India Unconventional Gas Market to Grow with a CAGR of 4.21% through 2030

Growing Demand of Unconventional Gas in Power Generation and Growing Demand of Unconventional Gas in Automotive Industry are expected to drive the India Unconventional Gas Market growth in the forecast period, 2026-2030

According to TechSci Research report, “India Unconventional Gas Market- By Region, Competition, Forecast and Opportunities, 2030F”, the India Unconventional Gas Market was anticipated to be USD 1.51 billion by 2024 and is anticipated to grow with a CAGR of 4.21% in the forecast period through 2030.

The India Unconventional Gas Market has experienced notable advancements, driving its robust growth. A key factor in this growth is the surge in exploration and production activities within shale gas and coal-bed methane (CBM) reserves across the country. Major industry players like Oil and Natural Gas Corporation (ONGC) and Reliance Industries Limited (RIL) are heavily investing in these resources, aiming to unlock their vast potential and contribute to India's energy security. Government initiatives and policy reforms have played a pivotal role in shaping the market’s trajectory. The implementation of the Hydrocarbon Exploration Licensing Policy (HELP) and the Open Acreage Licensing Policy (OALP) has streamlined the regulatory process, creating a more conducive environment for companies to invest in unconventional gas exploration. Furthermore, the government's focus on reducing reliance on imported fossil fuels and promoting cleaner energy alternatives has bolstered the sector’s growth.

Technological innovations, particularly in drilling techniques like horizontal drilling and hydraulic fracturing, have significantly enhanced the efficiency and cost-effectiveness of extracting unconventional gas. These advancements have unlocked previously inaccessible resources, making their development economically viable and creating new growth opportunities for the market. Rising awareness of the environmental benefits of unconventional gases, such as their lower carbon emissions compared to traditional fossil fuels, has fostered greater acceptance of these resources. As India strives to meet its climate goals, unconventional gases are increasingly seen as a crucial component of the nation’s energy transition.

The Indian government's efforts to support the unconventional gas sector have contributed to favorable market conditions. In 2018, India introduced a comprehensive policy framework to support the exploration and exploitation of unconventional hydrocarbons, including shale oil/gas and CBM. This policy aims to reduce India’s dependence on conventional fossil fuels and foster energy security by incentivizing investments in unconventional gas. To further encourage private sector participation, the government has taken steps to deregulate the hydrocarbon industry, creating opportunities for foreign investment and stimulating competition. This approach is intended to drive innovation, improve operational efficiency, and accelerate the sustainable development of India's hydrocarbon resources.

Increased research and development (R&D) efforts have been instrumental in advancing the unconventional gas market. Innovations in extraction techniques, particularly in regions like West India, have significantly reduced production costs, positioning unconventional gas as a competitive alternative to conventional energy sources. This has driven demand in the power generation and industrial sectors, further solidifying the market's growth potential.

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The India Unconventional Gas Market is segmented into type, application, regional distribution, and company

Based on its type, the shale gas segment stands out as the fastest-growing, Shale gas, a form of natural gas extracted from shale rock formations deep underground, has gained considerable momentum in recent years due to its significant growth potential and numerous advantages. One key factor driving the rapid growth of the shale gas segment is its abundant availability in various regions across India. The country is endowed with substantial reserves of shale gas, particularly in states like Gujarat, Rajasthan, and Madhya Pradesh, among others. These reserves hold immense potential for exploration and production, attracting considerable interest and investment from both domestic and international players.

Technological advancements have also played a crucial role in accelerating the growth of the shale gas market. Innovations in drilling techniques, such as horizontal drilling and hydraulic fracturing (fracking), have made it possible to extract shale gas from previously inaccessible rock formations more efficiently and economically. These advancements have opened up new opportunities for shale gas development, driving market growth.

Shale gas is increasingly recognized for its environmental advantages compared to conventional fossil fuels. It emits fewer greenhouse gases and pollutants when burned, making it a cleaner and more environmentally friendly energy source. As India seeks to reduce its carbon footprint and transition towards cleaner energy alternatives, shale gas is emerging as a preferred option, further fueling its market growth.

Major companies operating in India Unconventional Gas Market are:

• Oil & Natural Gas Corporation
• Chevron Petroleum India Private Limited
• Exxon Mobil India Private Limited
• Reliance Industries Limited
• Oil India Limited

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“The India Unconventional Gas Market is poised for substantial growth, driven by strategic government policies, technological advancements, and increased investment in exploration and production. With a favorable regulatory environment, including initiatives like the Hydrocarbon Exploration Licensing Policy (HELP) and Open Acreage Licensing Policy (OALP), coupled with innovations in drilling technologies, India is well-positioned to unlock the potential of its shale gas and coal-bed methane reserves. As the market continues to evolve, the demand for unconventional gas is set to rise, further contributing to the country’s energy security, environmental goals, and sustainable economic development. With ongoing investments and a growing focus on cleaner energy alternatives, the sector is primed to play a key role in India's energy transition”, said Mr. Karan Chechi, Research Director of TechSci Research, a research-based management consulting firm.

“India Unconventional Gas Market By Type (Shale Gas, Tight Gas, Coalbed Methane, Others), By Application (Industrial, Residential, Commercial, Power Generation, Transportation, Others), By Region, Competition, Forecast & Opportunities, 2020-2030F”, has evaluated the future growth potential of India Unconventional Gas Market and provides statistics & information on market size, structure, and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in India Unconventional Gas Market.

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