The Business Research Company’s Shale Gas Global Market Report 2020-30: COVID-19 Growth And Change
LONDON, GREATER LONDON, UK, March 31, 2021 /EINPresswire.com/ — Our reports have been revised for market size, forecasts, and strategies to take on 2021 after the COVID-19 impact: https://www.thebusinessresearchcompany.com/global-market-reports
Modular production systems in the gas industry are becoming popular as they are cost-effective, can extract gas within a short period and are more profitable than conventional methods. A modular system is an integrated field facility with prefabricated equipment, piping, instrumentation and others installed between the well and the pipeline for gas processing applications. This system helps in shortening the project timeline, providing cost-effective fabrication, better quality and improved safety. For instance, PROPAK, a Canada-based company that specializes in gas production packages using modularized processing plants. SIIRTEC NIGI, an Italy-based engineering and contracting company, utilizes the design and supply of skid-mounted and modular packages for gas processing, Sulphur recovery and others. Honeywell UOP, a company creating modular systems for shale gas retrieval states that modular systems can be ready for the startup in around 10 months whereas conventional stick-built, permanent wells, require 21 months to be startup-ready.
Other shale gas market trends include mergers and acquisitions. In October 2020, Noble Energy, Inc., an oil and natural gas exploration and production firm, was acquired by Chevron Corporation for a disclosed amount. The Noble Energy, Inc. acquisition would provide Chevron Corporation with low-cost, proven reserves and desirable undeveloped oil and natural gas resources. Furthermore, it will improve the role of Chevron in the Eastern Mediterranean region and the U.S.
Major players in the shale gas industry are Royal Dutch Shell PLC, Exxon Mobil Corporation, PetroChina Company Limited, ConocoPhillips, Chevron Corporation, Antero Resources, Anadarko Petroleum Corporation, Baker Hughes Incorporation, Statoil, Equinor ASA, Repsol SA, SINOPEC/Shs, Range Resources, Pioneer Natural Resources, Reliance Industries Limited, SM Energy, EQT Corporation, and Cabot Oil & Gas.
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The global shale gas market size is expected to grow from $55.58 billion in 2020 to $61.51 billion in 2021 at a compound annual growth rate (CAGR) of 10.67%. The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The global shale gas market is expected to reach $99.99 billion in 2025 at a CAGR of 12.92%.
TBRC’s shale gas market analysis report is segmented by technology into exploration & drilling, fracturing fluid and by application into power generation, industrial, residential, commercial, transportation.
Shale Gas Global Market Report 2020-30: COVID-19 Growth And Change is one of a series of new reports from The Business Research Company that provides shale gas market overview, forecast shale gas market size and growth for the whole market, shale gas market segments, and geographies, shale gas market trends, shale gas market drivers, restraints, leading competitors’ revenues, profiles, and market shares.
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