Market Research Future (MRFR) has published a cooked research report on the “Global Shale Gas Market” that contains information from 2023 to 2032. The Global Shale Gas Market is estimated to register a CAGR of 5.90% during the forecast period of 2023 to 2032.
MRFR recognizes the following companies as the key players in the Global Shale Gas Market— Southwestern Energy Company, EQT Corporation, Equinor ASA, Repsol SA, SINOPEC/Shs, Chesapeake Energy Corporation, Royal Dutch Shell PLC, Exxon Mobil Corporation, Chevron Corporation, and PetroChina/Shs.
The Global Shale Gas Market is accounted to register a CAGR of 5.90% during the forecast period and is estimated to reach USD 96.8 Billion by 2032.
Shale gas refers to natural gas that is trapped within shale rock formations deep beneath the Earth's surface. Shale is a sedimentary rock rich in organic materials, such as ancient plant and animal remains, which over time have undergone heat and pressure to form hydrocarbons, including natural gas. Extracting shale gas involves a process called hydraulic fracturing, or "fracking." This process entails drilling a well into the shale rock and injecting a mixture of water, sand, and chemicals at high pressure to create fractures in the rock. These fractures release the trapped natural gas, allowing it to flow to the well and be collected at the surface.
The Global Shale Gas Market has been segmented based on Technology and End Users.
Based on Technology, the market is segmented into Horizontal Fracking, Vertical Fracking, and Rotary Fracking. The dominance of the Horizontal Fracking category in the Shale Gas market is attributed to its efficient extraction of shale gas and higher yield compared to vertical drilling.
Based on End Users, the market is segmented into Residential, Commercial, Industrial, Power generation, and Transportation. The dominance of the Residential category in the Shale Gas market is driven by its widespread use for household cooking, heating, and water heating applications.
Browse In-depth Details [Table of Content, List of Figures, List of Tables] of Shale Gas Market Growth Analysis
The Global Shale Gas Market, based on region, has been divided into North America, Europe, Asia-Pacific, and Rest of the World. North America consists of US and Canada. The Europe Global Shale Gas Market comprises Germany, France, the UK, Italy, Spain, and the rest of Europe. The Global Shale Gas Market in Asia-Pacific has been segmented into China, India, Japan, Australia, South Korea, and the rest of Asia-Pacific. The Rest of the World's Global Shale Gas Market comprises of Middle East, Africa, and Latin America.
In 2022, the North America Shale Gas Market maintained its dominance with a commanding share of 45.80%. The U.S., fueled by the utilization of horizontal drilling and hydraulic fracturing methods to extract challenging shale deposits from deep underground reservoirs spread across the country, remains the primary driving force behind the region's growth.
The Europe Shale Gas market holds a significant market share, driven by ample reserves, the adoption of hydraulic fracturing technology by new end-users, horizontal drilling techniques, and the continual discovery of fresh shale gas sources. Moreover, within Europe, the German Shale Gas market commands the largest market share, while the U.K.'s Shale Gas market emerges as the most rapidly expanding market.
Anticipated to witness the swiftest growth between 2023 and 2032, the Asia Pacific Shale Gas market is on the brink of remarkable expansion. China stands out with the largest technically recoverable shale gas resources globally. Bolstered by ambitious production goals set by the Chinese government, the nation presents significant investment opportunities for major market players to explore and extract unconventional gas, attracting substantial global investments.
Key Findings of the Study