Shale Gas Market – Global Analysis and Overview and Forecast 2013 – 2019: Transparency Market Research – Press Release – Digital Journal

Global Shale Gas Market – Industry Analysis, Size, Share, Growth, Trends and Forecast 2013 – 2019

Albany, NY — (ReleaseWire) — 11/13/2014 — The world is witnessing a paradigm shift from conventional sources of energy to unconventional ones. The depleting reservoir of energy sources and their adverse impact on the environment have led to the increasing demand for shale gas.

Flourishing shale gas market in North America

North America is the leader of the global industry, with 36% of the total natural gas production in the U.S. accounted for by shale gas. The U.S. is the biggest regional segment in terms of production and revenue. As the applications of shale gas increase, so does its demand in the U.S. and Canada. Technological advancement coupled with increasing availability of technically recoverable reserves has fueled the market in the North American region. Moreover, escalating gas prices have forced industries to switch from conventional to unconventional energy resources such as shale gas. Petrochemical producers have also greatly benefitted from the development of shale gas. These factors have enabled North America to dominate the global market.

However, elevated cost of production and contamination of surface water is expected to stall the growth of the market.

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Mounting investments to propel shale gas market in Asia

Although North America predominates in the global shale gas market, Asia is a strong contender. A number of Asian shale gas companies have collaborated with large international industry leaders and investments by government and private organizations have also escalated in the field. Inspired by the success of North America, countries such as China have increased the import of technology as well as gas from the region, leading to wide-scale shale gas production in Asia. China has the largest shale gas reserves and ranks first followed by Argentina, Algeria and Mexico.

Europe too has the potential for considerable growth owing to its significant amount of shale gas reserves. However, due to public outcry and stringent regulations, the growth is expected to be slow. The region is yet to make an effective switch from conventional to unconventional gases. Even today, a whopping 60% of Eastern Europe and Eurasia is still using conventional gas resources.

Shale gas market – Segment analysis

The global market can be segmented on the basis of technology, application, and geography. The three primary technologies used for the production of shale gas are water usage issue, hydraulic fracturing, and horizontal drilling. There have been rising applications of shale gas in various areas such as commercial, power generation, transportation, industrial, and residential. The two key regions that fall under the global shale gas market are Asia-Pacific and North America.

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Industrial usage was the largest segment among applications of shale gas, accounting for 30% of the total production. This number is set to increase to 33%-35% by 2019. Use of shale gas in power generation was next, with residential usage following suit. Applications in the commercial and transport sector are set to rise in coming years due to soaring fuel prices.

Market competition

The global shale gas market is a highly competitive market with many small and large companies operating within the industry. Some of the leading shale gas market players are Southwestern Energy Company, Chesapeake Energy Corporation, Talisman Energy Incorporated, BP Plc, Halliburton Company, Ultra Petroleum Corporation, Schlumberger Ltd., Quicksilver Resources Incorporated, Canyon Services Group Incorporated, Baker Hughes Incorporated, San Leon Energy Plc, ExxonMobil/ XTO Energy Incorporated, and Devon Energy Corporation.

Based on figures provided by a global market research firm, the worldwide shale gas production was 10,138.2 billion cubic feet (Bcf) in the year 2012 and, growing at a CAGR of 7.9%, is projected to reach an estimated production of 17,201.6 Bcf in 2019.

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