Hydraulic Fracturing Market, by Material Type (Copper, Low Carbon), End-Use (Residential, Commercial, Industrial), Implementation (New Construction, Retrofit) and Geography (North America, Europe, Asia-Pacific, Middle East and Africa and South America)
Hydraulic Fracturing Market Overview
The global hydraulic fracturing market is projected to reach USD 34.8 billion in 2021, at a CAGR of 8.6% during the forecast period 2021-2028.
Hydraulic fracturing is a technology in which the fluids are pumped into the well at a high injection level to breakdown the oil reservoirs. The fluid includes water, chemicals and sand. In oil and gas production, it is generally used to enhance the production of oil and gases reservoirs to keep the well sticky and also fracturing fluids are used in this technique to create a fracture of good width. This technique is also known as fracking. It is used to generate oil and gas from well. Fracking technique is provided by many oils and natural gas companies. It is also used in many applications such as crude oil, tight oil, shale oil etc.
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Increasing efforts by upstream companies to enhance the production from unconventional resources is the major factor that has supported long-term expansion for Hydraulic Fracturing Market.
Hydraulic Fracturing Market Regional Analysis
North America is estimated to be the largest market from 2021 to 2028, driven by the growth in unconventional resources in the US and Canada.
Hydraulic Fracturing Market Competitive Landscape
Key Players
• Schlumberger
• Halliburton
• Baker Hughes
• Calfrac Well Services
• FTS International
• Nabors Industries Ltd.
• Tacrom Services SRL
• Trican Well Services Limited
• United Oilfield Services
• Weatherford International Inc.
• Patterson-UTI Energy Inc.
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Hydraulic Fracturing Market Recent Developments
• In August 2021, NexTier Oilfield Solutions has acquired Alamo Pressure Pumping, LLC. With this acquisition, NexTier Oilfield Solutions will operate the third-largest base of active hydraulic horsepower across the US and the largest base of next-generation equipment in the Permian Basin.
• In July 2021, Schlumberger and Vedanta Ltd’s subsidiary Cairn Oil & Gas have collaborated to start a project on the production of tight oil at Aishwariya Barmer Hill (ABH) in Rajasthan, India. The Aishwariya Barmer Hill is India’s largest lateral fracking program.
Reasons to Acquire in the Hydraulic Fracturing Market
• Increase your understanding of the market for identifying the best and suitable strategies and decisions on the basis of sales or revenue fluctuations in terms of volume and value, distribution chain analysis, market trends and factors
• Gain authentic and granular data access for Hydraulic Fracturing Market so as to understand the trends and the factors involved behind changing market situations
• Qualitative and quantitative data utilization to discover arrays of future growth from the market trends of leaders to market visionaries and then recognize the significant areas to compete in the future
• In-depth analysis of the changing trends of the market by visualizing the historic and forecast year growth patterns
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