Overview and Scope
Shale gas is a natural gas trapped within the shales. Shales are fine-grained sedimentary rocks. Shale gases are used for generating electricity and domestic heating and cooking.
Sizing and Forecast
The shale gas market size has grown rapidly in recent years. It will grow from $77.04 billion in 2023 to $88.27 billion in 2024 at a compound annual growth rate (CAGR) of 14.6%. The growth in the historic period can be attributed to energy security concerns, economic benefits, policy and regulatory support, global energy demand.
The shale gas market size is expected to see rapid growth in the next few years. It will grow to $142.53 billion in 2028 at a compound annual growth rate (CAGR) of 12.7%. The growth in the forecast period can be attributed to increasing global energy consumption, environmental concerns, infrastructure development, market liberalization. Major trends in the forecast period include innovation and research, technological advancements, infrastructure investments, international collaboration.
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Segmentation & Regional Insights
The shale gas market covered in this report is segmented –
1) By Technology: Exploration & Drilling, Fracturing Fluid
2) By Application: Power Generation, Industrial, Residential, Commercial, Transportation
Asia-Pacific was the largest region in the shale gas market in 2023. North America was the second-largest region in the shale gas market. The regions covered in the shale gas market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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Major Driver Impacting Market Growth
The rapid pace of advancements in shale gas exploration and drilling technologies is boosting production volumes and reducing production costs and thereby contributing to the growth of the market. Technological advances are allowing companies to enhance shale gas recovery rates and considerably reduce production costs. For instance, 3D seismic technology is being used to optimize exploration and drilling processes to enhance natural gas production levels and cut down costs associated with exploration, drilling and refining. Other areas of rapid technological advances in the crude oil and gas market include hydraulic fracturing and horizontal drilling. Thus, advancements and innovations in exploration and drilling technologies are expected to drive the shale gas market.
Key Industry Players
Major companies operating in the shale gas market report are Royal Shell PLC, Exxon Mobil Corporation, PetroChina Company Limited, ConocoPhillips Company, Cabot Oil & Gas Corporation, Antero Resources Corporation, Anadarko Petroleum Corporation, Baker Hughes Incorporation, Equinor ASA, Repsol S. A., China Petroleum & Chemical Corporation (SINOPEC), Range Resources Corporation, Chevron Corporation, Pioneer Natural Resources Company, Reliance Industries Limited, SM Energy, Southwestern Energy, Chesapeake Energy Corporation, Marathon Oil Corporation, Continental Resources Inc., Noble Energy Inc., Encana Corporation, Apache Corporation, Gulfport Energy Corporation, Rice Energy Inc., Whiting Petroleum Corporation, Matador Resources Company, Qep Resources Inc., Devon energy Corporation, EOG Resources Inc.
The shale gas market report table of contents includes:
1. Executive Summary
2. Shale Gas Market Characteristics
3. Shale Gas Market Trends And Strategies
4. Shale Gas Market – Macro Economic Scenario
5. Global Shale Gas Market Size and Growth
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31. Global Shale Gas Market Competitive Benchmarking
32. Global Shale Gas Market Competitive Dashboard
33. Key Mergers And Acquisitions In The Shale Gas Market
34. Shale Gas Market Future Outlook and Potential Analysis
35. Appendix
Top Major Players:
Royal Shell PLC
Exxon Mobil Corporation
PetroChina Company Limited
ConocoPhillips Company
Cabot Oil & Gas Corporation
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