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Methane Hydrate Extraction Market: Opportunity Analysis and Industry Forecast, 2021–2025

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MA_195275
Pages: 102
May 2019 | 208 Views
 
Author(s) : Krunal Yeware and Abhijit Yenduri , Eswara Prasad
Tables: 37
Charts: 44
 

Methane Hydrate Extraction Market Outlook - 2025

The methane hydrate extraction market is projected to reach 66,901.8 thousand cubic meter by 2025, growing at a CAGR of 6.3% from 2021 to 2025.Methane hydrate is a solid compound wherein large amount of methane is trapped within a crystal structure of water. It is also referred as fiery ice, methane clathrate, natural gas hydrate, and gas hydrate. The methane hydrates are found inside the seabed; therefore, the activities associated with their extraction are risky. As per the United States Geological Survey (USGS), one cubic meter of gas hydrate can release 164 cubic meters of natural gas.

Methane Hydrate Market

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Globally, there is surplus availability of Methane hydrate on the frozen deposits of the sea floor. However, as such the availability of Methane hydrate is confirmed only in China, Japan, India, South Korea, the U.S., Canada, and Russia. However, this market is totally studied based on the extraction activities undertaken over a particular year.

The methane hydrate extraction market is at a nascent stage as their extraction process is not yet commercialized. Some of the factors expected to drive the growth of this market include greater availability, rise in investments for the process of extraction, and several government initiatives to accelerate the extraction process to meet the growth in demand for energy. Methane hydrate releases larger amount of natural gas, which is expected to be used as a future source of energy. Countries such as China and Japan have already successfully extracted methane hydrate after conducting two tests. They are planning to commercialize methane hydrate by 2020, which can further accelerate the extraction activities, which in turn can contribute to the demand. In addition, technological development in the oil & gas mining vessels is expected to smoothen the gas hydrate extraction process. This factor is further expected to have a positive impact on the growth of this market.

On the other hand, high risk associated with the extraction activities is expected to hamper the growth of the overall market. Efficient extraction of methane hydrate can lead to serious damage as methane escapes when extracted from high pressure seabed, which causes real life damage. One of the major disadvantages of inefficient hydrate mining can cause sediment to slide, which creates probabilities of dangerous tsunamis. These factors are expected to restrain the growth of the market during the forecast period. Nevertheless, rise in interest of several countries in methane hydrate extraction linked with increase in R&D, and investments will provide new growth opportunities to this market. Technological advancements are expected to strengthen extraction capabilities by offering growth opportunities during the forecast period.

Methane Hydrate Market by Country

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Based on the country, the methane hydrate extraction market is segmented into China, India, Japan, Russia, the U.S., and Canada. Apart from this, South Korea and other European countries are working continuously to confirm the availability of methane hydrates in their respective regions. China methane hydrate extraction market share dominated the overall market in 2017 with the largest extracted volume. China is the first country that successfully extracted methane hydrate in 2017. Two methane hydrate extraction tests and technical capabilities fostered successful extraction of the compound in 2017.

Japan is the second largest country to complete the successful extraction of methane hydrate in 2017. The country is engaged in the methane hydrate drilling activities since 2000 and has found breakthrough in 2017. In Canada, there is an increase in awareness among the key players, as there is a presence of highest number of methane hydrate reserves, and the favorable government initiatives to escalate the extraction, which will further impact the market in a positive manner.  The U.S. is expected to exhibit the highest CAGR of 7.4% due to technologically robust capabilities and planned methane hydrate extraction activities after 2022.

The major key players operating in the methane hydrate extraction market include Anadarko Petroleum Corporation, Schlumberger, BP p.l.c., ConocoPhillips, EQUINOR ASA, PetroChina, Japan Petroleum Exploration Company Limited (JAPEX), INPEX Corporation, Oil and Natural Gas Corporation (ONGC), and Indian Oil Corporation Ltd. (IOCL). As of now, JAPEX, and INPEX are the two market players who have active participation in the extraction activities of methane hydrate. The methane hydrate extraction market trends include the rise in governmental support and better knowledge of technology, which will further lead more companies to participate in the extraction process during the forecast period.

Based on country, China dominated the methane hydrate extraction market in 2017. This is due to consistent efforts to conduct extraction tests, ample investments to support the overall campaign, and support from China government.

Key Benefits for Methane Hydrate Extraction Market:

  • The report outlines the current trends and future scenario of the methane hydrate extraction market size from 2017 to 2025 to understand the prevailing opportunities and potential investment pockets
  • Porter’s five forces analysis helps to analyze the potential of buyers & suppliers and the competitive scenario of the industry for strategy building
  • Major countries in the region have been mapped according to their individual extraction volume contribution to the regional market
  • The key drivers, restraints, and methane hydrate extraction market opportunities and their detailed impact analysis are elucidated in the study
  • The profiles of key players along with their key strategic developments are enlisted in the report

Methane Hydrate Extraction Key Market Segments:

By Country

  • U.S.
  • Canada
  • China
  • Japan
  • India
  • Russia
 

CHAPTER 1:    INTRODUCTION

1.1.    Report description
1.2.    Key benefits for stakeholders
1.3.    Key market segments
1.4.    Research methodology

1.4.1.    Primary research
1.4.2.    Secondary research
1.4.3.    Analyst tools and models

CHAPTER 2:    EXECUTIVE SUMMARY

2.1.    Key findings

2.1.1.    Top investment pockets

2.2.    CXO perspective

CHAPTER 3:    MARKET OVERVIEW

3.1.    Market definition and scope
3.2.    Key forces shaping the methane hydrate extraction market

3.2.1.    Low-to-high bargaining power of suppliers
3.2.2.    Moderate-to-high threat of new entrants
3.2.3.    Moderate threat of substitutes
3.2.4.    Moderate intensity of rivalry
3.2.5.    Low-to-moderate bargaining power of buyers

3.3.    Market evolution
3.4.    Value chain analysis
3.5.    Market pain point analysis
3.6.    Race analysis
3.7.    Case studies

3.7.1.    Case Study 01

3.8.    Market dynamics

3.8.1.    Drivers

3.8.1.1.    Abundance of methane hydrate across the globe and  high potential associated with it
3.8.1.2.    Increasing methane hydrate extraction activities

3.8.2.    Restraints

3.8.2.1.    Life threatening risk and challenges associated with methane hydrate drilling activities

3.8.3.    Opportunities

3.8.3.1.    Government support to discover hydrate reserves and commercialize methane hydrate

CHAPTER 4:    METHANE HYDRATE EXTRACTION MARKET, BY COUNTRY

4.1.    Overview
4.2.    U.S.

4.2.1.    U.S. Methane hydrate extraction market (2021-2025)
4.2.2.    Estimated methane hydrates reserves in the U.S.
4.2.3.    Future plans

4.3.    Canada

4.3.1.    Canada Methane hydrate extraction market (2021-2025)
4.3.2.    Estimated methane hydrates reserves in Canada
4.3.3.    Future plans

4.4.    Japan

4.4.1.    Japan Methane hydrate extraction market (2021-2025)
4.4.2.    Estimated methane hydrates reserves in Japan
4.4.3.    Future plans

4.5.    China

4.5.1.    China Methane hydrate extraction market (2021-2025)
4.5.2.    Estimated methane hydrates reserves in China
4.5.3.    Future plans

4.6.    India

4.6.1.    India Methane hydrate extraction market (2021-2025)
4.6.2.    Estimated methane hydrates reserves in India
4.6.3.    Future plans

4.7.    Russia

4.7.1.    Russia Methane hydrate extraction market (2021-2025)
4.7.2.    Estimated methane hydrates reserves in Russia
4.7.3.    Future plans

CHAPTER 5:    COMPANY PROFILES

5.1.    Anadarko Petroleum Corporation

5.1.1.    Company overview
5.1.2.    Company snapshot
5.1.3.    Operating business segments
5.1.4.    Product portfolio
5.1.5.    Business performance
5.1.6.    Key strategic moves and developments

5.2.    Schlumberger Limited

5.2.1.    Company overview
5.2.2.    Company snapshot
5.2.3.    Operating business segments
5.2.4.    Product portfolio
5.2.5.    Business performance
5.2.6.    Key strategic moves and developments

5.3.    BP p.l.c.

5.3.1.    Company overview
5.3.2.    Company snapshot
5.3.3.    Operating business segments
5.3.4.    Product portfolio
5.3.5.    Business performance
5.3.6.    Key strategic moves and developments

5.4.    ConocoPhillips

5.4.1.    Company overview
5.4.2.    Company snapshot
5.4.3.    Operating business segments
5.4.4.    Product portfolio
5.4.5.    Business performance
5.4.6.    Key strategic moves and developments

5.5.    EQUINOR ASA

5.5.1.    Company overview
5.5.2.    Company snapshot
5.5.3.    Operating business segments
5.5.4.    Product portfolio
5.5.5.    Business performance
5.5.6.    Key strategic moves and developments

5.6.    PetroChina Company Limited

5.6.1.    Company overview
5.6.2.    Company snapshot
5.6.3.    Operating business segments
5.6.4.    Product portfolio
5.6.5.    Business performance
5.6.6.    Key strategic moves and developments

5.7.    Japan Petroleum Exploration Co., Ltd.

5.7.1.    Company overview
5.7.2.    Company snapshot
5.7.3.    Operating business segments
5.7.4.    Product portfolio
5.7.5.    Business performance
5.7.6.    Key strategic moves and developments

5.8.    INPEX Corporation

5.8.1.    Company overview
5.8.2.    Company snapshot
5.8.3.    Operating business segments
5.8.4.    Product portfolio
5.8.5.    Business performance
5.8.6.    Key strategic moves and developments

5.9.    Oil & Natural Gas Corporation (ONGC)

5.9.1.    Company overview
5.9.2.    Company snapshot
5.9.3.    Operating business segments
5.9.4.    Product portfolio
5.9.5.    Business performance
5.9.6.    Key strategic moves and developments

5.10.    Indian Oil Corporation Ltd.

5.10.1.    Company overview
5.10.2.    Company snapshot
5.10.3.    Operating business segments
5.10.4.    Product portfolio
5.10.5.    Business performance
5.10.6.    Key strategic moves and developments

LIST OF TABLES

TABLE 01.    METHANE HYDRATE EXTRACTION MARKET VOLUME, BY COUNTRY 2019–2026 (THOUSAND CU MTR)
TABLE 02.    U.S. METHANE HYDRATE EXTRACTION MARKET VOLUME, BY COUNTRY 2019–2026 (THOUSAND CU MTR)
TABLE 03.    CANADA METHANE HYDRATE EXTRACTION MARKET VOLUME, BY COUNTRY 2019–2026 (THOUSAND CU MTR)
TABLE 04.    JAPAN METHANE HYDRATE EXTRACTION MARKET VOLUME, BY COUNTRY 2019–2026 (THOUSAND CU MTR)
TABLE 05.    CHINA METHANE HYDRATE EXTRACTION MARKET VOLUME, BY COUNTRY 2019–2026 (THOUSAND CU MTR)
TABLE 06.    INDIA METHANE HYDRATE EXTRACTION MARKET VOLUME, BY COUNTRY 2019–2026 (THOUSAND CU MTR)
TABLE 07.    RUSSIA METHANE HYDRATE EXTRACTION MARKET VOLUME, BY COUNTRY 2019–2026 (THOUSAND CU MTR)
TABLE 08.    ANADARKO PETROLEUM CORPORATION: COMPANY SNAPSHOT
TABLE 09.    ANADARKO PETROLEUM CORPORATION: OPERATING SEGMENTS
TABLE 10.    ANADARKO PETROLEUM CORPORATION: PRODUCT PORTFOLIO
TABLE 11.    SCHLUMBERGER LIMITED: COMPANY SNAPSHOT
TABLE 12.    SCHLUMBERGER: OPERATING SEGMENTS
TABLE 13.    SCHLUMBERGER LIMITED: PRODUCT PORTFOLIO
TABLE 14.    BP PLC: COMPANY SNAPSHOT
TABLE 15.    BP PLC: OPERATING SEGMENTS
TABLE 16.    BP PLC: PRODUCT PORTFOLIO
TABLE 17.    CONOCOPHILIPS: COMPANY SNAPSHOT
TABLE 18.    CONOCOPHILIPS: OPERATING SEGMENTS
TABLE 19.    CONOCOPHILIPS: PRODUCT PORTFOLIO
TABLE 20.    EQUINOR ASA: COMPANY SNAPSHOT
TABLE 21.    EQUINOR ASA: OPERATING SEGMENTS
TABLE 22.    EQUINOR ASA: PRODUCT PORTFOLIO
TABLE 23.    PETROCHINA COMPANY LIMITED: COMPANY SNAPSHOT
TABLE 24.    PETROCHINA COMPANY LIMITED: OPERATING SEGMENTS
TABLE 25.    PETROCHINA: PRODUCT PORTFOLIO
TABLE 26.    JAPAN PETROLEUM EXPLORATION CO., LTD.: COMPANY SNAPSHOT
TABLE 27.    JAPAN PETROLEUM EXPLORATION CO., LTD.: OPERATING SEGMENTS
TABLE 28.    JAPAN PETROLEUM EXPLORATION CO., LTD.: PRODUCT PORTFOLIO
TABLE 29.    INPEX CORPORATION: COMPANY SNAPSHOT
TABLE 30.    INPEX CORPORATION: OPERATING SEGMENTS
TABLE 31.    INPEX CORPORATION: PRODUCT PORTFOLIO
TABLE 32.    OIL & NATURAL GAS CORPORATION: COMPANY SNAPSHOT
TABLE 33.    OIL & NATURAL GAS CORPORATION: OPERATING SEGMENTS
TABLE 34.    OIL & NATURAL GAS CORPORATION: PRODUCT PORTFOLIO
TABLE 35.    INDIAN OIL CORPORATION LTD.: COMPANY SNAPSHOT
TABLE 36.    INDIAN OIL CORPORATION LTD.: OPERATING SEGMENTS
TABLE 37.    INDIAN OIL CORPORATION LTD.: PRODUCT PORTFOLIO

LIST OF FIGURES

FIGURE 01.    KEY MARKET SEGMENTS
FIGURE 02.    EXECUTIVE SUMMARY
FIGURE 03.    TOP INVESTMENT POCKETS
FIGURE 04.    MARKET EVOLUTION
FIGURE 05.    VALUE CHAIN ANALYSIS
FIGURE 06.    MARKET PAIN POINT ANALYSIS
FIGURE 07.    RACE ANALYSIS
FIGURE 08.    METHANE HYDRATE EXTRACTION MARKET (2021-2025)
FIGURE 09.    U.S. METHANE HYDRATE EXTRACTION MARKET (2021-2025)
FIGURE 10.    CANADA METHANE HYDRATE EXTRACTION MARKET (2021-2025)
FIGURE 11.    JAPAN METHANE HYDRATE EXTRACTION MARKET (2021-2025)
FIGURE 12.    CHINA METHANE HYDRATE EXTRACTION MARKET (2021-2025)
FIGURE 13.    INDIA METHANE HYDRATE EXTRACTION MARKET (2021-2025)
FIGURE 14.    RUSSIA METHANE HYDRATE EXTRACTION MARKET (2021-2025)
FIGURE 15.    ANADARKO PETROLEUM CORPORATION: REVENUE, 2015–2017 ($MILLION)
FIGURE 16.    ANADARKO PETROLEUM CORPORATION: REVENUE SHARE BY SEGMENT, 2017 (%)
FIGURE 17.    ANADARKO PETROLEUM CORPORATION: REVENUE SHARE BY GEOGRAPHY, 2017 (%)
FIGURE 18.    SCHLUMBERGER: REVENUE, 2015–2017 ($MILLION)
FIGURE 19.    SCHLUMBERGER LIMITED: REVENUE SHARE BY SEGMENT, 2017 (%)
FIGURE 20.    SCHLUMBERGER LIMITED: REVENUE SHARE BY GEOGRAPHY, 2017 (%)
FIGURE 21.    BP PLC: REVENUE, 2015–2017 ($MILLION)
FIGURE 22.    BP PLC: REVENUE SHARE BY SEGMENT, 2017 (%)
FIGURE 23.    BP PLC: REVENUE SHARE BY GEOGRAPHY, 2017 (%)
FIGURE 24.    CONOCOPHILIPS: REVENUE, 2015–2017 ($MILLION)
FIGURE 25.    CONOCOPHILIPS: REVENUE SHARE BY SEGMENT, 2017 (%)
FIGURE 26.    CONOCOPHILIPS: REVENUE SHARE BY GEOGRAPHY, 2017 (%)
FIGURE 27.    EQUINOR ASA: REVENUE, 2015–2017 ($MILLION)
FIGURE 28.    EQUINOR ASA: REVENUE SHARE BY SEGMENT, 2017 (%)
FIGURE 29.    EQUINOR ASA: REVENUE SHARE BY GEOGRAPHY, 2017 (%)
FIGURE 30.    PETROCHINA COMPANY LIMITED: REVENUE, 2015–2017 ($MILLION)
FIGURE 31.    PETROCHINA COMPANY LIMITED: REVENUE SHARE BY SEGMENT, 2017 (%)
FIGURE 32.    PETROCHINA COMPANY LIMITED: REVENUE SHARE BY GEOGRAPHY, 2017 (%)
FIGURE 33.    JAPAN PETROLEUM EXPLORATION CO., LTD.: REVENUE, 2015–2017 ($MILLION)
FIGURE 34.    JAPAN PETROLEUM EXPLORATION CO., LTD.: REVENUE SHARE BY SEGMENT, 2018 (%)
FIGURE 35.    JAPAN PETROLEUM EXPLORATION CO., LTD.: REVENUE SHARE BY GEOGRAPHY, 2018 (%)
FIGURE 36.    INPEX CORPORATION: REVENUE, 2016–2018 ($MILLION)
FIGURE 37.    INPEX CORPORATION: REVENUE SHARE BY SEGMENT, 2018 (%)
FIGURE 38.    INPEX CORPORATION: REVENUE SHARE BY GEOGRAPHY, 2018 (%)
FIGURE 39.    OIL & NATURAL GAS CORPORATION: REVENUE, 2015–2017 ($MILLION)
FIGURE 40.    OIL & NATURAL GAS CORPORATION: REVENUE SHARE BY SEGMENT, 2017 (%)
FIGURE 41.    OIL & NATURAL GAS CORPORATION: REVENUE SHARE BY GEOGRAPHY, 2017 (%)
FIGURE 42.    INDIAN OIL CORPORATION LTD.: REVENUE, 2015–2017 ($MILLION)
FIGURE 43.    INDIAN OIL CORPORATION LTD.: REVENUE SHARE BY SEGMENT, 2017 (%)
FIGURE 44.    INDIAN OIL CORPORATION LTD.: REVENUE SHARE BY GEOGRAPHY, 2017 (%)

 
 

The methane hydrate extraction market is totally studied on the extraction activities undertaken by the various countries across the globe. Methane hydrate is successfully extracted by only two countries—China and Japan. Currently, this market is at a nascent stage, as the extraction process is not yet commercialized. As per the China Ministry of Land and Resources, commercially viable production of methane hydrates will not be possible until next 10 years, owing to the high cost associated with this process. However, China and Japan have successfully completed methane hydrate extraction but the industrial stage production still needs assistance of superior technology, which needs high investment.

The market lacks the active participation of key companies. Currently, only JAPEX and INPEX are directly involved in the extraction processes of the methane hydrate, and are investing a considerable amount and time in this process. Considering the rise in focus from various countries, the market is expected to be flooded by the several extraction activities over the coming years. The U.S. and Canada are expected to become key countries in this market, and are further projected to make strategic moves toward upcoming extraction plans, owing to the higher availability of resources.

 

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