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 global hydraulic
fracturing 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. 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.
Market
Segmentation:
The
segments of the global hydraulic fracturing 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 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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