Global Oil Shale Market: reached a value of US $ 2370 Mn. in 2020. Ex-situ is one of the dominating segment of the Global Oil Shale Market.
Global Oil Shale Market Overview:
The objective of this MMR report is to figure out how big the Global Oil Shale Market is. The global industry is covered in both qualitative and quantitative detail in this MMR Global Oil Shale Market Report. Find out about the most important Global Oil Shale market drivers, constraints, opportunities, success pressures, issues, and concerns. Asia Pacific, North America, Europe, and other regions will be split and forecasted in greater detail (ROW). The key countries in each region are further split and forecasted. Maximize Market Research used secondary sources such as encyclopaedias, directories, and databases to gather information for this large commercial analysis of the Global Oil Shale market. We contacted major industry and supplier experts as a primary source to get and evaluate vital data and forecast the sector’s future possibilities.
The growing global demand for energy across the globe is primarily driving the growth of the oil shale market. As the energy demand grows, the oil and energy sector are expected to explore new ways to generate energy, and Oil shale is one such alternative. The rise of oil shale has also been aided by the depletion of crude oil. The development of kerogen extraction techniques from oil shale, along with advancements in drilling techniques, is expected to create future market growth opportunities.
Inflationary crude oil prices, along with the cost advantages of using oil shale over traditional energy sources, are driving consumer demand for oil shale. Increased vehicles sales as a result of rising income levels and expanding urbanization also have an impact on the market. Furthermore, rising energy consumption and the development of new power plants are boosting demand for shale oil across the globe. In addition, considerable growth in global construction activity is fueling the demand for cement and other materials, which is boosting the oil shale market.
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Global Oil Shale Market Segmentation:
Based on the Process, the Oil Shale Market is segmented into In-situ and Ex-situ. The Ex-situ segment held the largest market share accounting for 58.73% in 2020. Oil shale is initially extracted from the earth by surface or underground mining in the ex-situ process. The extracted rock is crushed and then heated to release the shale oil. Impurities such as sulphur are then removed from the shale oil. The segment growth is attributed to the growing adoption of the ex-situ process to obtain shale oil.
The In-situ segment is expected to witness significant growth at a CAGR of 8.2% during the forecast period. As in- situ process is environmentally friendly, as during extraction it protects the groundwater from contamination.
Based on the Application, the Oil Shale Market is segmented into Electricity, Fuel, Cement, and Others. The Electricity segment held the largest market share, accounting for 41 % in 2020. The segment growth is attributed to the growing need for electricity across the globe. According to the latest edition of the IEA’s semi-annual Electricity Market Report, after falling by about 1% in 2020 due to the impact of the Covid-19 pandemic, global electricity demand is expected to grow by close to 5% in 2021 and 4% in 2022. The increased use of oil shale in the application of electricity is boosting the oil shale market growth for this segment.
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Global Oil Shale Market Key Players:
• AFSK HOM TOV
• American Resource Petroleum Corp.
• American Shale Oil Corp.
• Aurasource, Inc.
• Blue Ensign Technologies Ltd.
• Chattanooga Corp
• Chevron Shale Oil Company
• Eesti Polevkivi
• Electro-Petroleum, Inc.
• Exxon Mobil Corp.
• Oil Shale Exploration Company
• General Synfuels International
• Central Pacific Minerals
• BP
• Harbin Coal Chemical Company
• Japan Oil
• Baraka Energy & Resources
• Ambre energy
• Gas & Metals National Corp
• Oil India Limited
• Independent Energy Partners
• Queensland Shale Oil Limited
• Israel Chemicals Ltd
• Royal Dutch Shell
Global Oil Shale Market Regional Analysis:
Maximize market research Global Oil Shale Market reports are available for North America, Asia Pacific, Europe, Latin America, the Middle East, and Africa. As part of its research, MMR looks into important market segments and sub segments, as well as major market sectors. Make the most of market research Global Oil Shale Market studies rank creative nations by market size, share, and volume. Quantity, area, sales, market chain systems, and trends are all part of the package.
To produce a 360-degree analysis of the Global Oil Shale Market, MMR conducted both primary and secondary research. This aided in the comprehension of current market dynamics, such as supply-demand imbalances, pricing patterns, product preferences, and customer behaviour, among other things. The findings were backed up by primary research with industry professionals and opinion leaders from throughout the world. The data is compiled and validated using a variety of market estimation and data validation approaches. MMR has its own data forecasting engine, which forecasts market growth until 2027.
COVID-19 Impact Analysis on Global Oil Shale Market:
The COVID-19 Rule had a substantial impact on global, industrial, and labour expectations in 2020 and 2021. COVID-19 is a threat to society and our way of life, requiring immediate industrial assistance and innovation. COVID-19 causes a slew of issues for Indian expats. As a result of the embargoes, millions of migrant workers have lost their employment, are facing food shortages, and are concerned about their future.
The overall purpose of the MMR study is to better understand the current economy, COVID-19, and its implications for the commercial sector. The COVID-19 is followed by MMR in most industries, sectors, and fields. With the Maximize Market Research Report, you can see how COVID-19 can affect industry losses and growth (MMR).
Key Questions Answered in the Global Oil Shale Market Report are:
- Which product segment grabbed the largest share in the Global Oil Shale market?
- How is the competitive scenario of the Global Oil Shale market?
- Which are the key factors aiding the Global Oil Shale market growth?
- Which region holds the maximum share in the Global Oil Shale market?
- What will be the CAGR of the Global Oil Shale market during the forecast period?
- Which application segment emerged as the leading segment in the Global Oil Shale market?
- Which are the prominent players in the Global Oil Shale market?
- What key trends are likely to emerge in the Global Oil Shale market in the forecast period?
- What is the expected Global Oil Shale market size by 2027?
- Which company held the largest share in the Global Oil Shale market?
About Maximize Market Research:
Maximize Market Research, a global market research firm with a dedicated team of professionals and data has carried out extensive research on the Transportation management system market. Maximize Market Research provides syndicated and custom B2B and B2C business and market research on 12,000 high-growth emerging technologies, opportunities, and threats to companies in the chemical, healthcare, pharmaceuticals, electronics, and communications, internet of things, food and beverage, aerospace and defense, and other manufacturing sectors. Maximize Market Research is well-positioned to analyze and forecast market size while also taking into consideration the competitive landscape of the sectors.
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