Hydraulic Fracturing Market Hydraulic fracturing technology Comprehensive Research Study by Forecast

Industry Top Key Players:-

The key players of global hydraulic fracturing market are Baker Hughes GE (U.S.), Schlumberger (U.S.), National Oilwell Varco, Inc. (U.S.), Patterson-UTI Energy (U.S.), FracChem LLC. (U.S.), TechnipFMC (UK), U.S. Silica Holdings (U.S.), Halliburton (U.S.), Nuverra (U.S.), FTS International (U.S.), US Well Services (U.S.), Franklin Well Service LLC (U.S.), and EOG Resources (U.S.).

Market Highlights:-

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. The increase in demand of energy and the increase in inclination towards production and exploration of non-conventional sources of energy such as shale gas and tight oil among others is expected to further drive the growth of the market. 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.

Hydraulic fracturing is modern technology, in which fluids are pumped into the oil wells at the injection rate which is so high that the formation of the oil reservoir breaks down. According to the U.S. Department of Energy, up to 95% of the new wells that are being drilled currently or are drilled recently are fractured hydraulically. This accounts for around 75% of total natural gas production and almost 50% of total crude oil production from the U.S.

The energy industry has observed the transition from conventional crude oil and natural gas to shale oil & gas and gas hydrates. With the increasing demand for fuels from growing nations, large-scale shale oil production has been started globally. Most of the shale rocks are semi-permeable, and thus, oil produced is called tight oil. To extract oil from these rocks, conventional drilling techniques, as well as the drilling fluids used for normal crude oil or gas production, are inefficient. Hydraulic fracturing technology gains advantage from the increasing shale production and the increased demand for energy fuels. Fracturing helps in forming cracks in tight rocks and thus, reaching out to oil.

Segmentation:-

Global hydraulic fracturing market has been segmented on the basis of well type, technology, application, and region. Based on technology, the market is further segmented into plug-and-perforation, sliding sleeve, and others. Amongst these, the plug-and-perf segment dominates the global market due to the advantage of having a large number of individually fractured stages in the wellbore. On the basis of well type, global hydraulic fracturing market is classified into horizontal and vertical. The horizontal hydraulic fracture technology is prominent in the market due to its advantage of fracturing multiple oil wells from the same point. Based on application, hydraulic fracturing market is segmented into crude oil, shale gas, tight oil, and others. Tight oil segment is dominating the global market with increasing demand for oil from non-conventional sources, and shale rocks are having low permeability.

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. The scope of the study segments the global Hydraulic Fracturing Market by its well type, technology, application and region.

Research Analysis:-

North America region is expected to dominate the hydraulic fracturing market with the highest CAGR. The region is expected to grow with the increase in extraction of minerals from the earth’s crust. In the Europe region, rising investigation for the development of available hydrocarbon reserve is expected to drive the growth of the market.

Among all technologies, plug and perforation is the 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.

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