+1 915 229 3004 (U.S.) | 
+44 7452 242832 (U.K.)
+1 915 229 3004 (U.S.) | +44 7452 242832 (U.K.)
Global Shale Gas Market Size was valued at USD 57.9 Billion in 2022. The Shale Gas market industry is projected to grow from USD 61.4 Billion in 2023 to USD 96.9 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 5.80% during the forecast period (2023 - 2032). an increase in energy demand, a decline in traditional gas supply, an increase in oil use, and an expansion of oil-dependent industries, are the key market drivers enhancing the market growth.
Download Free Sample to learn more about this report
Source: Secondary Research, Primary Research, RESEARCH LAYER Database and Analyst Review
Because of the increase in energy demand and the depletion of conventional gas reserves, there has been a shift to unconventional natural gas sources such shale gas, tight gas, and coal bed methane. It is projected that more technological advancements in shale drilling will accelerate market expansion. Hydraulic fracturing in conjunction with other drilling techniques like directional drilling and horizontal drilling can be used to extract commercial quantities of shale gas that are trapped deep inside the shale source rock. The market is anticipated to grow rapidly because the United States has significant shale gas resources. New reserves were discovered, which increased shale production. According to the International Energy Association, the United States produced 25.3 trillion cubic feet of dry shale gas in 2019, up from 22.1 trillion cubic feet in 2018.
Shale gas extraction uses a lot of water and generates dangerous pollutants. As a result, environmental concerns have grown, and activists have become more outspoken in their criticism, which is expected to hinder industrial growth. It is projected that technological advancements in deep-water and ultra-deepwater unconventional gas drilling would provide the essential boost to market demand. The market supply chain includes the production, processing, transportation, storage, and distribution of gas to industrial, commercial, and residential customers. However, the COVID-19 outbreak has had a large detrimental impact on the upstream, midstream, and downstream parts of the shale gas supply chain, resulting in a significant supply and demand imbalance.
Methane gas emissions from drilling could harm the environment by producing air pollution. Furthermore, it's possible that incorrect surface water contamination could result from the wrong disposal of the massive quantities of chemically treated water utilized in hydraulic fracturing operations. This has been attacked by environmental NGOs and groups from all over the world. Because of hydraulic fracturing's negative effects on agriculture and public health, local farmers and residents have regularly criticized it. The water supply is put under more stress during fracking operations because a typical fracking well needs between 2 and 10 million gallons of water. This is especially true in locations that are prone to drought. Thus, driving the Shale Gas market revenue.
The global Shale Gas market segmentation, based on Technology, includes horizontal fracking, vertical fracking, and rotary fracking. The market segment for vertical fracking had the largest proportion in 2022. This is because it outperforms other fuel types in terms of affordability and low carbon breakdown.
The global Shale Gas market segmentation, based on End User, includes residential, commercial, industrial, power generation, and transportation. The power generation sector accounted for the largest market share in 2022. The expanding trend of power plants switching from coal to gas is expected to have a positive effect on market expansion. Governments seek to increase the country's reliance on shale gas in the energy mix. The majority of demand in international markets is driven by electricity generation since it burns more cleanly than other fossil fuels.
Download Free Sample to learn more about this report
Source: Secondary Research, Primary Research, RESEARCH LAYER Database and Analyst Review
Insights into the markets in North America, Europe, Asia-Pacific, and the rest of the world are provided by the study. The North America Shale Gas Market dominated this market in 2022 (45.80%). The U.S. is the main driver of regional growth as a result of the utilization of horizontal drilling and hydraulic fracturing to extract ultra-hard shale from deep subsurface reserves dispersed across the country. According to the International Trade Center, the United States topped the list of gas producers globally in 2018 as a result of increasing exploration and production. The United States was a net importer of natural gas before shale gas emerged; now it is an exporter. Due to its proven ability to lower carbon footprint, major U.S. players are investing heavily in unconventional development. Further, In the North American area, the U.S. Shale Gas market had the biggest market share, while the Canada Shale Gas market had the quickest rate of expansion.
Further, the major countries studied in the market report are The US, Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.
Download Free Sample to learn more about this report
Source: Secondary Research, Primary Research, RESEARCH LAYER Database and Analyst Review
Europe Shale Gas market accounts for the significant market share. Large reserves, new end-users of hydraulic fracturing technology, horizontal drilling, and the discovery of new shale gas sources are only a few of the reasons for this. Further, In the European region, the German Shale Gas market had the biggest market share, and the U.K. Shale Gas market had the quickest rate of growth.
The Asia Pacific Shale Gas market is expected to register the fastest growth from 2023 to 2032. The world's most technically recoverable resources are supposedly found in China. The Chinese government has set lofty output targets. These established targets, which attract sizeable investments from all over the world, provide substantial market participants with a lucrative opportunity to explore and produce unconventional gas in the country. Moreover, In the Asia-Pacific region, the Indian Shale Gas market had the quickest rate of growth while China's Shale Gas market had the greatest market share.
Leading industry companies are making significant R&D investments in order to diversify their product offerings, which will drive the Shale Gas market's expansion. Important market developments include new product releases, contractual agreements, mergers and acquisitions, greater investments, and collaboration with other organizations. Market participants are also engaging in a number of strategic actions to increase their global footprint. The Shale Gas sector needs to provide affordable products if it wants to grow and thrive in a more competitive and challenging market environment.
One of the primary business strategies employed by manufacturers in the worldwide Shale Gas industry to assist customers and expand the market sector is local manufacturing to reduce operational costs. Some of the biggest benefits to medicine have recently come from the Shale Gas sector. Major players in the Shale Gas market, including 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, are attempting to increase market demand by investing in research and development operations.
Energy company Statoil ASA, now Equinor ASA (Equinor). It is sought after, developed, and produced to make hydrocarbons. It also operates refineries, processing plants, storage facilities, and ports, as well as holdings in various oil and gas pipelines. The company buys, sells, and transports refined products as well as crude oil, condensate, and natural gas liquids. It is also present in projects involving solar farms, offshore wind, carbon capture and storage, and hydrogen, with a concentration on renewable energy and low-carbon solutions. On the Norwegian continental shelf, Equinor conducts significant operations. It operates throughout Europe, North and South America, Africa, and the Asia-Pacific region. Equinor's corporate headquarters are in Stavanger, Norway. Beginning in March 2023, a USD 30 billion LNG facility in Tanzania that will be built by Tanzania, Equinor of Norway, and Shell of the United Kingdom. The current topic of conversation is the contract.
Royal Dutch Shell Plc was the previous name of an integrated oil and gas company called Shell plc (commonly referred to as Shell). The corporation searches for and extracts oil and gas from conventional fields and sources, such as tight rock, shale, and coal formations. It manages refinery and petrochemical facilities all around the world. Shell's product line includes lubricants, bitumen, liquefied petroleum gas, and petrochemical goods such raw materials for plastics, paints, and detergents. The company is a big producer of biofuel in Brazil. Additionally, it has investments in several LNG and gas to liquids (GTL) projects. The firm offers its products both directly and indirectly through distributors in Europe, Asia, Oceania, Africa, North America, and South America. Shell is based in London, the nation's capital. The state-owned natural gas processing and distribution company GAIL (India) Ltd. and Royal Dutch Shell Plc signed a memorandum of understanding (MoU) in March 2023 to explore the viability of importing ethane from the United States for the Indian market.
· Southwestern Energy Company
· EQT Corporation
· Equinor ASA
· Repsol SA
· SINOPEC/Shs
· Chesapeake Energy Corporation
· Royal Dutch Shell PLC
· Exxon Mobil Corporation
· Chevron Corporation
· PETROCHINA/Shs
December 2022: China's Fuling shale gas deposit has produced more than 53 billion cubic meters of shale gas since it was found in 2012. The 897.5 billion cubic meters (bcm) of confirmed reserves in the shale gas field represent a staggering 34% of the country's proved reserves. Additionally, from 142 million cubic meters in 2013 to more than 8.5 billion cubic meters in 2021, the annual output from the shale gas resource.
· Horizontal Fracking
· Vertical Fracking
· Rotary Fracking
· Residential
· Commercial
· Industrial
· Power generation
· Transportation
· North America
- US
- Canada
· Europe
- Germany
- France
- UK
- Italy
- Spain
- Rest of Europe
· Asia-Pacific
- China
- Japan
- India
- Australia
- South Korea
- Australia
- Rest of Asia-Pacific
· Rest of the World
- Middle East
- Africa
- Latin America
|
Report Attribute/Metric |
Details |
|
Market Size 2022 |
USD 57.9 Billion |
|
Market Size 2023 |
USD 61.4 Billion |
|
Market Size 2032 |
USD 96.9 Billion |
|
Compound Annual Growth Rate (CAGR) |
5.80% (2023-2032) |
|
Base Year |
2022 |
|
Market Forecast Period |
2023-2032 |
|
Historical Data |
2018- 2022 |
|
Market Forecast Units |
Value (USD Billion) |
|
Report Coverage |
Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends |
|
Segments Covered |
Technology, End User, and Region |
|
Geographies Covered |
North America, Europe, Asia Pacific, and the Rest of the World |
|
Countries Covered |
The US, Canada, German, France, UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil |
|
Key Companies Profiled |
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 |
|
Key Market Opportunities |
Technological advancements |
|
Key Market Dynamics |
Rising energy demand along with depleting conventional gas reserves and increase in oil consumption and the rising growth in oil-dependent industries |
The global Shale Gas Market was valued at USD 57.9 billion in 2022, and it is estimated to reach USD 96.9 billion by 2032.
The global market is projected to grow at a CAGR of 5.80% during the forecast period, 2023-2032.
North America had the largest share in the global market
The key players in the market are 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 Vertical Fracking Technology dominated the market in 2022.
The Power Generation End User had the largest share in the global market.
Research on the market is done by industry professionals who provide personalized insights on the industry structure, market segmentation, Type assessment, competitive landscape (CL), along with penetration, and emerging trends. In addition to years of professional experience in their various fields and sectors, their analysis is largely based on primary interview (60%) and secondary research (40%) as well as years of professional experience. In addition, our researchers forecast the market's direction over the following seven years by examining past trends and the market's current position. Additionally, various trends of segments and categories that are geographically portrayed are studied and estimated using primary and secondary research.
The key level executives (VP, CEO, Marketing Directors, and Business Development Managers) of the major industry participants who are active and prominent as well as mid-scale businesses operating in this market were interviewed in-depth for this supply-side report by overall Global Market Research.
Extensive primary research was conducted to gain a deeper grasp of the market and industry. Both primary and secondary research, as well as years of pertinent professional experience, are used to support the analysis. By analyzing past and present market patterns, our experts were able to forecast the market's course over the following seven years. For the geographically offered categories in the list of market tables, it differs per category. In connection with the Global Market research report, we also conducted a number of primary interviews with senior level executives (VP, CEO's, Directors, Marketing Directors, Business Development Managers, CFOs, Technical Consultants, Key Opinion Leaders, Industry Experts, Decision Matrix Authorities, and other crucial individuals) of the key industry players who dominated the Global market.
The primary purpose of secondary research was to gather, identify, and validate the information necessary for the thorough, technical, market-focused, and commercial analysis of the global market. With the use of this study, it was also possible to classify and segment the market in accordance with market trends, geographic markets, and regional considerations linked to market type. Analysts have gathered data in the Distribution Channel for the study of the market from reliable sources including annual reports, journals, white papers, corporate presentations, company websites, international organizations of Energy and Power manufacturers, credible paid databases, and many others to gather reliable intel.
Both top-down and bottom-up methodologies were employed to assess the accuracy of the global market size. The market for as a whole was estimated using these methods for a number of different dependent submarkets. Secondary research was used to address the major industry players, and primary and secondary research was used to calculate their market shares in the various regions. This complete intellectual process includes reading the annual and financial reports of the top market participants and conducting in-depth interviews with top industry executives (VP, CEO, Marketing Directors, and Business Development Managers) to gain important industry insights.
Through reliable secondary sources and validated primary sources, the classification of the global markets and their geographic percentage splits were established. To obtain the final qualitative and quantitative data, all relevant variables that might have an impact on the market under investigation have been taken into consideration, inspected in great depth, verified through primary research, and assessed. This information was collected, added to, and thoroughly examined by professional analysts before being provided in this report. The process used to estimate the overall market size for this study is depicted in the following image as an example.
Report Code :
RL65193
Published on :
Sep 2023
Request a Free Sample Report
Speak to Analyst