As stated by the available details, the global shale gas market size is likely to reach USD 131.1 billion by 2027. It is expected to increase by 8.5% CAGR throughout the forecast period.
Growing demand for the cleaner burning energy resources, in a number of end-user functions, is expected to impel the market for shale gas, during the forecast period. In terms of the share of power source in universal creation of electricity, shale gas provides considerable power to the electricity generation. It is subsequent to coal.
In any case, where the natural gas is a feasible option, this contribution is anticipated to grow up during the subsequently a small number of years, in reaction to the financially viable as well as ecological restrictions of coal production. This end-user application is likely to power the market, throughout the forecast period.
The supply chain of shale gas comprises, manufacture and processing, transportation and storing of the gas, as well as delivery to housing, commercial and large capacity consumers. Progress of hydraulic cracking machinery together with horizontal drilling procedure is estimated to increase the cost-effective manufacture of gas, in this manner, increasing the upstream sector of the supply chain.
The economics of fuel delivery together with the latest macroeconomic changes have sourced the growing span to support the additional shale gas utilization in power generation as well as smaller consumption, in industrial activities.
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Further key findings from the report suggest:
• Due to the growing number of Compressed Natural Gas (CNG) powered automobiles are in use, the transportation division is likely to observe a large CAGR, during the forecast period
• In China, the possible resources of gas are inviting massive funds from the global key market players, so as to take out and manufacture the unusual gas from these sources
• In 2019, the power generation sector held the biggest 36.1% share, due to the rising insist for natural gas in coal-to-gas electrical power generation units
• By means of the U.S. being the most important supplier to the local market, North America taken the principal revenue share of the shale gas market, in 2019
• Plentiful reserves of shale gas, together with growth of sophisticated drilling equipment are the major factors, powering the expansion of the business
Million Insights segmented the global shale gas market based on Application, and Region.
Shale Gas Application Outlook (Volume, Bcf; Revenue, USD Billion, 2016 - 2027)
• Power Generation
Shale Gas Regional Outlook (Volume, Bcf; Revenue, USD Billion, 2016 - 2027)
• North America
• South Africa
Various companies for shale gas market are:
• Chesapeake Energy Corporation.
• Exxon Mobil Corporation
• Chevron Corporation
• Petro China Company Limited
• Royal Dutch Shell PLC