The U.S. Energy Department states that nowadays, approximately 95% of newly drilled wells are hydraulically fractured. It accounts for almost half of the U.S. crude oil production and two-thirds of the total U.S. natural gas production. This information is present in a report by Fortune Business Insights, titled, “Hydraulic Fracturing” Market Size, Share & Industry Analysis, By Well Type (Horizontal, and Vertical), By Technology (Plug & Perf, and Sliding Sleeve), and By Application (Onshore, and Offshore), Regional Forecast, 2019-2026.” According to the report, the global hydraulic fracturing market is projected to reach USD 71.72 Billion by 2026, thereby exhibiting a CAGR of 8.69% during the forecast period. However, the global market was valued at USD 37.23 Billion in 2018.
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The report classifies and defines the global hydraulic fracturing market on the bases of well type, technology, geography, and application. It aids in identifying the tailwinds and headwinds for the global market. The report also strategically profiles the key market players and offers in-depth insights on the growth drivers, obstacles, opportunities, challenges, ongoing developments, and trends.
Fortune Business Insights profiles some of the prominent players operating in the global hydraulic fracturing market. They are:
- Baker Hughes, a GE Company
- FTS International
- BJ Services
- Cudd Energy Services
- ProPetro Holding Corp.
- Calfrac Well Services
- Liberty Oilfield Services
- Trican Well Services Ltd.
- Basic Energy Services
- Superior Energy Services
- RockPile Energy Services
- US Well Services
Hydraulic Fracturing Market Landscape and Market Scenario Includes:
- Current market size estimate
- Revenues by players Top Companies
- Market size by product categories
- Market size by regions/country
Important Features that are under Offering and Key Highlights of the Market Report:
- Detailed overview of Market Share
- Changing market dynamics of the industry
- In-depth market segmentation by Type, Application, etc.
- Historical, current and projected market size in terms of volume and value
- Recent industry trends and developments
- Competitive landscape of Market
- Strategies of key players and product offerings
- Potential and niche segments/regions exhibiting promising market growth
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Queries Addressed In The Hydraulic Fracturing Market Report:
- What opportunities are present for the market players to enhance their business footprint?
- What manufacturing techniques are being implemented in the development of advanced Construction Equipment?
- Which segment is witnessing huge traction from the consumers?
- For what purposes, is the market being utilized?
- How many units are estimated to be sold in 2020?
Key Market Driver – Increase in demand of oil and natural gas
Key Market Restraint – High cost of equipment
1. By Well Type
2. By Technology
- Plug & Perf
- Sliding Sleeve
3. By Application
- Convention Drilling
- Unconventional Drilling
- Shale Reserve
- Tight Reserve
4. By Geography
- North America (the USA and Canada)
- Europe (UK, Germany, France, Italy, Spain, Russia and Rest of Europe)
- Asia Pacific (China, India, Japan, Australia, Southeast Asia and Rest of Asia Pacific)
- Latin America (Brazil, Mexico and Rest of Latin America)
- Middle East & Africa (GCC, South Africa, and Rest of Middle East & Africa)
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Offshore Segment to Grow Rapidly Owing to Numerous Unexplored Region
In terms of application, the global hydraulic fracturing market is grouped into onshore and offshore. Out of these, the onshore hydraulic fracturing is likely to exhibit notable growth during the forecast period. It is likely to occur due to the competitive cost of onshore drilling operation and the availability of advanced technology. Hence, numerous government agencies, as well as organizations are investing huge sums in the development of onshore exploration activities. It is expected to continue throughout the forthcoming years due to reasonable operational accessibility. The report further mentions that offshore hydraulic fracturing is projected to have immense potential to grow in the coming years. Availability of hydrocarbon in abundance and the presence of several unexplored regions are two of the main factors that would propel growth of the offshore segment.
Ease of Operation to Increase Usage of Plug and Perf Technology Across the World
On the bases of technology, the global hydraulic fracturing market is categorized into sliding sleeve and plug and perf. Amongst these, the plug and perf sub-segment is anticipated to grow at a fast pace during the forecast period. Competitive cost and ease of operation are two of the most significant factors that would drive the segment in the coming years. Moreover, it not only cuts down the production cost but also enables the performance of well for higher production. Because of all the above benefits, the plug and perf technology is commonly used across the world. But, the sliding sleeve technology segment is still undergoing research and development.
Halliburton Unveils Elect Frac Sleeve to Enable Unlimited Stage Count
Halliburton, an oil field service company, based in the U.S., launched its new monobore sleeve solution called Elect frac sleeve in July 2019. The solution is an innovative step towards the field of completion sleeves. It allows unlimited stage count in a multistage fracturing operation. It further supports more flexibility for highly optimized reservoir access and provides options for pinpoint well simulation. It doesn’t have flow rate restrictions and inner diameter for contacting with the reservoir or optimizing zonal simulation treatment. One of the advantages of having no internal restrictions is that it would enable longer laterals and more frac treatment options.
Furthermore, the new sleeve utilizes the power of electronics to provide efficient hydraulic fracturing. Software, firmware, and hardware work in tandem to transform the sleeves into a downhole solution. The solution is based on pre-programmed parameters. It is one of the most innovative technologies that would take Halliburton forward in the evolution of digital competition solutions.
Key Features of Hydraulic Fracturing Market Research Report:
- This report provides detail analysis of the market and have a comprehensive understanding of the market and its commercial landscape.
- Learn about the various market strategies that are being adopted by leading companies.
- It provides a five-year forecast assessed based on how the market is predicted to grow.
- It provides insightful analysis of changing competition dynamics and keeps you ahead of competitors.
- To understand the future scope and outlooks for the market.
- Market Forecast by regions, type and application, with sales and revenue, from 2020 to 2026.
- Market Share, distributors, major suppliers, changing price patterns and the supply chain of raw materials is highlighted in the report.
- Market Size (sales, revenue) forecast by regions and countries from 2020 to 2023 of industry.
- The global market Growth is anticipated to rise at a considerable rate during the forecast period, between 2020 and 2023. In 2020, the market was growing at a steady rate and with the rising adoption of strategies by key players, the market is expected to rise over the projected horizon.
- Market Trend for Development and marketing channels are analysed. Finally, the feasibility of new investment projects is assessed and overall research conclusions offered.
- Market Report also mentions market share accrued by each product in the market, along with the production growth.
Lastly, this report covers the market landscape and its growth prospects over the coming years, the Report also brief deals with the product life cycle, comparing it to the relevant products from across industries that had already been commercialized details the potential for various applications, discussing about recent product innovations and gives an overview on potential regional market shares.
Table of Content
5. Global Hydraulic Fracturing Market Analysis (USD Billion), Insights and Forecast, 2015-2026
5.1. Key Findings / Summary
5.2. Market Analysis, Insights and Forecast – By Well Type
5.3. Hydraulic Fracturing Market Analysis, Insights and Forecast – By Technology
5.3.1. Plug & Perf
5.3.2. Sliding Sleeve
5.4. Market Analysis, Insights and Forecast – By Application
5.5. Market Analysis, Insights and Forecast – By Country
5.5.7. Rest of the World
6. U.S. Hydraulic Fracturing Market Analysis (USD Billion), Insights and Forecast, 2015-2026
6.1. Key Findings / Summary
6.2. Hydraulic Fracturing Market Analysis, Insights and Forecast – By Well Type
6.3. Market Analysis, Insights and Forecast – By Technology
6.3.1. Plug & Perf
6.3.2. Sliding Sleeve
6.4. Market Analysis, Insights and Forecast – By Application
7. Canada Hydraulic Fracturing Market Analysis (USD Billion), Insights and Forecast, 2015-2026
7.1. Key Findings / Summary
7.2. Market Analysis, Insights and Forecast – By Well Type
7.3. Market Analysis, Insights and Forecast – By Technology
7.3.1. Plug & Perf
7.3.2. Sliding Sleeve
7.4. Hydraulic Fracturing Market Analysis, Insights and Forecast – By Application
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