Methane Market Demand, Application, COVID-19 Analysis, Share, Forecast 2023

Methane Market Overview

Global methane market has been segmented based on source, application, end-use industry, and region.

Based on source, global methane market has been segmented into natural and synthetic. Natural segment dominated the global methane market by source in 2017, and it is expected to continue the dominance during the review period. The increasing industrialization and the excessive demand from different end-use industries such as automotive, chemical, and electrical industries have led to the increasing production of methane by synthetic processes.

By application, global methane market has been divided into fuel, natural gas, liquefied natural gas, liquid-methane rocket fuel, chemical feedstock, and others. Natural gas segmented held the largest share by application in 2017. Owing to the extensive used of natural gas for producing electricity as well as fuel, the segment is expected to continue to be the largest shareholder, by application in the global methane market during the review period,

On the basis of end-use industry, global methane market report has been classified into automotive, aerospace & defense, electrical, chemical, and others. Among them, electrical industry segment dominated the global methane market by end-use industry in 2017, owing to the increasing use of natural gas for the production of electricity in the North America and Asia-Pacific. The segment is projected to continue this dominance during the review period.

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Methane Market Regional Analysis:

Global methane industry is analyzed across five regions: Asia-Pacific, North America, Europe, Latin America, and the Middle East & Africa. Asia-Pacific held the largest share in the global methane market in 2017. It held 43% share in the market with highest CAGR of 7.7%, owing to the increasing industrialization and growing demand from electrical and chemical industries. North America and Europe occupied the second and the second and third position respectively, based on share in the global methane market. The increasing application of methane as fuel and chemical feedstock have contributed to the growth of the product market in these regions. Furthermore, Latin America is expected to show moderate growth during the forecast period. The growth in industrialization in this region and the increasing use as fuel and rocket fuel, are attributing to the growth in this region. However, the Middle East & Africa market is projected to show steady growth during this region, owing to the presence of crude oil reserves and petrochemical industries in the region.

Methane Market Key Players:

Some of the key players in the global Methane market analysis are Oil and Natural Gas Corporation (India), Royal Dutch Shell PLC (The Netherlands), Senex Energy Limited(Australia), G3 Exploration (UK), Black Diamond Energy Inc.(US), Halliburton Co. (US), IGas Energy (UK), China National Offshore Oil Company (China), China National Petroleum Corporation (China), Metgasco Ltd. (US), BP PLC (UK) and TLOU Energy Ltd (Australia), Dart Energy Corporation (US), Bow Energy (Canada), American Gas Products (US),  among others.

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