What Does the Historical and Current Shale Gas Market Size Trend Indicate?
The shale gas market has seen considerable growth due to a variety of factors.
• The size of the shale gas market has seen speedy expansion in recent times. It is forecasted to grow from $87.64 billion in 2024 to $100.44 billion in 2025, indicating a compound annual growth rate (CAGR) of 14.6%.
The growth noted in the historic period is primarily because of worries about energy security, economic advantages, policy and regulatory backing, and the global demand for energy.
How Will the Shale Gas Market Size Evolve over the Forecast Period?
The shale gas market is expected to maintain its strong growth trajectory in upcoming years.
• Expectations for the shale gas market point towards a swift expansion in the upcoming years. It's predicted to escalate to a worth of $156.66 billion in 2029, with a compound annual growth rate (CAGR) at 11.8%.
Factors contributing to this projected growth during the forecast period include a rise in global energy use, ecological worries, infrastructure progress, and market liberalization. The forecast period will also witness several trends like innovation and research, technological evolution, infrastructure investment, and international cooperation.
What Are The Core Factors Supporting Growth In The Shale Gas Market?
The swift progress in shale gas exploration and drilling technologies is bolstering production levels and cutting down production expenses, thus fueling market growth. These technological improvements let businesses augment shale gas recovery rates and significantly decrease production costs. As an example, 3D seismic technology is employed to streamline exploration and drilling operations, thereby boosting natural gas production rates and minimizing expenses linked to exploration, drilling, and refining. There are quick technological strides being made in other sectors of the crude oil and gas market too, like hydraulic fracturing and horizontal drilling. Therefore, advances and pioneering developments in exploration and drilling technologies are poised to propel the shale gas market.
What Are The Major Segments Within The Global Shale Gas Market?
The shale gas market covered in this report is segmented –
1) By Technology: Exploration And Drilling, Fracturing Fluid
2) By Application: Power Generation, Industrial, Residential, Commercial, Transportation
Subsegments:
1) By Exploration And Drilling: Horizontal Drilling, Vertical Drilling, Drilling Techniques
2) By Fracturing Fluid: Water-Based Fracturing Fluids, Oil-Based Fracturing Fluids, Gel-Based Fracturing Fluids, Additives
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Which Trends Are Expected To Transform The Shale Gas Market?
The use of modular production systems in the gas industry is on the rise due to their cost efficiency, capability to produce gas in a relatively short period and superior profitability over traditional methods. These systems, which essentially serve as comprehensive field facilities with pre-assembled components like equipment, piping, and instrumentation installed for gas processing applications, are situated between the gas well and the pipeline. Their main advantages include a shorter project duration, cost-effective fabrication, superior quality, and better safety measures. For instance, PROPAK, a Canadian firm, is well-known for its specialized gas production packages that leverage modular processing plants. SIIRTEC NIGI, an engineering and contracting firm based in Italy, uses modular packages for gas processing and Sulphur recovery among other operations. In addition, Honeywell UOP, a company that has developed modular systems for extracting shale gas, asserts that modular systems can be up and running in about 10 months; in contrast, permanent, traditionally-built wells need about 21 months to achieve the same state of readiness.
Who Are the Key Players in the Shale Gas Market?
Major companies operating in the shale gas market include:
• Royal Shell PLC
• Exxon Mobil Corporation
• PetroChina Company Limited
• ConocoPhillips Company
• Cabot Oil & Gas Corporation
• Antero Resources Corporation
• Baker Hughes Incorporation
• Equinor ASA
• Repsol S. A.
• China Petroleum & Chemical Corporation (SINOPEC)
• Range Resources Corporation
• Chevron Corporation
• Pioneer Natural Resources Company
• Reliance Industries Limited
• SM Energy
• Southwestern Energy
• Chesapeake Energy Corporation
• Marathon Oil Corporation
• Continental Resources Inc.
• Noble Energy Inc.
• Encana Corporation
• Apache Corporation
• Gulfport Energy Corporation
• Rice Energy Inc.
• Whiting Petroleum Corporation
• Matador Resources Company
• Qep Resources Inc.
• Devon energy Corporation
• EOG Resources Inc.
What Is The Most Dominant Region In The Shale Gas Market?
Asia-Pacific was the largest region in the shale gas market in 2024. North America was the second-largest region in the shale gas market. The regions covered in the shale gas market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
