Hydraulic Fracturing
Services Market - Synopsis
Hydraulic fracturing is
used for extraction of unconventional resources. With the rising demand for
pressure pumping, the hydraulic fracturing market is expected to witness a boom
in the years to come. According to Market Research Future (MRFR)’s analysis,
the Hydraulic
Fracturing Services Market is anticipated to mark 14% CAGR across the
forecast period 2018 to 2023.
Increasing investments in
the exploration of unconventional resources such as tight oil, shale gas, etc. are
likely to create opportunities for the players in the hydraulic fracturing
market. Also, the depletion of natural resources has led to an increase in
demand for these unconventional resources. This, in turn, is expected to lead
the growth of the market over the next couple of years.
The market is expected to
witness advancements in the forthcoming years. It is anticipated to open new
growth avenues for the market participants over the assessment period. However,
the strict regulations imposed by the governments for the protection of the environments
are poised to check the expansion of the hydraulic fracturing market over the
next couple of years.
Hydraulic Fracturing
Services Market Segmentation:
The segments of the
global hydraulic fracturing services market, on the basis of technology, are
sliding sleeve, plug-and-perforation, and others. Among these, the plug-and-perforation
segment is expected to lead the growth of the market over the next couple of
years.
The hydraulic fracturing
market has been divided on the basis of well type into horizontal and vertical.
The horizontal segment is anticipated to hold a prominent market share during
the forecast period owing to its efficiency in cracking multiple oil wells from
the same point.
The segmental assessment
of the global hydraulic fracturing services market, on the basis of
application, covers crude oil, tight oil, shale gas, and others. Among these,
the tight oil segment is anticipated to lead the expansion of the market owing
to rising demand for unconventional resources. The shale gas segment is also
anticipated to hold a substantial share of the market in the years to come.
Regional Analysis:
The geographical
assessment of the hydraulic fracturing market spans across four regions that
are further analyzed on a country-level basis. The key regions identified in
this study are North America, Europe, Asia Pacific (APAC), and the Rest of the
World (RoW). North America is expected to dictate the proliferation of the
global market over the next couple of years. The availability of vast reserves
of shale gas in the region is expected to drive the expansion of the market in
the region in the upcoming years. In addition, investments in the exploration
of shale gas are also expected to increase. This, in turn, is prognosticated to
influence the expansion of the hydraulic fracturing market significantly in the
years to come. The U.S. is assessed to lead the regional market over the next
few years.
Competitive Dashboard:
Baker Hughes GE (U.S.),
National Oilwell Varco, Inc. (U.S.), Schlumberger (U.S.), Patterson-UTI Energy
(U.S.), TechnipFMC (UK), FracChem LLC. (U.S.), U.S. Silica Holdings (U.S.),
Nuverra (U.S.), Halliburton (U.S.), FTS International (U.S.), Franklin Well
Service LLC (U.S.), US Well Services (U.S.), and EOG Resources (U.S.) are few
of the major players operating in the global hydraulic fracturing market.
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