Pressure
Pumping Market Overview:
Pressure pumping is a propagation of fractures through
layers of rock using pressurized fracturing fluid and pumping the cement into
the well bore to complete it. It is primarily used to extract resources from
low permeability reservoirs such as shale gas, and unconventional liquids,
which are difficult to recover through regular drilling procedures.
Significant depletion of matured oil fields has forced
Oil companies to shift their focus towards drilling activities. Pressure
pumping being an essential part of pumping oil from matured oil fields and
increased drilling activities to pump oil from unconventional onshore fields is
leading to a significant increase in the demand in the pressure pumping market.
With the further depletion of oil fields the market for pressure pumping is
going to witness further growth due to increasing complexity of pumping oil
from shallow oil fields.
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Key
Players
Some of the key players in the Pressure Pumping market
are Weatherford International, China Oilfield Services Ltd., Halliburton
Company, Saipem S.p.A., Schlumberger Limited, Baker Hughes and Superior Energy
Services
Segmental
Overview:
The pressure pumping market has been segmented on the
basis of Well Type as Land and Offshore.
Based on services, the market has been segmented into
cementing, hydraulics fracturing, and others. Hydraulics fracturing dominates
the service segment of global market. Hydraulics fracturing is aprocess of
pumping fluid into a wellbore to create enough pressure to crack, or fracture,
the rock layer. The fluid usually contains a proppant like sand, that helps
keep the fractures open to allow oil and gas to be produced to the well.
Cementing services is the second major segment for pressure pumping market and
it is expected to witness strong growth over the forecast period.
Based on well type, the market has been segmented land
and offshore. Onshore dominates the well type segment of global market.
Offshore segment is expected to be the fastest growing segment during the
forecast period. Increasing the exploration activities in deep and ultra-deep
waters especially in the North Sea, and Gulf of Mexico is expected to drive
demand in the sector over the forecast period.
Segmentation by Regions: Comprises Geographical regions
– North America, Europe, Asia Pacific, Middle East & Africa and South
America.
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Regional
Analysis of Pressure Pumping Market:
North America dominates the Pressure Pumping market.
The U.S. accounts for the largest market share in the North American region.
The advancements in unconventional drilling technologies, which have attracted
capital for oil and gas drilling projects. Additionally, vast hydrocarbon
resources in the U.S. Shale basins and continuous offshore drilling in the Gulf
of Mexico region, are driving the demand of the market.
Asia Pacific and Europe are the other major market for
the Pressure Pumping. Increasing demand
for energy due to urbanization & industrialization from the countries such
as India, China, and Indonesia among others driving the demand of the market in
Asia Pacific region. The Europe Pressure Pumping market is expected to be
dominated by countries such as U.K, Norway and Russia. New discovery of oil has
been found in the Laptev Sea offshore Northern Russia and several drilling
projects have been approved in the Russian Arctic sea region closer to the
North Pole are the factors driving the market in the region. It is expected to
contribute significantly during the forecast period.
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