The shale gas hydraulic fracturing market in Canada, US, and China experienced robust year-on-year (YoY) growth rate during 2021. While the total market volume across these countries totaled 28,866.50 units in 2021, it is projected to increase at 9.2% CAGR between 2021 and 2027, surpassing around 48,814.70 units by the end of 2027.
Future Market Insights’ latest forecast study offers key insights on the growth of the shale gas hydraulic fracturing market in the US, Canada and China. Analyst associated with the development of this report has addressed the key concerns of journalist. The responses reveal valuable foresights on how shale gas hydraulic fracturing market in these countries will evolve during the period, 2017-2027.
What do you think is the key factor driving the market for shale gas hydraulic fracturing in the US, Canada and China?
Well, my perceptions on the market drivers indicate the importance of having number of recoverable shale gas reserves. Among these three developed economies, the US possesses maximum number of recoverable reserves which can potentially fuel its shale gas hydraulic fracturing market. Across these countries, the dependency on conventional energy resources is remains fairly high. China will be reflecting high investments in its oil & gas sector, while Canada’s energy marketplace will showcase the adoption of advanced hydraulic fracturing technologies
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In the coming years, do you think the scope of sliding sleeve technology will improve in the market?
Not likely. Our study has observed that the adoption of sliding sleeve technology in shale gas hydraulic fracturing operations will dwindle in the coming years. Majority of shale gas companies will employ plug & perforation for their operations. Indispensable benefits of this technology will constrain the adoption of sliding sleeves in the shale gas hydraulic fracturing market.
Among the diverse applications of shale gas hydraulic fracturing, can you reveal the one that will reflect highest profitability through 2027?
In 2018 and beyond, the end-use of shale gas hydraulic fracturing in power generation applications will translate high profits for market players. Over the forecast period, more than 40% of shale gas hydraulic fracturing market value in the US will be accounted by power generation applications.
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Can you identify the key stakeholders in the shale gas hydraulic fracturing market across these countries?
What’s your take on the US being a market leader?
Frequent technological innovations in shale gas hydraulic fracturing are being adhered by market players in the US. This, according to me, keeps the country ahead of China and Canada in the context of shale gas hydraulic fracturing.
Will China reflect high value growth in the near future of its shale gas hydraulic fracturing market?
High investments in exploration activities across China’s shorelines will factor a high value growth in the country’s shale gas hydraulic fracturing market through 2027.
Can you provide a few market size estimates for understanding the study’s long-term outlook?
Currently, our study estimates the shale gas hydraulic fracturing market in US to be record over 18,000 BCF in terms of volume. Among these three countries, Canada’s shale gas hydraulic fracturing market is pegged to expand at the lowest CAGR of 8.4% during 2017-2027. In the due course of this forecast period, the shale gas hydraulic fracturing market in China is pegged to grow at a staggering CAGR of 21.2% in terms of volume.
Canada, US, and China Shale Gas Hydraulic Fracturing Market by Category
Technology:
- Plug and perforation
- Sliding sleeve
Application:
- Power generation
- Industrial
- Residential
- Commercial
- Transportation
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