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In 2022, the hydraulic fracturing industry is predicted to be worth $11.7 billion. The hydraulic fracturing market is projected to rise from $12.90 billion in 2023 to $37.36 billion in 2030, a CAGR of 15.20%. Increases in both shale gas production and demand for energy fuels are the key forces propelling the market forward.
Rising energy prices are driving the expansion of the hydraulic fracturing industry. An important factor in the region's market is the fact that one country produces more shale gas than any other in the globe. The increased production of shale gas has reduced the price of natural gas, making it a more affordable and competitive energy source. Increases in the wellbore's contact area with the shale formation improve the efficiency of oil and gas extraction. The use of horizontal section has greatly boosted the amount of oil and gas extracted from a single well, drastically lowering the cost of production.
The global spread of COVID-19 has stifled development in a variety of sectors. Oil and gas consumption have dropped precipitously as a direct result of the COVID-19 epidemic and the measures taken by corporations and governments to stop its spread. As of May 28, 2020, 212 countries were affected by the pandemic, and national lockdowns had been issued by individual governments. The demand for oil and gas was affected because of the sharp drop in transportation and associated activities. The research by the International Energy Agency (IEA) states that oil prices crashed in March of 2020 as a result of geopolitical events increasing the supply of cheap oil to the global market and decreasing demand due to the start of the pandemic. Oil prices were very volatile as a result of these events' combined impact on the demand for oil, natural gas, and hydraulic fracturing services and goods.
The market is also affected by the fact that technological progress has made hydraulic fracturing more efficient and lucrative. Improvements in horizontal drilling, microseismic monitoring, and multi-stage fracturing have made oil and gas extraction from shale rock formations more efficient and less costly. It is possible that local water resources will be stressed due to the high demand for water during the fracking process. Many companies are developing and implementing strategies to recycle and utilise the water extracted during the fracking process. It reduces the need for fracking operations to acquire water from far away and the associated costs. Increasing demand for natural gas and oil is a great opportunity for companies to expand their operations and increase their market share. Development of unconventional oil and gas resources offers enormous economic potential, especially in developing economies. Another concern is that the fracking process could trigger seismic activity. The injection of fluids into the ground can produce pressure that can cause minor earthquakes, and there have been occurrences of larger earthquakes in areas where fracking is taking place. Research has shown that fracking is unlikely to trigger significant seismic activity.
For example, the hydraulic fracturing industry has grown substantially in recent years as a result of rising oil and gas production and the use of horizontal drilling techniques. However, regulatory scrutiny and opposition from environmental and community groups have increased as fracking has come under fire for its potential consequences on the environment and public health. In response to these challenges, the hydraulic fracturing industry has increased its focus on water management and conservation and developed new technologies to reduce adverse environmental impacts and increase profits. In order to more easily extract oil and gas deposits from bedrock formations, hydraulic fracturing is used as a well stimulation technique. Oil, gas, and other petroleum products are in high demand in developing countries, and this demand, together with ongoing attempts to lower the cost of oil and gas extraction, is expected to drive the industry forward. When it comes to offshore assets, the upstream service business relies heavily on oilfield service. The global market is dominated by the need for oil and gas industry services such drilling, completing, fracturing, and working over. This is because expanding onshore and offshore exploration and production requires more sophisticated technologies, tools, and equipment layout. The expansion of the sector is anticipated to be aided by exploration efforts directed at highly prospective conventional and unconventional hydrocarbon deposits in a variety of geological formations. The expansion of this market is supported by several factors, the most important of which are the fluctuations in oil prices, the falling prices of oilfield services, and the rising output of production. In addition, operators can save millions of dollars thanks to the variety of tailor-made packages offered by major upstream service providers taking part in oilfield services coverage. Market expansion throughout the forecast period is likely to be driven by factors such as increased demand for oil and gas from offshore assets and expanding production and development of oil and gas.
Report Coverage
Global Hydraulic Fracturing research report categorizes the market for global based on various segments and regions, forecasts revenue growth, and analyzes trends in each submarket. Global Hydraulic Fracturing report analyses the key growth drivers, opportunities, and challenges influencing the global market. Recent market developments and Hydraulic Fracturing competitive strategies such as expansion, product launch and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key Hydraulic Fracturing market players and analyses their core competencies in each global market sub-segments.
Key Points Covered in the Report
Competitive Environment:
The research provides an accurate study of the major organisations and companies operating in the global Hydraulic Fracturing market, along with a comparative evaluation based on their product portfolios, corporate summaries, geographic reach, business plans, Hydraulic Fracturing market shares in specific segments, and SWOT analyses. A detailed analysis of the firms' recent news and developments, such as product development, inventions, joint ventures, partnerships, mergers and acquisitions, strategic alliances, and other activities, is also included in the study. This makes it possible to assess the level of market competition as a whole.
List of Major Market Participants
Baker Hughes GE (US), Schlumberger (US), National Oilwell Varco, Inc. (US), Patterson-UTI Energy (US), FracChem LLC. (US), TechnipFMC (UK), U.S. Silica Holdings (US), Halliburton (US), Nuverra (US), FTS International (US), US Well Services (US), Franklin Well Service LLC (US), EOG Resources (US)
Primary Target Market
Market Segment:
This study forecasts global, regional, and country revenue from 2019 to 2030. INFINITIVE DATA EXPERT has segmented the global Hydraulic Fracturing market based on the below-mentioned segments:
Global Hydraulic Fracturing Market, By Type
Horizontal
Vertical
Global Hydraulic Fracturing market, By Application
Crude Oil
Shale Gas
Tight Oil
Others
Global Hydraulic Fracturing Market, By Technology
Plug and perforation
Sliding Sleeve
Others
Global Hydraulic Fracturing market, Regional Analysis
Rising energy prices are driving the expansion of the hydraulic fracturing industry. An important factor in the region's market is the fact that one country produces more shale gas than any other in the globe. The increased production of shale gas has reduced the price of natural gas, making it a more affordable and competitive energy source. Increases in the wellbore's contact area with the shale formation improve the efficiency of oil and gas extraction. The use of horizontal section has greatly boosted the amount of oil and gas extracted from a single well, drastically lowering the cost of production.
The global spread of COVID-19 has stifled development in a variety of sectors. Oil and gas consumption have dropped precipitously as a direct result of the COVID-19 epidemic and the measures taken by corporations and governments to stop its spread. As of May 28, 2020, 212 countries were affected by the pandemic, and national lockdowns had been issued by individual governments. The demand for oil and gas was affected because of the sharp drop in transportation and associated activities. The research by the International Energy Agency (IEA) states that oil prices crashed in March of 2020 as a result of geopolitical events increasing the supply of cheap oil to the global market and decreasing demand due to the start of the pandemic. Oil prices were very volatile as a result of these events' combined impact on the demand for oil, natural gas, and hydraulic fracturing services and goods.
The market is also affected by the fact that technological progress has made hydraulic fracturing more efficient and lucrative. Improvements in horizontal drilling, microseismic monitoring, and multi-stage fracturing have made oil and gas extraction from shale rock formations more efficient and less costly. It is possible that local water resources will be stressed due to the high demand for water during the fracking process. Many companies are developing and implementing strategies to recycle and utilise the water extracted during the fracking process. It reduces the need for fracking operations to acquire water from far away and the associated costs. Increasing demand for natural gas and oil is a great opportunity for companies to expand their operations and increase their market share. Development of unconventional oil and gas resources offers enormous economic potential, especially in developing economies. Another concern is that the fracking process could trigger seismic activity. The injection of fluids into the ground can produce pressure that can cause minor earthquakes, and there have been occurrences of larger earthquakes in areas where fracking is taking place. Research has shown that fracking is unlikely to trigger significant seismic activity.
For example, the hydraulic fracturing industry has grown substantially in recent years as a result of rising oil and gas production and the use of horizontal drilling techniques. However, regulatory scrutiny and opposition from environmental and community groups have increased as fracking has come under fire for its potential consequences on the environment and public health. In response to these challenges, the hydraulic fracturing industry has increased its focus on water management and conservation and developed new technologies to reduce adverse environmental impacts and increase profits. In order to more easily extract oil and gas deposits from bedrock formations, hydraulic fracturing is used as a well stimulation technique. Oil, gas, and other petroleum products are in high demand in developing countries, and this demand, together with ongoing attempts to lower the cost of oil and gas extraction, is expected to drive the industry forward. When it comes to offshore assets, the upstream service business relies heavily on oilfield service. The global market is dominated by the need for oil and gas industry services such drilling, completing, fracturing, and working over. This is because expanding onshore and offshore exploration and production requires more sophisticated technologies, tools, and equipment layout. The expansion of the sector is anticipated to be aided by exploration efforts directed at highly prospective conventional and unconventional hydrocarbon deposits in a variety of geological formations. The expansion of this market is supported by several factors, the most important of which are the fluctuations in oil prices, the falling prices of oilfield services, and the rising output of production. In addition, operators can save millions of dollars thanks to the variety of tailor-made packages offered by major upstream service providers taking part in oilfield services coverage. Market expansion throughout the forecast period is likely to be driven by factors such as increased demand for oil and gas from offshore assets and expanding production and development of oil and gas.
Report Coverage
Global Hydraulic Fracturing research report categorizes the market for global based on various segments and regions, forecasts revenue growth, and analyzes trends in each submarket. Global Hydraulic Fracturing report analyses the key growth drivers, opportunities, and challenges influencing the global market. Recent market developments and Hydraulic Fracturing competitive strategies such as expansion, product launch and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key Hydraulic Fracturing market players and analyses their core competencies in each global market sub-segments.
| REPORT ATTRIBUTES | DETAILS |
|---|---|
| Study Period | 2017-2030 |
| Base Year | 2022 |
| Forecast Period | 2022-2030 |
| Historical Period | 2017-2021 |
| Unit | Value (USD Billion) |
| Key Companies Profiled | Baker Hughes GE (US), Schlumberger (US), National Oilwell Varco, Inc. (US), Patterson-UTI Energy (US), FracChem LLC. (US), TechnipFMC (UK), U.S. Silica Holdings (US), Halliburton (US), Nuverra (US), FTS International (US), US Well Services (US), Franklin Well Service LLC (US), EOG Resources (US) |
| Segments Covered | • By Product |
| Customization Scope | Free report customization (equivalent to up to 3 analyst working days) with purchase. Addition or alteration to country, regional & segment scope |
Key Points Covered in the Report
- Market Revenue of Hydraulic Fracturing Market from 2021 to 2030.
- Market Forecast for Hydraulic Fracturing Market from 2021 to 2030.
- Regional Market Share and Revenue from 2021 to 2030.
- Country Market share within region from 2021 to 2030.
- Key Type and Application Revenue and forecast.
- Company Market Share Analysis, Hydraulic Fracturing competitive scenario, ranking, and detailed company
profiles. - Market driver, restraints, and detailed COVID-19 impact on Hydraulic Fracturing
Market
Competitive Environment:
The research provides an accurate study of the major organisations and companies operating in the global Hydraulic Fracturing market, along with a comparative evaluation based on their product portfolios, corporate summaries, geographic reach, business plans, Hydraulic Fracturing market shares in specific segments, and SWOT analyses. A detailed analysis of the firms' recent news and developments, such as product development, inventions, joint ventures, partnerships, mergers and acquisitions, strategic alliances, and other activities, is also included in the study. This makes it possible to assess the level of market competition as a whole.
List of Major Market Participants
Baker Hughes GE (US), Schlumberger (US), National Oilwell Varco, Inc. (US), Patterson-UTI Energy (US), FracChem LLC. (US), TechnipFMC (UK), U.S. Silica Holdings (US), Halliburton (US), Nuverra (US), FTS International (US), US Well Services (US), Franklin Well Service LLC (US), EOG Resources (US)
Primary Target Market
- Market Players of Hydraulic Fracturing
- Investors
- End-users
- Government Authorities
- Consulting And Research Firm
- Venture capitalists
- Third-party knowledge providers
- Value-Added Resellers (VARs)
Market Segment:
This study forecasts global, regional, and country revenue from 2019 to 2030. INFINITIVE DATA EXPERT has segmented the global Hydraulic Fracturing market based on the below-mentioned segments:
Global Hydraulic Fracturing Market, By Type
Horizontal
Vertical
Global Hydraulic Fracturing market, By Application
Crude Oil
Shale Gas
Tight Oil
Others
Global Hydraulic Fracturing Market, By Technology
Plug and perforation
Sliding Sleeve
Others
Global Hydraulic Fracturing market, Regional Analysis
- Europe: Germany, Uk, France, Italy, Spain, Russia, Rest of Europe
- The Asia Pacific: China,Japan,India,South Korea,Australia,Rest of Asia Pacific
- South America: Brazil, Argentina, Rest of South America
- Middle East & Africa: UAE, Saudi Arabia, Qatar, South Africa, Rest of Middle East & Africa
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