As
the focus on unconventional gas sources intensifies, the global shalegas market will be the key beneficiary, finds a latest report
published by Transparency Market Research. According to the report,
the production of shale gas worldwide stood at 10,138.2 Bcf in 2012,
and will exhibit a 7.9% CAGR from 2013 to 2019, by which year it will
stand at 17,201.6 Bcf.The report, titled ‘Global Shale Gas Market -
Industry Analysis, Size, Share, Growth, Trends and Forecast 2013 -
2019,’ states that measures to address the depletion of
conventional gas reservoirs has prompted sizeable investments in
shale gas exploration. The key challenges standing in the way of the
market’s growth are the high cost of shale gas exploration and
extraction and concerns about surface water being contaminated.
These
efforts have already borne fruit with a shale gas revolution being
seen in the U.S., which has put the country firmly on the path to
becoming a net exporter of natural gas by 2017, marking an evident
change from its status as a modest net importer. In the hope to
emulate the U.S.’s success, countries such as China have also
pumped in billions of dollars’ worth of investments into shale gas
exploration.As of 2014, however, the U.S. was the leader in both
production of and revenue from shale gas. The landscape of the global
shale gas market, however, could likely see a shift in the coming
years with many more countries showing massive potential for shale
gas production with the discovery of new reserves worldwide.
As
is the case with natural gas, shale gas too finds various
applications, which include: power generation, industrial,
residential, commercial, transportation, and others. With each of
these applications needing more power with every passing year, the
demand for shale gas from all application areas is expected to rise
steadily.According to TMR’s findings, in 2012, unconventional gas
constituted 44% of all technically recoverable gas. Shale gas
comprised two-thirds of all unconventional sources. About 60% of all
conventional gas resources occur in Eastern Europe and Eurasia and
these regions hold 16.5% of all unconventional gas sources. An
appreciable part of the remaining reserves of technically recoverable
unconventional gas occurs in the U.S. and China, both of whom are
currently net gas importers. The report states that although massive
shale gas reserves exist in Europe, the stringent regulatory scenario
will prevent the shale gas market from exhibiting dramatic growth.
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By
application, the report segments the shale gas market into power
generation, commercial, industrial, residential, and transportation.
As of 2012, the industrial sector constituted the largest application
segment of the shale gas market with a share of 30%, and is expected
to rise to about 35% by 2019. Power generation is yet another major
application segment. The report conducts an in-depth technology
analysis of the shale gas market by studying techniques such as
horizontal drilling, hydraulic fracturing, and water usage
issues.With sectoral majors such as Anadarko Petroleum Corporation,
BP plc, BHP Billiton Limited, Cabot Oil and Gas, ConocoPhillips,
Chesapeake Energy Corporation, ExxonMobil, and Total SA investing
aggressively in setting up new platforms and refineries and midstream
activities, the competitive scenario in the global shale gas market
will continue to see new events and developments.
Shale
Gas Market: Technology Analysis
- Horizontal Drilling
- Hydraulic Fracturing
- Water Usage Issue
Shale
Gas Market: Application Analysis
- Industrial
- Power Generation
- Commercial
- Residential
- Transportation
Shale
Gas Market: Regional Analysis
North
America
- U.S.
- Canada
Asia
Pacific
- China
About
Us
Transparency
Market Research (TMR) is a market intelligence company, providing
global business information reports and services. Our exclusive blend
of quantitative forecasting and trends analysis provides
forward-looking insight for thousands of decision makers. TMR's
experienced team of Analysts, Researchers, and Consultants, use
proprietary data sources and various tools and techniques to gather
and analyze information.
Our
data repository is continuously updated and revised by a team of
research experts, so that it always reflects the latest trends and
information. With a broad research and analysis capability,
Transparency Market Research employs rigorous primary and secondary
research techniques in developing distinctive data sets and research
material for business reports.
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