Dublin, Aug. 18, 2023 (GLOBE NEWSWIRE) -- The "Shale Gas Market - Growth, Trends, and Forecasts (2023-2028)" report has been added to ResearchAndMarkets.com's offering.
The global shale gas market is undergoing a significant transformation, poised to register a Compound Annual Growth Rate (CAGR) of over 9% during the forecast period. This market, which experienced a paradigm shift with the advent of the shale boom in 2007, is now navigating the challenges and opportunities presented by evolving energy consumption patterns, technological advancements, and environmental concerns.
Driving Forces
1. Growing Oil Consumption: The escalating demand for oil and its derivatives, driven by industries dependent on oil-based products, acts as a robust growth driver for the shale gas market. The versatility of oil's applications, ranging from transportation to manufacturing, ensures a sustained demand that contributes to the market's growth.
2. Technological Innovation: Advances in shale gas extraction technology, particularly in horizontal drilling, are reshaping the viability of shale gas reservoirs. These innovations are making shale gas production more economically and environmentally feasible, presenting a potential growth avenue for industry players.
Market Restraints
1. Price Volatility: The shale gas market faces the challenge of oil price volatility, with instances of prices plummeting below the production cost of shale gas. This fluctuation impacts the profitability of market players and necessitates strategies to manage price-related risks.
2. Environmental Concerns: The extraction process of shale gas, notably hydraulic fracturing or fracking, has raised environmental concerns. Issues like methane gas emissions and improper disposal of chemically treated water pose potential air and water pollution risks. These environmental impacts have attracted the attention of regulatory bodies and environmental organizations.
Market Trends and Regional Dominance
1. North America's Hegemony: The United States emerges as the juggernaut in shale gas production, setting the global benchmark. While efforts to replicate the American shale boom have been attempted in various countries, the United States remains unparalleled in shale gas extraction efficiency.
2. Canada's Shifting Landscape: Historically a significant supplier of natural gas, Canada is now transitioning from conventional to unconventional sources due to the decline in conventional reserves. The exploration and development of shale gas in provinces like Alberta, British Columbia, Quebec, and New Brunswick aim to balance this transition.
Environmental Conundrums
1. Air and Water Pollution Concerns: The extraction process, especially fracking, has raised concerns over methane gas emissions and the potential for air and water contamination. The release of chemically treated water and its disposal pose significant environmental risks, leading to criticism and opposition from environmental protection organizations and local communities.
2. Water Strain: Hydraulic fracturing operations require substantial water resources, contributing to water scarcity concerns, particularly in regions susceptible to drought. This water demand intensifies the pressure on water supplies and heightens the importance of sustainable water management practices.
3. Seismic Activity: Shale gas activities have been associated with an increase in seismic activity, with some regions experiencing elevated earthquake occurrences. The correlation between hydraulic fracturing and seismicity has drawn attention from regulatory bodies and concerned communities.
Market Competitors
The shale gas market exhibits moderate fragmentation, with several companies operating within the sector. Key players include Chesapeake Energy Corporation, Royal Dutch Shell PLC, Exxon Mobil Corporation, PetroChina Company Limited, and ConocoPhillips. These players are navigating a complex landscape, marked by economic, technological, and environmental dynamics.
In conclusion, the global shale gas market's growth is driven by oil consumption trends and technological advancements. However, environmental concerns, price volatility, and complex regulatory challenges present considerable obstacles. North America, led by the United States, maintains its dominance, while Canada's transition to unconventional sources adds to the market's dynamism. The industry's trajectory hinges on its ability to innovate, address environmental challenges, and navigate the evolving energy landscape.
Key Topics Covered
1 INTRODUCTION
1.1 Scope of the Study
1.2 Market Definition
1.3 Study Assumptions
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET OVERVIEW
4.1 Introduction
4.2 Shale Gas Production and Forecast in billion cubic meter (BCM), until 2027
4.3 Recent Trends and Developments
4.4 Government Policies and Regulations
4.5 Market Dynamics
4.5.1 Drivers
4.5.2 Restraints
4.6 Supply Chain Analysis
4.7 Porter Five Forces
4.7.1 Bargaining Power of Suppliers
4.7.2 Bargaining Power of Consumers
4.7.3 Threat of New Entrants
4.7.4 Threat of Substitutes Products and Services
4.7.5 Intensity of Competitive Rivalry
5 MARKET SEGMENTATION
5.1 Geography
5.1.1 North America
5.1.2 South America
5.1.3 Asia-Pacific
5.1.4 Europe
5.1.5 Middle-East and Africa
6 COMPETITIVE LANDSCAPE
6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
6.2 Strategies Adopted by Leading Players
6.3 Company Profiles
6.3.1 Antero Resources Corp.
6.3.2 Southwestern Energy Company
6.3.3 EQT Corporation
6.3.4 Equinor ASA
6.3.5 Repsol SA
6.3.6 SINOPEC/Shs
6.3.7 Chesapeake Energy Corporation
6.3.8 Royal Dutch Shell PLC
6.3.9 ExxonMobil Corporation
6.3.10 Chevron Corporation
6.3.11 PETROCHINA/SHS
6.3.12 ConocoPhillips
6.3.13 Pioneer Natural Resources
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
For more information about this report visit https://www.researchandmarkets.com/r/993w49
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Attachments
- Shale Gas Market Shale Gas Market Shale Gas Production In Billion Cubic Feet Bcf United States 2015 2022
- Shale Gas Market Shale Gas Market Carbon Dioxide Emissions From Energy In Million Tonnes Of Carbon Dioxide Global 2
