Depleting reservoirs coupled with growing energy demand are the major factor driving the global shale gas market over the forecast period. Shift in trend toward the use of unconventional gases is further likely to complement the market growth. Growing energy demand cannot be met with the supply of conventional gases. Unconventional gases are alternative source of energy. Shale gas production is highly concentrated in U.S. and Canada, and the trend is expected to continue in this region over the foreseeable period. Environmental concerns over drilling coupled with excessive water usage are expected to hamper the market in Europe. Increasing crude oil prices have led to shift in focus toward unconventional source of energy. This trend is expected to drive the global shale gas market over the next six years. Favorable government regulation regarding shale exploration to meet the global energy demand is further likely to compel the market growth in near future.
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Power generation is the major application segment of shale gas. Favorable regulatory system regarding use of unconventional gas coupled with environmental issues regarding conventional energy form of power generation is expected to be the major factor driving the market over the foreseeable period. Shift in focus toward use of Compressed Natural Gas (CNG) and Liquefied Natural Gas (LPG) in Transportation is further likely to complement the global shale gas market. High production cost coupled with excessive water usage is expected to remain the major factor restraining the market over the forecast period. Shale gas exploration has led to extraction chemical leakage and greenhouse gas emission. This serious factor is likely to hinder the market growth over the foreseeable period.
North America was the major shale gas market in 2013, and is expected to experience significant growth over the next six years. In the recent past, the whole energy scenario was changed owing to shale gas exploration in U.S. Earlier U.S. was the net importer of conventional gas.
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However, rapid production activity and shale gas exploration have made the U.S. a net exporter in 2012. Asia pacific market is expected to witness considerable growth over the next six years owing to large number of untapped reservoirs in China. Foreign investors joint hand with Chinese companies to explore and produce shale gas to meet the global energy demand. This trend is further likely to create an ample opportunity for the market participant in this region. Through-out support from Chinese government in form of tax benefits and financial incentives is expected to propel the market in this region. Increasing oil prices has led the vehicle users in India and China to look for alternate source of fuel. This shift in focus toward alternate source is anticipated to have positive impact on shale gas market in Asia Pacific region. Environmental issue coupled with stringent government regulation regarding exploration of shale gas in France and Poland is expected to hamper the shale gas
market in Europe.
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Global shale gas market is highly competitive in nature, and is dominated by existing top players in the market. Shift in focus toward the use of unconventional energy coupled with increasing crude oil prices is likely to create an opportunity for new entrants as well as existing player in the market. Some key players operating in global market include Antero Resources, Anadarko Petroleum Corporation, BHP Billiton, Devon Energy, Cabot Oil & gas, EnCana Corporation, Reliance Industries Ltd., ExxonMobil, Statoil, Shell, Talisman Energy Inc., SM Energy and Total SA.
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