Oil Shale Market to Reach $5.63 Bn, Globally, by 2025 at 16.7% CAGR, Says Allied Market Research

PORTLAND, Oregon, September 20, 2018 /PRNewswire/ --

Burgeoning demand for energy worldwide, depleting reserves of crude oil, and reduction in energy dependence after the advent of oil shale would propel the growth of the global oil shale market

Allied Market Research published a report, titled, "Global Oil Shale Market by Product Type (Oil, Gas, Coke, and Others), Process (Ex situ and In situ), and Application (Electricity, Fuel, Cement, and Others): Global Opportunity Analysis and Industry Forecast, 2018-2025." The report offers an extensive analysis of the market size & share, key winning strategies, drivers, restraints, & opportunities, market landscape, and top investment pockets. According to the report, the oil shale market garnered $1.6 billion in 2017, and is estimated to reach $5.63 billion through 2025 in five current commercialized country markets across the globe, registering a CAGR of 16.7% from 2018 to 2025.

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The factors aiding the growth of the global oil shale market include concerns about depleting crude oil reserves, surge in energy requirement globally, and benefits offered by oil shale such as reduction in energy dependence. However, high costs of equipment, mining, and processing technologies have resulted in increased cost of extracting oil from oil shale, which in turn is expected to hamper the growth of the industry. Conversely, developments in extraction techniques for obtaining kerogen from oil shale coupled with improvements in drilling techniques are expected to provide lucrative opportunities for the growth of the market in future.

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Oil - most lucrative product segment 

The oil segment accounted for more than two-thirds of the total market share in 2017. It is expected to grow at the fastest CAGR of 16.9% from 2018 to 2025 on account of the large oil reserves present in oil shale. Moreover, the report analyzes several products such as gas, coke, and others.

Ex situ process segment to be largest revenue contributor, in situ to exhibit fastest growth 

The ex situ segment accounted for nearly three-fourths of the total market share in 2017. This segment would maintain its lead throughout 2025, as the oil shale industry uses surface mining to excavate oil shale.  However, the in-situ segment would grow at the fastest CAGR of 18.8% from 2018 to 2025 due to advancements in drilling technologies coupled with less pollution of ground water.