The global Hydraulic Fracturing market has been growing at a healthy rate, and is expected to follow the same growth trail in the near future. The recent market research created by TMRR finds that the global Hydraulic Fracturing market is estimated to reach a value of ~US$ xx Bn/Mn in 2019, up from ~US$ xx Bn/Mn in 2018, at y-o-y of xx%. Further, the report suggests that ongoing innovations, increasing disposable income, and rising demand from consumers are set to fuel the Hydraulic Fracturing market at a CAGR of xx% over the forecast period 2019-2029.
Each player enclosed in the Hydraulic Fracturing market report is assessed according to its strengths, weaknesses, opportunities and threats. In addition, the report focuses on the nature of the vendors, including product expansion, product launches, acquisitions, partnerships, and market tactics.
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The world is going through a crisis in terms of depleting conventional reserves and hydraulic fracturing is a silver lining for those who are directly or indirectly dependent on these reserves. The demand for hydraulic fracturing is high as a shift in preference can be witnessed for unconventional reserves including shale, tight gas, tight oil, and coal bed methane, which is in turn fuelling the market. Also, rapid infrastructure development and industrialization are supplementing the demand for hydraulic fracturing.
Although hydraulic fracturing is being given a lot of importance in various countries, the market has had to face the music on account of several adverse effects such as noise and visual impact, seismic events, and land surface disturbances. In addition, expensive operational costs involved in development of shale gas is presenting a tough challenge to hydraulic fracturing companies.
Global Hydraulic Fracturing Market: Market Potential
The demand for energy is never going to subside. There is an urgent need for innovative ideas and new technologies that will reduce development and management costs and increase efficiency and effectiveness. The economic advantage achieved will further help drilling, exploration, expansion, and fracturing activities in new territories.
Saudi Arabian Oil Company, also called Saudi Aramco, has been relentlessly working on the stimulation and fracturing of wells and has been expanding and improving continuously in the areas of fracture design, use of novel materials, and field implementation. It recently introduced the use of local sand as proppants combined with the channel fracturing technique.
Seawater-based fracturing fluids is another commendable technology being developed and adopted in Saudi Arabia, which will help save valuable fresh water. The few field applications and laboratory experiments have shown constancy at high pressures and temperatures, compatibility with fracturing additives and formation fluids, and resilience against scale formation. This technology will go a long way in serving the environment tremendously through the use of seawater and will help make fresh water available and affordable in remote areas.
Global Hydraulic Fracturing Market: Regional Outlook
The U.S. market for hydraulic fracturing is prospering due to growing exploration and production of unconventional resources such as tight oil and shale gas, coupled with available resources such as advanced technology and skilled manpower.
Due to surplus availability of unconventional resources, China’s hydraulic fracturing market is expected to grow during the forecast period. Whereas in Europe, increasing investigation related to the development of available hydrocarbon reserves is likely to favor the business growth.
Escalating investments in oil and gas projects are giving impetus to the market in Saudi Arabia. Saudi Aramco is planning to invest US$334 billion to support infrastructure project, service facilities, and in the exploration and production phase of unconventional resources.
Global Hydraulic Fracturing Market: Competitive Analysis
The global hydraulic fracturing market is highly consolidated despite the presence of a large number of players operating across the value chain. Some of the prominent participants in this industry are FTS International, Cudd Energy Services, Patterson UTI Tacrom Services, Trican Well Services, Baker Hughes Incorporated, Trican Well Services Ltd, Weatherford International, Haliburton, Calfrac Well Services, Schlumberger Limited., ConocoPhilips, Franklin, United Oilfield Services, and Superior Energy Services.
In 2016, Oklahoma’s Seventy Seven Energy entered into a merger agreement with Patterson UTI to expand its fracturing business with 201 high specific rigs.
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The Hydraulic Fracturing market research answers important questions, including the following:
- What manufacturing techniques are being implemented by market players for developing Hydraulic Fracturing ?
- Why the demand for the Hydraulic Fracturing gradually decreasing in region?
- How many units of Hydraulic Fracturing are estimated to be sold in 2019?
- Why governments are imposing restrictions on the use of Hydraulic Fracturing ?
- Which country in region is expected to hold the largest share by 2029?
The Hydraulic Fracturing market research provides the below-mentioned data in a critical manner:
- Adoption trend and consumption behavior across various industries and consumers respectively.
- Factors (Positive and Negative) influencing the global Hydraulic Fracturing market.
- Product launches, mergers & acquisitions, and revenue of each Hydraulic Fracturing market player.
- Growth outlook of the global Hydraulic Fracturing market in terms of value and volume.
- Regulatory standards imposed on the application of Hydraulic Fracturing .
And many more …
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This post was originally published on Space Market Research