The global directional drilling services market size was valued at USD 9.11 billion in 2017 and is expected to grow further over the forecast period. Rising concerns regarding optimizing production and maximizing recovery are expected to upscale the demand for directional drilling services. Furthermore, increasing demand from energy sector, owing to the ongoing shale gas developments and discoveries of new oilfields, is expected to contribute significantly to the market growth.
Traditional application of liquefied petroleum gas (LPG) is for cooking purpose which was dominant driving factor and it is going to continue its impact on the growth of LPG market over the forecast period. LPG is considered more clean fuel as compared with coal and beneficial for environment and hence recommended by government. Hence, Government provides subsidies in purchase of LPG which is expected to be the factor to further drive the market in coming years.
Global tight gas market is expected to experience significant growth over the forecast period owing to shift in focus toward unconventional gases. Tight gas is an unconventional gas explored through hydraulic fracturing with low permeability. Global tight gas market is expected to experience momentous growth over the next six years owing to increasing usage in residential, commercial, power generation, transportation, and industrial.
Specialty fuels additives are chemical constitutions which when mixed with fuels enhance the properties of the fuel or restrain the undesirable properties of fuels. To impart the characteristics of the fuel additives are used. The additives are added to a large number of functions such as to reduce the consumption of fuel, reduce the emissions, to improve the power output and to prevent corrosion
Growing E&P activities for extracting hydrocarbons from unconventional reserves particularly shale basins has been major factor driving global hydraulic fracturing market growth over the last few years. Increasing demand for primary energy and fuel for transportation, household and power generation has been responsible for growth in demand for oil & gas over the last few years.
The global coal bed methane (CBM) market size is expected to witness steady growth over the forecast period. Shift from conventional energy sources like coal and natural gas to alternative energy is a major driving factor. Rising implementation of energy conservation strategies in developed nations is expected to further fuel expansion. Technological advancements and high energy demand is also anticipated to play a crucial role in rising demand for CBM.
Shale gas market is expected to witness considerable growth over the forecast period owing to increasing application in industrial, residential, power generation, transportation, and commercial. Depleting reservoirs coupled with growing energy demand are the major factor driving the global shale gas market over the forecast period.