Albany, NY, Jan. 27, 2015 (GLOBE NEWSWIRE) -- Depleting reserves for conventional gas generation and regulatory support cited as the biggest factors that promote growth in the unconventional gas market.
The unconventional gas sector had reached a market value of $93.95 billion in 2012. It is expected to reach $126.93 billion in 2019, after showing a CAGR of 4.7% between 2013 and 2019. By volume, the market created a global production of 23.48 trillion cubic feet in 2012. It is expected to reach 34.12 trillion cubic feet by 2019, with a CAGR of 5.8% from 2013 to 2019.
The research report titled "Unconventional Gas Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2013 - 2019", released by Transparency Market Research, has been the source of all facts and statistics described in this press release.
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Unconventional gas is the prime resource for power generation and industry applications. The power generation market is at a CAGR of 7.1% from 2013 to 2019. The research report states the growth of this sector is directly proportional to the growth of the unconventional gas market.
The report also says that the industrial applications sector accounted for almost 30% of the overall unconventional gas consumed in 2012. It shows a clear picture of all the top companies in the unconventional gas market, while stating that there is no clear industry leader.
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The transport industry is closely related to the unconventional gas market, with the industry predicted to generate $4.85 billion by 2019. The residential application of unconventional gases found an area of roughly 4,800 billion cubic feet.
The report also gives a detailed segmentation of the Unconventional Gas Market, with tight gas being the current largest sector at more than 44% of the market hold in 2012. Shale gas is said to own the quickest rate of growth, which is 7% from 2013 to 2019.
Browse Press Release of Unconventional Gas Market : http://www.transparencymarketresearch.com/pressrelease/unconventional-gas.htm
According to the report, the coal bed methane (CBM) segment of this market is expected to surpass a total production of 4,256.8 billion cubic feet by 2019. The CBM production is reported to have been present by majority in the U.S. and Canada. The Canadian market is soon to face complete saturation. The Asia Pacific region, especially Indonesia and Australia, are the countries that evolve the unconventional gas market, owing mostly to their large deposits of CBM.
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- Lubricants Market : http://www.transparencymarketresearch.com/lubricants-market.html
- Thermal Energy Storage Market : http://www.transparencymarketresearch.com/thermal-energy-storage-market.html
The report names the top three market players as Chesapeake Energy, Devon energy and Exxon Mobil, owing to their majority in generation of shale gas in 2012. The report also says that the top companies that manufactured gas from CBM in 2012 were Dart Energy, BG Group, and Arrow Energy.
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