Industrial Market Outlook in Review: Secondary Wave of Shale Gas Spending Reaching into Other Industries

SUGAR LAND--February 18, 2014--Researched by Industrial Info Resources (Sugar Land, Texas)--In 2014, the nation's expanding oil and gas production is poised to continue its dramatic growth, and this contributes to rising project spending across all industrial sectors. "We've realized a lot of the spending opportunity taking place in the field itself, getting the product to market, storage tanks, and things of that nature," said Bergen. "We're just now starting to get on the cusp of where other industries are benefitting from this development."

And these benefits are set to lift U.S. industrial project spending in 2014 by more than 10% from last year. For the past few years in the U.S., much of the spending that has occurred has been directly involved in the oil & gas extraction process: drill pipe fabrication, fracking equipment producers, steel pipe/tube mills, etc. Spending is now reaching into new sectors. Midstream natural gas processing and fractionation projects have escalated significantly, particularly in the Eagle Ford and Marcellus areas.