Shale Gas Global Market Report 2024

“Shale Gas Global Market Report 2024 ” from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.

This report focuses on shale gas market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.

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Where is the largest and fastest growing market for shale gas? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? “The shale gas market global report ” from The Business Research Company answers all these questions and many more.

The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.

Scope

Markets Covered:

• 1) By Technology: Exploration & Drilling; Fracturing Fluid
• 2) By Application: Power Generation; Industrial; Residential; Commercial; Transportation
• Companies Mentioned: Royal Shell PLC; Exxon Mobil Corporation; PetroChina Company Limited; ConocoPhillips Company; Cabot Oil & Gas Corporation
• Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA; Canada; Italy; Spain
• Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
• Time series: Five years historic and ten years forecast.
• Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita,
• Data segmentations: country and regional historic and forecast data, market share of competitors, market segments.
• Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.
• Delivery format: PDF, Word and Excel Data Dashboard.

Executive Summary

Shale gas refers to natural gas trapped within shale formations, which are fine-grained sedimentary rocks. This type of natural gas is utilized for various purposes, including electricity generation, as well as domestic heating and cooking.

The main technologies employed in extracting shale gas are exploration and drilling, along with the use of fracturing fluid. Shale gas finds applications in a range of sectors, including power generation, industrial processes, residential use, commercial applications, and transportation.

The shale gas market research report is one of a series of new reports from The Business Research Company that provides shale gas market statistics, including shale gas industry global market size, regional shares, competitors with a shale gas market share, detailed shale gas market segments, market trends and opportunities, and any further data you may need to thrive in the shale gas industry. This shale gas market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

The shale gas market size has grown rapidly in recent years. It will grow from $77. 04 billion in 2023 to $88. 27 billion in 2024 at a compound annual growth rate (CAGR) of 14. 6%. The growth observed in the historical period can be attributed to energy security concerns, economic benefits, policy and regulatory support, and the global demand for energy.

The shale gas market size is expected to see rapid growth in the next few years. It will grow to $142. 53 billion in 2028 at a compound annual growth rate (CAGR) of 12. 7%. The anticipated growth in the forecast period can be attributed to increasing global energy consumption, growing environmental concerns, infrastructure development, and market liberalization. Key trends expected in the forecast period include a focus on innovation and research, technological advancements, infrastructure investments, and international collaboration in the energy sector.

The shale gas market is experiencing substantial growth, propelled by the rapid advancements in exploration and drilling technologies. These technological strides are not only increasing production volumes but also reducing production costs significantly. Companies are leveraging innovations like 3D seismic technology to optimize exploration and drilling processes, enhancing natural gas production levels while minimizing costs associated with exploration, drilling, and refining. Other noteworthy technological advances, such as hydraulic fracturing and horizontal drilling, are contributing to the overall expansion of the shale gas market. Thus, ongoing innovations in exploration and drilling technologies are expected to be key drivers for the shale gas market.

The growth of the shale gas market is further fueled by the global energy transition. This transition, signifying a fundamental shift in energy production, distribution, and consumption, positions shale gas as a transitional player toward cleaner energy sources. Shale gas contributes to energy security by offering a domestic or regional energy source, reducing dependence on imported fossil fuels susceptible to geopolitical and supply chain disruptions. The International Energy Agency reported a notable expansion of renewable energy capacity by over 13% in 2023, reaching nearly 340 GW, underscoring the role of shale gas in the ongoing global energy transition.

Modular production systems are gaining popularity in the gas industry due to their cost-effectiveness, rapid extraction capabilities, and profitability compared to conventional methods. These integrated field facilities, incorporating prefabricated equipment, piping, and instrumentation, expedite gas processing applications. Companies like PROPAK and SIIRTEC NIGI are notable for their contributions to modular systems in gas processing. Honeywell UOP highlights that modular systems can be operational within approximately 10 months, a significant reduction compared to the 21 months required for conventional stick-built wells. The adoption of modular systems underscores their ability to streamline project timelines, enhance fabrication efficiency, and improve safety standards.

Major players in the shale gas market are actively innovating, introducing new technological products such as electric grid-powered fracturing operations to enhance profitability. Electric grid-powered fracturing operations involve utilizing electricity from the public power grid to power hydraulic fracturing activities, presenting potential environmental benefits by reducing noise and local air pollution. In 2021, Halliburton successfully deployed the industry's first electric grid-powered fracturing operation, replacing traditional methods reliant on diesel generators or natural gas engines. This shift aligns with the industry's commitment to sustainable and environmentally friendly practices.

In October 2023, Exxon Mobil acquired Pioneer Natural Resources for $59. 5 billion. This strategic acquisition positions Exxon to surpass its main competitor, Chevron, establishing dominance in the Permian Basin. Pioneer Natural Resources is a prominent US-based oil and gas company.

Major companies operating in the in the shale gas market report are Royal Shell PLC, Exxon Mobil Corporation, PetroChina Company Limited, ConocoPhillips Company, Cabot Oil & Gas Corporation, Antero Resources Corporation, Anadarko Petroleum Corporation, Baker Hughes Incorporation, Equinor ASA, Repsol S. A., China Petroleum & Chemical Corporation (SINOPEC), Range Resources Corporation, Chevron Corporation, Pioneer Natural Resources Company, Reliance Industries Limited, SM Energy, Southwestern Energy, Chesapeake Energy Corporation, Marathon Oil Corporation, Continental Resources Inc., Noble Energy Inc., Encana Corporation, Apache Corporation, Gulfport Energy Corporation, Rice Energy Inc., Whiting Petroleum Corporation, Matador Resources Company, Qep Resources Inc., Devon energy Corporation, EOG Resources Inc.

Asia-Pacific was the largest region in the shale gas market in 2023. North America was the second-largest region in the shale gas market. The regions covered in the shale gas market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

The countries covered in the shale gas market report are: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Canada, Spain.

The shale gas market consists of sales of shale gas extracted through hydraulic fracturing and vertical drilling. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified)).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.