DUBLIN--(BUSINESS WIRE)--The "Shale Gas Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)" report has been added to ResearchAndMarkets.com's offering.
The shale gas market is expected to grow at a CAGR of more than 9.0% over the period of 2021-2026.
he COVID-19 has brought the largest change in the industry since the beginning of the shale boom, in 2007. The pandemic is expected to impede the growth of the market with most of the risky assets being restructured and many companies either leaving or soon to leave the basins till the price point becomes profitable.
Factors such as an increase in consumption of oil and rising growth in the oil-dependent industries are expected to drive the market. However, volatility in the oil market with prices going below the Shale Gas production cost may act as a restraint to the market.
Increasing environmental concerns during the production of shale gas are expected to restrain the market studied.
New development in the Shale Gas production technology, like the advancements in horizontal drilling technology, is expected to make the Shale Gas reservoirs more viable and may provide an opportunity for market players.
North America is expected to be the largest market in the forecast period owing to its large-scale production of Shale Gas in the region. The United States is expected to lead the Shale Gas production in the region.
Increasing Environmental Concerns to Restrain the Market
The shale gas market is moderately fragmented due to many companies operating in the industry. The key players in this market include Chesapeake Energy Corporation, Royal Dutch Shell PLC, Exxon Mobil Corporation, PetroChina Company Limited, and ConocoPhillips, among others.
4.2 Shale Gas Production and Forecast in billion cubic meter (BCM), until 2026
6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
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