Shale Gas Market Forecasts to 2028 – Global Analysis By Technology (Exploration & Drilling, Fracturing Fluid), Application (Commercial, Industrial, Power Generation, Residential, Transportation, Buildings) and By Geography
According to Stratistics MRC, the Global Shale Gas Market is accounted for $74.11 billion in 2020 and is expected to reach $164.72 billion by 2028 growing at a CAGR of 10.5% during the forecast period. The low price of shale gas and technological advancements are the major factors propelling the market growth. However, environmental hazards are hampering market growth.
Shale gas is natural gas trapped within the shale formation and is derived from underground shale deposits that are wrecked up by a process known as fracking or hydraulic fracturing. The growing popularity of shale gas in various industries has advocated a rising awareness regarding the benefits of shale gas as an energy resource.
Based on the application, the power generation segment holds the largest share in the market due to the growing trend of coal to gas switching in power plants. Power generation drives the highest demand in international markets due to its cleaner combustion quality as compared to other fossil fuels.
By geography, North America is expected to dominate the market due to the overwhelming production of shale on the continent. On the other hand, Canada is well-known to have major 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.
Some of the key players profiled in the Shale Gas Market include Anadarko Petroleum Corporation, Baker Hughes Incorporation, BHP Billiton Limited, BP Plc, Chesapeake Energy Corporation, Chevron Corporation, China Petrochemical Corp., ConocoPhillips Co., Devon Energy, Encana Corporation, ExxonMobil, Occidental Petroleum Corp., PetroChina Company Limited, Royal Dutch Shell Plc, and Total SA.
Estimated Market Size in 2020:
USD 74.11 billion
Compound Annual Growth Rate (CAGR) from 2020 to 2028:
Predicted 2028 Value:
USD 164.72 billion
Tables, Graphs & Figures
Technology, Application and Region
Core Drivers and Opportunities:
Restraining Factors & Market Threats:
• Exploration & Drilling
• Fracturing Fluid
• Industrial and Manufacturing Applications
• Power Generation
• North America
o Rest of Europe
• Asia Pacific
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o South Africa
o Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2019, 2020, 2021, 2025, and 2028
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
o Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances
Key Questions Answered In The Report
The Global Shale Gas Market is majorly driven by the low price of shale gas, the large number of shale reserves, and technological advancements.
The power generation segment is growing at the highest CAGR due to the plenty and low carbon footprint of shale gas compared to coal-fired.
North America dominated with a significant market share owing to the overwhelming production of shale on the continent.
Asia Pacific market is growing at the highest CAGR due to the development of efficient drilling techniques to reduce the cost of exploration and production.
Key players in Shale Gas Market include Anadarko Petroleum Corporation, Baker Hughes Incorporation, BHP Billiton Limited, BP Plc, Chesapeake Energy Corporation, Chevron Corporation, China Petrochemical Corp., ConocoPhillips Co., Devon Energy, Encana Corporation, ExxonMobil, Occidental Petroleum Corp., PetroChina Company Limited, Royal Dutch Shell Plc, and Total SA.
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