Shale Gas Market 2022 | Business Analysis and Evolutionary Growth
The global sales of Shale Gas are expected to reach $214 billion by 2022. The market is expected to grow at a CAGR of 14.4% between 2015 and 2022. The United States has produced almost 90% of shale gas in 2014. The industrial sector is projected to grow at the highest CAGR of 15.3% during the forecast period.
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Shale gas refers to unconventional natural gas, trapped in the shale formation, which is derived by hydraulic fracturing process. Shale gas has become an increasingly important source of natural gas in the US and its interest as a potential gas shale is expected to increase in the rest of the world. According to the U.S. government's Energy Information Administration, by 2035, 46% of the United States' natural gas supply will come from shale gas. The analyst is expecting that shale gas will greatly expand the worldwide energy supply. China is predicted to have the world's largest shale gas reserves. As per the Obama administration increased shale gas development will enable to reduce greenhouse gas emissions.
Key Findings of Shale Gas Market:
• The North American shale gas market is expected to maintain its foothold in the market throughout the analysis period registering a CAGR of 12.6%, in terms of revenue.
• In Asia-Pacific shale gas market, power generation accounted for the highest consumption of about 37% in 2015, and it is expected to grow at a CAGR of 45.5%.
• Residential and commercial sector collectively accounted for 34% shale gas market share in 2015.
• The European shale gas market revenue for transportation application is projected to grow at a CAGR of 68.5%.
• The U.S. was the largest shale gas producer followed by Canada and China in the global shale gas market 2015.
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In order to stay competitive in the market, these market players are adopting different strategies such as acquisition, merger, partnership, and product launch. Anadarko Petroleums is expanding its premium shale properties, which are located in the Delaware and Denver-Julesburg (DJ) basins along with the Deepwater Gulf of Mexico (GOM). The company is progressively shifting to a greater liquid composition in its total production mix, which has resulted in the highest per-barrel margins since 2014. This move will let the company increase its presence in the global shale gas market size.
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