The shale gas hydraulic fracturing market volume is likely to total 32.1 thousand units in 2023. The market is projected to expand at 10.9% CAGR between 2023 and 2033, surpassing 90.3 thousand units by the end of 2033.
The rising focus on utilizing unconventional energy resources has put shale gas hydraulic fracturing technologies under the spotlight. Hydraulic fracturing has become a highly sought-after process for shale production across key regions of the world.
The power generation segment accounted for about 35% share in Canada, the United States, and China's shale gas hydraulic fracturing market in 2022. Increasing usage of shale gas as an energy-efficient and eco-friendly fuel for producing electricity is boosting market growth.
With around 96% share, the United States will continue to dominate Canada, the United States, and China's shale gas hydraulic fracturing market during the forecast period. The United States shale gas hydraulic fracturing market is driven by increasing usage of relatively cheaper resources and the heavy presence of leading market players.
| Attribute | Details |
|---|---|
| Global Shale Gas Hydraulic Fracturing Market Value (2023) | 32.1 thousand units |
| Global Shale Gas Hydraulic Fracturing Market Forecast Value (2033) | 90.3 thousand units |
| Global Shale Gas Hydraulic Fracturing Market CAGR (2023 to 2033) | 10.9% |
Future Market Insights estimated a comparison analysis for the shale gas hydraulic fracturing market. The shale gas hydraulic fracturing market is expanding rapidly due to industrialization and automation, and this trend is expected to last during the projected period.
Global energy consumption has surged as a result of the strong demand for alternative energy sources. Shale gas is becoming more and more popular as a result of its low cost and environmental friendliness. Conventional methods for extracting shale gas are impractical because they are time-consuming, expensive, and unfriendly to the environment.
Hydraulic fracturing is consequently gaining popularity. Hence, FMI analysis concluded the change between the BPS points in the shale gas hydraulic fracturing market in H1, 2022. Outlook over H1, 2022 projected a gain of 112 points. Notably, compared to H1, 2021, the market is expected to lose 34 BPS points in H1, 2022.
According to FMI, China has a considerable share in the overall market for shale gas hydraulic fracturing owing to the increased investments in oil and gas operations. Improvements in hydraulic fracturing technology and soaring demand for shale gas across key industries are also aiding the market growth.
The government and other private oil and gas businesses are being forced to increase shale gas output due to China's rapidly rising energy demand. Hydraulic fracturing is becoming more popular across the nation because it is a quicker and more practical technique for extracting shale gas.
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Canada, the United States of America, and China's shale gas hydraulic fracturing market volume is projected to increase at a healthy CAGR of 10.9% between 2023 and 2033 in comparison to 9.2% registered from 2017 and 2022.
As per FMI, the market is driven by rapid industrialization, surging demand for shale gas and oil, and rising concerns over the depletion of natural resources. Additionally, factors like technological advancement in hydraulic fracturing and rising exploration activities across these regions are projected to augment market growth.
Shale gas hydraulic fracturing is a popular shale gas production process that involves the extraction of trapped natural oil or gas by fracturing the shale rock. It involves the high-pressure injection of water, sand, and other chemicals into the wellbore to create cracks in the deep bedrock formations through which desired (shale gas) product moves freely. The required product is then brought to the surface using various equipment.
Energy consumption across the world has increased in response to the high demand for alternative sources of energy. The demand for shale gas is growing due to its cost efficiency and eco-friendly nature. Extracting shale gas through conventional methods is not feasible due to their lengthy, expensive, and non-eco-friendly procedures. As a result, hydraulic fracturing is gaining traction.
Shale gas hydraulic fracturing has emerged as a safe and ideal means of extracting shale gas, especially across difficult regions. It allows the oil & gas companies to extract shale gas without much exertion and minimizes the damage to the environment.
| Attribute | Valuation |
|---|---|
| 2025 | 39.48 thousand units |
| 2028 | 53.85 thousand units |
| 2032 | 81.45 thousand units |
Spurred by the aforementioned factors, the market volume for Canada, the United States of America, and China's shale gas hydraulic fracturing market is set to witness volume sales of 90.3 thousand units by 2033.
| Historical CAGR (2017 to 2022) | 9.2% |
|---|---|
| Forecast CAGR (2023 to 2033) | 10.9% |
Amid growing concerns over the depletion of conventional energy resources at an alarming rate, countries are searching for new alternatives. Various investments are being directed toward the exploration of unconventional energy resources. This is anticipated to accelerate the growth of the shale gas hydraulic fracturing market during the forecast period.
Shale reservoirs are usually impermeable and require high intervention processes such as hydraulic fracturing to extract oil and gas products. Hydraulic fracturing has emerged as an ideal technique for the production of shale gas, especially across inaccessible areas. It not only saves money and time but also provides optimum safe and eco-friendly features.
Once the shale reserve is located, hydraulic fracturing technology is employed to extract the maximum quantity of shale gas without any leakage. The combination of hydraulic fracturing and horizontal drilling (Shale Revolution) is gaining wider popularity as a viable means of producing oil and gas, particularly from tight or difficult reservoirs.
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Despite its effectiveness in extracting oil and gas products, hydraulic fracturing remains a controversial method of shale extraction. Various regions have already banned this technique due to its potential for water table contamination and induced earthquakes.
During the process of hydraulic fracturing, a large quantity of water is utilized to crack or fracture the shale rock. As a result, undesirable substances get mixed with this water. Moreover, both the production and transportation of shale gas tend to release a heap of toxic pollutants in underground water. This is limiting the growth of the market.
| Country | The United States of America |
|---|---|
| CAGR (2023 to 2033) | 10.50% |
| Market Size (2033) | 83.6 thousand units |
| Country | Canada |
|---|---|
| CAGR (2023 to 2033) | 7.90% |
| Market Size (2033) | 738.5.0 thousand units |
| Country | China |
|---|---|
| CAGR (2023 to 2033) | 22.40% |
| Market Size (2033) | 7.2 thousand units |
| Attributes | Details |
|---|---|
| Market Size (2033) | 83.6 thousand units |
| Market Absolute Dollar Growth (USD million/billion) | 52.8 thousand units |
As per FMI, the United States of America is projected to retain its monopoly in Canada, the United States of America, and China's shale gas hydraulic fracturing market. Growth in the region is driven by continuous technological innovations and a rising inclination towards utilizing cheaper and eco-friendly energy resources. Additionally, increasing oil & gas exploration activities and the presence of leading market players are also propelling market growth in the coming years.
Currently, the United States is one of the most developed countries in the world. Rapid industrialization, rising disposable income, sophisticated lifestyle, and economic boom provide the impetus for the expansion of the shale gas hydraulic fracturing market in the United States of America.
A huge amount of shale gas is being produced as well as consumed across the United States of America. A large portion of shale gas is produced through horizontal drilling and hydraulic fracturing techniques. According to the USA Energy Information Administration (EIA), dry shale gas production in the United States of America was about 26.3 trillion cubic feet (Tcf) in 2020. Moreover, the total dry shale gas produced in 2020 accounted for around 79% of total United States dry natural gas production.
Amid rising consumption of shale gas, the United States of America of America's hydraulic fracturing market volume is forecast to increase at 10.5% CAGR between 2023 and 2033.
| Historical CAGR (2017 to 2022) | 9% |
|---|---|
| Forecast CAGR (2023 to 2033) | 10.5% |
| Attributes | Details |
|---|---|
| Market Size (2033) | 7.2 thousand units |
| Market Absolute Dollar Growth (USD million/billion) | 6.2 thousand units |
The rise of China as a technologically evolving nation has had a profound impact on every sphere of life. It is one of the few regions around the world that has a well-established shale gas hydraulic fracturing industry.
The China market is driven by increasing investments in oil & gas activities, advancements in hydraulic fracturing technology, and surging demand for shale gas across major industries.
Rapidly increasing energy demand across China is compelling the government and other private oil & gas companies to ramp up shale gas production. As hydraulic fracturing is a faster and more convenient method for producing shale gas, it is gaining wider traction across the country.
China’s shale gas production has been steadily rising during the past few years. According to the USA Energy Information Administration (EIA), despite being in its early phase of development, China’s shale gas production rose by 14% from 2017 levels to about 365 billion cubic feet (Bcf) in 2018.
Rising pollution levels due to conventional fuels are fostering the adoption of natural gas for industrial use, power generation, and residential and commercial heating. As per EIA, China’s natural gas consumption rose from 9.9 Tcf in 2018 to 10.8 Tcf in 2019.
One of the major reasons for the expansion of the shale gas hydraulic fracturing market is favorable government support. The government of China is playing a crucial role in boosting the growth of the shale gas hydraulic fracturing market. For instance, China recently introduced financial incentives for producers to promote domestic upstream development of unconventional natural gas. Furthermore, the government reduced the resource tax on shale gas production from 6% to 4.2% (starting from April 2018 to March 2021).
Based on the aforementioned factors, the shale gas hydraulic fracturing market volume in China is projected to increase at a prolific CAGR of 22.4% between 2023 and 2033.
| Historical CAGR (2017 to 2022) | 19.5% |
|---|---|
| Forecast CAGR (2023 to 2033) | 22.4% |
| Attributes | Details |
|---|---|
| Market Size (2033) | 738.5.0 units |
| Market Absolute Dollar Growth (USD million/billion) | 392.9 units |
As per FMI, the Canada shale gas hydraulic fracturing market volume is anticipated to increase at 7.9% CAGR during the forecast period of 2023 and 2033. Increasing demand for natural gas and the rising adoption of hydraulic fracturing are some factors driving the Canadian market.
Shale gas production in Canada has risen significantly over the last 15 years. The Canadian government is using various strategies to promote the adoption of shale gas and make the country pollution free. As per the USA Energy Information Administration (EIA), shale gas production in Canada is projected to account for around 30% of Canada’s total natural gas production by 2040.
| Historical CAGR (2017 to 2022) | 8.4% |
|---|---|
| Forecast CAGR (2023 to 2033) | 7.9% |
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| Taxonomy | Application |
|---|---|
| Top Segment | Power Generation |
| Forecast CAGR | 9.80% |
| Taxonomy | Technology |
|---|---|
| Top Segment | Plug and Perforation |
| Forecast CAGR | 11.20% |
As per FMI’s latest report, the plug and perforation segment is projected to continue dominating Canada, the United States of America, and China's gas hydraulic fracturing market over the forecast period. Plug and perforation technology can be used in both horizontal and vertical wells. It remains the most commonly used technology for extracting oil & gas in unconventional wells.
Plug and perforation technology delivers high performance in production. It is more flexible and reliable. Significant oil & gas drilling companies use plug and perforation technology during multistage shale gas hydraulic fracturing.
A robust CAGR of 11.2% has been predicted for the plug and perforation segment by FMI through 2033.
| Historical CAGR (2017 to 2022) | 9.3% |
|---|---|
| Forecast CAGR (2023 to 2033) | 11.2% |
Increasing demand for electricity across both residential and industrial sectors is creating huge growth opportunities within Canada, the United States of America, and China's shale gas hydraulic fracturing market. With increasing fuel prices and growing environmental concerns, there has been a rapid transition from using conventional fuels to non-conventional ones, such as natural gas.
Shale gas is being increasingly used for generating electricity across power generation plants due to its convenience, ecofriendly nature, and comparatively lower costs than other fossil fuels. Rising demand for electricity is projected to continue spurring the market growth during the forecast period.
The power generation segment accounted for more than 35% share of Canada, the United States of America, and China's shale gas hydraulic fracturing market in 2022.
| Historical CAGR (2017 to 2022) | 8.2% |
|---|---|
| Forecast CAGR (2023 to 2033) | 9.8% |
Canada, the United States of America, and China's shale gas hydraulic fracturing market is highly fragmented in nature. Leading market players are constantly upgrading their product portfolios. Besides this, they have adopted various organic and inorganic strategies such as mergers, partnerships, collaborations, and acquisitions to dominate the market.
The key companies involved in the development and production activities of shale gas are assisted by established policies, as well as industry practices and guidelines. Additionally, leading key players, in association with state governments and multistate entities, address concerns and provide efficient regulatory frameworks. As a result, sound management policies are being implemented that are propelling the growth of key participants.
Following are the recent developments observed in the market:
| Attribute | Details |
|---|---|
| Forecast Period | 2017 to 2022 |
| Historical Data Available for | 2023 to 2033 |
| Market Analysis | Units for Volume |
| Key Regions Covered | Canada, China, and the United States of America |
| Key Countries Covered | China, Canada, and the United States of America |
| Key Segments Covered | Technology, Application, and Region |
| Key Companies Profiled | 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 |
| Report Coverage | Market Forecast, Company Share Analysis, Competition Intelligence, Drivers, Restraints, Opportunities and Threats Analysis, Market Dynamics and Challenges, and Strategic Growth Initiatives |
| Customization & Pricing | Available upon Request |
The volume sales of the market are projected to reach 90.3 thousand units by 2033.
Exxon Mobil Corporation and Royal Dutch Shell Plc. are the top players in the market.
The United States is expected to dominate the market throughout the forecast period.
The Canada, the United States, and China shale gas hydraulic fracturing market is projected to grow at a CAGR of 10.9%.
1. Executive Summary | Canada, US, and China Shale Gas Hydraulic Fracturing Market 2. Market Overview 3. Market Background 4. Market Analysis 2017 to 2022 and Forecast, 2023 to 2033 5. Market Analysis 2017 to 2022 and Forecast 2023 to 2033, By Application 5.1. Commercial 5.2. Industrial 5.3. Power Generation 5.4. Residential 5.5. Transportation 6. Market Analysis 2017 to 2022 and Forecast 2023 to 2033, By Technology 6.1. Plug and Perforation 6.2. Sliding Sleeve 7. Market Analysis 2017 to 2022 and Forecast 2023 to 2033, By Country 7.1. USA 7.2. Canada 7.3. China 8. USA Market Analysis 2017 to 2022 and Forecast 2023 to 2033, By Country 9. Canada Market Analysis 2017 to 2022 and Forecast 2023 to 2033, By Country 10. China Market Analysis 2017 to 2022 and Forecast 2023 to 2033, By Country 11. Market Structure Analysis 12. Competition Analysis 12.1. Exxon Mobil Corporation 12.2. Royal Dutch Shell Plc. 12.3. Keane Group 12.4. Devon Energy Corporation 12.5. BNK Petroleum Inc. 12.6. Anadarko 12.7. EQT Corporation, Statoil 12.8. ConocoPhillips Company 12.9. Chevron 12.10. Pioneer Natural Resources 12.11. Repsol USA 12.12. Southwestern Energy 12.13. Cabot Oil & Gas Corporation 12.14. Sanchez Energy Corporation 12.15. EOG Resources, Inc. 12.16. China National Petroleum Corporation 13. Assumptions & Acronyms Used 14. Research Methodology
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Canada, US, and China Shale Gas Hydraulic Fracturing Market
