Press release
Oil Shale Global Market Report 2024: Key Players, Demand Patterns And Forecasts 2033 | AuraSource Inc., BP plc, Chevron Corporation, ExxonMobil Corporation, Independent Energy Partners Inc.
Oil Shale Market Share
The Business Research Company offers in-depth market insights through Oil Shale Global Market Report 2024, providing businesses with a competitive advantage by thoroughly analyzing the market structure, including estimates for numerous segments and sub-segments.
Market Size And Growth Forecast:
The oil shale market size has grown rapidly in recent years. It will grow from $2.91 billion in 2023 to $3.29 billion in 2024 at a compound annual growth rate (CAGR) of 13.1%. The growth in the historic period can be attributed to energy security concerns, fluctuating oil prices, geopolitical factors, environmental regulations, resource availability and reserves.
The oil shale market size is expected to see rapid growth in the next few years. It will grow to $5.31 billion in 2028 at a compound annual growth rate (CAGR) of 12.8%. The growth in the forecast period can be attributed to energy transition and demand, global energy policies, economic factors and oil prices, environmental considerations and regulations, infrastructure development. Major trends in the forecast period include sustainable practices, market diversification, investment in research & development, adaptation to energy transition, global market dynamics.
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Market Segmentation:
The oil shale market covered in this report is segmented -
1) By Product: Shale Gasoline, Shale Diesel, Kerosene, Other Products
2) By Technology: In-Situ Technology, Ex-Situ Technology
3) By Application: Fuel, Electricity, Cement and Chemicals, Other Applications
Major Driver - Rising Crude Oil Prices Fuel Growth In The Oil Shale Market
A surge in the crude oil price is expected to propel the growth of the oil shale market going forward. The crude oil price is the spot price for a barrel of benchmark crude oil. The crude oil price is increasing due to economic growth, supply limitation, and the COVID-19 pandemic. Shale oil is utilized as a replacement for conventional crude oil because, unlike the crude oil extraction technique, shale oil extraction (fracking) allows one drilling well to collect more potential energy without having to dig additional wells. For instance, in September 2022, according to a crude oil price report shared by Macro Trends, a US-based provider of historical charts covering the global stock, bond, commodity, and real estate markets, the average closing price of crude oil in 2022 is $97.40, an increase from $68.17 in 2021, which indicates an increase of 16.87%. whereas in 2020, the average closing price of crude oil was $39.68. Therefore, a surge in the crude oil price is driving the growth of the oil shale market.
Competitive Landscape:
Major companies operating in the oil shale market report are AuraSource Inc., BP plc, Chevron Corporation, ExxonMobil Corporation, Independent Energy Partners Inc., Queensland Energy Resources Limited, Shell plc, American Shale Oil LLC, Japan Petroleum Exploration Co Ltd., Occidental Petroleum Corporation, Chesapeake Energy Corporation, Marathon Oil Corporation, American Resources Corporation, EQT Corporation, Japan Oil Gas and Metals National Corporation, Blue Ensign Technologies Limited, Cabot Oil & Gas Corporation, Gazprom Neft PJSC, National Oilwell Varco Inc., Anadarko Petroleum Corporation, Apache Corporation, ConocoPhillips Company, Continental Resources Inc., Devon Energy Corporation, Electro-Petroleum Inc., EOG Resources Inc., GE Company, Halliburton Company, Hess Corporation, Murphy Oil Corporation, Noble Energy Inc., Petróleo Brasileiro SA, Pioneer Natural Resources Company, Schlumberger Limited, Statoil ASA, TechnipFMC plc, Total S.A., Weatherford International plc, Whiting Petroleum Corporation
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Top Trend - Technological Advancements Drive Innovation In The Oil Shale Market
Technological advancements have emerged as a key trend gaining popularity in the oil shale market. Major companies operating in the oil shale market are focused on innovating new technologies to sustain their position in the market. For instance, in September 2021, ExxonMobil Corporation, a US-based oil and gas corporation, launched EMRD, a renewable diesel process technology with the purpose of increasing bio-feedstock yields. With the use of this revolutionary process technique, renewable diesel may be produced from feedstocks such as animal fats, vegetable oils, and unrefined cooking oil. The Bio-Isomerization Dewaxing (BIDWTM) catalyst from ExxonMobil is used in the EMRD process, which is an integrated solution. This offers robust dewaxing for refiners and biofuel producers in both winter and summer modes. In comparison to other internally developed zeolite-based substitutes, the BIDW catalyst displayed improved yields.
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Oil Shale Market Characteristics
3. Oil Shale Market Trends And Strategies
4. Oil Shale Market - Macro Economic Scenario
5. Oil Shale Market Size And Growth
…..
27. Oil Shale Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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