Global Hydraulic Fracturing market
The global Hydraulic Fracturing market registered a value of ~US$ xx Mn/Bn in 2019. With a moderate CAGR of xx% throughout the historic period 2014-2019, the Hydraulic Fracturing market is expected to grow at healthy CAGR of xx% over the foreseeable timeframe 2019-2029. In this research study, 2018 is considered as the base year.
The Hydraulic Fracturing market study presents a compilation of market share, demand analysis, and future outlook associated with each segment as well as sub-segment. The key segments include, product type, end use, region, and relevant competitors. Important product-wise segments covered contain product 1, product 2, product 3, and product 4. Key end uses enclosed are end use 1, end use 2, end use 3, and end use 4.
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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 covers an exhaustive analysis of the following data:
- Synopsis of recent R&D activities implemented by each Hydraulic Fracturing market player.
- Segmentation of the Hydraulic Fracturing market to highlight the growth prospects and trends impacting these segments.
- Factors (Positive and Negative) affecting the growth of the global Hydraulic Fracturing market.
- Comprehensive analysis of the impacts of the growth of relevant industries.
- Exhaustive understanding of the strengths, weaknesses, opportunities and threats of various Hydraulic Fracturing market players.
The Hydraulic Fracturing market research answers the following questions:
- Which country in region is expected to hold the largest share by 2019?
- How are the players overcoming the challenges associated with the Hydraulic Fracturing market?
- What modifications are the Hydraulic Fracturing market players performing to receive regulatory approvals in specific regions?
- What are the underlying micro- macroeconomic factors impacting the global Hydraulic Fracturing market?
- What is future prospect of Hydraulic Fracturing in end use segment?
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A thorough primary and secondary research has been performed to extract the nuts and bolts of the Hydraulic Fracturing market. Various service providers, implementation vendors and research in different departments of all gamut of companies were approached to provide a clear-cut picture of the market structure. Further, DROT analysis and Porter’s Five Forces analysis are used to offer the factors (positive and negative) impacting the growth of the Hydraulic Fracturing market.
This post was originally published on Space Market Research