The shale gas hydraulic fracturing market in Canada, the US, and China is expected to reach a volume of 32.1 thousand units in 2023. It is projected to grow at a compound annual growth rate (CAGR) of 10.9% from 2023 to 2033, surpassing 90.3 thousand units by the end of the forecast period.
Key Insights from Future Market Insights’ Report:
- US Market Dominance: The US will continue to lead the shale gas market, benefiting from technological innovations and its vast recoverable reserves, particularly in areas like the Marcellus Shale.
- Canada and China Growth: Both Canada and China are poised for significant growth, with China projected to achieve the highest CAGR of 21.2%, reflecting its expanding shale gas industry.
- Technological Advancements: The plug and perforation technology remains dominant in the US, accounting for over 70% of the total production volume, and is expected to maintain its lead through 2027.
- Power Generation Leading Application: Power generation holds the largest share of the US shale gas market, followed by industrial applications, but other sectors such as transportation and residential are expected to grow rapidly during the forecast period.
- Environmental Concerns: Despite the growth, challenges such as high water consumption and potential environmental pollution from hydraulic fracturing processes may pose risks to the market’s long-term growth.
This robust expansion in shale gas production, driven by favorable technology, low-cost energy resources, and growing demand, is expected to continue, with the US market remaining a global leader throughout 2027.
List encompassing key players operating in Canada, the United States of America, and China shale gas hydraulic fracturing market:
- Exxon Mobil Corporation
- Royal Dutch Shell Plc.
- Keane Group
- DEVON ENERGY CORPORATION.
- BNK Petroleum Inc.
- Anadarko
- EQT Corporation, Statoil,
- ConocoPhillips Company
- Chevron
- Pioneer Natural Resources
- Repsol USA
- Southwestern Energy
- Cabot Oil & Gas Corporation
- Sanchez Energy Corporation.
- EOG Resources, Inc.
- China National Petroleum Corporation
Canada, the United States of America, and China Shale Gas Hydraulic Fracturing Market by Category
Application:
- Commercial
- Industrial
- Power Generation
- Residential
- Transportation
Technology:
- Plug and Perforation
- Sliding Sleeve
Region:
- The United States of America
- Canada
- China
Report Preview: https://www.futuremarketinsights.com/reports/shale-gas-hydraulic-fracturing-market
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