North America Shale Market size was valued at USD 81.3 Billion in 2023 and is projected to reach USD 148.3 Billion by 2031, growing at a CAGR of 7.8% from 2024 to 2031.

North America Shale Market Dynamics

The key market dynamics that are shaping the North America shale market include:

Key Market Drivers

Hydraulic Fracturing and Horizontal Drilling: Innovations in hydraulic fracturing (fracking) and horizontal drilling technologies have significantly enhanced the efficiency and productivity of shale oil and gas extraction. These revolutionary techniques have unlocked vast reserves of previously inaccessible oil and gas trapped in shale formations. The U.S. Energy Information Administration (EIA) reported that in 2022, shale plays accounted for 95% of U.S. natural gas production growth and about 75% of U.S. oil production. The Permian Basin alone produced over 5.2 million barrels per day of crude oil by the end of 2022.

North America Hydraulic Fracturing Fluids Market size was valued at USD 25.4 Billion in 2024 and is projected to reach USD 38.2 Billion by 2031, growing at a CAGR of 4.7% from 2024 to 2031.

North America Hydraulic Fracturing Fluids Market Drivers

Unprecedented Shale Resource Abundance: As of January 2023, the United States Energy Information Administration (EIA) estimates that the Permian Basin in Texas and New Mexico contains roughly 66.6 billion barrels of technically recoverable crude oil and 291 trillion cubic feet of natural gas. According to the EIA, U.S. shale formations produce more than 70% of total domestic oil and gas, making them the world's largest unconventional hydrocarbon resource. According to the EIA, US shale formations produce more than 70% of domestic oil and gas, making them the world's largest unconventional hydrocarbon resource. Technological Advancements in Hydraulic Fracturing: The US Department of Energy says that technical advancements enhanced efficiency by 400% between 2010 and 2022. The average horizontal well productivity in the Permian Basin has risen considerably, from 200 barrels per day in 2010 to more than 800 barrels per day in 2022, indicating major technological advances in hydraulic fracturing techniques. Robust Investment and Infrastructure Development: The Federal Reserve Bank of Dallas estimates that capital expenditure in the United States exploration and production sector will reach $126 billion in 2022. More than 60% of this investment went toward hydraulic fracturing technology and infrastructure development in important shale regions such as Texas, North Dakota, and Pennsylvania, demonstrating North America's ongoing economic commitment to hydraulic fracturing.

PUDL v2025.5.0 (2025-05-20)

This is our regular quarterly PUDL data release for 2025Q2. It includes sub-annual updates to the EIA-860M, EIA-923, EIA-930, EIA bulk electricity API, and EPA CEMS datasets. It also includes preliminary 2024 data for FERC Form 1 (integrated into PUDL) and FERC Forms 2, 6, and 60 (as stand-alone SQLite databases). The VCE RARE hourly county-level renewable energy generation curves have been extended back to cover 2014-2018.

This release also includes new imputed versions of the FERC-714 and EIA-930 hourly demand curves with missing values filled in and a better organized verion of the SEC 10-K company ownership data. Note that work on the demand imputations and SEC 10-K data is ongoing.

All federal data was archived from the publishing agencies on May 1st, 2025.

Upcoming Deprecations

• Due to the growing size of PUDL database, we are no longer updating our Datasette deployment and that URL will soon begin redirecting users to the PUDL Data Viewer. You can track our progress toward feature parity with the old Datasette deployment in this issue.

• When we complete the migration of our data validation tests to the dbt framework, we will remove the deprecated https://catalystcoop-pudl.readthedocs.io/en/v2025.5.0/autoapi/pudl/output/pudltabl/index.html#pudl.output.pudltabl.PudlTabl">pudl.output.pudltabl.PudlTabl output class. This will also happen before our next quarterly release.

New Data

FERC 714

• We refactored our timseries imputation functions to be more generalized and reusable, so they can be applied to electricity demand curves from both FERC-714 and EIA-930, as well as other time series data in the future. This resulted in some minor changes to the imputation results. See issue #4112 and PR #4113.

• Added the table out_ferc714_hourly_planning_area_demand, which contains an imputed version of demand. Previously these imputed values were not being distributed directly, and fed into the out_ferc714_hourly_estimated_state_demand table.

EIA 930

Work on producing EIA 930 demand curves suitable for use in electricity system modeling is being done in collaboration with @awongel at Carnegie Science, with support from GridLab. See issue #4083 for a list of related issues.

• Added the table out_eia930_hourly_subregion_demand, which contains an imputed version of subregion demand. See issues #4124, #4136 and PR #4149

• Added the table out_eia930_hourly_operations, which contains an imputed version of BA level demand. See issue #4138 and PR #4162

SEC 10-K

• Reorganized the preliminary SEC 10-K data that was integrated into our last release. See issue #4078 and PR #4134. The SEC 10-K tables are now more fully normalized and better conform to existing PUDL naming conventions. Overall revision of the SEC 10-K data is being tracked in issue #4085.

  Note that the SEC 10-K data is still a work in progress, and there are known issues that remain to be resolved in the upstream repository that generates this data.

  The new tables include:

  • core_sec10k_quarterly_filings

  • core_sec10k_quarterly_company_information

  • core_sec10k_changelog_company_name

  • core_sec10k_quarterly_exhibit_21_company_ownership

  • core_sec10k_parents_and_subsidiaries

  • core_sec10k_assn_sec10k_filers_and_eia_utilities

  • out_sec10k_quarterly_filings

  • out_sec10k_changelog_company_name

Expanded Data Coverage

FERC Form 1

• Integrated FERC Form 1 data from 2024 into the main PUDL SQLite DB. See issue #4207 and PR #4215. FERC Form 1 has a filing deadline of April 18th for utility respondents, but late filings may come throughout the year. This update includes ~95% of the expected utility responses for 2024.

FERC Forms 2, 6, & 60

• Updated the FERC archive DOIs and ferc_to_sqlite settings to extract 2024 XBRL data for FERC Forms 2, 6, and 60 and add them to their respective SQLite databases. Note that this data is not yet being processed beyond the conversion from XBRL to SQLite. See PR #4250. The reporting deadline for these forms was April 18th, 2025 so they should include the vast bulk of the expected data, however there may be some late filings which will be added in the next quarterly release.

EIA Bulk Electricity

• Updated the EIA Bulk Electricity data to include data published up through 2025-05-01. Also adapted the extractor to handle changes in formatting for the EIA Bulk API archive. See #4237 and PR #4246.

EPA CEMS

• Added 2025 Q1 of CEMS data. See #4236 and #4238.

EIA 930

• Updated EIA 930 to include data published up through the beginning of May 2025. See #4235 and #4242. Raw data now includes adjusted and imputed values for the unknown fuel source, making it behave like other fuel sources; see Changes in energy source granularity over time for more information.

EIA 860M

• Added EIA 860M data from January, February, and March 2025. See #4233 and PR #4242.

EIA 923

• Added EIA 923 from January and February 2025. See #4234 and PR #4242.

VCE RARE

• Integrated 2014-2018 RARE data into PUDL. Also fixed misleading latitude and longitude field descriptions, and renamed the field county_or_lake_name to place_name. See issue #4226 and PR <a

Texas is by far the largest oil-producing state in the United States. In 2024, Texas produced a total of over two billion barrels. In a distant second place is New Mexico, which produced 744.6 million barrels in the same year. Virginia is the smallest producing state in the country, at three thousand barrels. Macro perspective of U.S. oil production The U.S. oil production totaled some 19.4 million barrels of oil per day, or a total annual oil production of 827 million metric tons in 2023. As the largest oil producer in the U.S., it is not surprising that Texas is home to the most productive U.S. oil basin, the Permian. The Permian has routinely accounted for at least 50 percent of total onshore production. Regional distribution of U.S. oil production A total of 32 of the 50 U.S. states produce oil. There are five regional divisions for oil production in the U.S., known as the Petroleum Administration for Defense Districts (PADD). These five regional divisions of the allocation of fuels derived from petroleum products were established in the U.S. during the Second World War and they are still used today for data collection purposes. In line with the fact that Texas is by far the largest U.S. oil producing state, PADD 3 (Gulf Coast) is also the largest oil producing PADD, as it also includes the federal offshore region in the Gulf of Mexico. There are around 590 operational oil and gas rigs in the country as of February 2025.

Gas Separation Membranes Market Size and Forecast

Gas Separation Membranes Market size was valued at USD 1.14 Billion in 2024 and is projected to reach USD 1.72 Billion by 2031, growing at a CAGR of 5.8% from 2024 to 2031.

Global Gas Separation Membranes Market Drivers

Increasing Demand for Natural Gas and Biogas Purification: The increased usage of natural gas and biogas as cleaner energy sources is pushing up demand for gas separation membranes. According to the International Energy Agency (IEA), worldwide natural gas demand is expected to rise by 29% between 2020 and 2040. According to the Energy Information Administration (EIA), U.S. natural gas output hit a record high of 34.9 trillion cubic feet in 2019, up from 25.1 trillion cubic feet in 2010. The increase in natural gas production and consumption raises the demand for effective gas separation technologies, such as membranes.

Rising Focus on Carbon Capture and Storage (CCS) Technologies: The growing emphasis on decreasing greenhouse gas emissions is accelerating the introduction of CCS technology, which employs gas separation membranes. According to the Global CCS Institute, there were 65 large-scale CCS facilities in operation and construction by 2020, up from 38 in 2011. According to the International Energy Agency, CCS could reduce global carbon dioxide emissions by 19% while lowering the cost of climate change mitigation by 70% by 2050. This increased focus on CCS is projected to greatly boost the gas separation membranes market.

North America Oil Country Tubular Goods Market size was valued at USD 7.9 Billion in 2024 and is projected to reach USD 11.8 Billion by 2032, growing at a CAGR of 5.2% from 2026 to 2032.

Key Market Drivers Increasing Oil and Gas Drilling Activities: Rising oil and gas drilling activity will propel the North American Oil Country Tubular Goods (OCTG) industry. According to the US Energy Information Administration (EIA), crude oil output in the United States will reach a record high of 13.2 million barrels per day in 2023, indicating a strong increase in drilling activity. the Baker Hughes Rig Count showed 622 active drilling rigs in the United States as of March 2024, indicating substantial demand for OCTG materials used in well building and completion. Growing Shale Gas Exploration: Growing shale gas exploration will have a substantial impact on the North American Oil Country Tubular Goods (OCTG) sector.

Floating LNG Power Vessel Market size was valued at USD 780.3 Million in 2024 and is projected to reach USD 1003.91 Million by 2031, growing at a CAGR of 3.2% from 2024 to 2031.

Global Floating LNG Power Vessel Market Drivers

Growing Demand for Flexible and Mobile Power Generation Solutions: The necessity for quick deployment of power generation capacity, particularly in emerging countries and distant places, is boosting the market for floating LNG power vessels. According to the International Energy Agency (IEA), worldwide energy demand is expected to rise by 2.1% each year until 2040, with developing nations accounting for the vast majority of this increase. Floating LNG power vessels provide a versatile solution for meeting this growing need swiftly.

Increasing Adoption of Natural Gas as a Cleaner Energy Source: The global shift towards cleaner energy sources is increasing demand for natural gas-fired power plants. According to the International Gas Union (IGU), worldwide LNG trade reached 356.1 million tonnes in 2020, up 0.4% from 2019 despite the pandemic. This trend is boosting the rise of floating LNG power boats as a method of efficiently utilizing natural gas for power generation.

Rising Investments in Offshore Gas Fields: The growth of offshore gas fields opens up potential for floating LNG power vessels. According to the United States Energy Information Administration (EIA), offshore oil and natural gas production accounted for over 30% of total global output in 2020. According to the IEA's World Energy Investment 2021 study, upstream oil and gas investments are forecast to increase by roughly 10% in 2021, with a large part focused on offshore projects. This trend is projected to increase demand for floating LNG power vessels to support offshore operations and use stranded gas resources.

North America Artificial Lift Systems Market size was valued at USD 3.9 Billion in 2024 and is projected to reach USD 5.9 Billion by 2031, growing at a CAGR of 4.5% from 2024 to 2031.

North America Artificial Lift Systems Market Drivers

Unconventional Oil Production Expansion: According to the US Energy Information Administration (EIA), shale oil output has increased dramatically, from 1.2 million barrels per day in 2010 to 5.6 million barrels per day in 2022. This exponential growth demonstrates the importance of unconventional oil resources in the North American energy environment. Artificial lift systems have proven indispensable in extracting oil from complicated geological formations, allowing producers to tap previously uneconomical reserves while preserving the region's energy independence. Enhanced Oil Recovery (EOR) Strategies: According to the US Department of Energy, increased oil recovery techniques have the potential to unleash an extra 240 billion barrels of oil from US reserves. With many mature oil fields facing decreased natural pressure, artificial lift systems have become critical to deploying modern recovery technologies. These technologies enable operators to increase extraction efficiency, extend the productive life of existing wells, and optimize resource utilization in an increasingly competitive energy market. Technological Advancements in Drilling Techniques: The Bureau of Land Management indicates that 85% of new onshore wells now require sophisticated artificial lift systems. This statistic reflects the growing complexity of drilling operations, particularly in horizontal and directional drilling environments. Advanced artificial lift technologies enable precise extraction in challenging geological conditions, improving overall well performance, reducing operational costs, and supporting the continued development of North America's oil and gas infrastructure.

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Industrial Boiler Market Size 2025-2029

The industrial boiler market size is forecast to increase by USD 3.2 billion at a CAGR of 3.6% between 2024 and 2029.

The market is witnessing significant growth, driven by the increasing popularity of hybrid boilers that offer energy efficiency and reduced emissions. This shift towards more sustainable energy solutions is further bolstered by the global trend towards renewable energy sources, such as solar and wind, which is leading to an increase in the adoption of electric boilers. However, regulatory hurdles impact adoption, with stringent emissions regulations necessitating costly upgrades and compliance measures. Additionally, supply chain inconsistencies, including raw material availability and price volatility, temper growth potential.
Additionally, there is a global shift toward solar and wind energy, which is leading to an increased demand for boilers that can effectively integrate with these renewable energy sources. Companies seeking to capitalize on market opportunities must navigate these challenges effectively by investing in research and development for advanced technologies and fostering strong supplier relationships. By doing so, they can differentiate themselves in the market and meet the evolving energy demands of industries.

What will be the Size of the Industrial Boiler Market during the forecast period?

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The market in the US is experiencing significant activity and trends, driven by the need for improved boiler performance, safety, and emissions reduction. Boiler replacement and installation continue to be key focus areas, with a growing emphasis on boiler codes, standards, and certification to ensure safety and compliance with regulations. Boiler combustion optimization and automation systems are increasingly adopted to enhance efficiency and reduce emissions, particularly in power generation applications. Renewable energy sources, such as biomass, are gaining traction in the market, leading to an increased demand for biomass boilers and boiler water treatment solutions. Boiler inspections, maintenance programs, and monitoring are essential for ensuring optimal boiler operation and longevity.
Fuels used in industrial boilers include oil, coal, and natural gas. The boiler industry focuses on advancements that improve efficiency, reliability, and sustainability across its entire boiler life cycle, from boiler installation and boiler commissioning to boiler repair and boiler life extension. Innovative practices such as boiler optimization, supported by modern boiler control systems and boiler automation systems, ensure seamless operations and enhanced functionality. Continuous boiler monitoring enables real-time tracking, while tools like boiler data analytics, boiler modeling, and boiler simulation allow detailed boiler performance analysis to identify areas for improvement. Efforts toward boiler emissions reduction and boiler efficiency improvement are key in meeting environmental standards. Adherence to boiler standards and boiler regulations compliance ensures safety and legal conformity. Boiler certification and boiler training programs empower operators with necessary skills, while boiler maintenance programs guarantee longevity. Industry-wide boiler innovation continues to push boundaries to optimize operations for diverse applications, ensuring long-term sustainability and efficiency.

How is this Industrial Boiler Industry segmented?

The industrial boiler industry research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD million' for the period 2025-2029, as well as historical data from 2019-2023 for the following segments.

Source

  Gas fired boiler
  Coal fired boiler
  Oil fired boiler
  Others


End-user

  Chemicals and petrochemicals
  Food processing
  Paper and pulp
  Power generation
  Others


Type

  Fire-tube boilers
  Water-tube boilers


Power Rating

  10-150 BHP
  51-300 BHP
  301-600 BHP


Geography

  North America

    US
    Canada


  Europe

    France
    Germany
    Italy
    UK


  APAC

    China
    India
    Japan
    South Korea


  Rest of World (ROW)

By Source Insights

The gas fired boiler segment is estimated to witness significant growth during the forecast period.

Industrial boilers play a crucial role in various commercial applications, including process heating, power generation, and water heating in industries such as textile mills, food processing, and data centers. Natural gas, an affordable and effective fuel, is widely used in industrial boilers due to its efficiency and lower operating costs compared to other non-renewable resources. According to the US Energy Information Administration (EIA), natural gas-fired combined-cycle plants had the highest capacity utilization percentage among fossil fuels in 2024. This t

According to Cognitive Market Research, the global N Methyldiethanolamine - MDEA market size is USD 781.2 million in 2024 and will expand at a compound annual growth rate (CAGR) of 6.00% from 2024 to 2031.

North America holds the major market of more than 40% of the global revenue with a market size of USD 312.48 million in 2024 and will grow at a compound annual growth rate (CAGR) of 4.2% from 2024 to 2031.
Europe accounts for a share of over 30% of the global market size of USD 234.36 million.
Asia Pacific holds the market of around 23% of the global revenue with a market size of USD 179.68 million in 2024 and will grow at a compound annual growth rate (CAGR) of 8.0% from 2024 to 2031.
Latin America holds the market of more than 5% of the global revenue with a market size of USD 39.06 million in 2024 and will grow at a compound annual growth rate (CAGR) of 5.4% from 2024 to 2031.
Middle East and Africa holds the major market of around 2% of the global revenue with a market size of USD 15.62 million in 2024 and will grow at a compound annual growth rate (CAGR) of 5.7% from 2024 to 2031.
The oil industry holds the highest N Methyldiethanolamine - MDEA market revenue share in 2024.

Market Dynamics of N Methyldiethanolamine - MDEA Market

Key Drivers for N Methyldiethanolamine - MDEA Market

Increasing Demand for Natural Gas to Propel the Market Revenue Growth

The increasing demand for natural gas is estimated to propel the industry revenue growth over the forecast period. MDEA is widely used in natural gas processing plants for removing acidic gases like hydrogen sulfide (H2S) and carbon dioxide (CO2) from natural gas streams. With the growing global demand for natural gas as a cleaner alternative to other fossil fuels, the demand for MDEA in the gas treatment process is expected to rise. For instance, according to the U.S. Energy Information Administration, India's domestic natural gas output is expected to expand by 3.7% year on average, from 3.3 billion cubic feet per day in 2022 to 9.1 billion cubic feet per day in 2050.

(Source: https://www.eia.gov/todayinenergy/detail.php?id=61423#:~:text=We%20expect%20India's%20net%20natural,a%204.9%25%20average%20annual%20increase.&text=Note%3A%20LNG%3Dliquefied%20natural%20gas,to%20its%20natural%20gas%20imports)

Rising Demand in Textile, Paints and Medical Sector to Propel Market Growth

The explosive rise of major economies worldwide has led to the expansion of industries including textiles, paints, and medicine. Textiles, paints, and medical supplies are in greater demand due to population growth and rising living standards. MDEA is a good substitute for TEA esterquats and is frequently used as an active ingredient in fabric softeners. MDEA can be used in the paint industry to cationically modify acrylic polymer dispersions. MDEA is used to create silicone-based textile finishing agents, together with perfluoroalkyl polymers. Subsequently, MDEA is used in the medical field as a precursor for some active ingredients.

Restraint Factor for the N Methyldiethanolamine - MDEA Market

Fluctuation in Oil & Gas Prices to Limit the Sales

The oil and gas sector, which uses MDEA for gas sweetening, is a major source of demand for the substance. Demand for MDEA may decline when oil and gas companies scale back operations and investments when market conditions are poor. For instance, the COVID-19 pandemic caused oil prices to drop significantly, which affected the market for MDEA. During the projected period, this component could impede the growth of the global market for N-Methyl Diethanolamine (MDEA).

Impact of Covid-19 on the N Methyldiethanolamine - MDEA Market

The COVID-19 pandemic has had a significant impact on various industries, including the chemicals sector, which includes the market for N-Methyldiethanolamine (MDEA). The pandemic disrupted global supply chains, causing delays in the transportation of raw materials and finished products. This could have affected the availability of MDEA and other chemicals, leading to potential supply shortages or delays in project timelines for gas processing plants and other industrial facilities. Additionally, the pandemic led to changes in energy consumption patterns, with a decrease in demand for certain fuels like gasoline and jet fuel due to travel restrictions and reduced economic activity. While natural gas remained relatively resilient...

Nuclear power had the highest capacity factor among energy sources in the United States, at over 92 percent in 2024. Geothermal energy-generating facilities followed and had the largest capacity factor among renewable sources at 65 percent. In contrast, natural gas and petroleum ranked the lowest. Cost of nuclear power in the United States Despite the large capacity factor, nuclear power plants had one of the highest levelized costs of electricity in the country. The operating expenses of nuclear utilities in the U.S. are nearly 50 percent lower than those of fossil fuel power plants, indicating higher capital expenditure for these facilities. Capacity factor of renewable energy plants Excluding geothermal energy, the capacity factor of renewable energy plants in the U.S. was roughly 34 percent for hydropower and wind energy and close to 23 percent for solar photovoltaic and solar thermal in 2023. Overall, the capacity factor of offshore wind power worldwide was at 41 percent in 2023, while the one of utility-scale solar PV was at approximately 16 percent in that year.