Market Size of Shale Gas Industry
Study Period | 2020-2029 |
Base Year For Estimation | 2023 |
CAGR (2024 - 2029) | 4.20 % |
Fastest Growing Market | North America |
Largest Market | North America |
Market Concentration | Medium |
Major Players*Disclaimer: Major Players sorted in no particular order |
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Shale Gas Market Analysis
The Shale Gas Market size in terms of production volume is expected to grow from 0.84 Trillion cubic meters in 2024 to 1.04 Trillion cubic meters by 2029, at a CAGR of 4.20% during the forecast period (2024-2029).
- Over the medium term, factors such as proved shale gas reserves and the recent technological interventions in horizontal drilling and hydraulic fracturing are expected to drive the market in the long term.
- On the other hand, volatility in the oil market with prices below the shale gas production cost and high exploration cost are two critical restraints in the market.
- Nevertheless, the discovery of new shale gas reserves are expected to create several opportunities for the market in the future.
- North America is expected to be the largest market in the forecast period, owing to its large-scale production of shale gas in the region. The United States is expected to lead shale gas production in the area.
Shale Gas Industry Segmentation
Shale gas is the natural gas enclosed within shale formations or the pores of this sedimentary rock.
The shale gas market is segmented by geography. The report also covers the size and forecasts for the shale gas market across major regions. The market sizing and predictions for the segment have been done based on production volume for all the above segments.
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Shale Gas Market Size Summary
The shale gas market is poised for significant growth over the forecast period, driven by advancements in horizontal drilling and hydraulic fracturing technologies, as well as the availability of proved shale gas reserves. However, the market faces challenges such as volatility in oil prices and high exploration costs, which could hinder its expansion. Environmental concerns, including methane emissions and water usage during fracking, have also sparked opposition from local communities and environmental groups, potentially restraining market growth. Despite these challenges, the discovery of new shale gas reserves presents opportunities for future market development. North America, particularly the United States, is expected to remain the dominant region in shale gas production, with significant contributions from the Permian Basin.
Globally, the shale gas market is semi-fragmented, with key players like Chesapeake Energy Corporation, Shell PLC, Exxon Mobil Corporation, PetroChina Company Limited, and ConocoPhillips Company actively participating. While countries such as Brazil, Canada, China, and Argentina have attempted to replicate the U.S. shale boom, only China has made notable progress, albeit with challenges due to unstable reservoirs. Canada is shifting focus to unconventional sources like shale gas to compensate for declining conventional reserves. Recent developments, such as the UK's commitment to shale gas development and significant discoveries in Australia and China, indicate ongoing interest and investment in the sector. These factors collectively suggest a robust outlook for the shale gas market, particularly in North America.
Shale Gas Market Size - Table of Contents
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1. MARKET OVERVIEW
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1.1 Introduction
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1.2 Shale Gas Production and Forecast, until 2029
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1.3 Recent Trends and Developments
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1.4 Government Policies and Regulations
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1.5 Market Dynamics
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1.5.1 Drivers
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1.5.1.1 Proven Shale Gas Reserves
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1.5.1.2 Technological Advancement in Horizontal Drilling and Hydraulic Fracturing
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1.5.2 Restraints
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1.5.2.1 High Exploration Cost
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1.6 Supply Chain Analysis
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1.7 Porter Five Forces
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1.7.1 Bargaining Power of Suppliers
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1.7.2 Bargaining Power of Consumers
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1.7.3 Threat of New Entrants
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1.7.4 Threat of Substitutes Products and Services
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1.7.5 Intensity of Competitive Rivalry
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2. MARKET SEGMENTATION
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2.1 Geography
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2.1.1 North America
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2.1.1.1 United States
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2.1.1.2 Canada
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2.1.1.3 Rest of North America
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2.1.2 South America
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2.1.2.1 Brazil
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2.1.2.2 Argentina
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2.1.2.3 Chile
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2.1.2.4 Colombia
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2.1.2.5 Rest of South America
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2.1.3 Asia-Pacific
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2.1.3.1 China
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2.1.3.2 India
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2.1.3.3 Japan
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2.1.3.4 Australia
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2.1.3.5 Malaysia
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2.1.3.6 Thailand
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2.1.3.7 Indonesia
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2.1.3.8 Vietnam
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2.1.3.9 Rest of Asia-Pacific
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2.1.4 Europe
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2.1.4.1 Germany
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2.1.4.2 France
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2.1.4.3 United Kingdom
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2.1.4.4 Italy
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2.1.4.5 Spain
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2.1.4.6 NORDIC
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2.1.4.7 Turkey
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2.1.4.8 Russia
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2.1.4.9 Rest of Europe
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2.1.5 Middle-East and Africa
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2.1.5.1 United Arab Emirates
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2.1.5.2 Saudi Arabia
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2.1.5.3 Qatar
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2.1.5.4 South Africa
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2.1.5.5 Nigeria
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2.1.5.6 Egypt
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Shale Gas Market Size FAQs
How big is the Shale Gas Market?
The Shale Gas Market size is expected to reach 0.84 trillion cubic meters in 2024 and grow at a CAGR of 4.20% to reach 1.04 trillion cubic meters by 2029.
What is the current Shale Gas Market size?
In 2024, the Shale Gas Market size is expected to reach 0.84 trillion cubic meters.