San Francisco, California, May 08, 2018: A recently added market study by TMR Research, titled, “Shale Gas Hydraulic Fracturing Market – Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2017–2025,” uncovers that the world’s insatiable demand for crude oil is primary factor driving the market. The depleting reserves in conventional sources of such oil have egged companies to look for unconventional sources such as shale. Such unconventional methods have gained massive traction in the past one decade with governments in nations such as the U.S. and China offering tax incentives and other financial aids to manufacturers.
One major concern for the market for shale gas hydraulic fracturing, on the other hand, is the environmental impact of such methods. Besides, the massive upfront investment alongside the high operating cost of shale gas drilling is another factor hindering the market. But the most crucial challenge at this point in time is the glut in oil production and the subsequent tanking prices that has forced many new entrants to run at a loss. In fact, many countries across the world have decided to cut back output to enable prices rebound to sustainable levels.
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Geographically, North America is leading the market for shale gas hydraulic fracturing because of exhaustive exploration and pumping of shale gas. Availability of better technologies in the region, particularly in the U.S., has also boosted its market. Besides North America, China in Asia Pacific is another key market since it has twice the amount of shale gas than the U.S.
Some of the key players operating in the global market for shale gas hydraulic fracturing are Range Resources, EOG Resources, Chesapeake Energy, ExxonMobil, Chevron, Rice Energyy, BHP Billiton, Marathon Oil, and EQT.