USD 2.23 billion growth in Oil Shale Market Size With 47% of the Contribution from North America – Technavio – QNT Press Release

NEW YORK, Sept. 5, 2022 /PRNewswire/ — The latest market analysis report titled Oil Shale Market by Application and Geography – Forecast and Analysis 2022-2026 has been added to Technavio’s catalog. The report predicts the market to witness an accelerating growth momentum at a CAGR of 14.18%. The analysts at Technavio have categorized the global oil shale market as a part of the global oil and gas exploration and production market within the global oil and gas market under the energy sector. Our report provides extensive information on the value chain analysis for the oil shale market, which vendors can leverage to gain a competitive advantage during the forecast period. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.

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The report on the oil shale market provides a holistic update, market size and forecast, trends, growth drivers, challenges, and vendor analysis. The rising use of oil shale across various industries is one of the key factors likely to influence market growth positively during the forecast period. Some countries, such as Israel, Jordanand Moroccoare interested in developing their oil shale resources since they have large quantities but lack alternative fossil fuels. Such factors are likely to positively impact the growth of the global oil shale market during the forecast period. However, The environmental impacts of shale oil extraction will be a major challenge for the oil shale market during the forecast period. The environmental effect of the global oil shale market takes into account concerns including land use, waste management, and water and air pollution caused by oil shale extraction and processing. The extraction of oil from shale has the potential to have a significant environmental impact. Such challenges are likely to affect the growth of the global oil shale market.

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This report extensively covers the oil shale market segmentation by application (electricity, fuel, cement, and others) and geography (North AmericaAPAC, Europe, Middle East and Africaand South America).

Regional Opportunities: 47% of the market’s growth will originate from North America during the forecast period. US and Canada are the key markets for oil shale in North America. Market growth in this region will be faster than the growth of the market in other regions. The rising depletion of non-renewable energy sources, the demand for a cost-effective alternative to conventional energy, and the region growing oil and energy industry will facilitate the oil shale market growth in North America over the forecast period.

Revenue-generating Insights: The oil shale market share growth in the electricity segment will be significant during the forecast period. In today’s world, where oil and electricity are becoming increasingly difficult to obtain, the appeal of generating shale oil and/or electric energy from oil shale has grown to the point where the country’s energy diversity has expanded in terms of both economic and strategic importance. Such factors are expected to contribute to the growth of the electricity segment during the forecast period.

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The oil shale market covers the following areas:

This report presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources by an analysis of key parameters

Oil Shale Market Sizing
Oil Shale Market Forecast
Oil Shale Market Analysis

Companies Mentioned
  • BP Plc: The company offers shale oil and gas, through its US onshore oil and gas business.
  • Chevron Corp.: The company develops tight oil and liquids-rich gas shales in the Permian region (Texas and New Mexico).
  • Eesti Energia AS: The company operates a 554 MW oil shale-fired power plant and a 10 million ton open cast mine in Jordan.
  • EQT Corp.:The company operates Marcellus and Utica Shale, which produces 72.9 million cubic feet of natural gas per day in a 24-hour period.
  • Independent Energy Partners Inc. The company generates oil and natural gas recovery from oil shale, coal, and a variety of other unconventional hydrocarbon resources.
  • Japan Petroleum Exploration Co. Ltd.
  • Oil and Natural Gas Corp. Ltd.
  • Shell plc

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Oil Shale Market Scope

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