Natural Gas and Shale Gas Market Research Report 2020-2025
According to reliable estimates, global natural gas and shale gas market is projected to record substantial growth during 2020-2025. Natural gas is utilized for a plethora of applications such as heating, cooking, power generation, and vehicle fuel. It is used as chemical feedstock in the manufacturing sector for the production of plastics and other chemicals. Notably, natural gas is cleaner fossil fuel which produces 50% less carbon dioxide on burning. This factor in tandem with safe handling, easy storage, and high affordability as compared to other fossil fuels is propelling the market growth
Moreover, increasing shale gas exploration and extraction activities alongside extensive use of natural gas in flare stack across the petroleum industries are the major factor supporting the growth of global natural gas and shale gas market.
However, high leakage of fracked gas during the production of shale gas is a matter of concern for the environmentalists. Though shale gas is a form of natural gas, but its production involves energy-intensive processes like fracking and hydraulic fracturing of rocks. High levels of methane released into the environment during the manufacturing of shale gas will hamper the global natural gas & shale gas market outlook.
Elaborating on the type, coalbed methane wells segment is predicted to record significant growth over the forecast timeline. Growing adoption of coalbed methane (CBM) as an alternative to conventional natural gas for both consumer and industrial applications is augmenting the segment growth. CMB is extracted by employing multistage hydraulic fracturing in combination with horizontal drilling. Lower GHG emission of CBM as compared to conventional fuel is encouraging the exploration of CBM reservoirs. Increasing fuel imports by nations to diversify their fuel mix is another vital factor encouraging the establishments of coalbed methane wells.
Speaking of the application spectrum, global natural gas and shale gas market from industrial segment is anticipated to witness a rapid growth in the coming future. Methane is used as a feedstock and heat source in various manufacturing processes. Escalating product demand for natural gas for manufacturing a wide array of products such as fertilizers, plastics, fabrics, glass, cement, paper, and chemicals is supporting the segmental growth. On the other hand, growing inclination towards cleaner automotive fuels CNG is propelling the demand for natural gas across transportation application segment, thereby positively impacting the overall market valuation.
Considering the geographical outlook, United States, Canada, Mexico, UK, France, Germany, Russia, Italy, India, China, Japan, Korea, Southeast Asia, Brazil, Argentina, Saudi Arabia, Egypt, Nigeria, and South Africa are the key contributors of the global natural gas and shale gas market. As per the trusted sources, natural gas and shale gas market in Asia Pacific is presumed to gain modest traction during 2020-2025. The growth is attributable to extensive application of natural gas across end user industries, especially in emerging economies such as China and India on account of rapid industrialization and urbanization. Continuous exhaustion of coal reverses and lower cost of natural gas is expected to bolster the product demand in petrochemical and steel industries. Moreover, ongoing industrial infrastructure development coupled with rising per capita income in nations such as Vietnam and Thailand is complementing the business outlook in Asia Pacific.
Prominent players of natural gas and shale gas market include Conoco Phillips, EQT, Range Resources, ExxonMobil, Chevron, Pioneer Natural Resources, SM Energy, Chesapeake Energy, Anadarko Petroleum, Antero Resource, Southwestern Energy, and CONSOL Energy.