Asia-Pacific power generation accounted for highest shale gas consumption (37% in 2015), expected to grow at CAGR of 45.5%
The North American shale gas market is expected to maintain its foothold in the market throughout the analysis period registering a compound annual growth rate (CAGR) of 12.6 per cent, in terms of revenue, according to a report from Research and Markets.
Shale gas is emerging as an ideal energy source, owing to its abundancy, low carbon foot print and comparatively low price than conventional energy sources such as conventional natural gas, coal, nuclear and hydro.
- Global shale gas consumption estimated to grow at CAGR of 12.6%
- Water scarcity may hamper hydraulic fracturing and impede production
- North America expected to remain highest revenue-generating region during forecast period due to ample availability of technically recoverable shale reserve and favorable government regulations
- Unstructured regulatory framework in European countries may hinder producers to some extent
- Europe Could exhibit CAGR of 59.5%, in terms of volume, due to presence of shale gas reserves in more than 14 countries and rising demand for natural gas
- Growth of Asia-Pacific market is attributed to continuous investment by producers in domestic production, continuous decrease in the cost of shale well drilling, and rising LPG costs