Regarding end-users, shale gas market is segmented into industrial, commercial, power generation,
transportation, and residential. Owing to its low price compared to other fossil fuels, the market is
anticipated to replace conventional sources such as coal, nuclear and hydro especially in chemical,
fertilizer and hydrogel production industries.
Global conventional energy reserves are not able to fulfill the demand owing to developing per capita
consumption of energy in developing countries majorly in Asia-Pacific. Till now, shale gas production
is limited to North America such as Canada and U.S. In Asia Pacific region production started in 2015
as large shale gas reserves have been discovered. Foreign investors also have recently ventured the
market along with entering into various mergers and acquisitions with companies to utilize the
potential in this region.
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The key factors driving the market are anticipated to be the abundance of shale gas globally however
yet not matured reserves in several locations such as India and Indonesia, improved supply and
distribution network, enhanced drilling technology and decline in prices of conventional energy
sources.
However, the involvement of higher capital investment for shale gas exploration and production, and
other issues such as water contamination on hydraulic fracturing are expected to restrain the industry
growth over the forecast period. Also, other environmental issues such as methane release owing to
hydraulic drilling and public opposition have hindered the market mostly in the European countries
such as Poland and France.
Also, various energy and government agencies globally have initiated many programs for developing
and producing shale gas. Some of these agencies are Energy Information Administration (EIA) U.S.,
Gas Shale in Europe (GASH), German Research Centre for Geosciences (GFZ). Recently, countries such
as China, Poland, Jordan and India have participated in the initiative program.
Application Insights:
Industrial, residential, commercial, transportation and power generation are the key application
sectors. In 2013, power generation was the major application segment accounted for more than 30%