Oil Shale Market 2024-2033 | Size, Share, Analysis, Insights

"The new report published by The Business Research Company, titled Oil Shale Global Market Report 2024 - Market Size, Trends, And Global Forecast 2024-2033, delivers an in-depth analysis of the leading size and forecasts, investment opportunities, winning strategies, market drivers and trends, competitive landscape, and evolving market trends.

As per the report, 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 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%.

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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.

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 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

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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

Contents of the report:
1. Executive Summary
2. Oil Shale Market Report Structure
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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