Global shale gas processing equipment market is expected to witness rapid growth over the forecast period owing to increasing natural gas exploration and development initiatives. Rapidly growing energy demand has resulted in energy companies increasing their efforts to explore unconventional fuel reserves. Vast unexplored unconventional reserves have prompted governments as well as energy companies to increase their investments in exploration and production initiatives.
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The U.S. is leading the global market over the recent years owing to rapid shale exploration and production growth. Other regions have tried to follow suit and have quickened their exploration & production activities. This trend is expected to assist the industry over the next six years. Superior properties such as low carbon emissions and higher calorific value when compared to conventional sources such as coal & petroleum are presumed to further aid the market.
A strategic shift towards natural gas and away from conventional energy sources owing to environmental concerns and regulations is expected to encourage energy companies to increase their unconventional fossil fuel exploration & production efforts in future. This shift in consumer preferences is projected to aid the global shale gas processing equipment market over the forecast period.
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Upcoming pipelines projects across different regions owing to heterogeneous unconventional fuel reserve distribution are expected to aid the market in future. Advances in technology have resulted in efficient and cost-effective unconventional drilling techniques over the recent years. Such technological advances are presumed to further complement the market over the next seven years.
Stringent environmental regulations regarding hydraulic fracturing issued by governments and agencies to safeguard public interests are anticipated to hinder industry growth. Volatile natural gas prices are expected to negatively impact profitability and in turn affect the market over the next six years. Shale gas production requires huge amount of water for the hydraulic fracturing process. Growing water shortages across the globe have resulted in higher opposition for this production technique. Such problems related to water availability as well as ground water contamination are projected to hamper growth and development in future.
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