Shale gas refers to natural gas, trapped within shale rock. Shales are fine-grained sedimentary rocks which are rich sources of petroleum and natural gas. Natural gas produced from shale is often referred as unconventional source of energy. These underground shales are nothing but the type of rocks that are broken up by hydraulic fracturing.
Abundant availability of shale gas coupled with favorable government regulations in the North America region is expected to drive growth of the market over forecast period.
Rising demand for shale gas in several end use industries such as power generation industries owing to increasing awareness about benefits offered by shale gas such as low carbon emission than other gases which is a key factor driving growth of the global shale gas market. In addition, due to its cost effectiveness, shale gas is replacing conventional energy sources such as coal in several end use industries, which is other factor expected to support growth of the global shale gas market over forecast year.
However, stringent regulations for the production of shale gas is a key factor restraining growth of the global shale gas market over forecast period. As for the production of shale gas requires large amount of water, which may affect the availability of water in some regions. Therefore, many European countries are not allowed for the production of shale gas.
Furthermore, the mismanagement of recycle process of used water, which is further used in the other industries can be harmful to natural habitats if it gets mixed with clean water resources through exposure pathways or by leaks, spills. This is another factor may hamper the growth of the shale gas market.
The global shale gas market report has been segmented on the basis of technology, end-user, and region. On the basis of region, the global shale gas market is segmented in to North America, Europe, Asia Pacific, Latin America, Middle East & Africa.
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The market in North America accounted highest share in terms of revenue over forecast period as US has abundant availability of shale gas coupled with favourable government regulations in the North America region is a major factor is expected to drive growth of the market over forecast period. The market in Asia Pacific is expected to witness fastest growth in terms of revenue owing to availability of reservoir in China.
Key players in the global shale gas market includes Anadarko Petroleum Corporation, Antero Resources, BHP, Cabot Oil & Gas, Chesapeake, Devon Energy Corporation, Encana Corporation, Exxon Mobil Corporation, Reliance Industries Limited, Royal Dutch Shell.