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.
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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, 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.
Key Market Driver – Increase in demand for oil and natural gas
Key Market Restraint – High cost of equipment
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
For more information in the analysis of this report, visit https://www.fortunebusinessinsights.com/industry-reports/hydraulic-fracturing-market-100419
Key Industry Developments
- In April 2019, The trump administration had proposed the Trump plan, first proposed in 2018, to open more than a million acres of public and private land in California to fracking.
- In April 2019, Houston oilfield service company, Baker Hughes, announced that it will be using the Permian Basin in West Texas to debut a fleet of new turbines that use excess natural gas from a drilling site to power hydraulic fracturing equipment which will be reducing flaring, carbon dioxide emissions, people and equipment in remote locations.
- In April 2019, Halliburton company has introduced the Elect frac sleeve, which is a monobore sleeve solution that enables unlimited stage count in multistage fracturing operations. The Elect frac sleeve is an evolutionary step in completion sleeves, supporting greater flexibility for highly optimized reservoir access with pinpoint well stimulation options.
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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Fortune Business Insights provides a detailed evaluation of the global market by analyzing the factors driving the market. Besides this, it also discusses some of the economic trends prevailing in the energy and power industry. These trends are analyzed in the report to see an overall impact on the global market.
Increasing use of smart grids and smart metering are likely to help for the better management of power services. Better infrastructural facilities are also expected to encourage growth in the market.
The increased spending on oil and gas across the world is another factor likely to drive the Market. Rising investments in energy efficiency projects backed by governments may also stimulate growth in the market. The penetration of renewable sources is increasing, fueling demand for energy and which is expected to drive the Market.
The information used is derived from various primary and secondary sources. It also throws light on some of the major players operating in the market. The report studies profiles of these leading companies and their share in the market. It provides insights on some of the strategies adopted by these companies to survive competition and maintain their stronghold.
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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. 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. 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. Market Analysis, Insights and Forecast – By Application
An Overview of the Impact of COVID-19 on this Market:
The emergence of COVID-19 has brought the world to a standstill. We understand that this health crisis has brought an unprecedented impact on businesses across industries. However, this too shall pass. Rising support from governments and several companies can help in the fight against this highly contagious disease. There are some industries that are struggling and some are thriving. Overall, almost every sector is anticipated to be impacted by the pandemic.
We are taking continuous efforts to help your business sustain and grow during COVID-19 pandemics. Based on our experience and expertise, we will offer you an impact analysis of coronavirus outbreak across industries to help you prepare for the future.
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