Technological improvements in the extraction methods like drilling and hydraulic fracturing and benefits of natural gas over other fuels for power generation are some of the important reasons driving the growth of this market. Natural gas obtained from coal, gas shale, and gas hydrates are generally referred to as unconventional natural gases. There has been rapid growth in the exploration and production of unconventional natural gas due to the growing need for power generation. Widespread availability of unconventional natural gas resources is also adding to their increasing use in the number of applications, thus leading to market growth.
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Increasing energy prices along with increasing global energy demands and improvements in exploration and extraction technologies are some of the major reasons creating interest in the unconventional gas industry. Unconventional gas industry is expected to witness a strong growth rate over the forecast period as a number of countries are deploying their indigenous resources for the development of new supplies of gas resources and ensuring energy security. Though the unconventional natural gas industry is facing challenges like environmental concerns, most economies are investing in this industry for meeting their increasing energy demands, thus providing substantial opportunities for potential investors.
· Horizontal Drilling
· Fracturing Techniques
This research report analyzes this market based on its market segments and major geographies. The report includes comprehensive analysis of industry growth drivers, factors affecting market growth, industry structure, current market trends, and market projections for the coming years. The report also provides an analysis of the recent developments in technology, Porter’s five force model analysis, and complete company profiles of the top market players. It includes a review of the micro and macro factors significant with respect to the existing market players and new entrants along with detailed value chain analysis.
Major geographies analyzed under this research report are:
· North America
· Rest of the World
Some of the key players dominating this market are Baker Hughes, Bow Energy Ltd., British Gas, Chesapeake Energy, Chevron Corporation, China National Offshore Oil Corporation (CNOOC), ConocoPhillips Company, Devon Energy Corporation, ExxonMobil Corporation, General Electric Company (GE), Halliburton, Hindustan Petroleum Corporation Ltd. (HPCL), Oil & Natural Gas Corporation (ONGC), Reliance Industries (RIL), Siemens, and others.
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