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Shale Gas Market Size Forecast: $155.38 Billion by 2029 | Global Outlook
Shale Gas
What Is the Projected Market Size Valuation of the Shale Gas Market by 2025?
In recent years, the size of the shale gas market has seen a swift expansion. It is projected to increase from $87.64 billion in 2024 to $100 billion in 2025, indicating a compound annual growth rate (CAGR) of 14.1%. Factors such as concerns about energy security, economic advantages, policy and regulatory backing, along with increasing global energy demand, have all contributed to the growth in this historical period.
What Is the Estimated Market Growth Value for the Shale Gas Industry in 2029?
The size of the shale gas market is predicted to experience a swift expansion in the upcoming years. It is forecasted to reach $155.38 billion in 2029, growing at a compound annual growth rate (CAGR) of 11.6%. This growth during the predicted period can be associated with an increase in worldwide energy usage, environmental considerations, infrastructure evolution, and market liberalization. Significant forecast period trends encompass innovation and research, technological progress, investments in infrastructure, and global collaboration.
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What Are the Growth Drivers and Opportunities in the Shale Gas Market?
The swift progression in shale gas exploration and drilling technologies is enhancing production quantities and lowering production expenses, thereby supporting market growth. Technological innovations are enabling companies to increase the recovery rates of shale gas and significantly slash production costs. For example, the utilization of 3D seismic technology is optimizing exploration and drilling procedures to amplify natural gas production levels and decrease costs related to exploration, drilling, and refining. Further areas where technology is swiftly progressing include hydraulic fracturing and horizontal drilling within the crude oil and gas market. As such, advancements and innovations in exploration and drilling technologies are predicted to push forward the shale gas market.
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What Are the Primary Segments Covered in the Global Shale Gas Market Report?
The shale gas market covered in this report is segmented -
1) By Technology: Exploration And Drilling, Fracturing Fluid
2) By Application: Power Generation, Industrial, Residential, Commercial, Transportation
Subsegments:
1) By Exploration And Drilling: Horizontal Drilling, Vertical Drilling, Drilling Techniques
2) By Fracturing Fluid: Water-Based Fracturing Fluids, Oil-Based Fracturing Fluids, Gel-Based Fracturing Fluids, Additives
What Are the Top Growth Trends in the Shale Gas Market?
The trend towards modular production systems in the gas industry is indeed gaining traction due to its efficiency, speed, and cost benefits over more traditional methodologies. These systems are integrated field facilities equipped with pre-built equipment, pipework, instrumentation and more, installed between the wellhead and pipeline for efficient gas processing. These systems are effective in minimizing the project duration, ensuring cost-efficient fabrication, superior quality, and heightened safety. Case in point, PROPAK, a company based in Canada that develops gas production packages through modular processing plants. SIIRTEC NIGI, an engineering and contracting company based in Italy employs the design and supply of skid-mounted and modular packages for gas processing, sulphur retrieval and other functions. Another example is Honeywell UOP, a company engaged in creating modular systems for shale gas extraction. They pointed out that whereas traditional stick-built wells take 21 months to be ready for operation, modular systems can be up and running in approximately 10 months.
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Which Companies Are Shaping the Future of the Shale Gas Market?
Major companies operating in the shale gas market include Royal Shell PLC, Exxon Mobil Corporation, PetroChina Company Limited, ConocoPhillips Company, Cabot Oil & Gas Corporation, Antero Resources Corporation, Baker Hughes Incorporation, Equinor ASA, Repsol S. A., China Petroleum & Chemical Corporation (SINOPEC), Range Resources Corporation, Chevron Corporation, Pioneer Natural Resources Company, Reliance Industries Limited, SM Energy, Southwestern Energy, Chesapeake Energy Corporation, Marathon Oil Corporation, Continental Resources Inc., Noble Energy Inc., Encana Corporation, Apache Corporation, Gulfport Energy Corporation, Rice Energy Inc., Whiting Petroleum Corporation, Matador Resources Company, Qep Resources Inc., Devon energy Corporation, EOG Resources Inc.
Which Region Holds the Largest Market Share in the Shale Gas Industry?
Asia-Pacific was the largest region in the shale gas market in 2024. North America was the second-largest region in the shale gas market. The regions covered in the shale gas market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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