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 |
Need a report that reflects how COVID-19 has impacted this market and its growth?
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.
