Market Size of United States Shale Business Overview
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2020 - 2022 |
| CAGR | 3.50 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
US Shale Market Analysis
The US shale market is expected to register a more than 3.5% CAGR between 2022 and 2027. COVID-19 has brought the most significant change in the industry since the beginning of the shale boom in 2007. The pandemic has impacted the market's growth as the companies operating in the US shale companies witnessed a decrease of around 60% in Q1 2020. Around 200 companies filed for bankruptcy in 2020. The US shale industry has suffered from the reduction in the overall rig count and has encountered relatively steep decline rates of shale wells, which has impacted the market and lowered the price. Factors such as increased oil consumption and the rising growth in oil-dependent industries are expected to drive the market. However, volatility in the oil market with prices going below the shale gas production cost may restrain.
- Because of its increased production, the shale gas sub-segment is expected to dominate the market during the forecast period 2022-2027.
- New developments in shale gas production technology, like the advancements in horizontal drilling technology, are expected to make shale gas reservoirs more viable. This may provide an opportunity for market players.
- Increasing deepwater activities are expected to drive the market during the forecast period.
US Shale Industry Segmentation
The US shale market report includes:
| Type | |
| Shale Gas | |
| Shale Oil |
United States Shale Business Overview Size Summary
The US shale industry is poised for growth, driven by increased oil consumption and advancements in production technologies. Despite the challenges posed by the COVID-19 pandemic, which led to significant financial setbacks and a reduction in rig counts, the market is expected to recover and expand. The shale gas sub-segment is anticipated to lead this growth, supported by technological advancements in horizontal drilling that enhance the viability of shale gas reservoirs. The United States, as a major producer of dry natural gas, continues to leverage shale gas as a cleaner fuel alternative, aligning with its carbon reduction goals. The Permian Basin, a key shale reservoir, remains a focal point for exploration and production activities, with major companies like ExxonMobil and Chevron increasing their drilling efforts to boost output.
Deepwater activities in the US Gulf of Mexico are also expected to contribute significantly to the market's expansion. The reduction in drilling rig costs and shorter investment return periods have revitalized offshore investments, leading to increased exploration activities. The Gulf of Mexico, accounting for a substantial portion of US crude oil production, is witnessing a rise in production levels, further driving market growth. Notable projects and developments, such as Shell Offshore Inc.'s Whale development and British Petroleum's Mad Dog 2 project, are set to enhance production capabilities. The market remains moderately fragmented, with key players like Exxon Mobil Corporation, Baker Hughes Company, and Shell PLC actively participating in shaping its future trajectory.
United States Shale Business Overview 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 Market Size and Demand in USD billion, till 2027
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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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1.5.2 Restraints
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1.6 Supply Chain Analysis
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1.7 PESTLE Analysis
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2. MARKET SEGMENTATION
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2.1 Type
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2.1.1 Shale Gas
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2.1.2 Shale Oil
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United States Shale Business Overview Market Size FAQs
What is the current United States Shale Market size?
The United States Shale Market is projected to register a CAGR of greater than 3.5% during the forecast period (2024-2029)
Who are the key players in United States Shale Market?
Exxon Mobil Corporation, Baker Hughes Company, Shell PLC, Chevron Corporation and ConocoPhillips Company are the major companies operating in the United States Shale Market.
