- The key vendors in the Global Unconventional Gas Market 2015-2019 are Arrow Energy Pty Ltd., BG Group plc, British Petroleum plc (BP), Chesapeake Energy Corp. and Chevron Corp.
London, 31 March 2015: TechNavio, an independent tech-focused global research firm, has announced the publication of its market research report on the Global Unconventional Gas Market 2015-2019. Higher investments in unconventional gas sources are one of the key trends upcoming in the market. Many market vendors and governments are investing in unconventional gas sources to increase production as the global demand is increasing day by day. It is expected that with the rising investments, technology will improve, thereby reducing the risk and cost associated with the extraction of unconventional gas. The overall market is expected to grow at a CAGR of 5.4 percent during the forecast period of 2014-2019.
The growth of the market depends on cost-effective operations and advances in technology that excavates unconventional gas sources. While China and the US are using modern technologies to extract huge amounts of unconventional gas such as shale and tight gas, governments worldwide are investing heavily in R&D to develop technology that boosts production of gas from coal beds, shale blocks, and tight sands.
“In recent years, the depletion of conventional energy sources in the face of higher natural gas demand has become a global concern. Governments are sharpening a focus on unconventional gas sources to address the huge demand-supply imbalance,” says Faisal Ghaus, Vice President of Technavio Research.
“Policies to encourage the development of unconventional gas sources include tax credits as envisioned under the Windfall Profits Tax Act of 1980. Such initiatives are designed to reduce risks, attract new sources of capital, and boost returns for unconventional gas projects.”
To define the market conditions in the next 3-4 years, TechNavio analysts have conducted in-depth analysis of the impact of market drivers, challenges and trends featuring data on product segmentations, vendor shares, growth rate by revenue and an evaluation of the different buying criteria in the order of importance.
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