by Luke Hickman
December 12, 2017
US energy production is forecast to total 98.0 quadrillion British thermal units (Btu) in 2021, representing 3.1% annual gains from 84.0 quadrillion Btu in 2016. Three segments will drive the majority of these gains.
The US is the world’s largest natural gas producer, and has been since 2009. In addition, 2017 is expected to be the first time in nearly 60 years that the US will register as a net exporter of natural gas. While domestic production will displace imports from Canada, expanded export capacity infrastructure will allow US producers to pipe more natural gas to Mexico or ship it overseas in the form of liquefied natural gas (LNG).
Production of petroleum in the US has seen some of the biggest increases over the past decade, despite declines in domestic demand for the resource. Significant investment in unconventional oil plays in the US has allowed those regions to be among the most economic for oil production. The EIA reports that crude oil and petroleum product exports reached record levels in the first half of 2017. This trend is expected to continue as US production rises alongside a decline in domestic demand through 2021.
Since 2011, solar energy and wind energy have led gains in primary energy production, with average annual growth of 34% and 11%, respectively. Wind energy production is expected to continue to expand, surpassing production from more developed renewable sources – including wood and waste biomass, hydropower, and biofuels – and becoming the largest source of renewable energy in the US by 2021. Solar energy, which is still in the early stages of development in the US, is expected to continue to see the fastest growth through 2021 as investment in solar technologies continue to make the resource more economical.
For more insights into the US energy market, see Energy: United States, a report recently released by the Freedoina Focus Reports division of The Freedonia Group. This report forecasts US energy demand and production in Btu to 2021. Total demand and production are segmented by resource in terms of:
Total demand is also segmented by market as follows:
For more insights into the US renewable energy market, see Renewable Energy: United States, a report recently released by the Freedoina Focus Reports division of The Freedonia Group. This report forecasts US renewable energy demand and production in Btu to 2021. Total demand is segmented by resource in terms of:
Total demand is also segmented by market as follows:
Other related Freedonia Focus Reports include Coal: United States, Crude Petroleum: United States, Motor Vehicle Biofuels: United States, Natural Gas: United States, and Refined Petroleum Products: United States.
Luke Hickman is a Market Research Analyst for Freedonia Focus Reports. He holds a degree in economics, and his experience as an analyst covers multiple industries.
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