pressure
pumping is a method used to extracts minerals and other resources from low
permeability reservoirs. The method is gaining popularity and is anticipated to
gain traction in the coming years. Market Research Future (MRFR)' study states
that the global Pressure Pumping Market
is set to strike 9.57% CAGR across the assessment period 2019 to 2025. The
market is also estimated to exceed valuation of USD 78 Bn by 2025.
This
method finds application in the extraction of unconventional resources such as
shale gas, tight oil & gas, etc. Increasing exploration of these resources
is expected to drive the growth of the pressure pumping market over the next
couple of years. In addition, the depleting sources of natural resources have
led to a rise in the extraction of unconventional resources. It is anticipated
to influence the expansion of the pressure pumping market greatly in the years
to come.
Increasing
use of hydraulic fracturing in the oil & gas industry is also
prognosticated to anchor the pressure umping market on its growth trajectory.
Rising investments in advanced methods of pressure pumping are projected to
boost revenue creation for the market players. On the other side, the
implementation of strict regulations regarding the method remains an impediment
to the growth of the pressure pumping market.
Market
Segmentation:
The
segments of the global pressure pumping market, based on service type, are
hydraulic fracturing, cementing, and others. Among these, the hydraulic
fracturing segment is expected to lead the growth of the market. The extensive
use of hydraulic fracturing in extraction of unconventional minerals is
anticipated to boost the expansion of the segment in the years to come.
On
the basis of resource type, the global pressure pumping market has been divided
into conventional and unconventional. The unconventional segment is expected to
hold a larger market share due to rising demand for shale gas. It is projected
to dominate the market over the next couple of years.
By
well type, the segmental analysis of the global pressure pumping market covers
- horizontal, vertical, and directional. Among these, the horizontal segment is
assessed to dictate the growth pattern of the market over the next few years.
Regional
Analysis:
The
geographical analysis of the global pressure pumping market spans across five
regions - North America, Asia Pacific (APAC), Europe, the Middle East &
Africa (MEA), and South America. These regions are narrowed down to a
country-level analysis for presenting a detailed insight. Among these, North
America is the most prominent regional segment. Rising exploration activities
of shale gas in the region is leading the growth of the pressure pumping
market. In addition, the availability of huge reserves of shale gas in the
region ensures an attractive future trajectory of the pressure pumping market
for the next couple of year. The U.S. is projected to hold a prominent position
in the regional market. in addition, the nation's offshore drilling activities
in the Gulf of Mexico is poised to catalyze market growth in the nearby future.
Competitive
Dashboard:
Baker
Hughes, a GE Company (US), National Oilwell Varco (US), Weatherford
International Inc. (US), Schlumberger (US), Trican (Canada), Key Energy
Services (US), RPC Inc. (US), Sanjel Corporation (Canada), Calfrac Well
Services Ltd. (Canada), Frac Tech Services International (US), China Oilfield
Services Ltd. (China), Patterson-UTI Energy, Inc. (US), Saipem S.p.A. (Italy), and
Superior Energy Services (US) are some of the important players in the global
pressure pumping market.
About Market
Research Future:
At Market Research Future (MRFR), we
enable our customers to unravel the complexity of various industries through
our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw
Research Reports (3R), Continuous-Feed Research (CFR), and Market Research
& Consulting Services.
Read More:
No comments:
Post a Comment