Press release
Global Gas Hydrates Market Analysis 2025-2030: Growth Drivers, Challenges, And Opportunities
Gas Hydrates
How Big Is the Gas Hydrates Market Size Expected to Be by 2034?
The gas hydrates market size has grown strongly in recent years. It will grow from $2.17 billion in 2024 to $2.32 billion in 2025 at a compound annual growth rate (CAGR) of 6.8%. The growth in the historic period can be attributed to increasing industrial applications of natural gas, exploitation of gas hydrate resources, increased public awareness and support for cleaner energy sources, growing educational and training programs for professionals in the gas hydrate sector, and strategic partnerships between governments and private companies.
The gas hydrates market is expected to reach $2.98 billion by 2029, growing at a CAGR of 6.5%. Growth is driven by regulations to reduce greenhouse gas emissions, rising global energy consumption, cleaner energy sources, and innovation incentives. Trends include extraction technology improvements, research into gas hydrate properties, product
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What Are the Emerging Segments Within the Gas Hydrates Market?
The gas hydratesmarket covered in this report is segmented -
1) By Type: Onshore Gas Hydrates, Offshore Or Marine Gas Hydrates
2) By Technology: Gas Hydrate Formation And Dissociation, Production And Extraction, Storage And Transportation
3) By Origins: Permafrost, Seabed
4) By Application: Transportation Fuel, Commercial, Industrial, Other applications
Subsegments:
1) By Onshore Gas Hydrates: Permafrost Gas Hydrates, Associated Gas Hydrates, Gas Hydrates In Sedimentary Basins, Gas Hydrates In Shale Formations, Laboratory-Produced Onshore Gas Hydrates
2) By Offshore Or Marine Gas Hydrates: Gas Hydrates In Continental Margins, Gas Hydrates In Deepwater Environments, Gas Hydrates In Submarine Sediments, Gas Hydrates In Mid-Ocean Ridge Systems, Marine Gas Hydrates Associated With Hydrocarbon Reservoirs
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What Long-Term Drivers Are Shaping Gas Hydrates Market Trends?
Demand for clean and renewable energy is fueling growth in the gas hydrates market. As global focus shifts away from fossil fuels, gas hydrates are being explored as a cleaner energy source. In July 2024, the International Energy Agency projected renewable energy's share in global electricity would rise from 30% in 2023 to 35% by 2025, indicating favorable conditions for the gas hydrates market.
Who Are the Top Competitors in Key Gas Hydrates Market Segments?
Major companies operating in the gas hydrates market are China Petroleum and Chemical Corporation, PetroChina Company Limited, ExxonMobil Corporation, Royal Dutch Shell plc, BP PLC, Chevron Corporation, Eni S.p.A., PJSC Gazprom, Mitsui & Co. Ltd., Equinor ASA, Indian Oil Corporation Limited, ConocoPhillips Company, Oil and Natural Gas Corporation Ltd., Schlumberger Limited, Halliburton Company, Weatherford International, Marubeni Corporation, Fugro NV, Japan Drilling Co. Ltd., MODEC Inc., JFE Engineering Corporation
What Trends Are Expected to Dominate the Gas Hydrates Market in the Next 5 Years?
Companies in the gas hydrates market are advancing technology, such as methane hydrate harvesting systems, to gain a competitive advantage. These technologies extract methane gas trapped in water ice structures called methane hydrates. For instance, in October 2022, MODEC Inc. started onshore testing for shallow methane hydrate harvesting technology in Japan. The tests aim to assess drilling performance under simulated seabed conditions, improving the feasibility of extracting methane from hydrates.
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Which Regions Are Becoming Hubs for Gas Hydrates Market Innovation?
Asia-Pacific was the largest region in the gas hydrates market in 2024. The regions covered in the gas hydrates market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Gas Hydrates Market?
2. What is the CAGR expected in the Gas Hydrates Market?
3. What Are the Key Innovations Transforming the Gas Hydrates Industry?
4. Which Region Is Leading the Gas Hydrates Market?
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