Market Size of Shale Gas Hydraulic Fracturing Industry
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | > 2.00 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Shale-Gas Hydraulic Fracturing Market Analysis
The shale gas production for the United States witnessed a growth rate of approximately 1.26% during 2017-2018. The overall market for shale gas hydraulic fracturing is greatly influenced by the increasing demand for gas. Also, the depleting resources of conventional oil and gas reserves have shifted the focus toward unconventional reserves, which is expected to have a positive impact on the shale gas hydraulic fracturing market. However, the environmental impact these processes have on groundwater and others is expected to pose a challenge.
- For the shale gas extraction, the horizontal and directional well type is expected to be the fastest-growing well type. The majority of wells active in the Permian Basin, as of 2018, were horizontal wells (more than 2,000). As of April 2019, the total number of drilled wells in the Permian basin reached 555, repressing an increase of around 4.7% compared to the previous year's value in the same month.
- Improvement in the hydraulic fracturing technique is expected to provide a great opportunity for the market studied.
- North America is anticipated to dominate the market globally, in future, with the majority of the demand coming from the United States and Canada.
