The US shale gas hydraulic fracturing industry is expected to witness significant growth over the next five years partially due to government initiatives to substitute natural gas for nuclear energy and carbon-intensive fuels.
The US shale gas hydraulic fracturing industry is expected to witness significant growth over the next five years partially due to government initiatives to substitute natural gas for nuclear energy and carbon-intensive fuels. In the US, the shale gas hydraulic fracturing industry is expected to reach an estimated $15.5 billion in 2018.An abundance of shale gas resources and improving drilling technologies, along with improving supply and distribution infrastructure are combining to drive the industry.
Lucintel, a leading global management consulting and market research firm, has conducted a competitive analysis on the industry and presents its findings in "US Shale Gas Hydraulic Fracturing Industry 2013-2018 Trend, Profit, and Forecast Analysis."US shale gas hydraulic fracturing industry is consolidated with the presence of large companies in the market. Major players such as Halliburton Company, Schlumberger Limited, and Baker Hughes Incorporated dominate the industry. The competitive landscape changed in 2012 as compared to 2007 as FTS International (formerly Frac Tech) acquired the fourth position by replacing Trican Well Service Ltd.
As indicated in the study, the presence of enormous and relatively easy to access shale gas reserves in the US will drive market growth in the future. A growing number of permits for drilling in recent years has boosted the market and will continue to do so in the near future. Large investments by upstream industry players and the use of environment-friendly techniques are anticipated to drive the industry in the future. Shale gas is estimated to account for nearly 50% of future US natural gas production. The possibility of drinking water contamination by fracking fluids is one of the industry's major issues. A deep shale gas well hydraulic fracturing operation requires enormous amounts(3 million to 5 million gallons) of water.
Lucintel research indicates the industry should concentrate on the various environmental impacts related to hydraulic fracturing, which will create growth opportunities for the industry. The use of foam can help companies in addressing public concerns on environmental effect of fracturing.
The report provides an overview of the industry with trend and forecast analysis. For a detailed table of contents and pricing information on this timely, insightful report, contact Lucintel at +1-972-636-5056 or via email at firstname.lastname@example.org. Lucintel offers a broad range of Solar Market Report and Wind Market Report.