Shale gas is natural gas trapped within the shale formation, and is derived from underground shale deposits that are broken up by hydraulic fracturing. The increasing popularity of shale gas in various industries has advocated a growing awareness regarding the benefits of shale gas as an energy resource. Shale gas emits less carbon content compared to coal; therefore, it could be used as a cleaner energy option for many countries that are presently depending on coal and crude oil, as an energy source. The significant number of shale reserves all over the globe and the competitive price of shale gas are key factors, which supplements the growth of the shale gas market. However, shale gas is currently being produced only in U.S.A., Canada, and China. The hydraulic fracturing method of shale gas extraction could create water scarcity; hence, the governments of some countries like Argentina and France have banned hydraulic fracturing process in some areas of the country. Again, shale gas production is not yet started in Europe, due to the unstructured regulatory framework of many European countries.
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The global shale gas market is expected to reach $214 billion by 2022, registering a CAGR of 14.4% during 2015 – 2022. In terms of end-users, the world shale gas market is segmented into industrial, power generation, residential, commercial and transportation. In 2015, power generation sector accounted for approximately one-third of the market share, both in terms of revenue and volume. This is mainly due to the abundancy and low carbon footprint of shale gas compared to coal-fired. Industrial sector would be the fastest growing segment at a CAGR of 13.3% during the forecast period. Due to its low price, shale gas is replacing conventional energy sources like coal, nuclear, hydro in many industries like chemical, fertilizer, hydrogel production and others.
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Geographically, the market has been segmented into North America, Europe, Asia-Pacific, and LAMEA. Currently, United States is the major producer of shale gas. Abundancy of technically recoverable shale reserves coupled with favorable government regulation for producers supplements the shale gas production in United States. Europe would be the fastest growing region, accounting for the highest CAGR of 59.5%, in terms of volume owing to availability of shale gas reserves in more than 14 European countries.
The key players included in the world shale gas market have adopted acquisition, joint ventures, partnerships and collaborations strategies to sustain the market competition. Some of the leading manufacturers profiled in this report include Baker Hughes Incorporation, Anadarko Petroleum Corporation, Antero Resources, Cabot Oil & Gas, Devon Energy, Encana Corporation, Reliance Industries Limited, SM Energy, Talisman Energy Inc., BHP Billiton Limited, Royal Dutch Shell, ConcoPhillips, ExxonMobil & Chesapeake Energy Corporation.
KEY MARKET BENEFITS:
- The projections in the report are based on the analysis of the current trends and future market potential for the period of 20142022 in terms of value and volume.
- Comprehensive analysis of the regional shale gas market has been provided in this report.
- Competitive intelligence (of leading manufacturers and distributors of shale gas) helps in understanding the competitive scenario across geographies.
- The key players in the shale gas market have been profiled and their growth strategies have been analyzed to understanding the competitive outlook of the market.
- SWOT analysis highlights the internal environment of leading companies for effective strategy formulation
SHALE GAS MARKET KEY SEGMENTS:
The world shale gas market is segmented as:http://www.acutemarketreports.com/category/oil-and-gas-market
- Power generation
By GeographyNorth America
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