Shale Shakers Market Expected to Reach $2.8 Billion by 2031 | Growing at a CAGR of 5.9%.
The shale shakers market size was valued at $1.6 billion in 2021, and is estimated to reach $2.8 billion by 2031, growing at a CAGR of 5.9% from 2022 to 2031.
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Shale shakers are powerful vibrating components that are used to remove undesired solids from fracking mud in order to extract more mud and increase the efficiency of mining, coal, and drilling rigs. It find an extensive range of applications in the field of mining, plastic, chemical, food and beverages, and coal cleaning sectors, shale shakers are also used in oil and gas drilling applications. In a simple line, it is a crucial component of a solid control system used in drilling rigs to separate out large solid particles from drilling fluid.
Increase in the demand for shale shaker to provide superior cutting conveyance and to provide liquid retention in drilling operations has boosted linear shale shaker grow which has a positive impact on the Shale shaker market. The above-mentioned factors are expected to have a positive impact on the demand for the Shale shaker market. Additional growth strategies such as research & innovation in the technology and major investment in offshore oil & gas projects have led to attaining key developments in the global Shale shaker market trends.
By product type, the triple deck segment dominates the global shale shaker market forecast. Rapid industrialization and increase in population have led to an increasing in demand for coal, food and beverages and chemicals, which is expected to drive demand for Shale shaker across the globe. Moreover, rapidly growing petrochemical industries due to high demand for natural gas, diesel, gasoline, and other factors are fueling shale shakers market growth. The above-mentioned factors are projected to provide ample opportunities for the development of the market during the forecast period.
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By application, the oil & gas drilling segment dominates the global shale shaker market. The rise in onshore drilling activities across the globe is expected to drive the demand for the Shale shaker market. Increase in population with rapid industrialization across the globe have led to the demand for energy resources, which led to an increase in investment in the exploration of oil fields on the mainland.
The presence of utilization of coal resources in various sectors will boost the demand for coal cleaning, which will drive the demand for the Shale shaker market. The above-mentioned factors are projected to provide ample opportunities for the development of the market during the forecast period.
The Shale Shakers industry's key market players adopt various strategies such as product launch, product development, collaboration, partnership, and agreements to influence the market. It includes details about the key players in the market's strengths, product portfolio, market size and share analysis, operational results, and market positioning.
Some of the major key players in the global Shale Shakers Market include,
Jereh Global Development LLC
Baker Hughes Inc.
Shandong Beyond Petroleum Equipment Co., Ltd.
GN solids control
Aipu Solids Control.
National Oilwell Varco, Inc.
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By Region, North America dominated the global Shale shaker market. Rise in requirement for separation, and cutting processes in North America is projected to propel the market growth in this region. The growing offshore sector is also expected to boost the demand for Shale shaker. Moreover, rising government initiatives specially from U.S. are projected to augment the demand for the Shale shaker market in this region. The above factors drive the growth of the Shale shaker market in this region during this forecast period.
The pandemic outbreak has had a significant impact on the oil and gas, chemicals and petrochemical, plastics, and mining sectors. This is because the sector's manufacturing processes have been delayed, primarily because of the uncertainty that has delayed decisions on new investments in oil and gas refineries and petrochemical plants. The emphasis on fossil fuels as a source of electric energy has been lessened by governments of both wealthy and emerging nations.
1. In 2021, by product type, the triple deck shale shaker segment accounted for about 34.1% of global Shale shaker market share and is expected to maintain its dominance during the forecast period.
2. In 2021, the linear motion type segment accounted for 39.6% market share, and is anticipated to grow at a rate of 6.2% in terms of revenue.
3. In 2021, the retrofitted Installation type segment accounted for 66.4% market share and is anticipated to grow at a rate of 6.1% in terms of revenue.
4. Belt driven segment is the rapidly growing segment in the global Shale shaker market and is expected to grow at a CAGR of 6.3% during 2022-2031.
5. By application, the oil and aas drilling segment accounted for about 36.0% of the share in the global Shale shaker market and is expected to maintain its dominance during the forecast period.
6. North America is expected to grow at the fastest rate, registering a CAGR of 6.6%, during the forecast period.
7. In 2021, LAMEA accounted for second largest market share with more than 27.3% of the share in the global Shale shaker market, in terms of revenue.
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