Global Methane Hydrate Extraction Market was valued at USD 42769.81 thousand cubic meter in 2021 and is expected to reach USD 71317.3188 cubic meter by 2029, registering a CAGR of 6.60% during the forecast period of 2022-2029. Seabed accounts for the largest source segment in the respective market owing to the presence of large quantities in seabed globally. In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team also includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, and climate chain scenario.
Methane hydrate refers to a solid compound containing large amount of methane rapped within a crystal structure of water. The compound is also known as methane clathrate, gas hydrate and fiery ice. These hydrates are generally extracted from the seabed.
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Scope of the Methane Hydrate Extraction Market Report:
The methane hydrate extraction market is segmented on the basis of source, type and application. The growth amongst these segments will help you analyze meager growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
- Organic Material
- National Defence
- Civil Use
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Some of the major players operating in the methane hydrate extraction market are
- Schlumberger Limited. (US)
- BP p.l.c. (UK)
- ConocoPhillips Company. (US)
- Equinor ASA (Norway)
- PetroChina Company Limited (China)
- Japan Petroleum Exploration Co., Ltd. (Japan)
- INPEX CORPORATION (Japan)
- Oil and Natural Gas Corporation Ltd. (India)
- Indian Oil Corporation Ltd. (India)
Methane Hydrate Extraction Market Regional Analysis/Insights
The Methane Hydrate Extraction market is analyzed and market size insights and trends are provided by country, material type, end user and application as referenced above.
The countries covered in the Methane Hydrate Extraction market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, Israel, Egypt, South Africa, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
North America dominates the market in terms of market share and market revenue and will continue to flourish its dominance during the forecast period of 2022-2029. The market growth over this region is attributed to the high demand for fiber cement Methane Hydrate Extraction within the region. Asia-Pacific on the other hand, is estimated to show lucrative growth over the forecast period of 2022-2029, due to the prominent presence of fiber cement Methane Hydrate Extraction market players within the region. Moreover, the high requirement for the residential and commercial building construction also boosts the regional demand.
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