Gas Hydrates Industry Outlook 2025-2029: Market Set to Cross $2.97 Billion Milestone

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How Large Will the Gas Hydrates Market Size By 2025?
In the previous years, the gas hydrates market has witnessed robust growth and it is projected to expand from $2.17 billion in 2024 to $2.32 billion in 2025, demonstrating a compound annual growth rate (CAGR) of 6.8%. The growth during the historic period can be linked to numerous factors including the growing number of industrial uses of natural gas, the exploitation of gas hydrate resources, a rise in public awareness and support for more environmentally friendly energy resources, increasing educational programs and professional training in the gas hydrate sector, as well as strategic collaborations between private companies and governments.

How Big Is the Gas Hydrates Market Size Expected to Grow by 2029?
The market for gas hydrates is poised for significant expansion in the coming years, with its value predicted to reach $2.98 billion by 2029, reflecting a compound annual growth rate (CAGR) of 6.5%. This increase over the forecast period can be attributed to several factors such as strict regulations and efforts to lessen greenhouse gas emissions, increased worldwide energy consumption, a growing favor among consumers for cleaner energy sources, improvements in the materials and equipment supply chain, and both government and private sector incentives for energy technology innovation. Foreseen trends during the forecast period involve improvement in the technologies used for extraction and processing, continued research into the properties of gas hydrates and techniques for their extraction, infrastructure development for production, storage, and transportation of gas hydrates, convergence of gas hydrate technologies with other energy systems, and progress in seismic imaging and other exploration methodologies.

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Which Key Market Drivers Powering Gas Hydrates Market Expansion and Growth?
The gas hydrates market growth is anticipated to be driven by the surging demand for clean and renewable energy. This increasing demand is underscored by escalating worries about climate change, environmental sustainability, and the imperative to decrease dependence on fossil fuels. Gas hydrates are currently being examined as a possible energy resource for the future, boasting a substantial methane reservoir that could provide a cleaner substitute for traditional fossil fuels when efficiently extracted and used. For instance, a report from the International Energy Agency, an organization based in France, predicted in July 2024 that the global electricity supply's renewable portion will increase from 30% in 2023 to 35% in 2025. Thus, the escalating demand for clean and renewable energy is fueling the expansion of the gas hydrate market.

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Which Fast-Growing Trends Are Poised to Disrupt the Gas Hydrates Market?
Major firms in the gas hydrates market are prioritizing the creation of innovative products such as methane hydrate harvesting technology to secure a competitive advantage. Methane hydrate harvesting technology involves the processes and systems to extract methane gas contained in methane hydrates - crystalline formations where methane molecules are trapped in water ice. For example, MODEC Inc., a Japan-based firm offering solutions for the floating offshore oil and gas market, began onshore testing for the development of shallow methane hydrate harvesting technology at the Okhotsk Regional Innovation Research Park in Kitami City, Hokkaido, Japan in October 2022. The primary goal of these onshore tests is to assess drilling performance using a mock seabed environment composed of polypropylene balls that simulate granular methane hydrate and fluidized treated soil, formulated to mimic soft mud conditions found several tens of meters beneath the seabed. MODEC uses an extensive vertical drilling technique with large-diameter disk-shaped drill bits to boost drilling capacity and enable the extraction of shallow methane hydrate.

What Are the Emerging Segments in 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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Who Are the Global Leaders in the Gas Hydrates Market?
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

Which are the Top Profitable Regional Markets for the Gas Hydrates Industry?
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.

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