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Hydraulic Fracturing Market

Hydraulic Fracturing Market

Hydraulic Fracturing Market Global Industry Assessment & Forecast

Number Of Pages # Pages:

144

Base Year:

2021

Date

Jun - 2022

Format:

PDF XLS PPT

Report Code:

VMR-1645

Segments Covered
  • By Technology Plug & Perf, Sliding Sleeve
  • By Application Shale Gas, Tight Oil, Tight Gas
  • By Well Type Horizontal Well, Vertical Well
  • By Region North America, Europe, Asia Pacific, Latin America, Middle East & Africa
Snapshot
Forecast YearsForecast Years: 2022 - 2028
Historical YearsHistorical Years: 2016 - 2021
Revenue 2021Revenue 2021: USD 33.9 Billion
Revenue 2028: USD 51.7 Billion
Revenue CAGR (2022 - 2028): 7.3%
Fastest Growing Region (2022 - 2028) Asia Pacific
Largest Region (2021): North America
Customization Offered
  • Cross-segment Market Size and Analysis for Mentioned Segments
  • Additional Company Profiles (Upto 5 With No Cost)
  • Additional Countries (Apart From Mentioned Countries)
  • Country/Region-specific Report
  • Go To Market Strategy
  • Region Specific Market Dynamics
  • Region Level Market Share
  • Import Export Analysis
  • Production Analysis
  • Others Request Customization Speak To Analyst

Global Hydraulic Fracturing Market

Hydraulic Fracturing Market- By Technology, Application, Well Type, and Region.

Market Synopsis:

The Global Hydraulic Fracturing Market is valued at USD 33.9 Billion in the year 2021 and is forecasted to reach a value of USD 51.7 Billion by the year 2028. The Global Market is anticipated to grow exhibiting a Compound Annual Growth Rate (CAGR) of 7.3% over the forecast period.

Hydraulic Fracturing Market Size, 2021 To 2028 (USD Billion)

The Hydraulic Fracturing Market is witnessing growth during the forecast period owing to the increasing efforts by upstream companies to enhance the production from unconventional resources. The increasing demand for gas, oil, and other petroleum products is fueling the growth of the Hydraulic Fracturing Market during the forecast period. Additionally, as the demand for advanced technology, equipment and tools increases, the demand for fracturing, completion, and drilling will increase which is predicted to boost the Hydraulic Fracturing Market growth in the coming years.

Furthermore, in many exploring activities, unconventional and conventional hydrocarbons reserve in many formations are expected, which is to increase the growth of the industry during the forecast period. Whereas, the cost reduction of oilfield services, fluctuating in oil prices, and increase in production are the factors boosting the growth of the Hydraulic Fracturing Market during the forecast period. Additionally, the demand for oil and gas is increasing with the increase in production is driving the Hydraulic Fracturing Market growth during the forecast period.

The awareness regarding the protection of the environment in many developed and emerging countries can restrain the growth of Hydraulic Fracturing Market. The strict rules and regulations by the national government regarding the use of Hydraulic Fracturing can also restrain market growth. Additionally, a significant upsurge in the number of exploration and manufacturing activities in the fuel and gas sector is anticipated to drive the market during the forecast period. Besides, High water usage and environmental concerns associated with Hydraulic Fracturing, and growing concerns regarding seismic activities due to Hydraulic Fracturing are hampering the growth of the Hydraulic Fracturing Market during the forecast period.

Market Segmentation:

The Hydraulic Fracturing Market is segmented on the basis of technology, application, and well type. Based on technology the market is segmented as Plug & Perf and Sliding Sleeve. Based on application, the market is segmented as Shale Gas, Tight Oil, and Tight Gas. Based on good type, the market is segmented as Horizontal Well and Vertical Well.

Below tree is interactive. You can click the nodes to get more information.

Based on Technology:

On the basis of technology, the plug and perf subsegment is expected to hold the largest share of the Hydraulic Fracturing Market during the forecast period. The plug and perf technology can be used in both horizontal and vertical wells. Moreover, it is frequently preferred technology utilized in unconventional wells. The growth of the plug and perf technology is attributed to ease of operation and competitive cost. Additionally, it delivers high performance in production and helps to reduce the manufacturing cost.

Based on Application:

On the basis of application, the market is segmented as Shale Gas, Tight Oil, and Tight Gas. The shale gas sub-segment is predicted to grow at the fastest rate during the forecast period. There are a large number of shales reserves available across the globe. According to the EIA, there are 48 shale gas basins in total in 32 countries, holding almost 70 shale gas creations, such large reserves are driving the Hydraulic Fracturing Market during the forecast period and will continue to grow in coming years.

North America is Predicted as the Largest Region in the Global Hydraulic Fracturing Market

North America held the largest share of the Hydraulic Fracturing Market during the year 2021. The growth of the market in North America is attributed to the increasing shale gas and oil exploration, and the production activities carried out. Additionally, the increasing demand for Hydraulic Fracturing technology with the rising demand for energy in North America is fueling the growth of the Hydraulic Fracturing Market during the forecast period.

The Asia Pacific is Anticipated to be the Fastest-Growing Region During the Forecast Period

The Asia Pacific is anticipated to be the second-largest market apart from being the region with fastest growth for Hydraulic Fracturing Market during the forecast period. The growth of the market in the Asia Pacific region is primarily attributed to rising investments in the countries such as China, and Australia in the development of shale reserves.

Competitive Landscape:

The key players in the Global Hydraulic Fracturing Market include- Halliburton (US), Schlumberger (US), Baker Hughes (US), NexTier Oilfield Solutions (US), Calfrac Well Service (Canada), Trican Well Service (Canada), STEP Energy Services (Canada), Nine Energy Services (US), FTS International (US), U.S. Well Services (US), Petro Welt Technologies AG (Austria), AFG Holdings Inc (US), Liberty Oilfield Services (US), Patterson-UTI Energy Inc. (US), RPC Inc. (US), ProPetro Holding Corp. (US), National Energy Services Reunited Corp. (US), Tacrom Services SRL (Romania), Anton Oilfield Services Group (China), TAM International Inc. (US), Legend Energy Services (US), ProFrac (US) and others.

Segmentation of the Global Hydraulic Fracturing Market:

Parameter Details
Segments Covered
  • Technology (Plug & Perf, Sliding Sleeve)
  • Application (Shale Gas, Tight Oil, Tight Gas)
  • Well Type (Horizontal Well, Vertical Well)
  • Region (North America, Europe, Asia Pacific, Latin America, Middle East & Africa)
Regions & Countries Covered
  • North America - (U.S., Canada, Mexico)
  • Europe - (U.K., France, Germany, Italy, Spain, Rest Of Europe)
  • Asia Pacific - (China, Japan, India, South Korea, South East Asia, Rest Of Asia Pacific)
  • Latin America - (Brazil, Argentina, Rest Of Latin America)
  • Middle East & Africa - (GCC Countries, South Africa, Rest Of Middle East & Africa)
Companies Covered
  • Halliburton (US)
  • Schlumberger (US)
  • Baker Hughes (US)
  • NexTier Oilfield Solutions (US)
  • Calfrac Well Service (Canada)
  • Trican Well Service (Canada)
  • STEP Energy Services (Canada)
  • Nine Energy Services (US)
  • FTS International (US)
  • U.S. Well Services (US)
  • Petro Welt Technologies AG (Austria)
  • AFG Holdings Inc (US)
  • Liberty Oilfield Services (US)
  • Patterson-UTI Energy Inc. (US)
  • RPC Inc. (US)
  • ProPetro Holding Corp. (US)
  • National Energy Services Reunited Corp. (US)
  • Tacrom Services SRL (Romania)
  • Anton Oilfield Services Group (China)
  • TAM International Inc. (US)
  • Legend Energy Services (US)
  • ProFrac (US)
Report Coverage Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, technology landscape, patent analysis, market attractiveness analysis by segments and North America, company market share analysis, and COVID-19 impact analysis

FAQ
Frequently Asked Question
  • The global Hydraulic Fracturing valued at USD 33.9 Billion in 2020 and is expected to reach USD 51.7 Billion in 2028 growing at a CAGR of 7.3%.

  • The prominent players in the market are Halliburton (US), Schlumberger (US), Baker Hughes (US), NexTier Oilfield Solutions (US), Calfrac Well Service (Canada), Trican Well Service (Canada), STEP Energy Services (Canada), Nine Energy Services (US), FTS International (US), U.S. Well Services (US), Petro Welt Technologies AG (Austria), AFG Holdings Inc (US), Liberty Oilfield Services (US), Patterson-UTI Energy Inc. (US), RPC Inc. (US), ProPetro Holding Corp. (US), National Energy Services Reunited Corp. (US), Tacrom Services SRL (Romania), Anton Oilfield Services Group (China), TAM International Inc. (US), Legend Energy Services (US), ProFrac (US).

  • The market is project to grow at a CAGR of 7.3% between 2021 and 2028.

  • The driving factors of the Hydraulic Fracturing include

    • Increasing shale exploration and production activities globally

  • North America was the leading regional segment of the Hydraulic Fracturing in 2020.