Product Code: 67281
The shale gas production for the US has witnessed a growth rate of approximately 1.26% during the period of 2017-2018. The global 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 towards unconventional reserves, and this is expected to have a positive bearing on the global shale gas hydraulic fracturing market. However, the environmental impact these processes have for 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 the wells active in the Permian Basin as of 2018 are 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 to dominate the market across the globe in the future, with the majority of the demand coming from the United States and Canada.
Key Market Trends
Horizontal and Directional Well Type to Witness a Significant Growth
- New technique of horizontal drilling and combining it with the pre-existing hydraulic fracturing techniques making it favorable for drilling in shale gas regions.
- The United States can be considered as the country, which has benefited the most from the combination of horizontal drilling and hydraulic fracturing as the country has abundant shale reserves. The shift from vertical to horizontal wells is the most important change to occur over the last decade, allowing for greater formation access, while only incrementally increasing the cost of the well.
- Since 2010, horizontal drilling activity has dominated and accounts for most of the drilling activity. Therefore, an increase in horizontal well drilling activities propels the high production of shale gas through hydraulic fracturing.
- Also, horizontal drilling is economically viable as it covers the maximum surface of the strata (cap rock) in which shale gas is preserved.
North America to Dominate the Market
- North America is anticipated to lead the worldwide market for shale gas soon in terms of sales. As of 2018, this region holds more than two-third of the overall market in terms of the volume and the value.
- In the United States, the production from Marcellus/Utica shale is expected to account for most of the growth in gas production.
- In December 2018, U.S. shale and tight plays produced about 65 billion cubic feet per day (Bcf/d) of natural gas (70% of total U.S. dry gas production) and about 7 million barrels per day (b/d) of crude oil (60% of total U.S. oil production).
- Hence, the increasing dominance of the US in shale gas hydraulic fracturing is reforming the overall energy scenario of North America and is expected to account for a strong impact on the energy domain, worldwide.
- Also, the availability of resources including manpower and advanced technology is also favoring the growth of the North America shale gas hydraulic fracturing.
The global shale gas hydraulic fracturing market is fragmented. The major companies include Chevron Corporation, Exxon Mobil, Sinopec Ltd., Marathon Oil, and Royal Dutch Shell Plc.
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Table of Contents
- 1.1 Scope of the Study
- 1.2 Market Definition
- 1.3 Study Assumptions
- 1.4 Research Phases
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET OVERVIEW
- 4.1 Introduction
- 4.2 Market Size and Demand Forecast in USD million, till 2025
- 4.3 Crude Oil Historic Trend and Production Forecast, till 2025
- 4.4 Brent Crude Oil and Henry Hub Spot Prices Forecast, till 2025
- 4.5 Natural Gas Historic Trend and Production Forecast, till 2025
- 4.6 Key Projects Information
- 4.7 Recent Trends and Developments
- 4.8 Government Policies and Regulations
- 4.9 Market Dynamics
- 4.9.1 Drivers
- 4.9.2 Restraints
- 4.10 Supply Chain Analysis
- 4.11 Porter's Five Forces Analysis
- 4.11.1 Bargaining Power of Suppliers
- 4.11.2 Bargaining Power of Consumers
- 4.11.3 Threat of New Entrants
- 4.11.4 Threat of Substitutes Products and Services
- 4.11.5 Intensity of Competitive Rivalry
5 MARKET SEGMENTATION
- 5.1 Well Type
- 5.1.1 Horizontal and Directional
- 5.1.2 Vertical
- 5.2 Geography
- 5.2.1 North America
- 5.2.2 Asia-Pacific
- 5.2.3 Europe
- 5.2.4 South America
- 5.2.5 Middle-East and Africa
6 COMPETITIVE LANDSCAPE
- 6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
- 6.2 Strategies Adopted by Leading Players
- 6.3 Market Share Analysis
- 6.4 Company Profiles
- 6.4.1 Chevron Corporation
- 6.4.2 ExxonMobil
- 6.4.3 CNPC
- 6.4.4 Sinopec Ltd.
- 6.4.5 Marathon Oil
- 6.4.6 BP PLC
- 6.4.7 Baker Hughes Co.
- 6.4.8 Exxon Mobil Corporation
- 6.4.9 Royal Dutch Shell Plc
7 MARKET OPPORTUNITIES AND FUTURE TRENDS