Shale gas is used for a range of applications which includes industrial, power generation, commercial, residential and transportation. It is basically a natural gas which is extracted from different shales.
Albany, NY -- (SBWIRE) -- 11/27/2016 -- The demand for shale gas is constantly increasing as the depleting reservoirs have forced the world to focus on unconventional source of energy. A revolution in this sector started with the production of shale gas in North America. The success of shale gas in North America has motivated other countries such as China to invest in it. The U.S. dominates the shale gas market in terms of production as well as revenue followed by Canada. China has not been able to produce shale gas at a commercial level and the production at the commercial level is expected to start in 2015. The price of natural gas has drastically decreased after shale gas production and is expected to remain low over the forecasted period. As natural gas is a feedstock and fuel for various industries hence reduction in prices has helped various industries such as petrochemical, chemical, automotive, etc. to increase their profit margins. Domestic and commercial customers are equally benefit from the reduction in price resulting in their low power bill.
Technically recoverable reserves of shale gas are available abundantly around the world and are expected to serve the global energy need for a long time. Asia Pacific being the region with a majority of reserves but the region has not produced commercially due to lack of technology. Foreign investors have established joint ventures and mergers with Asia Pacific companies due to potential reserves in the region. European countries are strongly opposing the shale gas production due to its impact over the environment. Chemicals which are used during the hydraulic fracturing may contaminate the ground water if leaked and the water which is recovered during production also needs to be treated before pumped to a ground water resource or reused. High cost of production mainly due to hydraulic fracturing and contamination of surface water are expected to hinder the market growth in the near future. Shale gas is found in rock with low permeability and hence the number of times hydraulic fracturing required by a well is more than a conventional well leading to a high cost of production. The quantity of water used in shale gas fracturing is very high and creates water scarcity for drinking and domestic purpose used in some areas where the water is limited.
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This report focuses on estimates and forecasts of the global shale gas market in terms of volume (Bcf) and revenue (USD billion) from 2013 to 2019. For the purpose of this report, we have considered the supply side and not the demand side, for each region and application segment. The report analyzes value chain components in order to study value added at each stage. The study discusses major driving and restraining factors for the shale gas market and emerging opportunities in the near future.
The major applications analyzed in this report include industrial, power generation, residential, commercial and transportation. The demand of shale gas in these applications has increased and environmental regulations are also promoting the use of shale gas instead of other fuels such as coal which leads to the environmental pollution. Most of the coal fired plants across the globe are being converted into a gas fired plants hence creating a demand for shale gas. Each application is further analyzed and forecasted on the basis of regional production including the U.S., Europe, Asia Pacific and Rest of the World over the forecasted period from 2013 to 2019.
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