The GMI Research expects the shale gas market to expand at a higher rate. From a regional perspective, North America is expected to dominate the market due to the high amount of recoverable sale reserves, followed by the active commercial production of shale. The increasing awareness about utilizing less emission natural gas in power generation will drive the market growth.
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Shale Gas Market Dynamics (including market size, share, trends, forecast, growth, and industry analysis)
Key Drivers
Some of the major factors responsible for the growth of the shale gas market include the strong demand for energy, decreasing conventional gas reserves, and the significant shift towards unconventional natural gas reserves like shale gas. The increasing number of shale reserves worldwide and the emerging trend of using shale gas as an energy resource in several sectors, such as industrial, power generation, transportation, commercial, residential, is another factor boosting shale gas growth market share in terms of revenue.
As per the shale gas growth market report, the rapid technological advancement in shale drilling, including the implementation of horizontal drilling and hydraulic fracturing and the rising trend of natural gas production from shale formations in domestic energy exploration and production, is further supporting the growth of the market. Shale gas has cleaner-burning and releases less carbon content in comparison to coal. Thus, it could be utilized as a cleaner energy option for power generation and heat. On the other hand, the pollution caused by the improper processing of natural gas, leakage of greenhouse gases during extraction, and several water supply concerns will hinder the growth of the market in the upcoming years.
Technology Segment Drivers
Based on the technology, the market is segmented into exploration & drilling, and fracturing fluid. The fracturing fluid segment is predicted to grow at a higher CAGR over the coming years, attributed to the rising popularity of fracturing technology due to its high hydrocarbon recovery technique for the extraction and high cost-efficiency. Furthermore, the deployment of hydraulic fracturing with horizontal drilling for drilling ultra-hard shale deep underground reserves and the usage of aqueous fluids including water, gel, acid, and brines, in the form of base fluid for the extraction of shale gas, are some other factors accelerating the market growth.
Shale Gas Market’s leading Manufacturers:
- 3legsresources
- Beach Energy Limited
- BNK Petroleum Inc.
- Chesapeake Energy Corporation
- Chevron Corporation
- Baker Hughes Company
- ConocoPhillips
- Devon Energy Corporation
- LNG Limited
- Marathon Oil Corporation
Shale Gas Market Segmentation:
Segmentation by Technology:
- Exploration & Drilling
- Fracturing Fluid
Segmentation by Application:
- Power Generation
- Industrial
- Residential
- Commercial
- Transportation
Segmentation by Region:
- North America
- United States of America
- Canada
- Asia Pacific
- China
- Japan
- India
- Rest of APAC
- Europe
- United Kingdom
- Germany
- France
- Spain
- Rest of Europe
- RoW
- Brazil
- South Africa
- Saudi Arabia
- UAE
- Rest of the world (remaining countries of the LAMEA region)
About GMI Research
GMI Research is a market research and consulting company that provides syndicated research reports, consulting services, and customized market research reports. Our reports are based on market intelligence studies to ensure relevant and fact-based research across numerous sectors, including healthcare, automotive, information technology & communication, FMCG, and other industries. GMI Research’s deep understanding related to the business environment helps us in generating objective strategic insights. Our research teams consisting of seasoned analysts and researchers have hands-on experience in various regions, including Asia-pacific, Europe, North America, and the Rest of the World. The market research report offers in-depth analysis, which contains refined forecasts, a bird’s eye view of the competitive landscape, factors impacting the market growth, and several other market insights to aid companies in making strategic decisions. Featured in the ‘Top 20 Most Promising Market Research Consultants’ list of Silicon India Magazine in 2018, we at GMI Research are always looking forward to help our clients to stay ahead of the curve.
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