Reducing Reliance On Conventional Natural Gas Will Play Major Role In Development Of Shale Gas Market by nareshpatil · January 4 Zach Ertz Shirt , 2019
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.
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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 Dallas Goedert Shirt , residential, industrial, power generation, and transportation. In 2013 Carson Wentz Shirt , 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 growth in the forthcoming years.
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 Clayton Thorson Shirt , 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 Shareef Miller Shirt , Canada followed US in terms of market share and accounted for 8.2% of overall share gas produced.
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 JJ Arcega-Whiteside Shirt , 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.
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Grand View Research has segmented the global shale gas market on the basis of application and region:
Global Shale Gas Application Outlook (Volume, Bcf; Revenue Miles Sanders Shirt , USD billion)
Industrial Power Generation Residential Commercial Transportation
Shale Gas Regional Outlook
North America US. Canada Asia Pacific
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