The global market for shale gas is expected to reach USD 67.02 billion
by 2020, according to a new study by Grand View Research, Inc. Depleting
conventional energy reserves across the globe has prompted the industry to
shift focus towards developing alternative energy sources which is expected to
remain a key driving factor for shale gas demand over the next six years. In
addition, regulatory support for developing unconventional gases including
shale gas is also expected to enhance commercialization over the forecast
period. However, environmental concern, especially excessive usage and
contamination of water during shale gas production process is expected to be a
key challenge for industry participants over the next six years.
Power generation emerged as the leading application market for
shale gas and accounted for 30.4% of total market volume in 2013. Environmental
concerns regarding power generation via conventional energy coupled with
regulatory support for development of unconventional energy sourcesfor power
generation is expected to remain a key driving factor over the forecast period.
However,
transportation is expected to be the fastest growing application
market for shale gas at an estimated CAGR of 10.8% from 2014 to 2020. Growing
demand for alternative fuels such as compressed natural gas (CNG) and autogas
(LPG) is expected to drive the demand for shale gas in transportation industry
over the next six years.
Browse full research report on Global shale gas market: http://www.grandviewresearch.com/industry-analysis/shale-gas-industry
Further Key findings from the study suggest:
- The
global shale gas production was 10,826.6 bcf in 2013 and is expected to
reach 18,211.3 bcf by 2020, growing at a CAGR of 8.3% from 2014 to 2020.
- U.S
emerged as the leading shale gas producing country and accounted for 91.8%
of total market volume in 2013. The U.S. shale boom has changed the
overall energy scenario of the nation, prior to shale gas development; the
U.S. was a net importer of natural gas. However, due to rapid exploration
and production activities of shale gas, U.S. for the first time in many
years emerged as a net exporter of natural gas in 2012. However, Asia
Pacific is expected to be the fastest growing producer for shale gas at an
estimated CAGR of 66.7% from 2015 to 2020. The Chinese government has also
been providing substantial support in form of financial incentives and tax
benefits to companies operating in shale gas market in China which is
expected to drive the market over the forecast period.
- The
global market for shale gas is highly competitive in nature and is led by
top multinational oil & gas conglomerates which are present across the
value chain. Conventional oil & gas companies coupled with companies
focusing only on alternative energy forms the mix of the market. Shift in
focus towards developing shale gas basins in China is expected to remain a
key strategy for the market participants. Some of the leading companies in
the global shale gas market include Anadarko Petroleum Corporation, Antero
Resources, BHP Billiton, Cabot Oil & Gas, Chesapeake Energy
Corporation, Devon Energy, Encana Corporation, Exxon Mobil Corporation,
Reliance Industries Limited, Royal Dutch Shell, SM Energy, Statoil,
Talisman Energy Inc. and Total SA among some other companies.
Browse more reports of this category by Grand View
Research:http://www.grandviewresearch.com/industry/conventional-energy
For the purpose of this study, Grand View Research has
segmented the global shale gas market on the basis of application and region:
• Global Shale Gas Application Outlook (Volume, Bcf;
Revenue, USD billion)
• Industrial
• Power Generation
• Residential
• Commercial
• Transportation
• Shale Gas Regional Outlook
• North America
• U.S.
• Canada
• Asia Pacific
• U.S.
• Canada
• Asia Pacific
Access press release of this research report by Grand
View Research: http://www.grandviewresearch.com/press-release/global-shale-gas-market
About Grand View Research
Grand View Research, Inc. is a U.S. based market research
and consulting company, registered in the State of California and headquartered
in San Francisco. The company provides syndicated research reports,
customized research reports, and consulting services. To help clients make
informed business decisions, we offer market intelligence studies ensuring
relevant and fact-based research across a range of industries, from technology
to chemicals, materials and healthcare.
Contact:
Sherry James
Corporate Sales Specialist, USA
Grand View Research, Inc
For more information:
www.grandviewresearch.com
