The demand for Hydraulic Fracturing Market is expected to be driven by the rapid increase in the rate of production and it provides access to strategy of shifting energy through natural gas and energy security by domestic supply. The increase in demand of energy and the increase in inclination towards production and exploration of non-conventional sources of energy such as shale gas and tight oil among others is expected to further drive the growth of the market. Favorable government rules and regulations and the increased government expenditure for promoting the extraction of natural resources is further expected to drive the growth of the market.
The Global Hydraulic Fracturing Market is expected to grow over the CAGR of around 11% during the period 2016 to 2020.
The key players of hydraulic fracturing market are Halliburton Company (U.S.), Schlumberger Limited (France), Weatherford International (U.S.), United Oilfield Services, Inc (U.S.), Cudd Energy Services (Texas), Calfrac Well Services Ltd. (U.S.), Trican Well Services Ltd (U.S.), Tacrom Services S.R.L (Romania), Superior Well Services, Inc. (U.S.) and others.
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Market Research Analysis:
Among all technologies, plug and perforation is most commonly used for the extraction of crude oil and natural gas. It is used in cased hole wells and is flexible in nature. Plug and perforation technique majorly helps in achieving high production rate. It is mainly used for shale oil and shale gas completions. It has the ability to be reworked in case of any problem or when production process pauses. The ease of accessibility provided by such technology for fracking in horizontal wells, make it a favorable technology than alternatives such as sliding sleeve and others.
North America Region is expected to dominate the hydraulic fracturing market with the highest CAGR. The region is expected to grow with the increase in extraction of minerals from the earth’s crust. In the Europe region, rising investigation for the development of available hydrocarbon reserve is expected to drive the growth of the market.
Scope of the Report:
This study provides an overview of the global hydraulic fracturing market, tracking three market segments across four geographic regions. The report studies key players, providing a five-year annual trend analysis that highlights market size, volume and share for North America, Europe, Asia Pacific (APAC) and Rest of the World (ROW). The report also provides a forecast, focusing on the market opportunities for the next five years for each region.
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The scope of the study segments the Global Hydraulic Fracturing Market by its Well Type, Technology, Application and Region.
- By Well Type
- By Technology
- Sliding Sleeve
- By Application
- Crude oil
- Shale gas
- Tight oil
- By Region
- North America
- Asia Pacific
- Rest of the World
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