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.
View
summary of this report @ 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 All Reports of
this category @ 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
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, the
company offers market intelligence studies ensuring relevant and fact-based
research across a range of industries including technology, chemicals,
materials, healthcare and energy.
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View Research, Inc.
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