Shale Gas Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)

The report covers Global Shale Gas Trends & Share. The market is segmented by Geography (North America, South America, Asia-Pacific, Europe, and Middle-East and Africa).

Shale Gas Market Size

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Shale Gas Market Summary
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Study Period 2021 - 2029
Base Year For Estimation 2023
CAGR > 9.00 %
Fastest Growing Market Asia Pacific
Largest Market North America
Market Concentration Low

Major Players

Shale Gas Market Major Players

*Disclaimer: Major Players sorted in no particular order


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Shale Gas Market Analysis

The shale gas market is expected to register a CAGR of more than 9.0% from 2022 to 2027.

COVID-19 has brought the most significant change in the industry since the beginning of the shale boom in 2007.

  • Factors such as an increase in oil consumption and the rising growth in oil-dependent industries are expected to drive the market in the long term. On the other hand, volatility in the oil market with prices below the shale gas production cost and increasing environmental concerns during shale gas production are two critical restraints in the market.
  • Nevertheless, the new developments in shale gas production technology, like the advancements in horizontal drilling technology, are expected to make shale gas reservoirs more viable. This may provide an opportunity for market players.
  • North America is expected to be the largest market in the forecast period, owing to its large-scale production of shale gas in the region. The United States is expected to lead shale gas production in the area.

Shale Gas Market Trends

This section covers the major market trends shaping the Shale Gas Market according to our research experts:

North America to Dominate the Market

  • The United States is the largest producer of shale gas in the world. Different countries, such as Brazil, Canada, China, and Argentina, have tried to emulate the American shale boom but have not been able to succeed. However, large progress has been made in China, but due to the difficulties posed by the unstable reservoirs, shale gas production may only rise slightly in the forecast period.
  • Shale gas production in the United States increased by more than 70% in the previous seven years and reached 26,139 billion cubic feet (bcf) in 2021 from 15,213 in 2015. Shale gas production may increase further due to new wells being drilled across the country.
  • While Canada is known to have significant conventional gas reserves, and the country was a key supplier of natural gas to the United States for decades until the recent shale boom in the country. However, with conventional natural gas sources in decline, Canada's industry is turning to unconventional sources, including shale gas. Many oil and gas companies are now exploring and developing shale gas resources in Alberta, British Columbia, Quebec, and New Brunswick, which may balance the difference in shale gas production in the coming future.
  • An Energy Information Agency (EIA) estimation shows that the US dry shale gas production in 2020 was about 850 bcm. The current scenario of the region may demand more natural gas supply during the forecast period, which may attract investment in the exploration and production of shale gas.
  • Hence, North America is expected to dominate the market due to the overwhelming production of shale on the continent.
Shale Gas Market : Shale Gas Production, in billion cubic feet (bcf), United States, 2015-2022

Increasing Environmental Concerns to Restrain the Market

  • Methane gas emissions during the drilling process pose potential air pollution risks. Additionally, incorrect disposal of large volumes of chemically treated water used in hydraulic fracturing operations can potentially cause severe surface water contamination. This has attracted criticism from environmental protection bodies and NGOs around the world. Due to its impact on health and farming, local farmers and residents have repeatedly opposed hydraulic fracturing.
  • Additionally, a typical fracking well requires approximately 2-10 million gallons of water during fracking operations, which puts additional strain on the water supply, particularly in drought-prone regions.
  • In 2021, North America and Asia-Pacific recorded the world's highest carbon dioxide emissions. While Europe, the Middle East, and Africa tend to have the lowest emission.
  • Recently in West Texas of the United States, where the Permian Basin (expected to drive the growth of shale gas activities in the United States) is located, shale gas companies faced opposition and criticism from the farmers due to the water shortage.
  • The US Geological Survey (USGS) blamed shale gas activities for the increase in earthquakes in recent times in certain parts of the Central and Eastern United States that are well-known for oil and gas extraction.
  • Thus, the increasing environmental concerns are expected to restrain the market during the forecast period.
Shale Gas Market:Carbon dioxide emissions from energy, in Million tonnes of carbon dioxide, Global, 2021

Shale Gas Industry Overview

The shale gas market is moderately fragmented due to many companies operating in the industry. The key players in this market include (in no particular order) Chesapeake Energy Corporation, Royal Dutch Shell PLC, Exxon Mobil Corporation, PetroChina Company Limited, and ConocoPhillips, among others.

Shale Gas Market Leaders

  1. Royal Dutch Shell PLC

  2. Exxon Mobil Corporation

  3. ConocoPhillips Company

  4. Chevron Corporation

  5. PetroChina Company Limited

*Disclaimer: Major Players sorted in no particular order

Shale Gas Market  Concentration
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Shale Gas Market News

  • In December 2022: China produced over 53 billion cubic meters of shale gas from its Fuling shale gas field since 2012 when it was discovered. The shale gas field has proven reserves of 897.5 billion cubic meters (bcm), which are reported to be around 34% of the country's proven reserves. Moreover, the shale gas field witnessed annual output grow from 142 million cubic meters in 2013 to more than 8.5 billion cubic meters in 2021.
  • In November 2022: Hungary is looking for shale gas exploration through its Corvinus project. The natural gas field in Bekes county is being looked upon for shale gas extraction at a depth of 3,700-4,500 meters. The concerned project is regarded as a priority investment by the Hungarian Government, and the successful findings of shale gas may last up to a century.

Shale Gas Market Report - Table of Contents


    1. 1.1 Scope of the Study

    2. 1.2 Market Definition

    3. 1.3 Study Assumptions




    1. 4.1 Introduction

    2. 4.2 Shale Gas Production and Forecast in billion cubic meter (BCM), until 2027

    3. 4.3 Recent Trends and Developments

    4. 4.4 Government Policies and Regulations

    5. 4.5 Market Dynamics

      1. 4.5.1 Drivers

      2. 4.5.2 Restraints

    6. 4.6 Supply Chain Analysis

    7. 4.7 Porter Five Forces

      1. 4.7.1 Bargaining Power of Suppliers

      2. 4.7.2 Bargaining Power of Consumers

      3. 4.7.3 Threat of New Entrants

      4. 4.7.4 Threat of Substitutes Products and Services

      5. 4.7.5 Intensity of Competitive Rivalry


    1. 5.1 Geography

      1. 5.1.1 North America

      2. 5.1.2 South America

      3. 5.1.3 Asia-Pacific

      4. 5.1.4 Europe

      5. 5.1.5 Middle-East and Africa


    1. 6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements

    2. 6.2 Strategies Adopted by Leading Players

    3. 6.3 Company Profiles

      1. 6.3.1 Antero Resources Corp.

      2. 6.3.2 Southwestern Energy Company

      3. 6.3.3 EQT Corporation

      4. 6.3.4 Equinor ASA

      5. 6.3.5 Repsol SA

      6. 6.3.6 SINOPEC/Shs

      7. 6.3.7 Chesapeake Energy Corporation

      8. 6.3.8 Royal Dutch Shell PLC

      9. 6.3.9 Exxon Mobil Corporation

      10. 6.3.10 Chevron Corporation

      11. 6.3.11 PETROCHINA/Shs

      12. 6.3.12 ConocoPhillips

      13. 6.3.13 Pioneer Natural Resources

    4. *List Not Exhaustive

**Subject to Availability
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Shale Gas Industry Segmentation

Shale gas is the natural gas enclosed within shale formations or the pores of this sedimentary rock. Over the years, it has attracted huge investments as an unconventional primary resource to overhaul the global energy market. Over the last decade, factors such as supply reliability and the recent technological interventions in horizontal drilling and hydraulic fracturing have enhanced the production of natural gas from tight shale formations. The market sizing and predictions for the segment have been done based on revenue (USD million).

North America
South America
Middle-East and Africa
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Shale Gas Market Research FAQs

The Shale Gas Market is projected to register a CAGR of greater than 9% during the forecast period (2024-2029)

Royal Dutch Shell PLC, Exxon Mobil Corporation, ConocoPhillips Company, Chevron Corporation and PetroChina Company Limited are the major companies operating in the Shale Gas Market.

Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).

In 2024, the North America accounts for the largest market share in Shale Gas Market.

The report covers the Shale Gas Market historical market size for years: 2021, 2022 and 2023. The report also forecasts the Shale Gas Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.

Shale Gas Industry Report

Statistics for the 2024 Shale Gas market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Shale Gas analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.

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Shale Gas Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)