Shale Gas Market is Expected to Reach $104.1 Billion, Globally, by 2020 – Allied Market Research
Portland, Oregon – (September 16, 2014) According to a new market research report by Allied Market Research titled, “Global Shale Gas Market (Technology, Application and Geography) – Industry Analysis, Trends, Share, Opportunities and Forecast, 2013 – 2020″ the global shale gas market is forecast to reach $104.1 billion by 2020, registering a CAGR of 9.3% during the forecast period (2014 – 2020). The corresponding volume consumption will reach 19,619.4 bcf in the same year. The advent of hydraulic fracturing and horizontal drilling techniques has nearly doubled the efficiency of shale gas retrieval from plays, revolutionizing the shale gas market. China is a major Asian country to propel the demand aided by insatiable energy needs and increasing dependence on natural gas.