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Shale Gas Market Is Poised To Growth At An Impressive CAGR Of 8.5% By 2027: Grand View Research Inc.

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Shale Gas Market Is Poised To Growth At An Impressive CAGR Of 8.5% By 2027: Grand View Research Inc.

January 11
12:31 2021
Shale Gas Market Is Poised To Growth At An Impressive CAGR Of 8.5% By 2027: Grand View Research Inc.

Grand View Research, Inc. – Market Research And Consulting.
According to a recent report published by Grand View Research Inc., a strategic shift towards natural gas usage to reduce the carbon footprint and growing investment in infrastructure & technological advancements is likely to accelerate the market expansion.

The global shale gas market size is expected to reach 131.1 billion by 2027, registering a CAGR of 8.5%, as per a new report by Grand View Research Inc. Shale gas is a form of natural gas trapped in shale formations and is extracted using multistage horizontal drilling and hydraulic fracturing. The production of shale gas is highly profitable owing to its booming demand across the automotive industry. Its properties make it a very useful & flexible fuel and eliminate the need for high-end delivery infrastructures. It has found widespread application in the industrial thermal and power generation sectors. 

Shale gas is considered a substantial energy source and is widely used in electricity generation. For companies subject to excessive greenhouse gas emission minimizing targets, shale gas usage offers more “tick-the-box” benefits than conventional fossil fuel sources. The market is expected to grow over the next few decades in response to the environmental and economic limits of coal generation, at least where natural gas is a viable alternative. Demand from power generation and industrial end-use segments is expected to drive the market over the forecast period.

The shale gas supply chain includes production and processing, gas transmission and storage, and distribution to city gates, residential customers, large volume customers, and commercial customers.  Prominent technological advancements including the development of horizontal drilling techniques and hydraulic fracturing technology, which is expected to boost the economic production of shale gas. Furthermore, increasing awareness regarding the use of eco-friendly products and favorable regulations will strengthen the upstream segment of the supply chain. 

U.S. shale gas market size, by application, 2016 - 2027 (USD Billion)

Shale Gas Market Report Highlights

  1. The onset of COVID-19 pandemic diverged the supply and demand for the oil & gas industry in March 2020, along with several national lockdowns drastically slumped petroleum demand. The Organization of the Petroleum Exporting Countries’ (OPEC) is striving to stabilize the supply chain and develop stronger prospects in balancing oil trades 

  2. The power generation segment held the largest revenue share of 36.0% in 2019. This is attributed to the increasing adoption of shale gas in power plants and its cleaner combustion quality in comparison to other fossil fuels

  3. The transportation sector is projected to register a staggering CAGR due to the increasing number of Compressed Natural Gas (CNG) fueled vehicles within the automotive industry

  4. In terms of revenue, North America dominated the market, accounting for the highest revenue share in 2019. The U.S is the world’s largest shale gas producer and has made strides in the development of advanced drilling technologies approved by the Ground Water Protection Council and the US Environmental Protection Agency (EPA) 

  5. 2020 marked 15 years of the “energy independence” of the U.S. shale gas market and despite the sunken demand and prices, the market will rebound owing to pipeline expansion in the country

Shale gas giants have entered into strategic alliances to enhance product innovation capabilities and stay ahead of the market competition

“Would you Like/Try a Sample Report” Click the link below:https://www.grandviewresearch.com/industry-analysis/shale-gas-industry/request/rs1

Shale Gas Market Segmentation

Grand View Research has segmented the global shale gas market on basis of application and region:

Shale Gas Application Outlook (Volume, Bcf; Revenue, USD Billion, 2016 – 2027)

  • Industrial

  • Power Generation

  • Residential

  • Commercial

  • Transportation

Shale Gas Regional Outlook (Volume, Bcf; Revenue, USD Billion, 2016 – 2027)

  • North America

    • U.S.

    • Canada

    • Mexico

  • ROW

    • China

    • Argentina

    • Algeria

    • South Africa

List of Key Players of Shale Gas Market

  • Royal Dutch Shell PLC

  • ConocoPhillips

  • PetroChina Company Limited

  • Exxon Mobil Corporation

  • Chevron Corporation

  • Chesapeake Energy Corporation.

Have Any Query? Ask Our Experts for More Details on Report:https://www.grandviewresearch.com/inquiry/43/ibb

Browse Related Reports @

Steam Turbine Market: https://www.grandviewresearch.com/industry-analysis/steam-turbine-market

LPG Market: https://www.grandviewresearch.com/industry-analysis/liquefied-petroleum-gas-industry

About Grand View Research

Grand View Research is a market research and consulting company that offers market research reports, syndicated and customized reports. The company is headquartered in San Francisco, California. It offers client engagement for business consulting and market intelligence from various domains. The clientele is based across various countries with queries coming from more than 50 industries worldwide. 

Grand View Research helps its clients to make informed decisions by helping them understand current trends and scenarios. Every year Grand View Research accomplishes more than 300 multi-country market studies to optimize consulting for clients.

 

Media Contact
Company Name: Grand View Research, Inc.
Contact Person: Sherry James, Corporate Sales Specialist – U.S.A.
Email: Send Email
Phone: 1-415-349-0058, Toll Free: 1-888-202-9519
Address:201, Spear Street, 1100
City: San Francisco
State: California
Country: United States
Website: https://www.grandviewresearch.com/industry-analysis/shale-gas-industry