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Large Shale Gas Reserves in Europe Promise Growth for the Pumps Market, Finds Frost & Sullivan


News provided by

Frost & Sullivan

18 Nov, 2013, 10:39 GMT

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- Pump manufacturers must focus on development of high-pressure pumps to quicken growth

LONDON, Nov. 18, 2013 /PRNewswire/ -- Greater political acceptance of shale gas exploration and the growing need among European countries to be self-sufficient in terms of energy is expected to result in the growth for the pumps market. Pump manufacturers, though, may not be able to capitalise on this potential as concerns on the environmental impact of fracking are likely to curb shale gas exploration activities by oil and gas companies.

New analysis from Frost & Sullivan (http://www.industrialautomation.frost.com), Strategic Analysis of the Pumps Market in the European Shale Gas Industry, finds that the market earned revenues of $35.3 million in 2012 and expects this to reach $47.7 million in 2017.

"Vast shale gas reserves across Europe and the economic benefits of shale gas exploration will encourage exploration," said Frost & Sullivan Industrial Automation and Process Control Research Analyst Niranjan Paul. "However, the potential growth of pump manufacturers targeting the region's shale gas industry will vary according to the country."

While the United Kingdom, Ukraine and Poland are at the forefront of shale gas production in order to meet energy requirements and reduce dependency on Russian gas imports, the industry will be affected by uncertain policies of local governments in other countries. For instance, France and the Netherlands have enforced a ban on shale gas exploration as hydraulic fracturing activities may cause earthquakes and pollute the drinking water.

Moreover, although Germany and the United Kingdom have issued permits, large-scale exploration is yet to begin since the feasibility of commercial shale gas production in Europe remains doubtful. For example, ExxonMobil withdrew from Poland after the drilling of two gas wells failed to yield commercial opportunities. In Germany and Austria, oil and gas companies are required to conduct environmental impact studies for every shale gas project, escalating costs and significantly reducing the commercial viability of shale gas exploration.

Nevertheless, pump vendors will continue to find growth pockets as oil and gas companies such as Royal Dutch Sell and ConocoPhillips continue exploration activities during the forecast period. Shell is likely to conduct seismic testing and drill test wells in Ukraine, while Chevron is looking to stake capital in shale gas exploration in Poland and Romania.

"In fact, proponents of the shale gas industry in Europe predict that increased exploration would be beneficial to countries affected by the slowdown, as it is expected to attract investments from major oil and gas companies, result in job creation, and provide significant tax revenue for governments," added Paul. "To benefit form these opportunities and ensure market expansion, pump manufacturers must develop high-pressure pumps that will be suitable for applications in the shale gas industry."

If you are interested in more information on this research, please send an e-mail to Julia Nikishkina, Corporate Communications, at julia.nikishkina@frost.com, with your full name, company name, job title, telephone number, company e-mail address, company website, city, state and country.

Strategic Analysis of the Pumps Market in the European Shale Gas Industry is part of the Industrial Automation & Process Control Growth Partnership Service program. Frost & Sullivan's related research services include: Automation and Control Solutions Market in Sub-Saharan Africa's Power Sector - An Analysis of the Top 3 Countries, Automation and Control Solutions Market within Sub-Saharan Africa's Water and Wastewater Industry, and North American Pumps in Municipal Application Market. All research services included in subscriptions provide detailed market opportunities and industry trends evaluated following extensive interviews with market participants.

About Frost & Sullivan

Frost & Sullivan, the Growth Partnership Company, works in collaboration with clients to leverage visionary innovation that addresses the global challenges and related growth opportunities that will make or break today's market participants.

Our "Growth Partnership" supports clients by addressing these opportunities and incorporating two key elements driving visionary innovation: The Integrated Value Proposition and The Partnership Infrastructure.

  • The Integrated Value Proposition provides support to our clients throughout all phases of their journey to visionary innovation including: research, analysis, strategy, vision, innovation and implementation.
  • The Partnership Infrastructure is entirely unique as it constructs the foundation upon which visionary innovation becomes possible. This includes our 360 degree research, comprehensive industry coverage, career best practices as well as our global footprint of more than 40 offices.

For more than 50 years, we have been developing growth strategies for the global 1000, emerging businesses, the public sector and the investment community. Is your organisation prepared for the next profound wave of industry convergence, disruptive technologies, increasing competitive intensity, Mega Trends, breakthrough best practices, changing customer dynamics and emerging economies?

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Strategic Analysis of the Pumps Market in the European Shale Gas Industry
M94B-10

Contact:

Julia Nikishkina
Corporate Communications – Europe
P: +7 (499) 213 0156
E: julia.nikishkina@frost.com
LinkedIn: Frost & Sullivan's Industrial Automation and Process Control Forum
Twitter: @FS_Automation

http://www.frost.com

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