LONDON--(BUSINESS WIRE)--Technavio forecast the global shale gas market is expected to grow by USD 13.51 billion during 2021-2025. This marks a significant market slow down compared to the 2019 growth estimates due to the impact of the COVID-19 pandemic in the first half of 2020. However, healthy growth is expected to continue throughout the forecast period, and the market is expected to grow at a CAGR of over 4%.
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The shale gas market is driven by the advantages of shale gas. In addition, the increasing consumption of natural gas is anticipated to boost the growth of the shale gas market.
Rising economic activities have resulted in growth in carbon dioxide emissions worldwide. To reduce the environmental impact of fossil fuels, governments across the world are encouraging the use of fuels such as natural gas and biomethane as alternatives to fossil fuels. These gases provide several benefits when compared with conventional heating fuels in the commercial, residential, and industrial sectors. They burn completely and have the lowest carbon content among all fossil fuels. Moreover, the use of clean fuels such as natural gas reduces the energy dependency of countries. Many such benefits are fueling the growth of the global shale gas market.
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Major Five Shale Gas Companies:
BP Plc
BP Plc operates its business through segments such as Upstream, Downstream, and Rosneft. The company is into the exploration and production of natural gas, including shale gas.
Chevron Corp.
Chevron Corp. operates its business through segments such as Upstream and Downstream. The company produces shale gas in the US, Canada, and Argentina.
China Petrochemical Corp.
China Petrochemical Corp. operates its business through segments such as Exploration and Production, Refining, Marketing and Distribution, and Chemicals. The company deals in the exploration and production of shale gas.
ConocoPhillips
ConocoPhillips operates its business through segments such as Alaska, Lower 48, and Canada. The company is involved in the exploration and production of shale gas in Eagle Ford, Bakken, Niobrara, and Delaware in the US and Montney in Canada.
Devon Energy Corp.
Devon Energy Corp. operates its business through the Unified segment. The company produces shale gas including oil, natural gas, and natural gas liquids from the most prolific shale basins in the U.S.
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Shale Gas Market Application Outlook (Revenue, USD Billion, 2020-2025)
- Industrial - size and forecast 2020-2025
- Buildings - size and forecast 2020-2025
- Transportation - size and forecast 2020-2025
Shale Gas Market Geography Outlook (Revenue, USD Billion, 2020-2025)
- North America - size and forecast 2020-2025
- APAC - size and forecast 2020-2025
- ROW - size and forecast 2020-2025
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