DUBLIN--(BUSINESS WIRE)--The "Shale Gas Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)" report has been added to ResearchAndMarkets.com's offering.
The shale gas market is expected to grow at a CAGR of more than 9.0% over the period of 2021-2026.
he COVID-19 has brought the largest change in the industry since the beginning of the shale boom, in 2007. The pandemic is expected to impede the growth of the market with most of the risky assets being restructured and many companies either leaving or soon to leave the basins till the price point becomes profitable.
Factors such as an increase in consumption of oil and rising growth in the 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 act as a restraint to the market.
Increasing environmental concerns during the production of shale gas are expected to restrain the market studied.
New development in the Shale Gas production technology, like the advancements in horizontal drilling technology, is expected to make the Shale Gas reservoirs more viable and may provide an opportunity for market players.
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 the Shale Gas production in the region.
Key Market Trends
Increasing Environmental Concerns to Restrain the Market
- Despite the economic benefits, environmental risks associated with hydraulic fracturing are restraining the shale gas market.
- Methane gas emissions during the drilling process pose potential air pollution risks. Additionally, incorrect disposal of large volumes of chemically treated water used in hydraulic fracturing operations can potentially cause severe surface water contamination. This has attracted criticism from environment protection bodies and NGOs, around the world. Local farmers and residents have also repeatedly opposed hydraulic fracturing, owing to its impact on health and farming.
- Additionally, a typical fracking well requires approximately 2-10 million gallons of water during fracking operations, which puts additional strain on the water supply, particularly in the drought-prone regions.
- In West Texas, where the Permian Basin (which is expected to drive the growth of shale gas activities in the United States ) is located, shale gas companies already faced opposition and criticism from the farmers, owing to the water shortage due to hydraulic fracturing.
- The United States Geological Survey (USGS) blamed shale gas activities for the increase in earthquakes in the recent times, in certain parts of the Central and Eastern United States that are well-known for the extraction of oil and gas.
- Thus, the increasing environmental concerns are expected to restrain the market during the forecast period.
The shale gas market is moderately fragmented due to many companies operating in the industry. The key players in this market include Chesapeake Energy Corporation, Royal Dutch Shell PLC, Exxon Mobil Corporation, PetroChina Company Limited, and ConocoPhillips, among others.
Key Topics Covered:
1.1 Scope of the Study
1.2 Market Definition
1.3 Study Assumptions
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET OVERVIEW
4.2 Shale Gas Production and Forecast in billion cubic meter (BCM), until 2026
4.3 Recent Trends and Developments
4.4 Government Policies and Regulations
4.5 Market Dynamics
4.6 Supply Chain Analysis
4.7 Porter's Five Forces Analysis
5 MARKET SEGMENTATION
6 COMPETITIVE LANDSCAPE
6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
6.2 Strategies Adopted by Leading Players
6.3 Company Profiles
6.3.1 Antero Resources Corp
6.3.2 Southwestern Energy Company
6.3.3 EQT Corporation
6.3.4 Equinor ASA
6.3.5 Repsol SA
6.3.7 Chesapeake Energy Corporation
6.3.8 Royal Dutch Shell plc
6.3.9 Exxon Mobil Corporation
6.3.10 Chevron Corporation
6.3.13 Pioneer Natural Resources
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
For more information about this report visit https://www.researchandmarkets.com/r/dq7gqx