The U.S. hydraulic fracturing market size was valued at USD 9.6 billion in 2017 and is expected to witness a significant growth, pertaining to the growing oil and gas extraction activities over the forecast period. The U.S. hydro fracking market is primarily driven by the high demand of energy and the rise in the need of natural gas and oil resources in the country. The persistent exhaustion of shallow water and onshore fields have constrained oil companies to put an emphasis on unconventional onshore and deep water zones where a hydraulic fracturing services are needed for the extraction of oil and gas.
Distribution Automation System may refers to an arrangement of communication technologies, intelligent processors and sensors that empowers to organize and screen the electric power distribution.
Globally, attention in unconventional natural gas production and related extraction technologies has taken off over the last 5 years owing to the influence of unconventional natural gas boom in the North American region. Many countries are looking forward to unconventional natural gas as a prospective energy source to alleviate supply shortages, reduce natural gas costs and generate further revenue.
The Flexible AC Transmission System (FACTS) market size is expected to grow moderately over the forecast period. Surging demand for industrial and renewable energy applications along with general electrical utility is projected to drive the market. Large-scale technological developments and restructuring activities of existing power infrastructures across the globe are likely to bolster the growth of the market.
The global enhanced oil recovery (EOR) market size was estimated to be worth USD 29.71 billion in 2016 and is likely to grow significantly over the projected period.
Wind energy also known as wind power. Wind energy refers to the extraction of kinetic energy from the wind and conversion of it into a useful type of energy: thermal, mechanical, or electrical. This can be accomplished through the use of wind turbines to generate electricity, windmills for mechanical power, wind pumps for water pumping or drainage, or sails to propel ships.
According to Hexa Research, the flare gas recovery systems market is likely to grow from USD 930.6 million in 2014 to 1, 019.7 million in 2020. The market would observe over 13.7 percent CAGR in the upcoming years.
The rapidly increasing use of renewable energy systems for commercial and residential applications coupled with low costs and efficiency of these systems are the major factors driving the global solar PV market. Furthermore, the rising cost of electricity in various countries is also a factor propelling the solar PV market. Solar PV is a technology which consists PV modules made up of semiconductor materials.