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. 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 Trends 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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