According to TMR, the Global Methane Market is accounted for $88.55 billion in 2017 and is expected to reach $151.27 billion by 2026 growing at a CAGR of 6.1% during the forecast period. Some of the key factors boosting the market are extensively used in manufacturing fuel, growing electricity production owing to the increasing demand for power and the increasing use of transportation vehicles are driving the market. However, the difficulty in storage and transportation, and its explosive nature hampers the market growth of Methane market.
Methane is a chemical compound with the chemical formula CH4 (one atom of carbon and four atoms of hydrogen). It is a group-14 hydride and the simplest alkane, and is the main constituent of natural gas. The relative abundance of methane on Earth makes it an attractive fuel, although capturing and storing it poses challenges due to its gaseous state under normal conditions for temperature and pressure.
Based on Application, Fuel segment is expected to grow during the forecast period as these materials are made to react with other substances so that it releases energy as heat energy or to be used for work. The concept was originally applied solely to those materials capable of releasing chemical energy but has since also been applied to other sources of heat energy such as nuclear energy.
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By Geography, Asia Pacific is anticipated to exhibit considerable growth due to growing industrialization which has led to the growth in the number of industries and the increased usage of methane as feedstock. Additionally, it is also used in the rapidly growing automotive industries as fuel.
Some of the key players in Global Methane market are BP PLC, Oil And Natural Gas Corporation, IGas Energy, Black Diamond Energy Inc., China National Petroleum Corporation, Senex Energy Limited, Royal Dutch Shell PLC, Occidental Petroleum, China National Offshore Oil Company, Dart Energy Corporation, TLOU Energy Ltd, Metgasco Ltd., Bow Energy and G3 Exploration.
• Natural Gas
• Chemical Feedstock
• Liquified Natural Gas
• Liquid-Methane Rocket Fuel
• Power Generation
• Other Applications
End Users Covered:
• Aerospace & Defense
• Other End Users
• North America
o Rest of Europe
• Asia Pacific
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o South Africa
o Rest of Middle East & Africa
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