ALBANY, New York, October 16, 2014 /PRNewswire/ --
Transparency Market Research's new market report based on "Unconventional Gas (Shale Gas, Tight Gas and Coal Bed Methane) Market for Industrial, Power Generation, Residential, Commercial and Transportation Applications - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2013 - 2019," states that the global unconventional gas market was valued at USD 93.95 billion in 2012 and is expected to reach USD 126.93 billion by 2019, growing at a CAGR of 4.7% from 2013 to 2019. Speaking in terms of volume, the global production was 23.48 trillion cubic feet (tcf) in 2012 and is expected to reach 34.12 TCF by 2019, growing at a CAGR of 5.8% from 2013 to 2019.
Unconventional gas market has triggered a paradigm shift on every continent. This market has the potential to reshape the global gas sector all over the world. Today, unconventional gas is abundantly available everywhere and with production rising at an average annual rate of almost 3% this market has the potential to contribute significantly to all the replacement of gas resources.
Browse the full Unconventional Gas Market report: http://www.transparencymarketresearch.com/unconventional-gas.html
The use of unconventional gases is seen in many industrial areas, as well as domestic applications. They are widely used in power generation and industrial applications. The power generation is growing due to rising energy demand across many sectors. This market is expected to grow at a CAGR of 7.1% in the forecast period 2013 to 2019. On the other hand, the industrial application market sector is accounted for nearly 30% of the total unconventional gas generated in 2012. The transportation industry is predicted to generate revenue worth USD 4.85 billion by 2019, while, the production of unconventional gases for residential application was almost 4800 bcf in 2012. The year 2012 presented a very clear picture of many top manufacturers of shale gas with no clear leader.
One of the main reasons that have led to increasing preference towards unconventional gases is depleting conventional gas reserves coupled with fluctuating natural gas prices. However, another added reason to the increasing popularity of the unconventional gas market is the abundant availability of technically recoverable unconventional gas reserves. These gas reserves are considerably backed by the technological advancements in the U.S.
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Of all the sectors inclusive in the unconventional gas market, tight gas is the largest produced unconventional gas in this market. It accounted for over 44% of the total market in 2012. On the other hand, shale gas is another fastest growing gas type whose success is seen in many leading countries such as China, Canada, and particularly in the U.S. Shale gas is estimated to grow at a CAGR of 7% from 2013 to 2019. Another most upcoming sector is the CBM market whose production is expected to reach 4,256.8 bcf by 2019. There is a global CBM market growth seen in the U.S. and Canada where the market is expected to grow at a sluggish rate due to nearing saturation. Nevertheless, the CBM production in Asia Pacific, particularly in Indonesia and Australia is expected to drive the overall market. Owing to huge CBM deposits in Australia, this region is expected to become one of the major CBM producers in the next six years.
The U.S. market is emerged as the leading producer of unconventional gas accounting for more than 70% of the total production in 2012. This region is followed by the Asia-Pacific market with an estimated CAGR of 20.8% in the forecast 2013 and 2019.
Press Release of Unconventional Gas Market: http://www.transparencymarketresearch.com/pressrelease/unconventional-gas.htm
Several market players such as Chesapeake Energy, Exxon Mobil, and Devon Energy have emerged as top three manufacturers of shale gas in 2012, whereas, Arrow Energy, BG Group, and Dart Energy were top three CBM manufacturers in the global market. They accounted for over 60% of the total CBM production in 2012. Some of the other key industry participants in the unconventional gas market include, Anadarko, AGL Energy, BHP Billiton, BG Group, BP, Chevron, EXCO Resources, Great Eastern Energy, Origin Energy, PetroChina, Shell and Total.
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