Home Press Releases Shale Gas Market to Grow at 7.9% CAGR Driven by Availability of Untapped Reserves
Shale Gas Market to Grow at 7.9% CAGR Driven by Availability of Untapped Reserves
Posted on Aug 3, 2015
The increasing need to reduce the dependency on conventional sources of energy is driving the global shale gas market, states Transparency Market Research in a recently published research report. The study is titled “Global Shale Gas Market - Industry Analysis, Size, Share, Growth, Trends and Forecast 2013 - 2019” and is available for sale on the company website. According to the report, the global shale gas market is likely to grow at a 7.9% CAGR from 2013 to 2019. The shale gas production is projected to rise from 10,138.2 (billion cubic feet) Bcf in 2012 to 17,201.6 Bcf in 2019, driven by growing foreign investments and regulatory support.Shale gas – by way of hydraulic fracturing, horizontal drilling, and water usage – finds application in industries such as power generation, residential, industrial, commercial, and transportation. In 2012, the industrial segment held a share of more than 30%, making it the largest shale gas application. By 2019, market experts predict this segment will account for nearly 35% of the overall market. While power generation also held a major share of the shale gas market in 2012, this segment is estimated to lose market share by the end of the forecast period. Commercial and residential usage of shale gas, on the other hand, is expected to rise by 2019.
Based on regional distribution, the research report studies two regional shale gas markets – North America and Asia Pacific. In 2012, North America was the only region known to be producing shale gas, with Canada and the U.S. the only two countries catering to commercial shale gas production demand three years ago. The shale gas reserves in the rest of the world have remained intact, holding immense potential to meet energy demand in the future. The U.S. Energy Information Administration (EIA) estimates a total of 7,299.0 (trillion cubic feet) tcf technically recoverable shale gas reserves globally. China is known to have the largest shale reserves at the time. Even though the region is still not a fully developed market, industry experts believe that it is likely to become one of the most rapidly developing shale gas markets by the end of the forecast period. The development of shale gas in Europe, on the other hand, is expected to be rather slow through 2019 owing to public opposition and environmental issues.
The global shale gas market has become immensely competitive owing to escalating demand for energy and huge potential for growth for new and emerging players. Some of the older players operating in shale gas market are Total SA, Chesapeake Energy Corporation, Anadarko Petroleum Corporation, Cabot Oil and Gas, ConocoPhillips, Statoil ASA, BHP Billiton Limited, Royal Dutch Shell plc, ExxonMobil, EOG Resources Inc., and BP plc. These players have been profiled in the research report on the basis of attributes such as company and financial overview, recent developments, business strategies, strengths, weaknesses, opportunities, and threats.
Browse the full Global Shale Gas Market - Industry Analysis, Size, Share, Growth, Trends and Forecast 2013 - 2019 report at http://www.transparencymarketresearch.com/shale-gas.html
Shale Gas Market: Technology Analysis
- Horizontal Drilling
- Hydraulic Fracturing
- Water Usage Issue
Shale Gas Market: Application Analysis
- Power Generation
Shale Gas Market: Regional Analysis
- North America
- Asia Pacific
Transparency Market Research (TMR) is a global market intelligence company providing business information reports and services. The company’s exclusive blend of quantitative forecasting and trend analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.
TMR’s data repository is continuously updated and revised by a team of research experts so that it always reflects the latest trends and information. With extensive research and analysis capabilities, Transparency Market Research employs rigorous primary and secondary research techniques to develop distinctive data sets and research material for business reports.
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