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, ConocoPhillips,
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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