Shale gas is an unconventional natural gas trapped within shale formations, which is then explored through various technologies such as horizontal drilling, hydraulic featuring, etc. The depleting reserves of natural resources compelled the gas industries to focus on the unconventional resources such as shale gas. Shale gas holds the largest share of the global natural gas market. Due to the presence of huge shale gas resources in the region, U.S.A. is the biggest producer of natural gas and also the largest exporter of LNG (liquefied natural gas) and pipeline gases.
The major players in the global shale gas market are Baker Hughes Incorporated, Anadarko Petroleum Corporation, Bhp Billiton limited, Eog resources, Inc., Bp plc, Conocophillips, Royal Dutch shell plc, Exxonmobil, Statoil SA, Total SA, Reliance industries ltd. and Chesapeake energy corporation. As one of its market expansion strategy, Anadarko Petroleum Corporation has installed the SPAR platform at the Lucius field in the Gulf of Mexico. British Petroleum (BP) has established a separate business unit for the U.S. market to strengthen the countries shale oil and gas business.
The global shale gas market is segmented based on technology, application and geography. Based on technology, the market is further divided into horizontal drilling, hydraulic fracturing and water usage issue. Based on application, the market is further segmented into industrial, power generation, commercial, residential and transportation. Among all, shale gas is widely used in the industrial and power generation application. Based on geography, the market is segmented into North America, Europe, Asia Pacific and LAMEA. U.S. dominates the global market in terms of production and revenue as well.
Key Market Segments:
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