Shale Gas Market Overview:
A renewable heat source to grow rapidly in the Shale Gas Market during the forecast period because the renewable heat sources help in meeting the increasing energy needs, improving efficiency, decreasing greenhouse gas emission, and refining climate conditions. A Geothermal heat source uses one or more production areas as heat sources to supply Shale Gas to residential and commercial structures.
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Estimated Growth of Revenue:
Shale Gas Market size was valued at US$ 62.06 Bn. in 2021 and the total revenue is expected to grow at a CAGR of 8.5% from 2022 to 2029, reaching nearly US$ 119.19 Bn.
Shale Gas Market Scope:
We looked at the Shale Gas Market from every perspective possible, using both primary and secondary research methodologies. This increased our understanding of current market dynamics such as supply-demand imbalances, pricing trends, product preferences, and customer behavior, among other things. The data is then compiled and assessed using a range of market estimation and data validation methodologies. Furthermore, we have an in-house data forecasting engine that forecasts market growth until 2027.
Shale Gas Market Dynamics:
The use of unconventional natural gas reserves including shale gas, tight gas, and coal bed methane has increased due to the increase in global energy demand and the depletion of traditional gas reservoirs. The market is also expected to grow as a result of rising technological developments in shale drilling. Commercial amounts of shale gas that are trapped deep inside the shale source rock are obtained using hydraulic fracturing, combined with additional techniques of directional drilling and horizontal drilling. Due to the huge shale gas reserves spread out over the country, the market in the United States is expected to experience significant growth. Growing shale production was a result of the discovery of new reserves. The United States generated 25.3 trillion cubic feet of dry shale gas in 2019, up from 22.1 trillion cubic feet in 2018, according to the International Energy Association.
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Shale Gas Market Segmentation:
Based on the End-user, the market is segmented into Residential, Commercial, Industrial, Power generation, and Transportation. Power generation End-user segment is expected to grow rapidly at a CAGR during the forecast period 2022-2029. It is expected that the rising trend of power plants converting from coal to gas will significantly impact market growth. Governments aim for a rising share of shale gas in the nation’s energy mix. Due to its cleaner burning than other fossil fuels, power generation drives the majority of demand in international markets. Industrial End-user segment is expected to grow rapidly at a CAGR during the forecast period 2022-2029. During the forecast period, the industrial segment is expected to be driven by the conversion of shale gas into value-added outputs. Opportunities to utilise this plentiful resource to increase industrial output would result in higher value-added goods that could subsequently be exported abroad more easily than the main energy source for practically any country rich in shale gas. For instance, natural gas is needed as a feedstock in the manufacturing of chemicals, fertilisers, and a number of other goods.
Shale Gas Market Leading Companies:
• BHP Billiton Limited
• Anadarko Petroleum Corporation
• Antero Resources
• Cabot Oil & Gas
• Devon Energy
• Encana Corporation
• Baker Hughes Incorporation
Regional Analysis:
The Shale Gas market prediction research is created after a thorough examination of many geographical areas, including Asia-Pacific, Europe, North America, and the rest of the globe. North America has the greatest power over the Shale Gas market share and will continue to be a major shareholder in the global Shale Gas market.
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COVID-19 Impact Analysis on Shale Gas Market:
The COVID-19 pandemic caused a significant and extended drop in production utilization, and travel prohibitions and facility closures have kept personnel away from their facilities, causing the Shale Gas market to decelerate in 2020. The new report includes insights, analysis, estimates, and predictions that include the influence of COVID 19 on the Shale Gas# market. Maximize Shale Gas Market Research report includes an in-depth analysis of consumer behavior in the wake of the pandemic as well as its impact on the future of the Shale Gas market along with the impact on segmentation, drivers, and increase in market restraints.
Key Questions Answered in the Shale Gas Market Report are:
- What will be the CAGR of the Shale Gas market during the forecast period?
- Which segment emerged as the leading segment in the Shale Gas market?
- Which are the prominent players in the Shale Gas market?
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