Market Size of United States Shale Business Overview
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2020 - 2022 |
| CAGR | > 3.50 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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US Shale Market Analysis
The US shale market is expected to register a more than 3.5% CAGR between 2022 and 2027. COVID-19 has brought the most significant change in the industry since the beginning of the shale boom in 2007. The pandemic has impacted the market's growth as the companies operating in the US shale companies witnessed a decrease of around 60% in Q1 2020. Around 200 companies filed for bankruptcy in 2020. The US shale industry has suffered from the reduction in the overall rig count and has encountered relatively steep decline rates of shale wells, which has impacted the market and lowered the price. Factors such as increased oil consumption and the rising growth in oil-dependent industries are expected to drive the market. However, volatility in the oil market with prices going below the shale gas production cost may restrain.
- Because of its increased production, the shale gas sub-segment is expected to dominate the market during the forecast period 2022-2027.
- 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.
- Increasing deepwater activities are expected to drive the market during the forecast period.
