(PRWEB) June 27, 2014
The global shale gas market is into higher growth trajectory since the last three years. This growth in the market is largely fueled by an increase in the global natural gas consumption by 1.7%. North America is the only region active with commercial production of shale gas, and is expected to remain the largest shale gas market in terms of production volumes. By the year 2021, North America will cover 78% of the shale gas market, owing to technological expertise and availability of resources; followed by EMEA, Asia Pacific, and RoW.
The North America region is the largest market of shale gas in terms of both value & volume. Shale gas is used for various applications like power generation, industry usage, residential, commercial, and transportation usage. However, in this region shale gas is mainly used in industrial applications followed by power generation, and residential usage. The leading countries in consumption of natural gas are U.S. and Canada, which represent 79.7% and 11.6% of natural gas consumption in North America as of 2009. The increasing commercial production of shale gas, and well set supply infrastructure makes the U.S. one of the top consumers of natural gas. North American shale gas consumption by applications is expected to grow from $25,360.9 million in 2016 to $37,444.7 million in 2021, at CAGR of 7.6% for the same period.
Browse through the market data tables, figures and detailed ToC on the “North America Shale Gas Market”.
Asia-Pacific Shale Gas Market
Asia-Pacific has less market share as comparatively to other regions. The natural gas resources are mainly developed in Southeast Asia, whereas the prime consumers are located in North Eastern Asia. The supply and distribution infrastructure of natural gas in Asia Pacific is comparatively less developed than North America and Europe. The infrastructure specific to shale gas, like large amount of water required, would be a major restraint for shale gas producers in Asia in future. Asia Pacific region, as of 2010, accounts for around 18% of global natural gas consumption. The largest consumers in the region are China, Japan, and India. The natural gas consumption in Asia Pacific region is growing annually at the rate of 3.4%, which makes it lucrative market for shale gas consumption in the coming years. Asia Pacific shale gas consumption by application is expected to grow from $1,708.2 million in 2016 to $2,355.6 million in 2021, at CAGR of 6.2% for the same period. The growing population, improvements in infrastructure, and increasing consumption of petroleum is expected to drive the commercial consumption of shale gas in the Asia pacific region.
EMEA Shale Gas Market
The Europe, Middle East, and African (EMEA) region possesses the largest volumes of shale gas reserves in the world. The exploration activities taking place in this region have identified significant volumes of technically recoverable reserves in the countries like France, South Africa, Poland, and the UK. Russia is the largest producer and exporter of natural gas as of year 2010, due to the abundance of natural gas reserves in this region. The shale gas is more likely to be used in power generation application in Europe, as it offers cost advantage in power production than other conventional fuels. The EMEA shale gas consumption by application is expected to grow from $5,504.2 million in 2016 to $7,901.7 million in 2021, at CAGR of 7.1% for the same period.
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