Hydraulic Fracturing & Services Market Global Growth, Trends and Forecast (2022 - 2027) By Types, By Application, By Regions and By Key Players: Halliburton, CNPC, GE(Baker Hughes)

The global market for Hydraulic Fracturing & Services is expected to register a CAGR of more than 12.36% during the forecast period 2022-2027.

Hydraulic Fracturing & Services Market Overview

Hydraulic Fracturing & Services is a well-stimulation technique that fractures bedrock formations with a pressurized liquid to facilitate the extraction of oil and gas reserves. The growing demand for oil, gas, and other petroleum products from developing economies, combined with increased efforts to reduce the cost of oil and gas production, will drive market growth. Oilfield services are important in the upstream service industry, particularly for offshore assets.

The global market is dominated by the demand for drilling, completion, fracturing, and workover services. This factor is due to the growing demand for advanced technology, tools, and equipment layout in order to increase exploration and production activities in both onshore and offshore areas. Exploration for high-potential conventional and unconventional hydrocarbon reserves in various formations is expected to boost industry growth.

Increasing efforts by upstream companies to enhance the production from unconventional resources is driving the hydraulic fracturing market. The fracturing fluid comprises 99.5% water, which is used from nearby rivers and lakes or industrial wastewater treatment plants. The availability of water plays a vital role in the performance of fracturing operations. With their excellent properties, such as high viscosity and low liquid content, foams find applications in many processes of the petroleum industry. They utilize less water than traditional fracturing and could help companies in addressing public concerns over the environmental effects of fracturing.

As a process, fracturing takes up a large percentage of the total water required in well drilling—roughly 89%. This presents a good opportunity for players to include waterless fracking in their product portfolio to capture maximum market share. The advancements in hydraulic fracturing technology have fueled the domestic energy supply. However, the substances used in the fracking process, e.g., formaldehyde, benzene, toluene, ethylbenzene, and xylene, are toxic in nature.

Who are the Major Players in Hydraulic Fracturing & Services Market?

The Hydraulic Fracturing & Services Market is growing at a very fast pace and has seen the focus of many local and regional vendors offering precise application products for multiple end users. The three dependencies for the status of major companies in the market are: company profile, profitable gross margin, the prices they charge. These are the main players in this market Halliburton, CNPC, GE(Baker Hughes), Schlumberger, Superior Well Services, FTS International, Trican Well Service, Cudd Energy Services, Calfrac Well Services, Canyon Services Group, Weatherford International, United Oilfield Services and others.

Recent Developments

In July 2021, Schlumberger and Vedanta Ltd’s subsidiary Cairn Oil & Gas have collaborated to start a project on the production of tight oil at Aishwariya Barmer Hill (ABH) in Rajasthan, India. The Aishwariya Barmer Hill is India’s largest lateral fracking program.

What are the major Applications, Types and Regions for Hydraulic Fracturing & Services Market?

Hydraulic Fracturing & Services Market is segmented based on the type, applications, companies and regions.

By Type, it is segmented into

•     Water Demand


•     Proppant Demand


•     Chemical Additives


•     Others

By Applications it is segmented into

•     Well Simulation


•     Well Construction


•     Waste Disposal


•     Other

Hydraulic Fracturing & Services Market Regional Analysis

All these factors greatly affect the Hydraulic Fracturing & Services market growth. It further aims at providing complete overview on detailed assessment of significant features of different industries including sales volume, market revenue, and demand size, sales growth, pricing analysis and changing market growth factors in regions such as Follows,

• North America
  
  
  
  
  • US
  
  
  • Canada
  
  
  
  


• Europe
  
  
  
  • Germany
  
  
  • France
  
  
  • UK
  
  
  • Italy
  
  
  • Spain
  
  
  • Rest of Europe
  
  
  
  


• Asia-Pacific
  
  
  
  • China
  
  
  • Japan
  
  
  • India
  
  
  • Australia
  
  
  • South Korea
  
  
  • Rest of Asia-Pacific
  
  
  
  


• Rest of the World
  
  
  
  • Middle East & Africa
  
  
  • Latin America
  
  
  
  

The Hydraulic Fracturing & Services Market describes the factors driving the global growth opportunities in upcoming years and highlights market channels. In addition, the report analyzes market size and share, trends, by geographic region, end-use type and segment. It focuses extensively on revealing a detailed regional analysis. The Global Hydraulic Fracturing & Services  Market report also conducted a PESTEL analysis of the industry to study the main influencing factors and entry barriers of the industry.

What is our Hydraulic Fracturing & Services Market report scope?

Scope of the Report covers Hydraulic Fracturing & Services Market with detailed analysis of the overall scenario for the market. It also highlights the business participants environment in the global marketplace. This report also provides an overview of leading companies covering the latest successful marketing strategies, market contributions, current and historical background and latest market happenings to help key organizations to grow and generate larger profits. Business players will greatly benefit from this Hydraulic Fracturing & Services Market analysis report as it has vital details to provide about regional markets, expected opportunities for the prediction time period 2022-2027. Growth between segments is used to understand the different growth factors that are expected to dominate the market as a whole and to develop strategies to differentiate between key applications and target markets. It further reveals how worldwide market is working through efficient information graphics.

Key Takeaways from this Hydraulic Fracturing & Services Report

• Evaluate Hydraulic Fracturing & Services market potential through analyzing growth rates (CAGR %), Volume (Units) and Value ($M) data given at country level - for product types, end use applications and by different industry verticals.


• Understand the different dynamics influencing the market - growth driving factors, specific challenges and hidden opportunities.


• Get in-depth insights on your competitor performance – revenue, shares, business strategies, financial benchmarking, product benchmarking, SWOT analysis and more.


• Analyze the sales and distribution channels across geographies to enhance top-line revenues.


• Understand the demanding supply chain with a deep dive on the value augmentation at each, in order to optimize value and bring efficiencies in your processes.


• Get a quick outlook on the Hydraulic Fracturing & Services market entropy - M&A's, deals, partnerships, product launches of all key players for the past 4 years.


• Evaluate the import-export statistics, supply-demand and competitive landscape for more than top 20 countries globally for the market.

All our reports are custom made to your company needs to a certain extent, we do provide 5 free consulting hours along with purchase of each report, and this will allow you to request any additional data to customize the report as your needs.

Frequently Asked Question-

What is the estimated value of the Hydraulic Fracturing Market?

The Hydraulic Fracturing Market was estimated to be valued at $48.3 billion in 2020.

How much is the hydraulic fracturing market worth?

Fortune Business Insights references that the global market size was USD 11.74 billion in 2020 and is projected to reach USD 28.93 billion by 2027.

What are the factors driving the market?

Cumulative production and exploration of unconventional gas reserves and the growing energy transition toward accepting gas as a fuel are the key factors accountable for the growth of the market.

Which are the dominant player engaged in the market?

Halliburton, Baker Hughes, Schlumberger, Weatherford, FTS International, BJ Services, and Cudd Energy Services are the key players operating in the global market.

At what CAGR is the market projected to grow in the forecast period

The market is projected to display CAGR of 12.36% during the forecast period