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 Trends over the next
couple of years.
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.
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.
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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