Market Research Future (MRFR) analysts, after careful analysis, state that the Global Hydraulic Fracturing Market is projected to expand at a CAGR of 14% during the forecast period (2018-2023). Hydraulic fracturing can be described as a modern technology wherein fluids are pumped at an injection rate into the oil wells which are so high leading to the formation of the oil reservoir breaking down. The fluids that are injected in the reservoirs traditionally are inclusive of water sand and chemicals. Owing to continuous advancements in technology in recent times, the drilling companies have implemented hydraulic fracturing coupled with horizontal drilling to enable drilling of various wells from the same spot. At present, with ongoing oil and gas production, the hydraulic fracturing process is used for the optimization of the production of oil & gas from the reservoirs on a global level.
In addition, increasing number of oil & gas reserves in the shale basins will be responsible for the growth of the hydraulic fracturing market. Moreover, oil & gas are consumed for basic energy in power generation, transportation as well as household activities across the globe, which will positively enhance the market growth.
Also, prominent manufacturers of oil & gas are noting a decline in the petroleum production levels resulting from the depletion of conventional reserves; widening the demand-supply gap. Hence, the petroleum extirpation has increased from unconventional reserves with the use of horizontal drilling along with hydraulic fracturing techniques. Other drivers include changing preferences of the manufacturers towards unconventional reserves such as coal bed methane, shale, tight gas, and tight oil.
NSI Technologies is set to present its new cloud-based version of the leading three-dimensional hydraulic fracturing design software known as StimPlan at the SPE Hydraulic Fracturing Technology Conference and Exhibition in Texas in February 2019. StimPlan is an integrated software solution used for the design of hydraulic fracture, and also for its analysis and optimization.
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Global hydraulic fracturing market is anticipated to expand at a phenomenal rate during the forecast period due to increased shale oil & gas revolution, rising demand for oil, and rising concern for the depletion of natural resources. North America is expected to dominatein terms of market share of the hydraulic fracturing market as a reason that shale oil & gas production is increasing every year from U.S. and Canada. According to U.S. EIA, in 2017, the total tight oil produced in the U.S. was about 4.67 million barrels per day, accounting up to 50 % of total crude oil production from the country.
- Patterson-UTI Energy (U.S.)
- U.S. Silica Holdings (U.S.)
- US Well Services (U.S.)
- National Oilwell Varco, Inc. (U.S.)
- Schlumberger (U.S.)
- FracChem LLC. (U.S.)
- TechnipFMC (UK)
- Halliburton (U.S.)
- Baker Hughes GE (U.S.)
- FTS International (U.S.)
- Nuverra (U.S.)
- Franklin Well Service LLC (U.S.)
- EOG Resources (U.S.)
The market for hydraulic fracturing is segmented on the basis of well type, technology, and application.
Based on the Type of Technology
- Sliding sleeve
By Well Type
- Crude oil
- Shale gas
- Tight oil
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Table of content
1 Executive Summary
2 Scope of the Report
3 Market Landscape
4 Market Dynamics
5 Global Hydraulic Fracturing Market, By Technology
6 Global Hydraulic Fracturing Market, By Well Type
7 Global Hydraulic Fracturing Market, By Application
8 Global Hydraulic Fracturing Market, By Region
9 Competitive Landscape
10 Company Profile
To be Continue ……….
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