North America Shale Market Size (2024 - 2029)

The North American shale market is anticipated to experience growth driven by the increasing use of shale gas as a cleaner energy source compared to coal. Despite the challenge posed by higher breakeven costs for oil and gas from unconventional reservoirs, the market is supported by substantial proven reserves and development opportunities in countries like Canada and Mexico. The United States, which produces the majority of shale gas and oil in the region, is expected to maintain its dominant position in the market.

Market Size of North America Shale Industry

North America Shale Market Overview
Study Period 2020 - 2029
Base Year For Estimation 2023
Forecast Data Period 2024 - 2029
Historical Data Period 2020 - 2022
CAGR 6.00 %

Major Players

North America Shale Market Major Players

*Disclaimer: Major Players sorted in no particular order

North America Shale Market Analysis

The North American shale market is expected to register a CAGR of over 6% during the forecast period of 2020-2025. Factors, such as using shale gas, which is a cleaner fuel than coal for energy generation, are likely to drive the North American shale market. However, higher breakeven costs for the oil and gas produced from unconventional reservoirs is expected to have a negative impact on the North American shale market.

  • The shale gas segment, because of its increasing production, has dominated the market in 2018 and is likely to dominate the market during the forecast period.
  • Massive amounts of proven reserves of shale and its development in countries, such as Canada and Mexico, are likely to create an opportunity for the North American shale market.
  • The United States due to the production of 95% of shale gas and shale oil in North America held the major share in 2018 and is expected to dominate the market during the forecast period.

North America Shale Industry Segmentation

The North American shale market report include:

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North America Shale Market Size Summary

The North American shale market is poised for significant growth, driven by the increasing adoption of shale gas as a cleaner alternative to coal for energy generation. This shift is part of a broader strategy to reduce carbon emissions across the region. The shale gas segment has been a dominant force, largely due to its substantial production levels and the vast proven reserves in countries like Canada and Mexico. The United States, which accounts for the majority of shale gas and oil production in North America, is expected to maintain its leading position in the market. The development of shale resources, particularly in the Permian Basin, is further bolstered by major industry players such as Chevron and Exxon Mobil, who are actively expanding their exploration and production activities.

Despite the promising outlook, the North American shale market faces challenges, including the high breakeven costs associated with extracting oil and gas from unconventional reservoirs. However, the market remains moderately consolidated, with key players like Exxon Mobil Corporation, Murphy Oil Corporation, Royal Dutch Shell PLC, Total SA, and Chevron Corporation playing significant roles. These companies are not only contributing to the market's growth but also shaping its competitive landscape through strategic investments and expansions. As the demand for cleaner energy sources continues to rise, the North American shale market is expected to experience sustained growth, with shale gas maintaining its dominance throughout the forecast period.

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North America Shale Market Size - Table of Contents

  1. 1. MARKET OVERVIEW

    1. 1.1 Introduction

    2. 1.2 North America Shale Oil and Gas Production Forecast, till 2025

      1. 1.2.1 Shale Gas Production Forecast, in million metric ton Oil Equivalent

      2. 1.2.2 Shale Oil Production Forecast, in thousand barrel per day

    3. 1.3 Recent Trends and Developments

    4. 1.4 Government Policies and Regulations

    5. 1.5 Market Dynamics

      1. 1.5.1 Drivers

      2. 1.5.2 Restraints

    6. 1.6 Supply Chain Analysis

    7. 1.7 Porter's Five Forces Analysis

      1. 1.7.1 Bargaining Power of Suppliers

      2. 1.7.2 Bargaining Power of Consumers

      3. 1.7.3 Threat of New Entrants

      4. 1.7.4 Threat of Substitute Product and Services

      5. 1.7.5 Intensity of Competitive Rivalry

North America Shale Market Size FAQs

The North America Shale Market is projected to register a CAGR of greater than 6% during the forecast period (2024-2029)

Exxon Mobil Corporation , Murphy Oil Corporation, Chevron Corporation and Royal Dutch Shell Plc are the major companies operating in the North America Shale Market.

North America Shale Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)