This report titled “Hydraulic Fracturing Market - Growth, Future Prospects, and Competitive Analysis, 2016 – 2023” offers strategic insights into the trends in hydraulic fracturing market along with the market size and forecast for the duration 2013 to 2023. The said research study incorporates in-depth analysis of multiple market segments based on technology, materials, application and geographical distribution.
The global hydraulic fracturing market is becoming increasingly competitive with growing number of mergers and collaborations between market players to reach full capabilities and gain international footprint. In addition, several players are also focused on developing their niche in the market. Rapid growth of this market has also resulted in creating further skilled job opportunities in major hubs spread across North America, Europe, Latin America and Asia Pacific.
Based on technology, the global hydraulic fracturing market is categorized into plug & perf and sliding sleeves technology. On the basis of material, the global hydraulic fracturing market is segmented into proppants and other materials. Proppants segment is further sub segment into sand, ceramics and resin coated sand. By application, the global hydraulic fracturing market is segmented into conventional and non-conventional resources. In addition, oil producing companies, manufacturing industries and academic organizations form the major client types for hydraulic fracturing market. Market size and forecast for all the considered segmentation is presented in this report for the period 2013-2023 (US$ Bn) along with their respective CAGRs for the forecast period 2016-2023 (Value %).
Based on the application, the global hydraulic fracturing market is segmented as follows:
Global hydraulic fracturing market is categories on the basis of application. By application, the non-conventional segments is projected to be the most dominant segment are expected to witness high growth over the forecast period. Growing exploration of shale gas, tight oil and coal bed methane is anticipated to drive growth of the segment during the forecast period. High proven reserves in U.S., Canada, China, Argentina and Algeria is projected to fuel the growth of the segment during the forecast period (2016-2023). However, increasing adoption of hydraulic fracturing for the exploration and production of conventional wells is expected to drive the growth of the conventional segment during the later stages of the forecast period (2016-2023).
Based on the technology, the global hydraulic fracturing market is segmented as follows:
Global hydraulic fracturing market is categories on the basis of technology. Among technologies, the plug and perf segment is projected to be the most dominant segment owing to wide adoption of technology in hydraulic fracturing and wellbore completions. The plug and perf segment is projected to grow at significant rate over the forecast period. On the other hand, sliding sleeves technology is a new technology designed to speed up the fracking process. This technology is an open hole completion technique which allows multiple fractures in a single pumping session. Thus, making the hydraulic fracturing process economical and efficient. The technology is projected to gain momentum with growth in exploration and production of shale gas in U.S. and other countries of the world. The segment is anticipated to gain significant revenue share by 2023 and projected to witness high growth during the forecast period (2016-2023).
At present, North America is the most dominant regional market for hydraulic fracturing. Increasing shale gas production on commercial scale, high shale gas reserves coupled with favorable regulatory policies of hydrocarbon exploration in U.S. and Canada is anticipated to drive the growth of hydraulic fracturing in the region. Further, increasing adoption of hydraulic fracturing techniques along with availability of high shale gas reserves in China and Australia is projected to fuel the demand for hydraulic fracturing in Asia Pacific. Asia Pacific is anticipated gain significant market share in global hydraulic fracturing market by 2023. Increasing adoption of hydraulic fracturing in exploration and production of conventional oil wells in Middle East and other regions of the globe is expected to fuel the demand of hydraulic fracturing over the forecast period (2016-2023).
Based on the materials, the global hydraulic fracturing market is segmented as follows:
Global hydraulic fracturing market is categories on the basis of materials. Among materials, the proppants segment is projected to be the most dominant segment owing to growing popularity of ceramic proppants in hydraulic fracturing and other propellants such as sand and resin coated sand is expected to augment the growth of the segment over the forecast period. Further, growing exploration of tight oil and shale gas requires the process such as hydraulic fracturing to make the rock porous in order to extract oil & gas from the shale rock. Thus, demand for hydraulic fracking is projected to grow with growth in exploration and production of shale gas. Other materials such as nitrogen gas, pressurized foams, guar mix and other fracking fluids are anticipated to drive the demand for hydraulic fracturing during the forecast period (2016-2023).
Historical & Forecast Period
This study report represents analysis of each segment from 2022 to 2032 considering 2023 as the base year. Compounded Annual Growth Rate (CAGR) for each of the respective segments estimated for the forecast period of 2024 to 2032.
The current report comprises of quantitative market estimations for each micro market for every geographical region and qualitative market analysis such as micro and macro environment analysis, market trends, competitive intelligence, segment analysis, porters five force model, top winning strategies, top investment markets, emerging trends and technological analysis, case studies, strategic conclusions and recommendations and other key market insights.
Research Methodology
The complete research study was conducted in three phases, namely: secondary research, primary research, and expert panel review. key data point that enables the estimation of Hydraulic Fracturing market are as follows:
Market forecast was performed through proprietary software that analyzes various qualitative and quantitative factors. Growth rate and CAGR were estimated through intensive secondary and primary research. Data triangulation across various data points provides accuracy across various analyzed market segments in the report. Application of both top down and bottom-up approach for validation of market estimation assures logical, methodical and mathematical consistency of the quantitative data.
| ATTRIBUTE | DETAILS |
|---|---|
| Research Period | 2022-2032 |
| Base Year | 2023 |
| Forecast Period | 2024-2032 |
| Historical Year | 2022 |
| Unit | USD Million |
| Segmentation | |
Technology
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Materials
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Application
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Region Segment (2022-2032; US$ Million)
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Key questions answered in this report
