Global Shale Gas Market Expected To Reach USD 67.02 Billion by 2020 Market Estimate, Competitive Landscape, Industry Size - Grand View Research,Inc
Growing focus on energy independence is expected to boost shale gas production over the next six years. View Report http://www.grandviewresearch.com/industry-analysis/shale-gas-industry.
San Francisco, California (PRWEB) March 18, 2014
The global market for shale gas is expected to reach USD 67.02 billion by 2020, according to a new study by Grand View Research, Inc. Depleting conventional energy reserves across the globe has prompted the industry to shift focus towards developing alternative energy sources which is expected to remain a key driving factor for shale gas demand over the next six years. In addition, regulatory support for developing unconventional gases including shale gas is also expected to enhance commercialization over the forecast period. However, environmental concern, especially excessive usage and contamination of water during shale gas production process is expected to be a key challenge for industry participants over the next six years.
The report “Shale Gas Market Analysis and Segment Forecasts to 2020,” is available now to Grand View Research customers and can also be purchased directly at http://www.grandviewresearch.com/industry-analysis/shale-gas-industry
Inquiry Before Buying @ http://www.grandviewresearch.com/inquiry/43
Power generation emerged as the leading application market for shale gas and accounted for 30.4% of total market volume in 2013. Environmental concerns regarding power generation via conventional energy coupled with regulatory support for development of unconventional energy sourcesfor power generation is expected to remain a key driving factor over the forecast period. However, transportation is expected to be the fastest growing application market for shale gas at an estimated CAGR of 10.8% from 2014 to 2020. Growing demand for alternative fuels such as compressed natural gas (CNG) and autogas (LPG) is expected to drive the demand for shale gas in transportation industry over the next six years.
Further Key findings from the study suggest:
- The global shale gas production was 10,826.6 bcf in 2013 and is expected to reach 18,211.3 bcf by 2020, growing at a CAGR of 8.3% from 2014 to 2020.
- U.S emerged as the leading shale gas producing country and accounted for 91.8% of total market volume in 2013. The U.S. shale boom has changed the overall energy scenario of the nation, prior to shale gas development; the U.S. was a net importer of natural gas. However, due to rapid exploration and production activities of shale gas, U.S. for the first time in many years emerged as a net exporter of natural gas in 2012. However, Asia Pacific is expected to be the fastest growing producer for shale gas at an estimated CAGR of 66.7% from 2015 to 2020. The Chinese government has also been providing substantial support in form of financial incentives and tax benefits to companies operating in shale gas market in China which is expected to drive the market over the forecast period.
- The global market for shale gas is highly competitive in nature and is led by top multinational oil & gas conglomerates which are present across the value chain. Conventional oil & gas companies coupled with companies focusing only on alternative energy forms the mix of the market. Shift in focus towards developing shale gas basins in China is expected to remain a key strategy for the market participants. Some of the leading companies in the global shale gas market include Anadarko Petroleum Corporation, Antero Resources, BHP Billiton, Cabot Oil & Gas, Chesapeake Energy Corporation, Devon Energy, Encana Corporation, Exxon Mobil Corporation, Reliance Industries Limited, Royal Dutch Shell, SM Energy, Statoil, Talisman Energy Inc. and Total SA among some other companies.
Browse All Conventional Energy Market Research Reports @ http://www.grandviewresearch.com/industry/conventional-energy
For the purpose of this study, Grand View Research has segmented the global shale gas market on the basis of application and region:
- Global Shale Gas Application Outlook (Volume, Bcf; Revenue, USD billion)
• Power Generation
- Shale Gas Regional Outlook
• North America
• Asia Pacific
Direct link for sample request of this report - http://www.grandviewresearch.com/request/43
Related Market Research Published by GrandViewResearch:
Solar Tracker Industry Trends And Market Segment Forecasts To 2018 (http://www.grandviewresearch.com/industry-analysis/solar-tracker-industry) Solar trackers could be single axis or dual axis based on the number of axis of rotation. A single axis tracker has a single axis of rotation which could be vertical, horizontal or polar aligned which moves from east to west during the course of the day. A dual axis tracker can perform any two of the above mentioned movement simultaneous thus resulting in increased level of efficiency in terms of solar energy generation.
Specialty Fuel Additives Market Analysis And Segment Forecasts To 2020 (http://www.grandviewresearch.com/industry-analysis/specialty-fuel-additives-industry) The global market for specialty fuel additives is expected to reach USD 8,517.6 million by 2020, according to a new study by Grand View Research, Inc. Dynamic regulatory trends, particularly in North America and Europe has prompted fuel marketers to use specialty fuel additives which is expected remain a key driving factor for the market over the forecast period. In addition, ban on MTBE in the U.S. is expected to further push the demand for fuel additives over the next six years.
About Grand View Research
Grand View Research, Inc. is a market research and consulting company that provides off-the-shelf, customized research reports and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and energy. With a deep-seated understanding of varied business environments, Grand View Research provides strategic objective insights. For more information, visit http://www.grandviewresearch.com
Corporate Sales Specialist, USA
Grand View Research, Inc
Toll Free: 1-888-202-9519
For the original version on PRWeb visit: http://www.prweb.com/releases/Shale-Gas-Market/GrandViewResearch/prweb11678952.htmView Comments and Join the Discussion!