Market Size of Shale Oil Industry
| Study Period | 2021 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | > 5.00 % |
| Fastest Growing Market | North America |
| Largest Market | North America |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Shale Oil Market Analysis
The shale oil market is expected to register a CAGR of more than 5% over the forecast period (2022-2027).
The market was seriously impacted by the Covid-19 pandemic, as fracking crews had to halt operations due to tanking global oil prices.
- Factors such as an increase in consumption of petrochemicals and rising growth in the petrochemical-dependent industries which use plastics and polymers are expected to drive the market.
- On the flip side, environmental concerns about fracking practices is expected to restrain the market during the forecast period.
- New development in the shale oil production technology, like the advancements in horizontal drilling technology, is expected to make the shale oil reservoirs more viable and may provide an opportunity for market players.
