Unconventional Natural Gas Extraction Market: Competitive Dynamics & Global Outlook 2019

01 April 2019

Globally, attention in unconventional natural gas production and related extraction technologies has taken off over the last 5 years owing to the influence of unconventional natural gas boom in the North American region. Many countries are looking forward to unconventional natural gas as a prospective energy source to alleviate supply shortages, reduce natural gas costs and generate further revenue. This report is anticipated to be helpful to corporations, industry players and others who have a stake in unconventional natural gas extraction market, as well as those who are taking into consideration expanding into this market.

The global market for unconventional natural gas extraction technologies was estimated at USD 61.35 billion in 2010 and reached USD 61.71 billion in 2011. The market is expected to grow at a CAGR of 8.3% from 2013 to 2019. North America accounted for USD 54.8 billion in 2011 and is expected to grow at a CAGR of 3.3% from 2013 to 2019. The North American vertical and directional drilling sector was estimated at USD 2.10 billion in 2011 and is expected to grow at a CAGR of 4.3% from 2013 to 2019. Asian market was valued at USD 5.35 billion in 2011 and is expected to grow at a CAGR of 23.4% from 2013 to 2019. The Asian vertical and directional drilling market was valued at USD 374 million in 2011 and is expected to grow at a CAGR of 18.6% from 2013 to 2019.

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The market can be segregated based on products and services as fleet management, wireless and cellular modules, original equipment manufacturer (OEM) services, processors, and aftermarket services. Fleet management is expected to account for a major share in the market owing to its extensively usage for tracking fleet vehicles by the managers. Moreover, the technology helps the manager to ensure timely maintenance of vehicle and avoid serious vehicle damage. For instance, WABCO Holdings Inc., a prominent supplier of technologies that improve the efficiency, connectivity, and safety of commercial vehicles, launched TRAXEE, a new fleet management system, which is intended to meet the needs of operators of small to medium-size commercial fleets. The system also provides real-time status updates on vehicles and drivers and helps to fulfil the tachograph legal compliance requirements. It can be operated on desktop computers and a wide range of mobile devices. The solution is also equipped with GPS as standard and can pinpoint the exact position of the vehicle.

Key technologies employed in the market include 2G, 3G, and 4G/LTE. 4G/LTE holds a prominent share in the market due to increasing demand for fast and advanced technology in connected vehicles. The technology offers driver to share and update the record of emergency service provider efficiently than other technologies. Navigation, telematics, and infotainment are some of the major applications of connected cars. Navigation is a leading application in the market owing to its high demand in connected cars, especially while traveling in cities.

North America is a leading region in the market owing to early adoption of machine-to-machine (M2M) technology in U.S. and high consumer demand for technologically advanced features in passenger cars. Asia-Pacific is anticipated to witness robust growth in the years to come owing to government regulations on vehicle safety. As a result, implementation of this technology has increased in passenger vehicles. Furthermore, presence of leading automotive companies in the region is expected to stimulate the market growth.

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