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Global Shale Gas Market Is Expected to Reach $130.3 Billion by 2030: Says AMR

Extensive use of shale gas for generating electricity, increase in consumption of oil among people, significant surge in the number of oil-dependent industries, and wide application of shale gas for domestic heating and cooking purposes are expected to drive the growth of the global shale gas market. Based on technology, the vertical fracking segment held the largest market share in 2020. Based on region, the LAMEA region is expected to cite the fastest CAGR by 2030.

/EIN News/ -- Portland, OR, June 06, 2022 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global shale gas market generated $57.2 billion in 2020, and is projected to reach $130.3 billion by 2030, growing at a CAGR of 8.5% from 2021 to 2030.The report provides an in-depth analysis of the top investment pockets, top winning strategies, drivers & opportunities, market size & estimations, competitive scenario, and wavering market trends.

Extensive use of shale gas for generating electricity, increase in consumption of oil among people, significant surge in the number of oil-dependent industries, and wide application of shale gas for domestic heating and cooking purposes are expected to drive the growth of the global shale gas market. On the other hand, environmental concerns on the production of shale gas are expected to hamper the growth to some extent. However, growth in the popularity of horizontal drilling technology for the production of shale gas is expected to create ample opportunities for the growth of the industry.

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COVID-19 Scenario

  • The outbreak of COVID-19 has had a negative impact on the growth of the global shale gas market, owing to the occurrence of lockdowns in various countries across the globe. Lockdowns resulted in the closure of various industries manufacturing units, including those of shale gas due to the stringent social distancing regulations imposed by the government so as to limit the spread of the virus during the pandemic.
  • In addition, volatility in the prices of crude oil during the pandemic further aggravated the impact on the market,
  • However, the market is predicted to recoup soon.

The report offers a detailed segmentation on the global shale gas market based on technology, end-user and region.

Based on technology, the vertical fracking segment held the largest market share in 2020, garnering nearly half of the total market. The horizontal fracking segment, on the other hand, is predicted to cite the fastest CAGR of 8.8% during the forecast period.

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Based on end-user, the power generation segment held the majority market share in 2020, holding nearly two-fifths of the total market. The transportation segment, on the other hand, is anticipated to exhibit the fastest CAGR of 9.1% during the forecast period.

Based on region, the market across North America held the lion’s share in 2020, garnering more than three-fourths of the total market. The LAMEA region, on the other hand, is predicted to cite the fastest CAGR of 8.9% during the forecast period.

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The key players analyzed in the global shale gas market report include Southwestern Energy Company, EQT Corporation, Equinor ASA, Repsol SA, SINOPEC/Shs, Chesapeake Energy Corporation, Royal Dutch Shell PLC, Exxon Mobil Corporation, Chevron Corporation and PETROCHINA/Shs.

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About us:

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

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