Global Shale Gas Market is expected to foresee significant growth. North America to lead the growth!

• Vikas Kumar
• July 30, 2022
• ENERGY & POWER, NEWS
• Shale Gas Market, Shale Gas Market Forecast, Shale Gas Market Growth, Shale Gas Market Share, Shale Gas Market size, Shale Gas Market Trend
• 0 Comments

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. Shale is a fine-grained sedimentary rock that forms when silt and clay-size mineral particles are compacted, and it is easily broken into thin, parallel layers. Black shale contains organic material that can generate oil and natural gas, which is trapped within the rock’s pores. Shale natural gas resources are found in shale formations that contain significant accumulations of natural gas and/or oil. 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.

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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.

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.

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For a better understanding of the market adoption of the Shale gas industry, the market is analyzed based on its worldwide presence in the countries such as North America (US, Canada, Rest of North America); Europe (Germany, UK, Spain, Italy, France, Rest of Europe); Asia Pacific (China, India, Australia, Japan, Rest of APAC); Middle East & Africa (UAE, Saudi Arabia, Nigeria, Algeria, Egypt, and Rest of MEA), and Latin America. 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 due to technological expertise and the 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.

Some of the major players operating in the market are Royal Dutch Shell PLC, ConocoPhillips, PetroChina Company Limited, Exxon Mobil Corporation, Chevron Corporation, Chesapeake Energy Corporation, BHP Billiton Limited, BP plc, Devon Energy Corporation, and Total SA.

Global Shale gas Market Segmentation

Market Insight, by Technology

• Horizontal fracking
• Vertical fracking
• Rotary fracking

Market Insight, by End-User

• Residential
• Commercial
• Industrial
• Power generation
• Transportation

Market Insight, by Region

• North America
  • U.S.
  • Canada
  • Rest of North America
• Europe
  • Germany
  • France
  • Spain
  • Italy
  • United Kingdom
  • Rest of Europe
• Asia-Pacific
  • China
  • India
  • Australia
  • Japan
  • Rest of Asia-Pacific
• Middle East & Africa
  • UAE
  • South Arabia
  • Nigeria
  • Algeria
  • Egypt
  • Rest of MEA
• Rest of the World

Top Company Profiles

• Royal Dutch Shell PLC
• ConocoPhillips
• PetroChina Company Limited
• Exxon Mobil Corporation
• Chevron Corporation
• Chesapeake Energy Corporation
• BHP Billiton Limited
• BP plc
• Devon Energy Corporation
• Total SA