Hydraulic Fracturing Market Forecasts to 2028 – Global Analysis By Well Type (Horizontal Well, Vertical Well), Fluid Type (Foam-Based Fluid, Gelled Oil-Based Fluid) and By Geography
According to Stratistics MRC, the Global Hydraulic Fracturing Market is accounted for $38.84 billion in 2020 and is expected to reach $80.85 billion by 2028 growing at a CAGR of 9.6% during the forecast period. Rising energy demand from numerous end-users such as automotive & transportation, together with advances in unusual hydrocarbon reserves and growing exploration and production activities for tight & shale gas is driving the market growth. However, a high cost related to hydraulic fracturing is hampering the growth of the market.
Hydraulic fracturing is a method in which rocks are cracked by applying pressure through the use of high pressured water. Hydraulic fracturing is mainly used to get shale gas, tight gas, tight oil, and coal by cracking rocks. The cracking process includes the high-pressure injection of fracking fluid a mixture of water, sand, and additives into a wellbore to make cracks in deep-rock formations and to upsurge the number of hydrocarbons that can be removed from the site. With improvements in technology, lately, the drilling companies are executing hydraulic fracturing along with horizontal drilling to permit the drilling of numerous wells from the same spot. In the recent scenario of oil and gas production, the hydraulic fracturing method is used worldwide to improve the production of oil & gas from the reservoirs.
Based on the technology, the plug & perf segment is going to have lucrative growth during the forecast period, owing to the simplicity of the process and economical cost as it is usually used technology in this field. It provides a greater performance of well for production and brings down the manufacture cost. The steady growth of the plug & perf technology in the worldwide market is one of the factors propelling the segment growth.
By geography, North America is going to have high growth during the forecast period. The dominance can be attributed to increasing demand for advanced technologies in the oil & gas industry, growing production of shale gas, increasing absence of easy oil, rising demand for extended lateral services, and growing upstream expenditure to endure oil production targets is predicted to drive the oil & gas industry drilling activities, hence spreading the demand for hydraulic fracturing in this province.
Some of the key players profiled in the Hydraulic Fracturing Market include Baker Hughes, a GE Company, Basic Energy Services, BJ Services, Calfrac Well Services, Cudd Energy Services, FTS International, Halliburton, Liberty Oilfield Services, ProPetro Holding Corp, RockPile Energy Services, Schlumberger, Superior Energy Services , Trican Well Services Ltd, Weatherford.
Estimated Market Size in 2020:
USD 38.84 billion
Compound Annual Growth Rate (CAGR) from 2020 to 2028:
Predicted 2028 Value:
USD 80.85 billion
Tables, Graphs& Figures
Well Type, Fluid Type, Fleet Type, Material, Technology, Application, End User and Region
Core Drivers and Opportunities:
Restraining Factors&Market Threats:
Well Types Covered:
• Horizontal Well
• Vertical Well
Fluid Types Covered:
• Foam-Based Fluid
• Gelled Oil-Based Fluid
• Slick Water-Based Fluid
• Sliding Sleeve
• Completing Coalbed Methane (CBM)
• Crude Oil
• Shale Gas
• Tight Gas
• Tight Oil
End Users Covered:
• Electric Power
• North America
o Rest of Europe
• Asia Pacific
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o South Africa
o Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2018, 2019, 2020, 2024 and 2027
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
o Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances
Key Questions Answered In The Report
The Global Hydraulic Fracturing Market is majorly driven by the increased shale oil & gas revolution and growing concern for reduction of natural resource
The horizontal well segment is growing at a highest CAGR, as it has been used extensively for the last couple of decades owing to its beneficial features and it not only decrease the overall production cost but also helps to mitigate the rising carbon emissions.
Europe dominated with a significant market share due to the factors such as the rise in demand for oil and gas and the countries of Europe trying to reduce their reliance on imports.
Asia Pacific market is growing at a highest CAGR owing to the growing number of well and shale activity across the region.
Key players in Hydraulic Fracturing Market include Baker Hughes, a GE Company, Basic Energy Services, BJ Services, Calfrac Well Services, Cudd Energy Services, FTS International, Halliburton, Liberty Oilfield Services, ProPetro Holding Corp, RockPile Energy Services, Schlumberger, Superior Energy Services, Trican Well Services Ltd, Weatherford.
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