This category majorly includes the Conventional Energy Market Research Reports. If we talk particularly about the conventional energy market, the booming shale gas market is the first thing that strikes to our mind. With the adoption of new technologies recently, shale gas market is expected to grow more in the future. The oil and coal markets are facing headwinds and in the midst of this, people are looking for alternate source of energy. The companies dealing in this segment have also adopted advanced technologies such as hydraulic fracturing and horizontal drilling which is also one of the key reasons for making shale gas available at lower prices.
Moving further, in our Conventional Energy Market Report, we will also focus on the crude oil market which is also a catchy market these days as its recent growth in consumption indicates. According to EIA reports, the global consumption for petroleum and other liquids has seen good growth to 1.1 million b/d in 2014 which is expected to grow by 1.3 million b/d and 1.4 million b/d respectively in 2015 and 2016 which is a solid growth opportunity for the Energy segment in the long-term. But on the other hand, the oil market is slightly dicey. The oil prices have fallen again in the recent times mainly due to the over-supply and massive absorption by the new start-ups in Asia, the Middle-East and Latin America. This has led to a fall in the prices by 10% recently.
This is a key reason behind this shale gas bonanza. In order to improve margins the companies are rapidly shifting towards natural gas. According to EIA reports the natural gas production has impressively increased to 76.5 Bcf/d in 2015 as compared to 73.5 Bcf/d in 2014. Considering this growth the natural gas consumption growth is expected to be largely driven by growing demand in the industrial and electric power sectors.