Shale Gas Market is one of the
popular conventional energy sources as it emits less carbon compared to other
fossil fuels such as coal and hence is expected to become the major fuel
replacing coal and other fossil fuels provided its production increases in the
near future.
Regarding end-users, shale gas market is segmented into
industrial, commercial, power generation, transportation, and residential.
Owing to its low price compared to other fossil fuels, the market is
anticipated to replace conventional sources such as coal, nuclear and hydro
especially in chemical, fertilizer and hydrogel production industries.
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Industrial, residential, commercial, transportation and
power generation are the key application sectors. In 2013, power generation was
the major application segment accounted for more than 30% of total volume of
shale gas produced. The main factors driving product demand in this segment is
the abundance and low carbon footprint of shale gas over coal and crude oil.
Environmental concerns and regulatory support for the use of
conventional sources of energy is yet another factor to drive shale gas demand
in this power generation industry. Industries in Canada and U.S. are slowly
shifting their focus towards the utilization of shale gas replacing the
conventional gases. Growing demand against LPG and CNG as the alternative
transportation fuel is another important reason responsible for its increase in
consumption in the past few years and this trend is expected to continue over
the forecast period. This will develop transportation to be the fastest growing
application with a projected at a CAGR of 10.8% from 2014 to 2020.
The commercial application of the market is also expected to
grow at CAGR of around 5.3% from 2014 to 2020 to reach approximately USD 10
billion by 2020.
Regional Insights:
In the present industry scenario, Canada and U.S. are the
major producers of shale gas. These two countries produced almost 92% of the
total volume in 2013. Earlier to shale gas, U.S. was the largest importer of
natural gas. Later on, owing to rapid production and exploration activities,
U.S. emerged as the major exporter for the market followed by Canada estimated
over 8.2% of the gas extracted in 2013.
China accounted 30 million cbf output by 2012 and increased
its production to 200 million cbf till 2013. As per estimates, China has a huge
amount of shale gas reservoirs and discovers great market potential. The
Chinese government is also supporting tax leverage and financial benefits to
the shale gas companies.
APAC is anticipated to be the emerging market with a CAGR of
over 66% from 2015 to 2020. Europe in more than 14 countries including Germany,
Poland and France is also is also anticipated to increase production of shale
gas over the forecast period owing to the abundant availability of reserves
which are in the initial maturity stage.
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Market Segment:
Global Shale Gas
Application Outlook (Volume, Bcf; Revenue, USD billion)
• Industrial
• Power
Generation
• Residential
• Commercial
•
Transportation
Shale Gas Regional
Outlook
• North
America
• U.S.
•
Canada
• Asia Pacific
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