Market Forecast and Overview:
The Global Hydraulic Fracturing Market is expected to grow over the CAGR of around 11% during the period 2016 to 2020.
The hydraulic fracturing market is growing due to the abundance of unconventional reserves such as tight oil, shale gas, coal bed methane and others. The rising concern regarding the depletion of conventional oil and gas blocks along with the shift in focus towards development of the unconventional resource is expected to drive the demand of hydraulic fracturing market share. Besides the introduction of various government initiatives and the introduction of tax incentives, FDI provision and financial aids in the hydrocarbon sector are further expected to drive the demand of the market. However, the huge cost involved in the process of hydraulic fracturing is expected to hamper the growth of the market.
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. 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.
Top Market Players:
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.)
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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 Accounts for the Highest Market Share:
North America region is utilizing hydraulic fracturing on a very large scale due to presence of natural resources in huge quantities. A large number of wells in the region are stimulated by the use of hydraulic fracturing. Shale gas reserves in North America are attracting many huge companies as the gas is clean and green fuel compared to oil and coal. The successful evolution of shale gas reserves, has reduced the dependency of the region on foreign crude oil and natural gas, thereby leading to 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.
Details of Report @ https://www.marketresearchfuture.com/reports/hydraulic-fracturing-market-2532
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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