The global gas hydrates market is examined in detail in the latest research report from Market Research Future (MRFR). The global gas hydrates market is examined to understand the market’s tendencies with regard to dips and rises, and growth trajectory. The likely growth trajectory of the gas hydrates market over the forecast period from 2018 to 2023 is charted out in the report with the help of a detailed analysis of the major drivers and restraints affecting the market. The historical growth trajectory of the global gas hydrates market is studied in detail in the report to provide a solid platform for projections about the future growth trajectory of the market.
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Gas hydrates are structures within the seabed, where methane and other gases get trapped in ice sheets, creating solid ice blocks that contain significant volumes of natural gas. The increasing demand for alternative fossil fuel extraction methods in the last few years is likely to be a major driver for the global gas hydrates market over the forecast period. Gas hydrates are likely to remain an important part of the global energy sector in the coming years due to the increasing demand for energy. Gas hydrates mostly contain methane, which is a highly valuable fossil fuel due to its clean burning, which makes it the least environmentally damaging fossil fuel of them all. Increasing development in the field of alternative fossil fuel extraction methods and the acceptance of various new ideas in the field is likely to result in significant commercial development of infrastructure to viably produce natural gas from gas hydrates.
On the other hand, lack of awareness and the relative ease of acquiring fossil fuels through shale gas and fracking are the major restraints against the gas hydrates market. The gas hydrates market is at the cutting edge of the evolution of the gas and energy sector, being one of the most recently developed extraction technologies. This makes it a risky investment in the short term, though long-term prospects for the market are decidedly better, especially in East Asian countries, where the technology of gas hydrate extraction has developed rapidly over the last few years.
Royal Dutch Shell plc
PetroChina Company Limited
Oil and Natural Gas Corporation Ltd.
China Petrochemical Corporation
Japan Oil, Gas, and Metals National Corporation
Japan Petroleum Exploration Co. Ltd.,
Japan Drilling Co. Ltd.
Japanese companies are at the forefront of technological development in the gas hydrates market and are likely to play an important role in the development of the market in the coming years. In September 2019, Kitami Institute of Technology, Mitsui E&S Shipbuilding, and Mitsui E&S Holdings started the development of ice blocks for testing and development of drills and equipment to be used on real gas hydrate reserves. The ice blocks will simulate the real seabed conditions experienced in gas hydrate reserves, thus allowing these companies to develop effective tools and technologies to counter realistic operational challenges likely to be encountered in the extraction of methane gas from gas hydrates.
The Global Gas Hydrates Market has been segmented on the basis of type, origin, method of extraction, application, and region.
Based on Type, the global gas hydrates market has been bifurcated into onshore gas hydrates and offshore/marine gas hydrates.
By Origin, the global gas hydrates market has been segmented into seabed, permafrost, and others.
Based on method of extraction, the global gas hydrates market has been divided into water circulation, depressurization, carbon dioxide injection, and inhibitor injection process.
Based on Application, the global gas hydrates market has been classified as transportation fuel, commercial, industrial, and others.
Asia Pacific holds a dominant position in the global gas hydrate market and is likely to retain the position over the forecast period due to the steady dominance of Japanese and Chinese companies in the global market. India, South Korea, and Malaysia are also expected to emerge as key contributors to the global gas hydrate market over the forecast period.
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