HOME >> INDUSTRY NEWS >> Industry News

Global Unconventional Gas Market Will Expand Quickly to Surpass USD 126.93 Billion in 2019

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.

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.

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.

 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.

(sys-con.com  Edited by Topco)