Global Shale Gas Market- Industry Analysis, Size, Share, Growth, Trends and Forecast 2013 - 2019
Albany, New York (PRWEB) September 27, 2014
Shale gas is a type of unconventional gas trapped within organic-rich shale formations. It is the most common form of sedimentary rock found in the deposits all over the world. Shale gas is extracted through a decent combination of horizontal drilling and hydraulic fracturing that allows an appropriate volume of shale gas to be produced in certain ways. Shale is highly distinguished by being soft and extremely fissile. In addition to it being the richest source of fossil depositions, shale also carries a number of ornamental and practical uses in the market. It is available in an array of colors whereby, some are dark that they are almost black, while some others may be brown, greenish, bluish, or cream – all depending on the precise composition of the rock.
For years, the United States has taken particular interest in extracting fuel from oil shale rocks and formations. The natural gas industry in the U.S. is typically boosted due to the economical production of shale gas in the entire region. At present, shale gas accounts for 36 percent of the total natural gas production in the U.S.
- Global Market – Stats & Figures
According to leading market research reports based on the study of the ‘Shale Gas Market’ for the forecast period 2013 – 2019, the global shale gas production was 10,138.2 Bcf in 2012 and is expected to reach 17,201.6 Bcf by 2019, growing at a CAGR of 7.9% from 2013 to 2019.
Most of the countries, especially including the U.S., dominate the shale gas market in terms of production and revenue because of the constantly increasing demand for energy and the global awareness on depletion of unconventional source of energy from the oil & gas reservoirs. Shale gas has proven to be a revolution on a global level as it comes across to be a cheap and abundant alternative among other gas resources.
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- Application Analysis
The use of shale gas is observed in various applications such as industrial, power generation, commercial, residential, and transportation segments. Due to an increasing demand seen from these applications the market experiences higher production of shale gas in order to meet all the needs. The drive is majorly seen in countries like the U.S. and Canada. Also, focus on lowering dependability on conventional gas sources is another added factor to the growth of this
For years, the Asian companies and key foreign players have also been richly investing in this market in order to gain high profits in the next coming years. Nevertheless, high production costs and excessive utilization of water are restraining factors that would majorly affect the growth of the market.
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- Geographical Analysis of Shale Gas Market
Geographically, North America has had a positive, a rather advantageous façade in the growth of the shale gas market. Hydraulic fracturing and soaring gas prices have tremendously enhanced the growth of unconventional gases in North America. Due to this, the global energy supply shift is also expected to be seen in this region in the near future.
Additionally, Eastern Europe and Eurasia accounted for over 60% of conventional gas resources and nearly 16.5% was accounted for the unconventional gas sources. The unconventional gas accounted for 44% of the total technically recoverable gas until 2012, whereas shale gas represented two-third of the unconventional sources. There are many technically recoverable unconventional gas zone areas in the U.S. and China which are yet to be discovered.