Pressure Pumping Market Research Report: Information
by Service Type (Hydraulic Fracturing, Cementing, and Others), Resource
Type (Conventional and Unconventional), Well Type (Horizontal, Vertical, and
Directional), and Region.
Global Pressure Pumping Market Overview
Increase in depletion in matured oil fields is
rising the demand for pressure pumps. There is a need to implement a complex
pumping system to drill into the shallows of the mature oil fields to procure
oil. 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.
This brings in the importance of drilling into
unconventional onshore resources like coalbed methane (CBM), tight oil, shale
oil which requires this specific drilling technique. Thus, increasing the
demand for pressure pumps that use hydraulic fracturing. The pressure pump is
economic and is predicted to cause a dip in the oil price in the forecasted
year. The unconventional oils have high porosity and less permeability that
makes the natural flow of oil difficult. The pressure pump plays a significant
role in oil extraction over other conventional techniques.
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Leading Players
The prominent companies those driving the global
pressure pump market are China Oilfield Services Ltd (China), Weatherford
International (US), Halliburton Company (US), Schlumberger Limited (US), Saipem
S.p.An (Italy), Superior Energy Services (US), Baker Hughes (US), Frac Tech
Services International, Trican (Canada) and Calfrac Well Services (Canada).
Pressure Pump Market Segmentation
The pressure pump market is segmented into well type
and services.
Based on the good type vertical it is further c
classified into land and offshore pressure pumping market.
Based on the services the pressure pump market is
further classified into cementing, hydraulics and fracturing.
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Regional Analysis
In the US, North America is leading in the pressure
pumping market. A CAGR of 2.6%. by 2021 is predicted for the North American
pressure pumping market. An escalation from USD 26.29 Billion in 2016 to USD
29.94 Billion is expected. They are making an investment in R&D for
innovation in the pressure pumping. Hydraulic fracturing service is observed to
be the largest pressure pumping service in North America.
In Europe, countries like Norway, Netherland and the
North Sea are contributing to the pressure pumping market growth. Recent oil
reserve discoveries and an increase in energy requirement are the factors
driving the European pressure pump market.
The Middle East is doing great in the pressure pump
market as they have great potential to raise the market but minimising their
dependency on the oil and gas market.
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