An increase in exploration activities related to oil fields in North America and LAMEA regions is expected to drive the growth of the market during the forecast period. In addition, an increase in the use of shale shakers in Drilling Equipment is anticipated to be the driving factor during the forecast period. On the contrary, the rise in offshore oil and gas projects is projected to create opportunities for key players in the Shale shaker market in the coming years. The shale shakers market size was valued at $1.6 billion in 2021 and is estimated to reach $2.8 billion by 2031, growing at a CAGR of 5.9% from 2022 to 2031.
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Shale shakers are powerful vibrating components that are used to remove undesired solids from fracking mud in order to extract more mud and increase the efficiency of mining, coal, and drilling rigs. It finds an extensive range of applications in the field of mining, plastic, chemical, food and beverages, and coal cleaning sectors, shale shakers are also used in oil and gas drilling applications. In a simple line, it is a crucial component of a solid control system used in drilling rigs to separate out large solid particles from drilling fluid.
An increase in the demand for shale shaker to provide superior cutting conveyance and to provide liquid retention in drilling operations has boosted linear shale shaker growth which has a positive impact on the Shale shaker market. The above-mentioned factors are expected to have a positive impact on the demand for the Shale shaker market. Additional growth strategies such as research & innovation in the technology and major investment in offshore oil & gas projects have led to attaining key developments in the global Shale shaker market trends.
By product type, the triple deck segment dominates the global shale shaker market forecast. Rapid industrialization and increase in population have led to an increase in demand for coal, food and beverages, and chemicals, which is expected to drive demand for Shale shakers across the globe. Moreover, rapidly growing petrochemical industries due to high demand for natural gas, diesel, gasoline, and other factors are fueling shale shakers’ market growth. The above-mentioned factors are projected to provide ample opportunities for the development of the market during the forecast period.
By application, the oil & gas drilling segment dominates the global shale shaker market. The rise in onshore drilling activities across the globe is expected to drive the demand for the Shale shaker market. The increase in population with rapid industrialization across the globe has led to the demand for energy resources, which led to an increase in investment in the exploration of oil fields on the mainland.
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The presence of utilization of coal resources in various sectors will boost the demand for coal cleaning, which will drive the demand for the Shale shaker market. The above-mentioned factors are projected to provide ample opportunities for the development of the market during the forecast period.
By Region, North America dominated the global Shale shaker market. A rise in the requirement for separation, and cutting processes in North America is projected to propel the market growth in this region. The growing offshore sector is also expected to boost the demand for Shale shakers. Moreover, rising government initiatives especially from the U.S. are projected to augment the demand for the Shale shaker market in this region. The above factors drive the growth of the Shale shaker market in this region during this forecast period.
The pandemic outbreak has had a significant impact on the oil and gas, chemicals and petrochemical, plastics, and mining sectors. This is because the sector’s manufacturing processes have been delayed, primarily because of the uncertainty that has delayed decisions on new investments in oil and gas refineries and petrochemical plants. The emphasis on fossil fuels as a source of electric energy has been lessened by governments of both wealthy and emerging nations.
The global Shale shaker market analysis covers in-depth information on the major Shale shaker market industry participants. The key players operating and profiled in the report include Halliburton, National Oilwell Varco, Schlumberger Ltd., Baker Hughes, GN Solid Control, Derrick Corporation, Shandong Beyond Petroleum Equipment Co. Ltd, Aipu Solids Control, Del Corporation, and Jereh Global Development LLCs.
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Key Findings:
- In 2021, by product type, the triple deck shale shaker segment accounted for about 34.1% of the global Shale shaker market share and is expected to maintain its dominance during the forecast period.
- In 2021, the linear motion type segment accounted for 39.6% market share and is anticipated to grow at a rate of 6.2% in terms of revenue.
- In 2021, the retrofitted Installation type segment accounted for 66.4% market share and is anticipated to grow at a rate of 6.1% in terms of revenue.
- Belt driven segment is the rapidly growing segment in the global Shale shaker market and is expected to grow at a CAGR of 6.3% during 2022–2031.
- By application, the oil and gas drilling segment accounted for about 36.0% of the share in the global Shale shaker market and is expected to maintain its dominance during the forecast period.
- North America is expected to grow at the fastest rate, registering a CAGR of 6.6%, during the forecast period.
- In 2021, LAMEA accounted for the second largest market share with more than 27.3% of the share in the global Shale shaker market, in terms of revenue.
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