Global Shale
Gas Market study is providing
you with the up-to-date, actionable market information and projections with the
latest impact of the Covid 19 outbreak. It offers all the requisite data to
support tactical business decisions and come up with strategic growth plans.
This study also proposes a comprehensive insight into the development policies
and plans in addition to manufacturing processes and cost structures.
Market Insight:
The increasing need for
energy and diminishing conventional gas reserves, the demand for unconventional
sources such as CBM, shale gas, gas hydrates and tight gas has experienced a
significant leap in the past decade. Shale gas is the form of natural gas
derived from underground shale deposits through hydraulic fracturing and
horizontal drilling.
Shale gas is one of the
popular conventional energy sources as it emits less carbon compared to other
fossil fuels such as coal and hence is expected to become the major fuel
replacing coal and other fossil fuels provided its production increases in the
near future.
Regarding end-users, shale
gas market is segmented into industrial, commercial, power generation,
transportation, and residential. Owing to its low price compared to other
fossil fuels, the market is anticipated to replace conventional sources such as
coal, nuclear and hydro especially in chemical, fertilizer and hydrogel
production industries.
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Global conventional energy
reserves are not able to fulfill the demand owing to developing per capita
consumption of energy in developing countries majorly in Asia-Pacific. Till
now, shale gas production is limited to North America such as Canada and U.S.
In Asia Pacific region production started in 2015 as large shale gas reserves
have been discovered. Foreign investors also have recently ventured the market
along with entering into various mergers and acquisitions with companies to
utilize the potential in this region.
The key factors driving the
market are anticipated to be the abundance of shale gas globally however yet
not matured reserves in several locations such as India and Indonesia, improved
supply and distribution network, enhanced drilling technology and decline in
prices of conventional energy sources.
However, the involvement of
higher capital investment for shale gas exploration and production, and other
issues such as water contamination on hydraulic fracturing are expected to
restrain the industry growth over the forecast period. Also, other
environmental issues such as methane release owing to hydraulic drilling and
public opposition have hindered the market mostly in the European countries
such as Poland and France.
Also, various energy and
government agencies globally have initiated many programs for developing and
producing shale gas. Some of these agencies are Energy Information
Administration (EIA) U.S., Gas Shale in Europe (GASH), German Research Centre
for Geosciences (GFZ). Recently, countries such as China, Poland, Jordan and
India have participated in the initiative program.
Application Insights:
Industrial, residential,
commercial, transportation and power generation are the key application
sectors. In 2013, power generation was the major application segment accounted
for more than 30% of total volume of shale gas produced. The main factors
driving product demand in this segment is the abundance and low carbon
footprint of shale gas over coal and crude oil.
Environmental concerns and
regulatory support for the use of conventional sources of energy is yet another
factor to drive shale gas demand in this power generation industry. Industries
in Canada and U.S. are slowly shifting their focus towards the utilization of
shale gas replacing the conventional gases. Growing demand against LPG and CNG
as the alternative transportation fuel is another important reason responsible
for its increase in consumption in the past few years and this trend is
expected to continue over the forecast period. This will develop transportation
to be the fastest growing application with a projected at a CAGR of 10.8% from
2014 to 2020.
The commercial application
of the market is also expected to grow at CAGR of around 5.3% from 2014 to 2020
to reach approximately USD 10 billion by 2020.
Regional Insights:
In the present industry
scenario, Canada and U.S. are the major producers of shale gas. These two
countries produced almost 92% of the total volume in 2013. Earlier to shale
gas, U.S. was the largest importer of natural gas. Later on, owing to rapid
production and exploration activities, U.S. emerged as the major exporter for
the market followed by Canada estimated over 8.2% of the gas extracted in 2013.
China accounted 30 million
cbf output by 2012 and increased its production to 200 million cbf till 2013.
As per estimates, China has a huge amount of shale gas reservoirs and discovers
great market potential. The Chinese government is also supporting tax leverage
and financial benefits to the shale gas companies.
APAC is anticipated to be
the emerging market with a CAGR of over 66% from 2015 to 2020. Europe in more
than 14 countries including Germany, Poland and France is also is also
anticipated to increase production of shale gas over the forecast period owing
to the abundant availability of reserves which are in the initial maturity
stage.
Competitive Insights:
Global shale market is
being dominated by top gas & oil producing multinationals spread through
the value chain creating the market highly competitive. Key market players have
already entered into various acquisitions, collaborations, joint ventures and
partnerships to sustain the competitive market.
Some of the market leaders
are Anadarko Petroleum Corporation, BHP Billiton, Exxon Mobil Corporation,
Royal Dutch Shell, Reliance Industries Limited, Cabot Oil & Gas, SM Energy,
and Talisman Energy Inc. among some other companies.
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