Hydraulic Fracturing Market by Well Type (Horizontal and Vertical), Technology (Plug & Perf, Sliding Sleeve), Application (Shale Gas, Tight Gas, Tight Oil, Others): Global Market Size Estimates and Forecast (2022-2030)

Code: BMIRE00026114 | Pages: 100 | Industry: Chemicals and Materials | Date: Sep 2022 | Type: Global

The market crossed US$ 34.92 billion mark in 2022 and is expected to hit US$ 61.99 billion by 2030, recording a CAGR of 7.4% during the forecast period.

Rising investment in producing and exploring renewable resources with the high depletion of natural deposits propels the hydraulic fracturing market

The hydraulic fracturing market has witnessed significant growth owing to rising investment in production and exploration of renewable resources with the high depletion of natural deposits. An increasing focus on industrialization coupled with a growing focus on infrastructure development and commercialization of hydraulic fracturing are other factors expected to boost utilization. However, strict environmental regulations are projected to hamper the hydraulic fracturing market growth over the projected period. Moreover, the primary trend followed in the hydraulic fracturing market is the development of non-water hydraulic fracturing fluids, which is expected to propel the market growth.

Within the report, the market is segmented into well type, technology, application, and geography. By well type, the market is further segmented into horizontal and vertical. On the basis of technology, the market is bifurcated into plug & perf, and sliding sleeve. By application, the market is categorized into shale gas, tight gas, tight oil, and others. Geographically, the market is subsegmented into North America, Europe, Asia Pacific, South & Central America, and Middle East & Africa.

The new well drilling and expanding existing well base drive the hydraulic fracturing market

Hydraulic fracturing is a process of oil and gas well development which mainly involves inserting water, sand, and chemicals under high pressure into a bedrock formation via the well. The process aims to create new fractures in the rock and increase the size, extent, and connectivity of existing fractures. It is a well-stimulation technique commonly used in low-permeability rocks such as tight sandstone, shale, and some coal beds to boost the flow of oil and gas to a well from petroleum-bearing rock formations.

The increasing shale oil and gas production drives the hydraulic fracturing market

The increasing shale oil and gas production drives the hydraulic fracturing market as horizontal drilling and fracking of oil are performed to extract the shale oil. Fracking of oil makes the shale oil extraction process easy. North America, Europe, and some parts of Asia Pacific are extensively focusing on the production of shale oil, and shale oil production is driving the demand for hydraulic fracturing.

Recent strategic developments in the hydraulic fracturing market

The hydraulic fracturing market has undergone several significant developments, and a few of these have been mentioned below:

  • In January 2022, a researcher at Texas A&M University came up with a novel 3D printing-based approach to accurately simulate the fracking oil and natural gas mining process.
  • In January 2021, Texas Commission took charge of the federal government’s responsibilities to regulate discharging produced water. This is expected to push for cleaner hydraulic fracturing methods.

Get more information on this report :

The hydraulic fracturing market is driven by several players by implementing strategic activities such as investments, new launches, mergers & acquisitions, and partnerships. Baker Hughes Inc, C&J Energy Services Inc., Halliburton, Tacrom Services S.r.L., and Schlumberger are among the prominent players operating in the market.

Target audience for the report:

  • Raw material providers
  • Hydraulic fracturing-related service providers
  • Hydraulic fracturing-related associations, organizations, forums, and alliances
  • Government bodies, such as regulating authorities and policy makers
  • Venture capitalists, private equity firms, and start-up companies
  • End users of hydraulic fracturing
  • Research institutes, organizations, and consulting companies

Scope of the report:

In this report, the market has been segmented on the basis of:

  • Well Type:
    • Horizontal
    • Vertical
  • Technology:
    • Plug & Perf
    • Sliding Sleeve
  • Application:
    • Shale Gas
    • Tight Gas
    • Tight Oil
    • Others
  • Region
    • North America
    • Europe
    • Asia Pacific (APAC)
    • South & Central America
    • Middle East & Africa
  • Companies profiled
    • Baker Hughes Inc.
    • C&J Energy Services Inc.
    • Halliburton
    • Tacrom Services S.r.L.
    • Schlumberger

 

Companies profiled

- Baker Hughes Inc.

- C&J Energy Services Inc.

- Halliburton

- Tacrom Services S.r.L.

- Schlumberger

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