PORTLAND, Oregon, September 2, 2014 /PRNewswire/ --
According to a new market research report by Allied Market
Research titled, "Global Shale Gas Market (Technology,
Application and Geography) - Industry Analysis, Trends, Share,
Opportunities and Forecast,
2013 - 2020" the global shale
gas market is forecast to reach $104.1
billion by 2020, registering a CAGR of 9.3% during the
forecast period (2014 - 2020). The corresponding volume consumption
will reach 19,619.4 bcf in the same year. The advent of hydraulic
fracturing and horizontal drilling techniques has nearly doubled
the efficiency of shale gas retrieval from plays, revolutionizing
the shale gas market. China is a
major Asian country to propel the demand aided by insatiable energy
needs and increasing dependence on natural gas.
"Shale gas, as potent alternative source of natural gas, is
expected to shake up the global energy market in the coming years.
The availability of large number of shale plays, which is estimated
at 6,148 tcf in total, is presenting opportunity for marketer",
state AMR analysts Apurva Sale and
Guru Mallick. "Technological advancements vis-à-vis the exploration
and extraction of shale gas are enabling corporations to gain
strategically advantageous positions in the competitive market",
add the analysts. Though the large number of shale gas reserves are
available across the world, (North
America 1685 tcf, South
America 1430 tcf, Europe
470 tcf, Middle East and
Africa 1393 tcf, and Asia-Pacific 1170 tcf), exploration and
extraction still remains the major challenge in most of the regions
due to high extraction cost and large amount water usage in
conventional processes. The technological trend such as hydraulic
fracturing and horizontal drilling for the extraction of the shale
gas are contributing to the rise in the production of shale gas in
various geographies. As shale plays are available in abundance and
almost equally across the regions, the mass production will lower
dependence on fossil fuel reserves which is available only in
specific region. More energy independence with shale gas adoption
will eventually lead to better economic stability of the
country.
To View the complete report, visit the website at
http://www.alliedmarketresearch.com/shale-gas-market
Despite the latent commercial potential, the regulatory issues
in various regions would impede market growth. According to UK
government, fracking would be impractical in the parts of UK due to
the scarcity of the water supplies. Amidst, various European
countries such as Poland,
United Kingdom, and Algeria would start the production of shale
gas in next two to three years with the help of advance extraction
technology.
Shale Gas has a wide ranging application in power generation,
industrial usage, residential and commercial utility and usage in
transportation. The power generation sector would benefit the most
from the adoption of shale gas as it would be a cost-effective
alternative that ensures reduced electricity costs.
The worldwide adoption of shale gas as an energy resource would
undoubtedly benefit every region. The usage of unconventional
energy resource is an upcoming trend in the energy industry. A
substantial number of shale reserves in countries such as
China, Argentina and Algeria would act as a golden opportunity for
companies to enter the shale gas market. The Asia Pacific region appears especially
attractive due to the up gradation of technology for the extraction
of shale gas and the significant number of shale reserves. In-spite
large availability of shale reserves in the European countries the
production and adoption would be at lower side due to stringent
regulatory hurdles.
Key players such as Baker Hughes Incorporation, Anadarko
Petroleum Corporation, BHP Billiton Limited, Royal Dutch Shell, ConcoPhillips, ExxonMobil
& Chesapeake Energy Corporation and the developmental
strategies adopted by them have been carefully examined.
Acquisitions, expansions, partnerships, collaborations and joint
ventures are some major strategies adopted by market players in
order to sustain in the competitive market.
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and business consulting wing of Allied Analytics LLP, based in
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companies, and this helps us in digging out market data that helps
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accuracy in our market forecasting. All the data presented in the
reports published by us is extracted through primary interviews
with top officials from leading companies of concerned domain. Our
secondary data procurement methodology includes deep online and
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and analysts in the industry.
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