With the rapid growth in industrialization across the globe, there is a rise in demand for fuels as energy sources in the unconventional gas market. In the recent past, there is a significant increase in the usage of natural gas in transportation and domestic including both residential and commercial sectors. Moreover, the growing concerns about the environment regarding the per capita carbon emission has also led to the increase in demand for natural gas in the market. In addition to, the abundance of unconventional gas in different parts of the world especially in the North America region has also played a major role in the increasing global consumption. Several major oil and gas companies are investing on the research and developments for exploring different sources of unconventional gas around the world. However, the adverse health effects such as respiratory problems and effects on brain and nervous system caused during the extraction of unconventional gas might act as a factor for the market.
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The North America region holds a significant fraction of the global unconventional gas market. This is because of the high reserves of unconventional gas in places like Canada. The Middle Eastern countries including Saudi Arabia, Qatar, Iran and others Are investing for rapid development of conventional gas market.
Top key players in the market report are Schlumberger Limited, Royal Dutch Shell plc., Chevron Corporation, ExxonMobil Corporation, Total S.A., Halliburton Inc., Weatherford International Plc., National Oilwell Varco, BP Plc., Emerson Automation Solutions, and TechnipFMC Plc.
COVID-19 scenario analysis:
- The global market for unconventional gas is severely impacted by the outbreak of the COVID-19 pandemic.
- The COVID-19 pandemic saw a decline in the economic growth in almost all the major countries, thus affecting consumer spending patterns.
- Owing to the lockdown implemented across various countries, national and international transport have been hampered, which has significantly impacted the supply chain of numerous industries across the globe, thereby increasing the supply–demand gap.
- Thus, insufficiency in raw material supply is expected to hamper market growth.
- However, this situation is expected to improve as government has started relaxing norms around the world for resuming business activities.
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Key benefits of the report:
- This study presents the analytical depiction of the global unconventional gas industry along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the global unconventional gas market share.
- The current market is quantitatively analyzed from 2022 to 2029 to highlight the global unconventional gas market growth scenario.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
- The report provides a detailed global unconventional gas market analysis depending on competitive intensity and how the competition will take shape in coming years.
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