at US$ 2,455.1 million in 2022.
Between 2023 and 2033, the global market for gas hydrates would expand at a CAGR of 5.4%.
The global gas hydrates industry would reach US$ 4,350.5 million by the end of 2033.
Gas hydrates are most widely used in the energy sector and the segment would account for a prominent market share.
Flourishing demand for gas hydrates from the energy sector would propel the global market.
Sinopec, TotalEnergies SE, Shell Plc., PetroChina Company Limited, Oil and Natural Gas Corporation, and Gail Limited are a few key gas hydrates manufacturers.
The market is valued at US$ 2,571.2 million in 2023.
TotalEnergies, SE Sinopec, and Shell Plc. are the leading market players.
By 2033, the market is estimated to reach US$ 4,350.5 million.
The market’s CAGR from 2023 to 2033 is estimated to be 5.4% through 2033.
The market reached US$ 2,455.1 million in 2022.
1. Executive Summary | Gas Hydrates Market
1.1. Global Market Outlook
1.2. Demand Side Trends
1.3. Supply Side Trends
1.4. Technology Roadmap
1.5. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
3. Key Market Trends
3.1. Key Trends Impacting the Market
3.2. Product Innovation / Development Trends
4. Key Success Factors
4.1. Product Adoption / Usage Analysis
4.2. Product USPs / Features
4.3. Strategic Promotional Strategies
5. Global Market Demand Analysis 2018 to 2022 and Forecast, 2023 to 2033
5.1. Historical Market Volume (million Meter Cube) Analysis, 2018 to 2022
5.2. Current and Future Market Volume (million Meter Cube) Projections, 2023 to 2033
5.3. Y-o-Y Growth Trend Analysis
6. Global Market - Pricing Analysis
6.1. Regional Pricing Analysis By Grade
6.2. Pricing Break-up
6.3. Global Average Pricing Analysis Benchmark
7. Global Market Demand (in Value or Size in US$ million) Analysis 2018 to 2022 and Forecast, 2023 to 2033
7.1. Historical Market Value (US$ million) Analysis, 2018 to 2022
7.2. Current and Future Market Value (US$ million) Projections, 2023 to 2033
7.2.1. Y-o-Y Growth Trend Analysis
7.2.2. Absolute $ Opportunity Analysis
8. Market Background
8.1. Macro-Economic Factors
8.1.1. Crude oil Vs Consumption Overview
8.1.2. Top Natural Gas Key Players by Production
8.1.3. Global Crude Oil Production
8.1.4. Global Oil & Gas Consumption Forecast Outlook
8.1.5. Oil Production Overview by Key Countries
8.1.6. Number of Oil Rigs by Region
8.2. Forecast Factors - Relevance & Impact
8.2.1. Top Companies Historical Growth
8.2.2. GDP Growth forecast
8.2.3. Global Urbanization Growth Outlook
8.2.4. Pricing Impact
8.2.5. Other Forecast Factors
8.3. Value Chain Analysis
8.3.1. Product Manufacturers
8.3.2. List of Distributors
8.3.3. List of Probable end-users
8.3.4. Avg. Profitability Margins
8.4. COVID-19 Crisis – Impact Assessment
8.4.1. Current Statistics
8.4.2. Short-Mid-Long Term Outlook
8.4.3. Likely Rebound
8.5. Market Dynamics
8.5.1. Drivers
8.5.2. Restraints
8.5.3. Opportunity Analysis
8.6. Global Supply Demand Analysis
8.7. Production Process Overview
8.8. Patent Analysis
8.9. Regulations & Certifications
9. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Grade
9.1. Introduction / Key Findings
9.2. Historical Market Size (US$ million) and Volume Analysis By Grade, 2018 to 2022
9.3. Current and Future Market Size (US$ million) and Volume Analysis and Forecast By Grade, 2023 to 2033
9.3.1. Onshore
9.3.2. Offshore/Marine
9.4. Market Attractiveness Analysis By Grade
10. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Application
10.1. Introduction / Key Findings
10.2. Historical Market Size (US$ million) and Volume Analysis By Application, 2018 to 2022
10.3. Current and Future Market Size (US$ million) and Volume Analysis and Forecast By Application, 2023 to 2033
10.3.1. Residential
10.3.2. Commercial
10.3.3. Industrial
10.3.4. Vehicle Fuel
10.3.5. Energy
10.4. Market Attractiveness Analysis By Application
11. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, by Region
11.1. Introduction
11.2. Historical Market Size (US$ million) and Volume Analysis By Region, 2018 to 2022
11.3. Current Market Size (US$ million) and Volume Analysis and Forecast By Region, 2023 to 2033
11.3.1. North America
11.3.2. Latin America
11.3.3. Europe
11.3.4. East Asia
11.3.5. South Asia and Pacific
11.3.6. Middle East and Africa
11.4. Market Attractiveness Analysis By Region
12. North America Market Analysis 2018 to 2022 and Forecast 2023 to 2033
12.1. Introduction
12.2. Pricing Analysis
12.3. Historical Market Size (US$ million) and Volume Trend Analysis By Market Taxonomy, 2018 to 2022
12.4. Market Size (US$ million) and Volume Forecast By Market Taxonomy, 2023 to 2033
12.4.1. By Country
12.4.1.1. The USA
12.4.1.2. Canada
12.4.2. By Grade
12.4.3. By Application
12.5. Market Attractiveness Analysis
12.5.1. By Country
12.5.2. By Grade
12.5.3. By Application
12.6. Market Trends
12.7. Key Market Participants - Intensity Mapping
12.8. Drivers and Restraints - Impact Analysis
13. Latin America Market Analysis 2018 to 2022 and Forecast 2023 to 2033
13.1. Introduction
13.2. Pricing Analysis
13.3. Historical Market Size (US$ million) and Volume Trend Analysis By Market Taxonomy, 2018 to 2022
13.4. Market Size (US$ million) and Volume Forecast By Market Taxonomy, 2023 to 2033
13.4.1. By Country
13.4.1.1. Brazil
13.4.1.2. Mexico
13.4.1.3. Rest of Latin America
13.4.2. By Grade
13.4.3. By Application
13.5. Market Attractiveness Analysis
13.5.1. By Country
13.5.2. By Grade
13.5.3. By Application
13.6. Market Trends
13.7. Key Market Participants - Intensity Mapping
13.8. Drivers and Restraints - Impact Analysis
14. Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033
14.1. Introduction
14.2. Pricing Analysis
14.3. Historical Market Size (US$ million) and Volume Trend Analysis By Market Taxonomy, 2018 to 2022
14.4. Market Size (US$ million) and Volume Forecast By Market Taxonomy, 2023 to 2033
14.4.1. By Country
14.4.1.1. Germany
14.4.1.2. Italy
14.4.1.3. France
14.4.1.4. The United Kingdom
14.4.1.5. Spain
14.4.1.6. BENELUX
14.4.1.7. Russia
14.4.1.8. Rest of Europe
14.4.2. By Grade
14.4.3. By Application
14.5. Market Attractiveness Analysis
14.5.1. By Country
14.5.2. By Grade
14.5.3. By Application
14.6. Market Trends
14.7. Key Market Participants - Intensity Mapping
14.8. Drivers and Restraints - Impact Analysis
15. South Asia and Pacific Market Analysis 2018 to 2022 and Forecast 2023 to 2033
15.1. Introduction
15.2. Pricing Analysis
15.3. Historical Market Size (US$ million) and Volume Trend Analysis By Market Taxonomy, 2018 to 2022
15.4. Market Size (US$ million) and Volume Forecast By Market Taxonomy, 2023 to 2033
15.4.1. By Country
15.4.1.1. India
15.4.1.2. Association of Southeast Asian Nations
15.4.1.3. Oceania
15.4.1.4. Rest of South Asia & Pacific
15.4.2. By Grade
15.4.3. By Application
15.5. Market Attractiveness Analysis
15.5.1. By Country
15.5.2. By Grade
15.5.3. By Application
15.6. Market Trends
15.7. Key Market Participants - Intensity Mapping
15.8. Drivers and Restraints - Impact Analysis
16. East Asia Market Analysis 2018 to 2022 and Forecast 2023 to 2033
16.1. Introduction
16.2. Pricing Analysis
16.3. Historical Market Size (US$ million) and Volume Trend Analysis By Market Taxonomy, 2018 to 2022
16.4. Market Size (US$ million) and Volume Forecast By Market Taxonomy, 2023 to 2033
16.4.1. By Country
16.4.1.1. China
16.4.1.2. Japan
16.4.1.3. South Korea
16.4.2. By Grade
16.4.3. By Application
16.5. Market Attractiveness Analysis
16.5.1. By Country
16.5.2. By Grade
16.5.3. By Application
16.6. Market Trends
16.7. Key Market Participants - Intensity Mapping
16.8. Drivers and Restraints - Impact Analysis
17. Middle East and Africa Market Analysis 2018 to 2022 and Forecast 2023 to 2033
17.1. Introduction
17.2. Pricing Analysis
17.3. Historical Market Size (US$ million) and Volume Trend Analysis By Market Taxonomy, 2018 to 2022
17.4. Market Size (US$ million) and Volume Forecast By Market Taxonomy, 2023 to 2033
17.4.1. By Country
17.4.1.1. Gulf Cooperation Council Countries
17.4.1.2. Türkiye
17.4.1.3. Northern Africa
17.4.1.4. South Africa
17.4.1.5. Rest of Middle East and Africa
17.4.2. By Grade
17.4.3. By Application
17.5. Market Attractiveness Analysis
17.5.1. By Country
17.5.2. By Grade
17.5.3. By Application
17.6. Market Trends
17.7. Key Market Participants - Intensity Mapping
17.8. Drivers and Restraints - Impact Analysis
18. Emerging Countries Market Analysis
18.1. Introduction
18.1.1. Market Value Proportion Analysis, By Key Countries
18.1.2. Global Vs. Country Growth Comparison
18.2. USA Market Analysis
18.2.1. By Grade
18.2.2. By Application
18.3. Canada Market Analysis
18.3.1. By Grade
18.3.2. By Application
18.4. Mexico Market Analysis
18.4.1. By Grade
18.4.2. By Application
18.5. Brazil Market Analysis
18.5.1. By Grade
18.5.2. By Application
18.6. Germany Market Analysis
18.6.1. By Grade
18.6.2. By Application
18.7. Italy Market Analysis
18.7.1. By Grade
18.7.2. By Application
18.8. France Market Analysis
18.8.1. By Grade
18.8.2. By Application
18.9. The United Kingdom Market Analysis
18.9.1. By Grade
18.9.2. By Application
18.10. Spain Market Analysis
18.10.1. By Grade
18.10.2. By Application
18.11. Russia Market Analysis
18.11.1. By Grade
18.11.2. By Application
18.12. China Market Analysis
18.12.1. By Grade
18.12.2. By Application
18.13. Japan Market Analysis
18.13.1. By Grade
18.13.2. By Application
18.14. South Korea Market Analysis
18.14.1. By Grade
18.14.2. By Application
18.15. India Market Analysis
18.15.1. By Grade
18.15.2. By Application
18.16. Association of Southeast Asian Nations Market Analysis
18.16.1. By Grade
18.16.2. By Application
18.17. Australia and New Zealand Market Analysis
18.17.1. By Grade
18.17.2. By Application
18.18. Türkiye Market Analysis
18.18.1. By Grade
18.18.2. By Application
18.19. South Africa Market Analysis
18.19.1. By Grade
18.19.2. By Application
19. Market Structure Analysis
19.1. Market Analysis by Tier of Companies
19.2. Market Concentration
19.3. Market Share Analysis of Top Players
19.4. Apparent Production Capacity of Key Players
19.5. Market Presence Analysis
19.5.1. By End-Use Footprint
19.5.2. By Regional Footprint
19.5.3. By Channel Footprint
20. Competition Analysis
20.1. Competition Dashboard
20.2. Competition Benchmarking
20.3. Competition Deep Dive
20.3.1. Sinopec
20.3.1.1. Overview
20.3.1.2. Product Portfolio
20.3.1.3. Profitability by Market Segments (Product/Channel/Region)
20.3.1.4. Sales Footprint
20.3.1.5. Strategy Overview
20.3.2. TotalEnergies SE
20.3.2.1. Overview
20.3.2.2. Product Portfolio
20.3.2.3. Profitability by Market Segments (Product/Channel/Region)
20.3.2.4. Sales Footprint
20.3.2.5. Strategy Overview
20.3.3. Shell Plc.
20.3.3.1. Overview
20.3.3.2. Product Portfolio
20.3.3.3. Profitability by Market Segments (Product/Channel/Region)
20.3.3.4. Sales Footprint
20.3.3.5. Strategy Overview
20.3.4. PetroChina Company Limited
20.3.4.1. Overview
20.3.4.2. Product Portfolio
20.3.4.3. Profitability by Market Segments (Product/Channel/Region)
20.3.4.4. Sales Footprint
20.3.4.5. Strategy Overview
20.3.5. Japan Petroleum Exploration Company Limited
20.3.5.1. Overview
20.3.5.2. Product Portfolio
20.3.5.3. Profitability by Market Segments (Product/Channel/Region)
20.3.5.4. Sales Footprint
20.3.5.5. Strategy Overview
20.3.6. Oil and Natural Gas Corporation
20.3.6.1. Overview
20.3.6.2. Product Portfolio
20.3.6.3. Profitability by Market Segments (Product/Channel/Region)
20.3.6.4. Sales Footprint
20.3.6.5. Strategy Overview
20.3.7. Gail Limited
20.3.7.1. Overview
20.3.7.2. Product Portfolio
20.3.7.3. Profitability by Market Segments (Product/Channel/Region)
20.3.7.4. Sales Footprint
20.3.7.5. Strategy Overview
20.3.8. Chevron Corporation
20.3.8.1. Overview
20.3.8.2. Product Portfolio
20.3.8.3. Profitability by Market Segments (Product/Channel/Region)
20.3.8.4. Sales Footprint
20.3.8.5. Strategy Overview
20.3.9. Woodside Inc.
20.3.9.1. Overview
20.3.9.2. Product Portfolio
20.3.9.3. Profitability by Market Segments (Product/Channel/Region)
20.3.9.4. Sales Footprint
20.3.9.5. Strategy Overview
20.3.10. Japan Drilling Co., Ltd.
20.3.10.1. Overview
20.3.10.2. Product Portfolio
20.3.10.3. Profitability by Market Segments (Product/Channel/Region)
20.3.10.4. Sales Footprint
20.3.10.5. Strategy Overview
20.3.11. Schlumberger Limited
20.3.11.1. Overview
20.3.11.2. Product Portfolio
20.3.11.3. Profitability by Market Segments (Product/Channel/Region)
20.3.11.4. Sales Footprint
20.3.11.5. Strategy Overview
20.3.12. PJSC Gazprom
20.3.12.1. Overview
20.3.12.2. Product Portfolio
20.3.12.3. Profitability by Market Segments (Product/Channel/Region)
20.3.12.4. Sales Footprint
20.3.12.5. Strategy Overview
21. Assumptions and Acronyms Used
22. Research Methodology
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