Shale Gas Market to increase by USD 20.36 billion between 2023 to 2028, Horizontal Fracking to be the major contributing segment - Technavio

NEW YORK , Dec. 8, 2023 /PRNewswire/ -- The shale gas market size is expected to grow by USD 20.36 billion from 2023 to 2028, according to Technavio. In addition, the growth momentum of the market will progress at a CAGR of 5.31% during the forecast period. Advantages associated with shale gas are notably driving the shale gas market. However, factors such as Shortage of water for fracking may impede market growth. The market is segmented by Technology (Horizontal fracking, Vertical fracking, and Rotary fracking), Application (Industrial, Buildings, and Transportation), and Geography (APAC, North America, Europe, South America, and Middle East and Africa). Technavio provides a comprehensive report summary describing the market size and forecast along with research methodology. The sample report is available in PDF format 

Key Segment Analysis
The horizontal fracking segment will contribute major growth to the overall market during the forecast period. This segment significantly increases the contact area between the wellbore and the shale rock, allowing for more efficient extraction of shale gas. As a result, there are higher production rates and greater gas recovery compared to vertical drilling. Fewer surface locations are required for horizontal wells, which helps minimize the impact on local communities and ecosystems, reducing truck traffic, and lessening surface emissions. Improved reservoir connectivity, exploration efficiency, and reduced surface disruption are some of the factors that will drive the growth of the horizontal fracking segment and impel the global shale gas market during the forecast period. To know additional highlights and key points on various market segments and their impact in coming years, View a PDF Sample Report.

Geographical Market Analysis 

APAC will contribute a majority share to the overall market growth during the forecast period. It will contribute 34% to the global market. The region homes significant shale gas resources. This includes shale formations in countries like China, India, Australia, and Indonesia. Furthermore, their exploration and development are estimated to offer the potential for substantial production. Population growth and economic development are some of the major factors that create a need for additional energy sources. Shale gas can help meet this growing demand. Additionally, in countries like India, drilling projects are increasing and the Ministry of Petroleum and Natural Gas approved oil and gas projects worth approximately USD 13.51 billion for North Eastern states in India in September 2021. Such projects are expected to be completed by 2025.

Company Insights 
The shale gas market is fragmented, and the companies are deploying organic and inorganic growth strategies to compete in the market. The report analyzes the market's competitive landscape and offers information on several market companies, including:
Antero Resources Corp., BP Plc, Chesapeake Energy Corp, Chevron Corp., China National Petroleum Corp., China Petrochemical Corp., ConocoPhillips Co., COTERRA ENERGY INC., EOG Resources Inc, EQT Corp., Equinor ASA, Exxon Mobil Corp., Kolibri Global Energy Inc., Occidental Petroleum Corp., Pioneer Natural Resources Co., Range Resources Corp., Shell plc, SouthWestern Energy Co., TotalEnergies SE, YPF Sociedad Anonima

• View a FREE PDF Sample Report to find additional highlights on the growth strategies adopted by companies and their product offerings.

• The Natural Gas Liquids (NGL) Market size is estimated to grow at a CAGR of 6.47% between 2023 and 2028. The market size is forecast to increase by USD 19.62 billion.
• The underground gas storage market size is estimated to grow at a CAGR of 5.36% between 2022 and 2027. The market size is forecast to increase by USD 9,797.35 million.

ToC:

Executive Summary

Market Landscape

Market Sizing

Historic Market Sizes

Five Forces Analysis

Market Segmentation by Technology

Market Segmentation by Application

Market Segmentation by Geography

Customer Landscape

Geographic Landscape

Drivers, Challenges, & Trends

Company Landscape

Company Analysis

Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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SOURCE Technavio