PUBLISHER: Prescient & Strategic Intelligence | PRODUCT CODE: 1719357
PUBLISHER: Prescient & Strategic Intelligence | PRODUCT CODE: 1719357
The U.S. shale gas market is projected to grow from USD 36.6 billion in 2024 to USD 57.8 billion by 2032, at a compound annual growth rate (CAGR) of 6.0%. This growth is driven by the rising demand for natural gas in power generation, industry, and residential sectors, coupled with advances in extraction technologies such as horizontal drilling and hydraulic fracturing. Additionally, the depletion of conventional natural gas resources and the increasing environmental preference for cleaner fuels are propelling the demand for shale gas.
Key Insights
Horizontal drilling and hydraulic fracturing dominate the market, accounting for 55% of the share, as these methods allow for more efficient gas recovery from shale deposits.
Power generation is the largest and fastest-growing end-user, driven by the rising reliance on natural gas for electricity production due to its efficiency and lower carbon emissions compared to coal.
Dry gas holds the largest share, contributing 65% of the market in 2024, with significant utilization in power and industrial applications due to its high purity.
Wet gas is growing rapidly due to its valuable by-products like propane and butane, which are in demand in the petrochemical industry.
The Northeast remains the largest region for shale gas production, while the South is the fastest-growing, fueled by increased exploration and production in basins like the Permian.