Global Unconventional Gas Market 2020-2024 | Technology Development in Hydraulic Fracturing Process to Boost the Market Growth | Technavio
LONDON--(BUSINESS WIRE)--Nov 26, 2019--
The global unconventional gas market is expected to grow by USD 41.76 billion during 2020-2024, according to the latest market research report by Technavio. Request a free sample report
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20191126005380/en/
Technavio has announced its latest market research report titled global unconventional gas market 2020-2024 (Graphic: Business Wire)
Unconventional energy sources have received substantial impetus in the past decade, mainly due to the continuously depleting conventional resources including natural gas and crude oil. Also, unconventional resources are abundant across many economies including the US, Canada, China, and Argentina. Furthermore, these economies are offering subsidies for the domestic production of unconventional gases. Thus, the abundance of unconventional gas resources is likely to remain intact even with increased production, in turn, boosting the unconventional gas production output at a substantial rate during the forecast period.
To learn more about the global trends impacting the future of market research, download a free sample:https://www.technavio.com/talk-to-us?report=IRTNTR40159
As per Technavio, technology development in the hydraulic fracturing process will have a positive impact on market growth over the forecast period. This research report also analyzes other significant trends and market drivers that will influence market growth over 2020-2024.
Unconventional Gas Market: Technology Development in Hydraulic Fracturing Process
Technological developments in the hydraulic fracturing process are supporting the exploration and production of oil and gas from shale plays. Hydraulic fracturing has been incorporating sensors and software for monitoring the water quality and the condition of equipment for improving the efficiency of the hydraulic fracturing process. Also, the integration of the Internet of Things (IoT) for data acquisition, as well as the use of data analytics and machine learning is further expected to support the efficiency of the tools used in the hydraulic fracturing process. Thus, technological improvements are leading to an increase in the recovery output of gas from unconventional reserves, in turn, contributing to the growth of the global unconventional gas market during the forecast period.
“Innovation at frac sites to reduce wastage, commoditization of LNG, growing demand for natural gas, and rising investments in E&P activities of unconventional gas are other factors expected to boost the unconventional gas market growth during the forecast period, ” says a senior analyst at Technavio.
Register for a free trial today and gain instant access to 17,000+ market research reports.
Unconventional Gas Market: Segmentation Analysis
This market research report segments the unconventional gas market by type (shale gas, tight gas, and coalbed methane) and end-users (power generation, residential and commercial, industrial, and others) and geography (APAC, EMEA, and the Americas).
America led the market in 2019, followed by APAC and EMEA, respectively, due to the increased unconventional gas production output in the US, Canada, and Argentina. High exploration and production activities in unconventional sources of natural gas such as shale gas in the region are responsible for increase in the overall production of natural gas in the Americas. Furthermore, supporting initiatives from the governments in economies including Argentina for oil and gas production are expected to boost the unconventional gas market growth in Americas during the forecast period.
Technavio’s sample reports are free of charge and contain multiple sections of the report, such as the market size and forecast, drivers, challenges, trends, and more. Request a free sample report
Some of the key topics covered in the report include:
Five Forces Analysis
Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.
With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
If you are interested in more information, please contact our media team at email@example.com.
View source version on businesswire.com:https://www.businesswire.com/news/home/20191126005380/en/
CONTACT: Technavio Research
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
INDUSTRY KEYWORD: PROFESSIONAL SERVICES CONSULTING
SOURCE: Technavio Research
Copyright Business Wire 2019.
PUB: 11/26/2019 01:30 PM/DISC: 11/26/2019 01:30 PM