Home Press Releases Shale Gas Market is expected to Reach 17,201.6 Bcf Globally by 2019
Shale Gas Market is expected to Reach 17,201.6 Bcf Globally by 2019
Posted on Jun 27, 2014
Transparency Market Research published a new report titled as “Shale Gas Market: Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2013 - 2019," which stated that the global shale gas production was 10,138.2 Bcf in 2012 and is expected to reach 17,201.6 Bcf by 2019, growing at a CAGR of 7.9% from 2013 to 2019.
Browse: Global Shale Gas Market
Shale gas is a type of unconventional gas that is trapped within organic-rich shale formations. It is extracted through a combination of hydraulic fracturing and horizontal drilling techniques that allows a large volume of shale gas to be produced. The global demand for shale gas is constantly increasing due to the rising depleting energy reserves all over the world. The world’s focus is now on unconventional sources of energy that are cost-effective and more on the natural side. Shale gas is the best illustration in this revolution.
The wide economical production of shale gas has bolstered immense growth in the natural gas industry in the U.S. Currently, the U.S. dominates the shale gas market in terms of production, as well as revenue, but contamination of surface water and cost of production are expected to hinder the growth in this market in the near future. Shale gas in the U.S. accounts for 36 percent of total natural gas production in the country.
The market study in this report focuses on estimates and forecasts of the global shale gas market in terms of volume (Bcf) and revenue (USD billion) from 2013 to 2019. The report analyzes value chain components at each stage and discusses the major driving and restraining factors for the shale gas market and emerging opportunities in the near future.
The shale gas market in the U.S. is segmented into five sectors based on end-user: Power Generation Sector, Industrial Sector, Residential Sector, Commercial Sector, and Transportation Sector. The progressive growth of shale gas in North America has motivated other countries such as China to invest in this industry. Also, abundant availability of technically recoverable reserves and rapid development of shale gas seen in North America is turning out to be extremely advantageous for petrochemical producers in the country. This aspect helps them to bring down their raw material and energy costs reducing reliance on natural resources.
Similar to conventional natural gas usage, shale gas is also used in various applications such as industrial, power generation, commercial, residential, and transportation. Such a pressing demand for shale gas from all the above applications and places in the world drives the production of shale to achieve higher growth in the global market. Another significant factor that primarily drives the growth of shale gas is the focus on decreasing the dependability on conventional gas sources. Over the years, there have been high investments made by Asian companies and collaborations with foreign players in the field of shale that have propelled high growth in this market.
Browse the full Global Shale Gas Market report at http://www.transparencymarketresearch.com/shale-gas.html
Under this market segment, the unconventional gas accounted for 44% of the total technically recoverable gas until 2012, whereas shale gas represented two-third of the unconventional sources. Nevertheless, there is still a large chunk of the world’s technically recoverable unconventional gas zone remaining to be discovered in places like the U.S. and China. While, the two major countries such as the Eastern Europe and Eurasia accounted for over 60% of conventional gas resources and nearly 16.5% was accounted for the unconventional gas sources, the shale gas market has experienced a few technological advancements in this process. For instance, hydraulic fracturing and soaring gas prices have enhanced the growth of unconventional gases in North America. Based on this, there is a global energy supply shift to be expected in the near future. A few countries such as Algeria, Mexico, and Argentina also hold large shale gas potential.
Transparency Market Research is a global market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. We are privileged with highly experienced team of Analysts, Researchers, and Consultants, who use proprietary data sources and various tools and techniques to gather, and analyze information.
Our data repository is continuously updated and revised by a team of research experts, so that it always reflects the latest trends and information. With a broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in developing distinctive data sets and research material for business reports.
90 Sate Street, Suite 700
Albany, NY 12207
USA - Canada Toll Free: 866-552-3453
Share This Article!
- Off-Grid Remote Sensing Power System Market - Global Industry Analysis, Size, Share, Trends, Analysis, Growth and Forecast, 2014 - 2020
- Off grid remote sensing power systems are in demand from various industries such as oil and gas, wind energy, etc. The developing oil and gas industry and wind energy industry infrastructure is proving to be a boon for the off grid remote sensing power system market. The market is expected to grow during the forecast period.Gas Cartridges Market - Global Industry Analysis, Size, Share, Trends, Analysis, Growth and Forecast, 2014 - 2020A gas cartridge is one of the most efficient ways of storing fuel. A rapidly increasing demand for portable fuel storage solutions globally can be considered as one of the major drivers of the gas cartridges market. Gas cartridges generally comprise a mixture of propane and butane contained under high pressures. These gas cartridges are generally made of metal for better storage functions. Some of the major...
- LNG as a Bunker Fuel Market - Global Industry Analysis, Size, Share, Trends, Analysis, Growth and Forecast 2014 - 2020The increasing demand for clean fuel sources in the marine industry has led to the growing demand of LNG for fuelling the shipping industry. The MARPOL convention is the major international body ensuring that the marine vessels do not emit polluting substances causing marine pollution. Conventional marine fuel, also known as bunker fuel is the heavy distillate product obtained after vacuum distillation process...