Shale Gas Market: Current Analysis and Forecast (2021-2027)

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The Shale Gas market demand is increasing at an extensive rate over the years and is expected to witness significant growth during the forecasted period as well. The rising oil and gas exploration activities across the globe are fueling the market size of shale gas. Moreover, shale gas is used in a wide range of application areas and can be used as feedstock for the fertilizer industry to produce ammonia. Shale gas is used in the power industry replacing coal. Many countries are converting their coal-fired power plants to gas-fired power plants to reduce carbon emissions.

In addition, a significant surge in the number of oil-dependent industries, and wide application of shale gas for domestic heating and cooking purposes are expected to drive the growth of the global shale gas market. On the other hand, environmental concerns about the production of shale gas are expected to hamper the growth to some extent.

The global Shale gas market was valued at around 65 bn in 2020 and expected to grow at a CAGR of more than 8% during the period 2021-2027. Factors that are escalating the market size of shale gas are an increase in consumption of oil and the rising growth in the oil-dependent industries, new developments in shale gas production technology coupled with the reduction in natural gas pricing and improving supply and distribution infrastructure are accentuating the growth of the market. Moreover, shale gas reserves are found across the globe in significant volumes of about 16,103 trillion cubic feet as per the shale gas report by IEA. North America is the only region active with commercial production of shale gas as of the year 2010 and is expected to remain the largest shale gas market in terms of production volumes by the year 2021 with a share of 78% due to technological expertise and availability of resources.

Panasonic Corporation, ENGIE, Toshiba Corporation, Siemens Energy, FUJITSU, Evonik Industries AG, FUJIFILM Corporation, Toyota Central R&D Labs., Inc, Mitsubishi Chemical Corporation, and Weatherford are some of the key players in the market. Several M&As along with partnerships have been undertaken by these players to facilitate customers with hi-tech and innovative products/technologies.

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Insights Presented in the Report

“Based on technology, horizontal fracking segment accounted for the majority share in the market in 2020”

Based on the technology, the shale gas market is classified into horizontal fracking, vertical fracking, and rotary fracking. The horizontal fracking segment caters to extensive market share in the shale gas market. Horizontal fracking helps to access more of the gas, as shale reserves are typically distributed horizontally rather than vertically. In addition, horizontal franking makes it possible to operate multiple target zones from one drilling pad. It enlarges recoverable reserves and significantly increased productivity.

“Amongst end-user, power generation segment is expected to witness highest CAGR during the forecast period”

Based on the end-user, the shale gas market is segmented into residential, commercial, industrial, power generation, and transportation. The power generation segment acquired a considerable market share in the shale gas market increasing trend of coal to gas switching in power plants is expected to positively influence market growth. Governments are targeting an increasing share of shale gas in the energy mix of the country. Power generation drives the highest demand in international markets owing to its cleaner combustion quality as compared to other fossil fuels.

“North America to witness significant growth during the forecast period”

North America is expected to hold an extensive share in the shale gas market and is expected to grow at an influential rate in the forecasted period as well. North America is expected to remain the largest shale gas producer globally by the year 2021 with a share of 78 due to technological expertise and availability of resources. The United States is the main contributor to the regional growth owing to the deployment of hydraulic fracturing with horizontal drilling for drilling ultra-hard shale deep underground reserves present across the country.

Moreover, Canada is known to have significant conventional gas reserves, and the country was a key supplier of natural gas to the United States for decades until the recent shale boom in the country. Also, many oil and gas companies are now exploring and developing shale gas resources in Alberta, British Columbia, Quebec, and New Brunswick, which may balance the difference in shale gas production in the coming future.

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Reasons to buy this report:

• The study includes market sizing and forecasting analysis validated by authenticated key industry experts.
• The report presents a quick review of overall industry performance at one glance.
• The report covers an in-depth analysis of prominent industry peers with a primary focus on key business financials, product portfolios, expansion strategies, and recent developments.
• Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry.
• The study comprehensively covers the market across different segments.
• Deep dive regional level analysis of the industry.

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Research Methodology

Research Methodology for the Global Shale Gas Market Analysis (2021-2027)

Analyzing the historical market, estimating the current market, and forecasting the future market of the global Shale gas market were the three major steps undertaken to create and analyze the adoption of shale gas in major regions globally. Exhaustive secondary research was conducted to collect the historical market numbers and estimate the current market size. Secondly, to validate these insights, numerous findings and assumptions were taken into consideration. Moreover, exhaustive primary interviews were also conducted, with industry experts across the value chain of the global shale gas market. Post assumption and validation of market numbers through primary interviews, we employed a top-down/bottom-up approach to forecasting the complete market size. Thereafter, market breakdown and data triangulation methods were adopted to estimate and analyze the market size of segments and sub-segments of the industry pertains to. Detailed methodology is explained below:

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Analysis of Historical Market Size

Step 1: In-Depth Study of Secondary Sources:

Detail secondary study was conducted to obtain the historical market size of the Shale gas market through company internal sources such as annual reports & financial statements, performance presentations, press releases, etc., and external sources including journals, news & articles, government publications, competitor publications, sector reports, third-party database, and other credible publications.

Step 2: Market Segmentation:

After obtaining the historical market size of the Shale gas market, we conducted a detailed secondary analysis to gather historical market insights and share for different segments & sub-segments for major regions. Major segments are included in the report as technology and end-user. Further country-level analyses were conducted to evaluate the overall adoption of testing models in that region.

Step 3: Factor Analysis:

After acquiring the historical market size of different segments and sub-segments, we conducted a detailed factor analysis to estimate the current market size of the shale gas market. Further, we conducted factor analysis using dependent and independent variables such as an increase in consumption of oil and the rising growth in the oil-dependent industries. A thorough analysis was conducted for demand and supply-side scenarios considering top partnerships, mergers and acquisitions, business expansion, and product launches in the Shale gas market sector across the globe.

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Current Market Size Estimate & Forecast

Current Market Sizing: Based on actionable insights from the above 3 steps, we arrived at the current market size, key players in the global Shale gas market, and market shares of the segments. All the required percentage shares split, and market breakdowns were determined using the above-mentioned secondary approach and were verified through primary interviews.

Estimation & Forecasting: For market estimation and forecast, weights were assigned to different factors including drivers & trends, restraints, and opportunities available for the stakeholders. After analyzing these factors, relevant forecasting techniques i.e., the top-down/bottom-up approach were applied to arrive at the market forecast about 2027 for different segments and sub-segments across the major markets globally. The research methodology adopted to estimate the market size encompasses:

• The industry’s market size, in terms of revenue (USD) and the adoption rate of the Shale gas market across the major markets domestically
• All percentage shares, splits, and breakdowns of market segments and sub-segments
• Key players in the global shale gas market in terms of services offered. Also, the growth strategies adopted by these players to compete in the fast-growing market

Market Size and Share Validation

Primary Research: In-depth interviews were conducted with the Key Opinion Leaders (KOLs) including Top Level Executives (CXO/VPs, Sales Head, Marketing Head, Operational Head, Regional Head, Country Head, etc.) across major regions. Primary research findings were then summarized, and statistical analysis was performed to prove the stated hypothesis. Inputs from primary research were consolidated with secondary findings, hence turning information into actionable insights.

Split of Primary Participants in Different Regions

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Market Engineering

The data triangulation technique was employed to complete the overall market estimation and to arrive at precise statistical numbers for each segment and sub-segment of the global Shale gas market. Data was split into several segments & sub-segments post studying various parameters and trends in the technology and end-user in the global Shale gas market.

The main objective of the Global Shale Gas Market Study

The current & future market trends of the global Shale gas market were pinpointed in the study. Investors can gain strategic insights to base their discretion for investments on the qualitative and quantitative analysis performed in the study. Current and future market trends determined the overall attractiveness of the market at a regional level, providing a platform for the industrial participant to exploit the untapped market to benefit from a first-mover advantage. Other quantitative goals of the studies include:

• Analyze the current and forecast market size of the shale gas market in terms of value (USD). Also, analyze the current and forecast market size of different segments and sub-segments
• Segments in the study include areas of the technology and end-user.
• Define and analysis of the regulatory framework for the shale gas market industry.
• Analyze the value chain involved with the presence of various intermediaries, along with analyzing customer and competitor behaviors of the industry.
• Analyze the current and forecast market size of the shale gas market for the major region.
• Major countries of regions studied in the report include Asia Pacific, Europe, North America, MEA, and the Rest of the world.
• Company profiles of the Shale gas market and the growth strategies adopted by the market players to sustain in the fast-growing market
• Deep dive regional level analysis of the industry

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