Gas Hydrates Market Size, Share, Opportunities, And Trends By Type (Offshore/Marine Gas Hydrates, Onshore Gas Hydrates), By Product Type (Methane Hydrates, Carbon Dioxide (CO2) Hydrates, Nitrogen (N2) Hydrates, Other Hydrocarbon Hydrates), By Origins (Permafrost, Seabed), By Application (Transportation Fuel, Commercial, Industrial, Others), By Technology (Gas Hydrate Formation and Dissociation, Production and Extraction, Storage and Transportation), And By Geography - Forecasts From 2024 To 2029

The Gas Hydrates Market is anticipated to show a steady growth during the forecast period.

Gas hydrates are solid, ice-like compounds with gas molecules trapped within a crystal lattice of water molecules. The most common type is methane hydrate or methane clathrate, where methane molecules are enclosed within the water lattice. Gas hydrates, found in marine sediments on the ocean floor, form under high-pressure and low-temperature conditions, such as in deep-sea sediments and permafrost regions. These hydrates, like regular ice, have a cage-like structure that traps gas molecules, particularly methane hydrates. They have potential as a vast and unconventional natural gas source. However, extracting and using gas hydrates pose significant technical and environmental challenges, and research continues to explore their feasibility and potential risks. The gas hydrate market explores and commercializes methane hydrates as an unconventional energy source, focusing on assessing extraction technologies and evaluating the economic viability of vast methane reserves in deep-sea sediments and permafrost regions despite their early stages.

Market Drivers

• A decrease in greenhouse gas emissions would surge the gas-hydrates market growth.

As the world transitions to lower-carbon energy sources, gas hydrates could be considered part of the energy mix. Governments and industries can explore environmentally responsible alternatives like gas hydrates. They could reduce dependence on high-carbon fuels, aligning with global efforts to mitigate climate change. Gas hydrates could also support renewable energy integration, providing a stable and controllable source of energy that complements intermittent renewable sources like solar and wind, contributing to a more reliable and balanced energy supply. For instance, in September 2023, The International Council on Clean Transportation released a paper that discussed the potential of CO2-based mobile air conditioning systems in China's electric bus fleets to reduce greenhouse gas emissions, highlighting the environmental significance of these systems and the potential of these technologies in reducing greenhouse gas emissions.

• A rise in methane commercialization is anticipated in the gas-hydrates market growth

Gas hydrates, primarily composed of methane, are considered cleaner-burning fuels compared to coal and oil. If extracted and utilized with technologies that reduce methane emissions, they could potentially serve as a cleaner energy source. Methane hydrates are a potential, untapped energy resource, driven by the exploration and development of new energy sources to meet increasing energy demands. For instance, in July 2023, The Plan for the Development of Marine Energy and Mineral Resources was issued by the Japanese government. The Japanese government plans to commercialize seabed polymetallic sulfide deposits in the late 2020s, with private companies participating. The government will use AI and other technologies to identify new mineral deposits. Additionally, the government aims to develop technologies for future commercial production of methane hydrates, an essential energy resource for Japan's stable supply. The government will establish the necessary technologies, knowledge, and systems for commercialization by private companies by FY 2030. The Ministry of Education, Culture, Sports, Science and Technology will promote research on marine mineral resources, including basic technologies for exploring marine resources and survey methodologies.

• Geopolitical aspects and collaborations would bolster the gas hydrates market growth.

Countries and companies are exploring gas hydrates as an energy resource to improve energy security, reduce dependence on fossil fuels, and mitigate geopolitical uncertainties associated with their supply. Countries with substantial gas hydrate reserves may view their development as a strategic advantage, potentially reducing energy import dependence and influencing geopolitical dynamics. For instance, in December 2023, Santos partnered with JX Nippon Oil & Gas Exploration Corporation and ENEOS Corporation to conduct a joint feasibility study on capturing, transporting, and sequestering emissions from Japan. The Australian parliament has passed legislation allowing cross-border CO2 transfer, and Santos is leveraging this opportunity to collaborate on carbon capture and storage technology. The partnership aims to expand the Moomba CCS project and transform the Cooper Basin into a hub for decarbonization and low-carbon fuels. This cooperation will also enable the export of e-methane, a green hydrogen-based fuel.

Asia Pacific region is expected to grow significantly.

The gas hydrate market in the Asia Pacific region is influenced by various factors, including resource potential, energy demand, technological advancements, geopolitical considerations, and environmental policies. Countries like Japan and India are actively involved in gas hydrate research and exploration, which could lead to increased investment and growth. The region's rapid economic growth has increased energy demand, making gas hydrates a reliable and economically competitive energy source. Technological advancements in drilling and extraction technologies are crucial for commercial viability, and countries in the Asia Pacific region may view gas hydrates as a strategic energy resource, reducing dependence on external energy sources. Japan's ocean policies are systematically promoted through the Basic Act and the Master Plan on Ocean Policy, which is reviewed every five years and undergoes necessary changes, making it the fourth plan. The Plan confirms that commercializing marine energy and mineral resources in Japan's territorial waters and EEZ, such as methane hydrate, oil, natural gas, seabed polymetallic sulfide deposits, cobalt-rich manganese crust, polymetallic nodule, and rare earth muds, would make them valuable national resources unaffected by international affairs or geopolitical risks, improving Japan's self-sufficiency and enhancing economic security. Additionally, if there is a strong emphasis on reducing greenhouse gas emissions, gas hydrates could be seen as a more environmentally friendly option compared to conventional fossil fuels.

Market Restraints

• Technical challenges associated with the extraction activities could restrain the gas-hydrates market growth.

The extraction of gas hydrates from deep-sea reservoirs presents a complex technical challenge due to high pressures and low temperatures. Ensuring reservoir stability is crucial to prevent unintended consequences like subsurface subsidence or methane release, making the development of effective and economically viable technologies a significant challenge.

Market Developments

• March 2023- Midway through March, JX Nippon Oil & Gas Exploration Corporation (JX) declared that it had achieved a deal to purchase all of Japan Drilling Co. Ltd. (JDC)'s issued shares with funds affiliated with Aspirant Group Inc. JX Nippon Oil & Gas Exploration Corporation (JX) has agreed to acquire all of Japan Drilling Co. Ltd. (JDC)'s issued shares, with JDC becoming a consolidated subsidiary of JX. The acquisition will help JX increase the corporate value of JDC and pursue its stable growth. JX claims that joining forces with JDC will strengthen its competitiveness in the oil and natural gas development business, as JDC is the only company in Japan engaged in offshore drilling.
• October 2022- Chevron, an American multinational corporation, has set a 53% reduction in upstream methane-intensity targets to 2.0 kg CO?e/boe by 2028, and is supporting initiatives like the Global Methane Pledge and the Oil and Gas Climate Initiative's Aiming for Zero Methane Emissions Initiative to achieve these goals.

Segmentation

• By Type
  • Offshore/Marine Gas Hydrates
  • Onshore Gas Hydrates
• By Product Type
  • Methane Hydrates
  • Carbon Dioxide (CO2) Hydrates
  • Nitrogen (N2) Hydrates
  • Other Hydrocarbon Hydrates
• By Origins
  • Permafrost
  • Seabed
• By Application
  • Transportation Fuel
  • Commercial
  • Industrial
  • Others
• By Technology
  • Gas Hydrate Formation and Dissociation
  • Production and Extraction
  • Storage and Transportation
• By Geography
  • North America
    • USA
    • Canada
    • Mexico
  • South America
    • Brazil
    • Argentina
    • Others
  • Europe
    • Germany
    • UK
    • France
    • Spain
    • Others
  • Middle East and Africa
    • Saudi Arabia
    • UAE
    • Others
  • Asia Pacific
    • China
    • Japan
    • South Korea
    • India
    • Indonesia
    • Others

1. INTRODUCTION

1.1. Market Overview

1.2. Market Definition

1.3. Scope of the Study

1.4. Market Segmentation

1.5. Currency

1.6. Assumptions

1.7. Base, and Forecast Years Timeline

2. RESEARCH METHODOLOGY  

2.1. Research Data

2.2. Research Process

3. EXECUTIVE SUMMARY

3.1. Research Highlights

4. MARKET DYNAMICS

4.1. Market Drivers

4.2. Market Restraints

4.3. Market Opportunities

4.4. Porter’s Five Force Analysis

4.4.1. Bargaining Power of Suppliers

4.4.2. Bargaining Power of Buyers

4.4.3. Threat of New Entrants

4.4.4. Threat of Substitutes

4.4.5. Competitive Rivalry in the Industry

4.5. Industry Value Chain Analysis

4.6. Forward Proxy

5. GAS HYDRATES MARKET BY TYPE

5.1. Introduction

5.2. Offshore/Marine Gas Hydrates

5.3. Onshore Gas Hydrates

6. GAS HYDRATES MARKET BY PRODUCT TYPE

6.1. Introduction

6.2. Methane Hydrates

6.3. Carbon Dioxide (CO2) Hydrates

6.4. Nitrogen (N2) Hydrates

6.5. Other Hydrocarbon Hydrates

7. GAS HYDRATES MARKET BY ORIGINS

7.1. Introduction

7.2. Permafrost

7.3. Seabed

8. GAS HYDRATES MARKET BY APPLICATION

8.1. Introduction

8.2. Transportation Fuel

8.3. Commercial

8.4. Industrial

8.5. Others

9. GAS HYDRATES MARKET BY TECHNOLOGY

9.1. Introduction

9.2. Gas Hydrate Formation and Dissociation

9.3. Production and Extraction

9.4. Storage and Transportation

10. GAS HYDRATES MARKET BY GEOGRAPHY

10.1. Introduction

10.2. North America

10.2.1. USA

10.2.2. Canada

10.2.3. Mexico

10.3. South America

10.3.1.  Brazil

10.3.2. Argentina

10.3.3. Others

10.4. Europe

10.4.1. Germany

10.4.2. UK

10.4.3. France

10.4.4. Spain

10.4.5. Others

10.5. Middle East and Africa

10.5.1. Saudi Arabia

10.5.2. UAE

10.5.3. Others

10.6. Asia Pacific

10.6.1. China

10.6.2. Japan

10.6.3. South Korea

10.6.4. India

10.6.5. Indonesia

10.6.6. Others

11. COMPETITIVE ENVIRONMENT AND ANALYSIS

11.1. Major Players and Strategy Analysis

11.2. Market Share Analysis

11.3. Mergers, Acquisitions, Agreements, and Collaborations

12. COMPANY PROFILES

12.1. TotalEnergies SE

12.2. BP plc

12.3. Japan Drilling Co., Ltd. 

12.4. Chevron Corporation.

12.5. Schlumberger Limited.

12.6. Japan Oil, Gas, and Metals National Corporation

12.7. Oil and Natural Gas Corporation Ltd.

12.8. United States Department of Energy

TotalEnergies SE

BP plc

Japan Drilling Co., Ltd. 

Chevron Corporation.

Schlumberger Limited.

Japan Oil, Gas, and Metals National Corporation

Oil and Natural Gas Corporation Ltd.

United States Department of Energy