Shale Gas Global Market To Reach Value Of About $100 Billion In 2025
14 Dec, 2021
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The shale gas market consists of sales of shale gas by entities (organizations, sole traders and partnerships) that carry out the exploration, development and production of shale gas by using pumping technologies and systems. Shale gas is trapped within shale formations.
Global Shale Gas Market Size And Drivers:
The global shale gas market is expected to grow from $55.58 billion in 2020 to $61.51 billion in 2021 at a compound annual growth rate (CAGR) of 10.67%. The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The global shale gas market is expected to reach $99.99 billion in 2025 at a CAGR of 12.92%. The rapid pace of advancements in shale gas exploration and drilling technologies is boosting production volumes and reducing production costs and thereby contributing to the growth of the market.
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Trends In The Global Shale Gas Market
Modular production systems in the gas industry are becoming popular as they are cost-effective, can extract gas within a short period and are more profitable than conventional methods. A modular system is an integrated field facility with prefabricated equipment, piping, instrumentation and others installed between the well and the pipeline for gas processing applications. This system helps in shortening the project timeline, providing cost-effective fabrication, better quality and improved safety. For instance, PROPAK, a Canada-based company that specializes in gas production packages using modularized processing plants. SIIRTEC NIGI, an Italy-based engineering and contracting company, utilizes the design and supply of skid-mounted and modular packages for gas processing, Sulphur recovery and others. Honeywell UOP, a company creating modular systems for shale gas retrieval states that modular systems can be ready for the startup in around 10 months whereas conventional stick-built, permanent wells, require 21 months to be startup-ready.
Global Shale Gas Market Segments:
The global shale gas market is further segmented –
By Technology: Exploration & Drilling, Fracturing Fluid
By Application: Power Generation, Industrial, Residential, Commercial, Transportation
By Geography: The global shale gas market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa.
Read More On The Report For The Global Shale Gas Market At:
https://www.thebusinessresearchcompany.com/report/shale-gas-global-market-reportShale Gas Global Market Report 2021 is one of a series of new reports from The Business Research Company that provides shale gas market overviews, analyzes and forecasts market size and growth for the global shale gas market, shale gas market share, shale gas market players, shale gas market segments and geographies, shale gas market’s leading competitors’ revenues, profiles and market shares. The shale gas market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.