Global Shale Gas Hydraulic Fracturing Market: Overview
Oil and Gas industry is under high pressure due to depleting natural reserve of the fossil fuel. This has led the companies to opt for new and unconventional methods of the oil extraction. One such method is horizontal drilling into the shale rocks as they are one of the largest reserve of crude oil following the reserves present under the sea bed. This horizontal drilling of the shale rocks is done using hydraulic fracturing equipment. They are design to penetrate hard surface of the rocks while keeping the waste and breakdown of the rocks to the minimum. They are also designed to avoid leakage of the oil while extraction. Based on these benefits, the global shale gas hydraulic fracturing market is expected to grow substantially in the forecast period of 2019 to 2027.
A Transparency Market Research’s report allows the readers to have a crystal clear picture of the global shale gas hydraulic fracturing market for the period of 2019 to 2027. It offers the stakeholders with the information such as recent developments, trends, and favorable strategies opted by various other players during the projected time frame. These insights help the businesses to understand the dynamics of the market and have a better decision-making.
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Global Shale Gas Hydraulic Fracturing Market: Notable Developments
Due to the fragmented scenario of the global shale gas hydraulic fracturing market, the players are facing a tough competition in the forecast period of 2019 to 2027. This nature of the market is attributed to the presence of the several prominent players. These players are constantly updating their product portfolio which further enables them to capture a considerable share in the global shale gas hydraulic fracturing market.
Moreover, the players are using strategic mergers and partnerships to acquire the top spot in the global shale gas hydraulic fracturing market. These strategies also allow the players to enhance their portfolio and gain a considerable advantage over their rivals.
- In June 2019, C&J Energy Services and Keane Group, Inc. announced a definitive agreement whereby both the companies shall enter all-share equal merger. This merger shall allow the companies to achieve a respectable position in oil and gas service industry. Together the companies aim to generate 2.3 million of hydraulic fracture horsepower and can provide their service to almost every region across the globe. With these benefits, the merger shall help both the companies to gain a substantial edge over their rivals in the global shale gas hydraulic fracturing market.
Global Shale Gas Hydraulic Fracturing Market: Key Drivers
Demand for Plug and Perforate Machines Drive the Revenue Growth
Since oil and gas industry is highly competitive, businesses are calling for drills that can act as a plug and play device. For this they require machines that can reduce the time of assembling and can get directly to work once reach at the site. To cater to this demand, the shale gas hydraulic fracture manufacturers are developing machines that are easy to transport, assemble, and operate. With the help of these developments, the players can capture a considerable share of the market. This also supports the global shale gas hydraulic fracturing market to maintain its momentum throughout the tenure of 2019 to 2027.
Growing Demand for Natural Gas Remains Key Factor Responsible for the Growth of Market
Though exhausting with an astonishing rate, fossil fuels and natural gas remains the most popular fuels today. The demand is also expected to grow even further in the future, but the scarcity of the oil and gas in the underground reserve is drawing the players attention towards the extracting the gas that is trapped between massive rocks beneath the earth’s surface. Due to this demand for extracting the natural gas from these rocks calls for shale gas hydraulic fracturing machines, that further propels the growth of global shale gas hydraulic fracturing market in the forecast period of 2019 to 2027.
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Global Shale Gas Hydraulic Fracturing Market: Regional Analysis
North America was the biggest customer in of the global shale gas hydraulic fracturing market by the end of 2018. The region is expected to remain the most lucrative region in the coming year of the 2019 to 2027. This dominance is attributed to the rising demand for shale gas in several applications such as propulsion of vehicles and machines in the U.S. and Canada.
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