San Francisco, 31 December 2018: The Report Shale Gas Market Trends, Analysis And Segment Forecasts To 2020
According to a report by Grand
View Research, Inc., the global shale gas market is anticipated to reach USD
67.02 billion by 2020. Depleting reserves of conventional sources of energy has
encouraged use of alternative energy options. This factor is anticipated to
propel market growth over the forecast period (2012 to 2020).
Shale gas is produced from
reservoirs having low matrix permeability. It is one of the major
unconventional gas being produced and explored. Supportive regulations
regarding production of unconventional gases like shale gas can stimulate
market growth. Availability of potential reservoirs of shale gas in Asia
Pacific is anticipated to propel market expansion in the forthcoming years. In addition,
growing environmental concerns regarding use of conventional energy to generate
power can also augment growth of market. Moreover, rising demand for
alternative fuels such as autogas Liquid Petroleum Gas (LPG) and Compressed Natural
Gas (CNG) can further impel market growth over the forecast period.
The global shale gas market
can be segregated on the basis of application and region. Based on application,
the market can be categorized into commercial, residential, industrial, power
generation, and transportation. In 2013, power generation segment dominated the
market and accounted for 30.4% market share in terms of volume. Growing
environmental concerns regarding use of conventional energy to generate power
can augment growth of segment. In addition, supportive regulations regarding non-traditional
energy forms to generate power can stimulate segment’s growth in the
forthcoming years.
Access Research Report of Shale Gas Market@ www.grandviewresearch.com/industry-analysis/shale-gas-industry
Industrial segment is expected
to account for 29.6% of global market share in terms of volume. Transportation
segment is likely to expand at a CAGR of 10.8% from 2014 to 2020. Rising demand
for alternative fuels can positively influence growth. Moreover, commercial segment
is estimated to account for market share equivalent to USD 9.19 billion by 2020.
The segment is likely to register a CAGR of 5.3% from 2014 to 2020.
Regional segmentation includes
North America and Asia Pacific. In 2013, United States dominated the market and
accounted for 91.8% market share in terms of volume. Most of the shale gas is
produced in two major countries of the region, Canada and United States (U.S.).
Till 2012, both the countries collectively produced shale gas to maximum
volume. Earlier, U.S. was importing natural gas for domestic and industrial
purposes. Once the country started producing shale gas own their own, it
started exporting natural gas. In 2013, Canada followed US in terms of market
share and accounted for 8.2% of overall share gas produced.
Browse more reports of this category by
Grand View Research at: www.grandviewresearch.com/industry/conventional-energy
Asia Pacific is projected to
grow fast during the forecast period. It is likely to witness CAGR of 66.7%
from 2015 to 2020. China is expected to offer huge market potential attributed
to presence of most recoverable shale gas reservoirs. Increasing investments
from Chinese and foreign companies to produce and explore shale gas in the
country can augment regional growth. In 2012, China reported about 30 million
cubic feet of shale output. In 2013, the volume increased by six times to 200
million cubic feet. Supportive initiatives by Chinese government in terms of
tax benefits and financial incentives to companies producing shale gas can
stimulate market growth. Increasing number of foreign investors forming mergers
and joint ventures with Asian companies attributed to possibility of synergic
benefits and potential reserves can also influence regional growth.
Some of the leading companies
operating in the shale gas market are Antero Resources, Anadarko Petroleum
Corporation, Cabot Oil & Gas, BHP Billiton, and Chesapeake Energy
Corporation. The market is predicted to be highly competitive in nature and lead
by top multinational companies dealing in oil and gas. Traditional oil and gas
companies and new companies focus on alternative forms of energy are
collectively forming this market. Increasing focus towards shale gas basins in
China is predicted to be main strategy of market players.
Access
Press Release of Shale Gas Market@ 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.
For More Information: www.grandviewresearch.com
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