New York, US, July 14, 2023 (GLOBE NEWSWIRE) -- According to a Comprehensive Report by MRFR/Market Research Future (MRFR), “Shale Gas Market Information by Technology, by End-User, and Region - Forecast till 2032", The shale Gas Market will rise from USD 61.2 Billion in 2023 to USD 96.8 Billion by 2032, with a CAGR of 5.90% during the review period (2023 - 2032).
Shale Gas Market Overview
Natural gas known as "shale gas" is discovered trapped in minute or sub microscopic pores in shale formations. This natural gas is a combination of organic materials (plant and animal remnants) and naturally occurring hydrocarbon gases. The primary hydrocarbon sought after by exploration companies, methane (CH4), typically makes up 70 to 90% of shale gas. This gas is used to create energy and for cooking and warmth in homes.
Shale Gas Market Competitive Landscape:
The most notable companies active in the market for shale gas are
- Southwestern Energy Company
- EQT Corporation
- Equinor ASA
- Repsol SA
- SINOPEC/Shs
- Chesapeake Energy Corporation
- Royal Dutch Shell PLC
- Exxon Mobil Corporation
- Chevron Corporation
- PETROCHINA/Shs
- Among others.
Get Free Sample PDF Brochure:
https://www.marketresearchfuture.com/sample_request/11778
Shale Gas Market USP Covered:
Market Drivers:
Shale gas production in the US jumped by more than 70% in the previous seven years, from 15,213 billion cubic feet in 2015 to 26,139 billion cubic feet in 2021. The drilling of new wells could result in an increase in shale gas production. While the United States relied heavily on Canada for its natural gas supplies for many years before the recent shale gas boom in the nation, Canada is known to have considerable conventional gas reserves.
Shale gas is one such unconventional source that Canada's industry is turning to due to the depletion of conventional natural gas sources. Shale gas deposits are currently being explored and developed in Alberta, British Columbia, Quebec, and New Brunswick, which could eventually equalize the disparity in shale gas production.
The depleting supplies of conventional gas and the rising demand for energy on a global scale have led to a shift towards alternative natural gas assets including coal bed methane, shale gas, and tight gas. Rising technology advancements in shale drilling are also anticipated to drive market expansion. Hydraulic fracturing, together with sophisticated horizontal drilling techniques, directional drilling, and other techniques, unlock the economic potential of shale gas, which is tightly compressed inside the shale resource rock.
Market Restraints:
The process of extracting shale gas produces hazardous pollutants and uses a lot of water. Environmental concerns have increased as a result, and activists have become more vocal in their opposition, which is projected to impede industry expansion. Having said that, it is anticipated that technological developments in non-conventional gas drilling in deep and ultra-deep water would give the sector demand the necessary boost.
Report Scope:
| Report Metrics | Details |
| Market Size 2032 | 2032: USD 96.8 Billion |
| CAGR during 2023-2032 | 5.90% CAGR |
| Base Year | 2022 |
| Forecast | 2023-2032 |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Technology, End User, and Region |
| Key Market Opportunities | Technological advancements |
| Key Market Dynamics | Rising energy demand along with depleting conventional gas reserves and increase in oil consumption and the rising growth in oil-dependent industries |
Browse In-depth Market Research Report (128 Pages) on Shale Gas Market:
https://www.marketresearchfuture.com/reports/shale-gas-market-11778
COVID 19 Analysis
Given the volatile prices for crude oil and natural gas, Break-Even (BE) prices for fracking operations, financial and technical limitations within the industry, developing global hydrocarbon demand, US political and regulatory factors, and environmental and societal sustainability, US shale oil and gas demand fell precipitously, prices fell precipitously, and bankruptcies were announced at unusually high rates.
Over 190 bankruptcies have occurred in the US shale business since 2010, with net negative free cash flows of $300 billion, capital impairments of over $450 billion, and net negative free cash flows of $300 billion. The global shale gas market was negatively impacted by these causes.
A core oil market management conflict has occurred at the same time as COVID-19. That issue primarily concerns the market shares held by Saudi Arabia, the largest sovereign producer among OPEC members, and Russia, which has collaborated with OPEC as "OPEC+" along with Mexico and occasionally Norway. The global oil business is in shambles as a result of the pandemic's ultra-low worldwide demand and the combined effects of OPEC+ chaos. Oil market management disagreements invariably lead to lower pricing.
As nations throughout the world started to stabilise their economies, demand fell, resulting in historically low oil and gas prices. As a result, it became less appealing to invest in LNG production and export facilities. U.S. producers started to doubt their investment timetables for new LNG export projects as the demand fell precipitously. Seven U.S. LNG projects with a potential capacity of 14 billion cubic feet per day have yet to make final investment decisions.
Ask for Customization:
https://www.marketresearchfuture.com/ask_for_customize/11778
Shale Gas Market Segmentation
By Technology
The three shale gas technologies are rotary, vertical, and horizontal fracking. The vertical fracking market segment had the largest market share in 2022. This is because it outperforms other fuel types in terms of affordability and low carbon breakdown.
By End User
Residential, commercial, industrial, power generation and transportation are among the end-user categories included in the Shale Gas Market segmentation. The power generation sector accounted for the largest market share in 2022. The expanding trend of power plants switching from coal to gas is expected to have a positive effect on market expansion. Governments seek to increase the country's reliance on shale gas in the energy mix. The majority of demand in international markets is driven by electricity generation since it burns more cleanly than other fossil fuels.
Buy Now Premium Research Report:
https://www.marketresearchfuture.com/checkout?currency=one_user-USD&report_id=11778
Regional Insights
Given a rising number of horizontal drilling and hydraulic fracturing to extract extremely hard shale from widespread deep underground reserves, North America Shale Gas has been in the lead since 2022 (45.80%). The International Trade Centre notes that the United States maintained its top position as the world's top gas producer in 2018 as a result of increasing exploration and production. The United States used to be a net importer of natural gas; now it is an exporter as a result of the development of shale gas. Since unconventional development is a dependable strategy to lower carbon footprint, major U.S. players are investing heavily in it. Additionally, the North American Shale Gas market in North America with the quickest market growth was Canada, while the U.S. Shale Gas market had the biggest market share.
Large reserves, new end-users of hydraulic fracturing technology, horizontal drilling, and the discovery of new shale gas sources are all contributing to the enormous growth of the European shale gas market. The U.K. shale gas market was expanding at the quickest rate in Europe, while the German shale gas market had the greatest market share.
From 2023 to 2032, the Asia Pacific market will grow at the quickest rate. The most technically recoverable resources on earth are supposedly found in China. The Chinese government has set lofty output targets. These established targets, which attract sizeable investments from all over the world, provide substantial market participants with a lucrative opportunity to explore and produce unconventional gas in the country.
Related Reports:
Oil Shale Market Research Report Information By Process, Method, Product, End Users And Region - Forecast Till 2030
Oil & Gas Separators Market Research Report Information by Technology, Type, Application – Forecast Till 2030
About Market Research Future:
Market Research Future (MRFR) is a global market research company that takes pride in its services, offering a complete and accurate analysis regarding diverse markets and consumers worldwide. Market Research Future has the distinguished objective of providing the optimal quality research and granular research to clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help answer your most important questions.
