Oil Shale - Global Market Outlook (2017-2026)
According to Stratistics MRC, the Global oil shale accounted for $1,609.32 million in 2017 and is expected to reach $6,992.43 million by 2026 growing at a CAGR of 17.7% during the forecast period. Increasing depletion of crude oil reserves, benefits of oil shale and rising energy demand are some key factors influencing the market growth. However, factors such as high cost equipment & production and environmental issues are hampering the market growth.
Oil shale refers to crude oil trapped in sedimentary rock. It releases hydrocarbons when heated and used as an alternative for petroleum or natural gas. Rock-like at room temperature, oil shale produces vapors and gases when heated, which in turn are condensed and turned into oil. Oil shale can be extracted via surface, underground, or "in-situ" mining, in which kerogen is heated underground and pumped to the surface.
Based on Technology, In-situ segment held significant market share during the forecast period attributed to development in drilling technologies coupled with groundwater pollution. By geography, North America is expected to grow at a faster rate due to presence of abundant oil shale reserves in this country.
Some of the key players in oil shale market include Anadarko, Occidental Petroleum, ExxonMobil, Marathon Oil, EOG Resources, SM Energy, Cabot Oil & Gas, Chevron Corporation, Pioneer Natural Resources, ConocoPhillips, Independent Energy Partners (IEP), Israel Chemicals Ltd, Royal Dutch Shell, Harbin Coal Chemical Company and Oil India Limited (OIL).
• Oil Shale Retortion
• Shale Oil Exploration
• Shale Oil Refining
• Ore Preparation
• Specialty Services
• Shale Gasoline
• Heavy Oil
• Shale Diesel
• Other Products
• Ex-Situ Technology
• In-Situ Technology
• Other Applications
- North America
- Rest of Europe
- Asia Pacific
- New Zealand
- South Korea
- Rest of Asia Pacific
- South America
- Rest of South America
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
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