Global Shale Gas Market: Insights, Market Size, Share, Growth, Trends Analysis and Forecast to 2021
Shale gas is potent alternative source of natural gas trapped in the shale formations. Shales are sedimentary rocks that are proved reserves of natural gas and petroleum. Over the years, hydraulic fracturing and horizontal drilling technologies have unlocked the shale reserves into largest oil & natural gas fields in the world. Shale gas is cheaper and carbon-friendly solution due to which companies are declining towards shale formations for their energy needs. Henceforth, shale gas is expected to revolutionize the energy industry in coming future. On the basis of technology, the shale gas market can be segmented into hydraulic fracking, water use and horizontal drilling technologies. Shale gas is a cost effective option widely used for power generation, transportation, commercial, residential and other industrial applications.
Some of the major drivers for the global shale gas market are large availability of shale reserves in different regions, it is cheaper and cleaner than natural gas. Furthermore, there are substantial numbers of shale reserves available across various regions which have encouraged its adoption in various industries. Shale gas has reduced dependence on other energy sources available in specific region, thereby leading to economic stability of the country. Major restraining factors influencing the global shale gas market are that it is a capital intensive process and has negative environmental impact by contaminating water.
The report provides insights into the market using analytical tools such as Porterâs five forces analysis and value chain analysis of dimethyl ether market. Moreover, the study highlights current market trends and provides forecast from 2014 to 2021. We also have highlighted future trends in the sauces, dressings and condiments market that will impact the demand during the forecast period.
Among the regional shale gas markets North America is leading in terms of production and use of shale gas for its different energy uses. European and Asia-Pacific regions have tremendous potential for shale gas market due to significant number of untapped shale plays in these countries.
Some of the major companies in the global shale gas market are Halliburton Company, Baker Hughes Inc., 3LEG Resources Inc., ConocoPhillips, ExxonMobil, Royal Dutch Shell, Chesapeake Energy Corporation, Chevron Corporation, BP plc, Anadarko Petroleum Corporation and BHP Billiton Limited. Major developmental strategies adopted by these companies are expansions, acquisitions, collaborations, joint ventures and partnerships. This has helped them to evolve and sustain as leaders in the global shale gas market.
Recently, Halliburton has acquired Baker Hughes to use some of its key technologies such as drill bits & artificial lifts and expand offerings in shale reserves. Also, Anadarko Petroleum Corporation entered into an agreement with FMC Technologies for subsea production and processing systems. This has enhanced companyâs technology portfolio in the exploration of deep water fields and unconventional gas.