The US shale gas hydraulic fracturing industry is expected to witness good growth over the next five years with the market reaching an estimated $15.5 billion in 2018.
The US shale gas hydraulic fracturing industry is expected to witness good growth over the next five years with the market reaching an estimated $15.5 billion in 2018.The abundance of shale gas resources in the US, decreasing natural gas prices, and improving hydraulic fracturing techniques are the key drivers for 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."The industry comprises companies that engage in providing services related to hydraulic fracturing for the extraction of shale gas in the US.
The US shale gas hydraulic fracturing industry is highly regulated, as it must meet stringent government and environmental regulations. As indicated in the study, rising oil prices have triggered the demand for more shale gas supplies, which is one of the major drivers for the current natural gas boom.
Shale gas demand is expected to grow due to the virtue of its lower price, lower carbon emission replacement for coal plants, and as a backup power source for renewable energy sources. Stringent government regulations and public opposition are key challenges for US shale gas hydraulic fracturing industry. The industry needs to focus more on the environmental impacts of shale gas hydraulic fracturing for further growth to occur in the industry.
Environment-friendly hydraulic fracturing fluid systems and flow channel hydraulic fracturing systems are the emerging trends that are expected to usher growth into the industry by enhancing the productivity and reducing environmental impacts.
This study provides an overview of the US shale gas hydraulic fracturing industry. This report includes the use of hydraulic fracturing for the extraction of unconventional shale gas in the United States only. The report provides annual trends analysis for the past five years (2007-2012) and forecasts for the next five years (2013-2018).
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