Pressure Pumping Market – Competitive Analysis
The market is highly competitive yet consolidated. Mergers & acquisitions, Innovation, brand reinforcement and partnership remain the key trends for leading players. They strive to develop HPP that can reduce the downtime and maintenance with longer life lowering the total costs. Due to the expected extensions in product, service, and product innovations, the Pressure Pumping Market is soon expected to witness a fierce competition.
Leading Key Players:
China Oilfield Services Ltd., Weatherford International, Halliburton Company, Schlumberger Limited, Saipem S.p.A., Superior Energy Services, and Baker Hughes are some of the prominent players at the forefront of competition in the Global Pressure Pumping Market and are profiled in MRFR Analysis.
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Global Market Highlights:-
New oil reserve discoveries increase the drilling and exploration activities in coming years which upsurge the demand for the market. For example, in Liberia, Exxon Mobile Corporation is planning to start oil drilling in its recently found oil reserves by 2018. Moreover, global increasing demand for energy cross the globe has resulted in rapid increase in the offshore drilling activities to meet the increasing demand, which ultimately has provided significant boost to the Pressure Pumping market. However, stringent government regulation as well as high installation cost of pressure pumping systems are the factors may hinder the market growth of the market.
The demand in the O&G industry, over the past decade, has increased significantly due to the augmenting demand for the energy and fuelled by the ever-increasing population, urbanization, and industrialization worldwide. On the other hand, depleting matured oil fields are encouraging the oil companies to shift their focus towards drilling activities, therefore increasing the drilling activities of the unconventional onshore fields which are substantiating the market growth of pressure pumping, generating a huge demand for these services.
The business combination brings a next-generation pressure pumping company, with a special Clean Fleet technology, with a customer-centric culture and commitment to drive safety and efficiency. The company looks forward to its expansion while anticipating robust customer demand in the years to come.
In January 2016, Trican Well Service Ltd announce that it has entered into a definitive agreement with Keane Group, a privately-held, U.S. based well completion services company for the sale of Trican’s United States pressure pumping business. The agreed purchase price for the disposition is USD 200 million, or CDN 285 million.
In March 2017, Trican and Canyon to combine to create premier canadian pressure pumping company
Global Wired Drill Pipe Market Segmentation:-
The Pressure pumping market has been segmented on the basis of Well Type as Land and Offshore. On the basis of Services the market has been segmented as cementing, hydraulics and fracturing.
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Global Pressure Pumping Market – Regional Analysis
Asia Pacific and Europe are the other major market for the Pressure Pumping. Increasing demand for energy due to urbanization & industrialization from the countries such as India, China, and Indonesia among others driving the demand of the market in Asia Pacific region. The Europe Pressure Pumping market is expected to be dominated by countries such as U.K, Norway and Russia. New discovery of oil has been found in the Laptev Sea offshore Northern Russia and several drilling projects have been approved in the Russian Arctic sea region closer to the North Pole are the factors driving the market in the region. It is expected to contribute significantly during the forecast period.
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