Deerfield Beach, FL, March 21, 2016 (GLOBE NEWSWIRE) -- Zion Research has released a new report titled “Shale Gas Market by Technology (Horizontal Drilling, Hydraulic Fracturing, and Water Usage Issue) for Power Generation, Residential, Industrial, Commercial, Transportation and Other Applications: Global Industry Perspective, Comprehensive Analysis, and Forecast, 2014-2020.” According to the report, the global demand for shale gas was valued at USD 63 billion in 2014 is expected to reach USD 105 billion in 2020, growing at a CAGR of around 9% between 2015 and 2020. In terms of volume, the global shale gas market stood at around 10.0 trillion cubic feet in 2014.
Shale gas is a carbon-friendly and low-cost alternative to conventional fuels. Considerable deposits of shale gas are being found throughout the world. Shale gas is poised to provide a rising proportion of the global energy needs. Shale gas is also referred as natural gas and is extracted from shale. The main driving factor for shale gas industry is rapidly growing demand worldwide. U.S. government is highly focused on shale gas production in order to lower down reliance on crude oil as source of energy. However, high cost involved in the production in comparison with traditional sources would limit growth of this industry. However, ongoing research & development and technological advancements in the field of shale gas are estimated to bring down cost of production.
Browse the full "Shale Gas Market by Technology (Horizontal Drilling, Hydraulic Fracturing, and Water Usage Issue) for Power Generation, Residential, Industrial, Commercial, Transportation and Other Applications: Global Industry Perspective, Comprehensive Analysis, and Forecast, 2014-2020" report at http://www.marketresearchstore.com/report/shale-gas-market-by-technology-z38366
Methods are used for shale extraction such as horizontal drilling, water usage issue and hydraulic fracturing. Hydraulic fracturing involves injecting high-pressure water to break the source rock and release the natural gas contents. Horizontal drilling and hydraulic fracturing are widely employed for shale gas extraction process worldwide. Different applications of shale gas include residential, industrial, commercial, power generation, and transportation among others. In 2014, industrial applications segment was the leading segment of global shale gas industry and accounted for more than 30% share of the whole market. The power generation and residential applications segment are also projected to witness rapid growth during the estimated period.
Browse 24 Market Tables and 24 Figures spread through 70 Pages and an in-depth TOC on “Shale Gas Market - Global Size, Shares, Trends, Segment & Forecast to 2020”
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In 2014, North America dominated the production and consumption of shale gas. It accounted over 75% share in production and consumption of shale gas in the same year. US, Canada, China, Russia, Poland and Argentina have larger known recoverable reserves of shale gas. In a world of increasing energy prices, geopolitical instability, growing pressure to decrease harmful emissions, each of these countries has a significant stake in developing their shale gas production and distribution potentials. Middle East & Africa and Latin America are expected to remain nominal regional market in the years to come. Foremost domestic players in this market are consolidating their shale gas interests in established reserves while large independents are moving to unproven reserves. Shale gas industry is attracting new foreign and domestic investment as the entire risk profile declines.
Some of the key players in the global shale gas market include Baker Hughes Incorporation, Devon Energy, EnCana Corporation, BHP Billiton Limited, Anadarko Petroleum Corporation, ConocoPhillips Co, Royal Dutch Shell plc, ExxonMobil, Chesapeake Energy Corporation, and BP plc.
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The report segments the global shale gas market as:
Shale Gas Market: Technology Segment Analysis
- Horizontal drilling
- Hydraulic fracturing
- Water usage issue
Shale Gas Market: Application Segment Analysis
- Power generation
Shale Gas Market: Regional Segment Analysis
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
Browse Press Release: http://www.marketresearchstore.com/news/global-shale-gas-market-set-for-rapid-growth-114
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