Global Pressure Pumping Market - Overview
According to Market Research Future (MRFR), the global
Pressure Pumping Market size
is expected to reach USD 78.17 billion, with an estimated 9.57% CAGR from 2019
to 2025 (forecast period). The report assesses the effect of the COVID-19
pandemic on the global pressure pumping market and presents a reliable
estimation of the anticipated fluctuations in demand over the forecast period.
Global Pressure Pumping Market Research Report:
Information by Service Type (Hydraulic Fracturing, Cementing, and Others),
Resource Type (Conventional and Unconventional), Well Type (Horizontal,
Vertical, and Directional), and Region. The major factors driving the growth of
the global pressure pumping market include exploring unconventional resources
in the oil & gas industry.
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Sample Copy of Pressure Pumping Market Report at: https://www.marketresearchfuture.com/sample_request/1354
Top Players analyzed in the Pressure Pumping Market
are:
The industry giants in the global pressure pumping
market are Baker Hughes, a GE Company (US), Calfrac Well Services Ltd.
(Canada), Halliburton (US), Key Energy Services (US), Schlumberger (US),
Weatherford International Inc. (US), Trican (Canada), RPC Inc. (US), Sanjel
Corporation (Canada), China Oilfield Services Ltd. (China), Saipem S.p.A.
(Italy), Frac Tech Services International (US), Patterson-UTI Energy, Inc.
(US), National Oilwell Varco (US), and Superior Energy Services (US).
Industry Highlights
Pressure pumping is a process of fracture propagation
through several layers of rock using pressurized fracturing fluid and pumping
cement into the wellbore to complete it. This method is typically used to extract
resources from low permeability reservoirs like shale gas and unconventional
liquids, which are difficult to recover by regular drilling procedures.
Furthermore, the depleting state of conventional resources has led the global
oil & gas industry to explore and benefit from unconventional resources
like shale gas, tight oil & gas, and coal bed methane. The extraction of
unconventional resources requires specific techniques that contribute to the
use of hydraulic fracturing. Hydraulic fracturing is considered a crucial
technology that has made the most unconventional resources, including
unconventional natural gas obtained by traditional extraction.
COVID-19
Impact Analysis on Pressure Pumping Market at: https://www.marketresearchfuture.com/report/covid-19-impact-pressure-pumping-market
Market Dynamics
The factor contributing to the global pressure pumping
market's growth include exploring unconventional resources in the oil & gas
sector. Increasing exploration and procurement activities in unconventional oil
and gas reserves, particularly in shale basins, is expected to increase the
demand for pressure pumping as it helps in hydraulic fracturing. For example,
in May 2016, Halliburton (US) signed a four-year contract with Wintershall
Holding GmbH (Germany) to provide drilling-related services to the Wintershall
Maria project in Norway. The increasing use of hydraulic fracturing is the key
driver of the market's growth for pressure pumping.
In addition, the global market for pressure pumping is
expected to rise at a high pace during the forecast period due to rising
hydraulic fracturing in the oil & gas industry and increasing energy
demand. The growth of unconventional resources is being witnessed worldwide,
especially in North America, where the demand for pressure pumping has grown
dramatically due to the advent of shale gas and other unconventional
resources.
In addition, increasing shale gas basins, increased
use of unconventional sources, and waterless fracturing foams are predicted to
generate growth opportunities for the global pressure pumping industry.
However, strict government regulations on pressure pumping and concerns about
seismic activities could constrain the growth of the global market for pressure
pumping.
Global Pressure Pumping Market Segmentation
The global Pressure Pumping Industry has
been segmented based on service type, resource type, and well type.
Based on service type, the global pressure pumping
market has been segmented into hydraulic fracturing, cementing, and others. The
hydraulic fracturing segment is expected to register the highest market share
in the forecast period. Hydraulic fracturing is a method of pumping fluid into
a wellbore to create enough pressure to crack or fracture the rock layer. The
fluid normally contains a proppant that helps keep the fractures open so that
oil and gas can be produced to the well.
Based on the resource type, the global pressure
pumping market has been divided into conventional and unconventional. The unconventional
segment is anticipated to lead the market for pressure pumping during the
forecast period. Unconventional resources have been used worldwide, especially
in North America. For example, the exploration of shale gas and other
unconventional resources in North America is expected to drive the pressure
pumping market over the forecast period.
By well type, the global pressure pumping market has
been divided into horizontal, vertical, and directional. The horizontal segment
is projected to dominate the global pressure pumping market.
Regional Analysis of Pressure Pumping Market
Based on the region, the global pressure pumping
market has been segmented into North America, Asia Pacific, South America,
Europe, and the Middle East & Africa.
North America is projected to hold the largest market
share in the forecast period due to the abundance of unconventional wells and
the development of alternative drilling technologies in North America. The US
is predicted to dominate the North American pressure pumping market. In
addition, vast hydrocarbon resources in the US Shale basins and continuous
offshore drilling in the Gulf of Mexico region is projected to drive the
pressure pumping market in the region.
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Report Details at: https://www.marketresearchfuture.com/reports/pressure-pumping-market-1354
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