North America Shale Gas Hydraulic Fracturing Market Poised for Steady Growth and Forecast in the Future
North America Shale Gas Hydraulic Fracturing: Market Dynamics
A major driver for the growth of North America shale gas hydraulic fracturing market is the cost of shale gas. The prices for natural gas in the U.S. experienced significant decline as compared to the previous years. Shale gas produced through hydraulic fracturing is much more cost effective as compared to the conventional one.
The replacement of coal with gas has reduced the U.S. greenhouse gas emissions to a great extent. This has led to the growth of shale gas production in the region. Moreover, the production of shale gas has created significant job opportunities in the region, thereby driving the North America shale gas hydraulic fracturing market growth.
The increasing use of natural gas in end use industries such as metal, electrical, chemicals and petrochemicals and transportation has led to rise in North America shale gas production.
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The production of natural gas releases harmful chemicals such as benzene to the environment, which creates local air pollution. Another restraining factor affecting the North America shale gas hydraulic fracturing market is the large amount of water consumption required in all the stages of shale gas hydraulic fracturing. During the production as well as transportation of shale gas, huge amount of water is required. The production through hydraulic fracturing releases some toxic chemicals that can pollute underground water.
The new trend in the North America shale gas hydraulic fracturing market is the use of heavy refined oils as fracturing fluids also acid-in-oil emulsions, water-in-oil emulsions and soap-type oil gels. The fracturing fluids are being generated using liquefied petroleum gas and propane.
North America Shale Gas Hydraulic Fracturing: Market Segmentation
The North America shale gas hydraulic fracturing market can be segmented on the basis of technology and region.
On the basis of technology, the North America shale gas hydraulic fracturing market can be segmented into:
Plug and Perf
North America Shale Gas Hydraulic Fracturing: Regional Outlook
North America has shown tremendous growth in the production of shale gas through hydraulic fracturing. The U.S. is a significant producer of shale gas with many large companies involved in the manufacture of shale gas across the region. Canada has also shown significant growth in the North America shale gas hydraulic fracturing production.
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North America Shale Gas Hydraulic Fracturing: Market Participants
According to the U.S. Energy Information Administration, examples of some of the significant players in the U.S shale gas hydraulic fracturing market are: Bakken, which includes companies such as ExxonMobil, Hess, Continental Resources, Whiting Petroleum, EOG Resources; Eagleford, which includes shale producers such as EOG resources, ConocoPhilips, BHP Billiton, Chesapeake Energy, Marathon oil; the Haynesville shale producers are Chesapeake Energy, Memorial Resource Development/Range Resources, EXCO Resources, BHP Billiton; the leading Marcellus Shale producers are Range Resources, EQT, Rice Energy, Chevron, CONSOL Energy; the Niobrara shale include producers such as Anadarko Petroleum, Noble Energy, Devon Energy, EOG Resources, Whiting Petroleum; The leading Permian Basin players are Occidental Petroleum, Chevron, Apache, ExxonMobil, Concho Resources; the leading producers across Utica shale are Chesapeake Energy, Gulfport Energy, Ascent Resources, Antero Resources, Eclipse Resources. The aforementioned are only a few among the North America shale gas hydraulic fracturing market participants.
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