The global Shale gas market size was US$ 62.11 billion in 2021. The global Shale gas market size is forecast to reach US$ 130.5 billion by 2030, growing at a compound annual growth rate (CAGR) of 8.6% during the forecast period from 2022 to 2030.

Shale gas is a natural gas that occurs naturally in shale deposits, trapped inside microscopic or submicron pores. An important component of natural gas is a mixture of naturally occurring hydrocarbon gases that result from the decomposition of organic matter (plants and animals). The main hydrocarbon target of exploration firms is methane (CH4), which constitutes 70 to 90 percent of shale gas. It is used to generate electricity and for domestic heating and cooking. Aside from this, shale gas differs from conventional gas as it is an unconventional hydrocarbon because it extracts from rock that functions as a source, reservoir, and caprock.

Factors Influencing Market Growth 

• Shale gas offers a number of benefits, such as a lower price of natural gas, a smaller environmental footprint than coal, fuel oil, or natural gas, a greater level of energy security, and the availability of energy fuels, while also enabling local economic development. These are major factors driving global shale gas market growth.
• Recent advances in shale gas production technology, such as advances in horizontal drilling technology, are likely to make shale gas reservoirs more viable, which may offer growth opportunities for the global market during the forecast period.
• Shale gas production generates harmful emissions and requires a lot of water. As a result, there is a rise in environmental concerns, and opposition from activists may slow down the overall market. 

Impact Analysis of COVID-19

The COVID-19 pandemic has declined the growth of the shale gas market. In response, countries-imposed lockdowns in order to combat the spread of COVID-19. As a result, LNG facilities and investments in LNG production declined. Additionally, import and export activities declined, adversely affecting industries that use shale gas and the global shale gas market. 

Regional Insights

North America generated the largest revenue share in 2021 and is forecast to maintain its dominance over the forecast period. As the major contributor to the regional growth, the U.S. employs hydraulic fracturing in conjunction with horizontal drilling to drill for ultra-hard shale deep underground reserves in the United States. Technically regained shale reserves and active commercial production of shale in the region are factors driving the market growth in the region. 

Leading Competitors

The leading prominent companies profiled in the global shale gas market are:

• Southwestern Energy Company
• EQT Corporation
• Equinor ASA
• Repsol SA
• Sinopec Limited
• Chesapeake Energy Corporation
• Royal Dutch Shell PLC
• Exxon Mobil Corporation
• Chevron Corporation
• PetroChina 
• Other Prominent Players

Scope of the Report

The global shale gas market segmentation focuses on Technology, End-User, and Region.

Segmentation based on Technology

• Horizontal fracking
• Vertical fracking
• Rotary fracking

Segmentation based on End-User

• Residential
• Commercial
• Industrial
• Power generation
• Transportation

Segmentation based on Region

• North America
• The U.S.
• Canada
• Mexico
• Europe
• Western Europe
• The UK
• Germany
• France
• Italy
• Spain
• Rest of Western Europe
• Eastern Europe
• Poland
• Russia
• Rest of Eastern Europe
• Asia Pacific
• China
• India
• Japan
• Australia & New Zealand
• ASEAN
• Rest of Asia Pacific
• Middle East & Africa (MEA)
• UAE
• Saudi Arabia
• South Africa
• Rest of MEA
• South America
• Brazil
• Argentina
• Rest of South America