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Hydraulic Fracturing Market

Global Hydraulic Fracturing Market Share, Size, Trends, Analysis, Forecast, Growth: By Well Type: Horizontal, Vertical; By Technology: Plug And Perforation, Sliding Sleeve, Others; By Application: Crude Oil, Shale Gas, Tight Oil, Others; Regional Analysis; Market Dynamics; Competitive Landscape; Key Trends and Developments in the Market; 2024-2032

Global Hydraulic Fracturing Market Outlook

The global hydraulic fracturing market size has reached a value of more than USD 47.77 billion in 2023. The market is expected to grow at a CAGR of 6.90% between 2024 and 2032, reaching a value of USD 87.08 billion by 2032.

 

Global Hydraulic Fracturing Market Trends

Hydraulic fracturing is a drilling method to extract oil and gas from reserves deep in the Earth. It is done so by injecting water, sand, and/or chemicals at high-pressure levels into the well to break down the reserve. This process is utilised to create new fractures and can also increase the size and connectivity of existing fractures and access the trapped oil and gas.

 

hydraulic fracturing market

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Increasing Shale Production

Shale reservoirs are highly water-resistant, which makes it difficult to complete the extraction process. This makes it necessary to utilise hydraulic fracturing and horizontal drilling, further enhancing the market growth.

 

Growing Demand for Oil and Gas

The utilisation of oil and gas has been increasing substantially in the recent years. The demand for conventional fuel with growing urbanisation, globalisation, and increasing demands for energy has propelled the market development.

 

Foams Capable of Providing Waterless Fracking to Provide Growth Opportunities to the Market

Foams can provide many benefits in fracturing processes over water-based fracturing owing to their high viscosity and lower water and chemical consumption, which causes less environmental damage. They are also more efficient and provide easier fluid flowback.

 

Environmental Impacts of Fracking Chemicals to Challenge the Market Growth

Fracturing has been enormously beneficial for energy and many other industries, and activities to access new reservoirs are increasing to meet the growing demand. The environmental impact of the chemicals used during the process is a major setback for the market as concerns for the environment keep rising. Substances such as benzene, xylene, toluene, and formaldehyde, among others, can be toxic to the environment and can cause issues such as groundwater contamination.

 

Global Hydraulic Fracturing Market Analysis

Based on well type, the market can be segmented into horizontal and vertical. Based on the technology, the market can be bifurcated into plug and perforation, and sliding sleeve, among others. Based on application, the market segments include crude oil, shale gas, and tight oil, among others. The regional markets for the market can be divided into North America, Europe, the Asia Pacific, Latin America, the Middle East and Africa.

 

hydraulic fracturing market by segments

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The comprehensive EMR report provides an in-depth assessment of the market based on Porter's five forces model along with giving a SWOT analysis. The report gives a detailed analysis of the following key players in the global market, covering their competitive landscape and the latest developments like mergers, acquisitions, investments and expansion plans. 

 

  • Schlumberger Limited
  • Calfrac Well Services Ltd.
  • Baker Hughes Company
  • NexTier Oilfield Services, Inc.
  • Halliburton Energy Services, Inc.
  • Others

 

Well Types in the Hydraulic Fracturing Market

Based on well types, the market can be divided into horizontal and vertical. The horizontal well segment is expected to hold a major share of the market. The dominance of this type can be attributed to its advantages compared to vertical drilling. It reduces contact to rock and can be used to drill natural gas while limiting the spread of soil contamination.

In the vertical wells, the drilling is done vertically into the ground until it reaches the resource pool. After the well has been drilled, hydraulic fracturing oil and gas are allowed to come to the surface through the wellbore.

 

Applications of Hydraulic Fracturing

Based on application, the market segments include crude oil, shale gas, and tight oil, among others. Among these, the shale gas segment is expected to hold a significant share of the market, owing to a large number of shale gas reserves around the world. North America has been increasing their production of shale. The rising demand for the latest technologies in the oil and gas market can propel the market development further in the coming years.

 

Additionally, due to rising concern for depleting natural resources, energy businesses have been noticed to be shifting from traditional energy sources such as crude oil and natural gas to shale oil, which is a prominent factor for the hydraulic fracturing market development.

 

hydraulic fracturing market by region

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Competitive Landscape

Schlumberger Limited is an oilfield services and technology company and it is one of the world’s largest offshore drilling companies. It is one of the leading companies known for providing technology related to reservoir characterisation, drilling, production, and processing to the energy industry. It has four principal offices situated in Paris, Houston, London, and The Hague.

 

Calfrac Well Services Ltd. is an oilfield services company operating in multiple regions including Pennsylvania, Arkansas, Texas, Colorado, New Mexico, Western Canada, North Dakota, Western Siberia, and Argentina. It is one of the largest hydraulic fracturing companies in the world, their combined fleet boasts of 1.3 million horsepower.

The company is headquartered in Calgary, Canada, and it was founded in 1999.

 

Baker Hughes Company is an American International company, founded in 1987, and it is headquartered in the United States. It is one of the world’s largest industrial service and oil field service companies. It provides advanced products to the oil and gas industry for oil drilling, production, formation evaluation, production, and reservoir consulting. 

 

Other market players include NexTier Oilfield Services, Inc. and Halliburton Energy Services, Inc.

 

Key Highlights of the Report

REPORT FEATURES DETAILS
Base Year 2023
Historical Period 2018-2023
Forecast Period 2024-2032
Scope of the Report

Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:

  • Well Type
  • Technology
  • Application
  • Region
Breakup by Well Type
  • Horizontal
  • Vertical
Breakup by Technology
  • Plug And Perforation
  • Sliding Sleeve
  • Others
Breakup by Application
  • Crude Oil
  • Shale Gas
  • Tight Oil
  • Others
Breakup by Region
  • North America
    • United States of America 
    • Canada
  • Europe
    • United Kingdom
    • Germany
    • France
    • Italy
    • Others
  • Asia Pacific
    • China
    • Japan
    • India
    • ASEAN
    • Australia
    • Others
  • Latin America
    • Brazil
    • Argentina
    • Mexico
    • Others
  • Middle East and Africa
    • Saudi Arabia
    • United Arab Emirates
    • Nigeria
    • South Africa
    • Others
Market Dynamics
  • SWOT
  • Porter's Five Forces
  • Key Indicators for Demand
  • Key Indicators for Price
Competitive Landscape
  • Market Structure
  • Company Profiles
    • Company Overview
    • Product Portfolio
    • Demographic Reach and Achievements
    • Certifications
Companies Covered
  • Schlumberger Limited
  • Calfrac Well Services Ltd.
  • Baker Hughes Company
  • NexTier Oilfield Services, Inc.
  • Halliburton Energy Services, Inc.
  • Others

 

*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.

1    Preface
2    Report Coverage – Key Segmentation and Scope
3    Report Description

    3.1    Market Definition and Outlook
    3.2    Properties and Applications
    3.3    Market Analysis
    3.4    Key Players
4    Key Assumptions
5    Executive Summary

    5.1    Overview
    5.2    Key Drivers
    5.3    Key Developments
    5.4    Competitive Structure
    5.5    Key Industrial Trends
6    Market Snapshot
    6.1    Global
    6.2    Regional
7    Opportunities and Challenges in the Market
8    Global Hydraulic Fracturing Market Analysis

    8.1    Key Industry Highlights
    8.2    Global Hydraulic Fracturing Historical Market (2018-2023) 
    8.3    Global Hydraulic Fracturing Market Forecast (2024-2032)
    8.4    Global Hydraulic Fracturing Market by Well Type
        8.4.1    Horizontal
            8.4.1.1    Market Share
            8.4.1.2    Historical Trend (2018-2023)
            8.4.1.3    Forecast Trend (2024-2032)
        8.4.2    Vertical
            8.4.2.1    Market Share
            8.4.2.2    Historical Trend (2018-2023)
            8.4.2.3    Forecast Trend (2024-2032)
    8.5    Global Hydraulic Fracturing Market by Technology
        8.5.1    Plug And Perforation
            8.5.1.1    Market Share
            8.5.1.2    Historical Trend (2018-2023)
            8.5.1.3    Forecast Trend (2024-2032)
        8.5.2    Sliding Sleeve
            8.5.2.1    Market Share
            8.5.2.2    Historical Trend (2018-2023)
            8.5.2.3    Forecast Trend (2024-2032)
        8.5.3    Others
    8.6    Global Hydraulic Fracturing Market by Application
        8.6.1    Crude Oil
            8.6.1.1    Market Share
            8.6.1.2    Historical Trend (2018-2023)
            8.6.1.3    Forecast Trend (2024-2032)
        8.6.2    Shale Gas
            8.6.2.1    Market Share
            8.6.2.2    Historical Trend (2018-2023)
            8.6.2.3    Forecast Trend (2024-2032)
        8.6.3    Tight Oil
            8.6.3.1    Market Share
            8.6.3.2    Historical Trend (2018-2023)
            8.6.3.3    Forecast Trend (2024-2032)
        8.6.4    Others
    8.7    Global Hydraulic Fracturing Market by Region
        8.7.1    North America
            8.7.1.1    Market Share
            8.7.1.2    Historical Trend (2018-2023) 
            8.7.1.3    Forecast Trend (2024-2032)
        8.7.2    Europe
            8.7.2.1    Market Share
            8.7.2.2    Historical Trend (2018-2023) 
            8.7.2.3    Forecast Trend (2024-2032)
        8.7.3    Asia Pacific
            8.7.3.1    Market Share
            8.7.3.2    Historical Trend (2018-2023) 
            8.7.3.3    Forecast Trend (2024-2032)
        8.7.4    Latin America
            8.7.4.1    Market Share
            8.7.4.2    Historical Trend (2018-2023) 
            8.7.4.3    Forecast Trend (2024-2032)
        8.7.5    Middle East and Africa
            8.7.5.1    Market Share
            8.7.5.2    Historical Trend (2018-2023) 
            8.7.5.3    Forecast Trend (2024-2032)
9    North America Market Analysis
    9.1    United States of America 
        9.1.1    Market Share
        9.1.2    Historical Trend (2018-2023) 
        9.1.3    Forecast Trend (2024-2032)
    9.2    Canada
        9.2.1    Market Share
        9.2.2    Historical Trend (2018-2023) 
        9.2.3    Forecast Trend (2024-2032)
10    Europe Market Analysis
    10.1    United Kingdom
        10.1.1    Market Share
        10.1.2    Historical Trend (2018-2023) 
        10.1.3    Forecast Trend (2024-2032)
    10.2    Germany
        10.2.1    Market Share
        10.2.2    Historical Trend (2018-2023) 
        10.2.3    Forecast Trend (2024-2032)
    10.3    France
        10.3.1    Market Share
        10.3.2    Historical Trend (2018-2023) 
        10.3.3    Forecast Trend (2024-2032)
    10.4    Italy
        10.4.1    Market Share
        10.4.2    Historical Trend (2018-2023) 
        10.4.3    Forecast Trend (2024-2032)
    10.5    Others
11    Asia Pacific Market Analysis
    11.1    China
        11.1.1    Market Share
        11.1.2    Historical Trend (2018-2023) 
        11.1.3    Forecast Trend (2024-2032)
    11.2    Japan
        11.2.1    Market Share
        11.2.2    Historical Trend (2018-2023) 
        11.2.3    Forecast Trend (2024-2032)
    11.3    India
        11.3.1    Market Share
        11.3.2    Historical Trend (2018-2023) 
        11.3.3    Forecast Trend (2024-2032)
    11.4    ASEAN
        11.4.1    Market Share
        11.4.2    Historical Trend (2018-2023) 
        11.4.3    Forecast Trend (2024-2032)
    11.5    Australia
        11.5.1    Market Share
        11.5.2    Historical Trend (2018-2023) 
        11.5.3    Forecast Trend (2024-2032)
    11.6    Others
12    Latin America Market Analysis
    12.1    Brazil
        12.1.1    Market Share
        12.1.2    Historical Trend (2018-2023) 
        12.1.3    Forecast Trend (2024-2032)
    12.2    Argentina
        12.2.1    Market Share
        12.2.2    Historical Trend (2018-2023) 
        12.2.3    Forecast Trend (2024-2032)
    12.3    Mexico
        12.3.1    Market Share
        12.3.2    Historical Trend (2018-2023) 
        12.3.3    Forecast Trend (2024-2032)
    12.4    Others
13    Middle East and Africa Market Analysis
    13.1    Saudi Arabia
        13.1.1    Market Share
        13.1.2    Historical Trend (2018-2023) 
        13.1.3    Forecast Trend (2024-2032)
    13.2    United Arab Emirates
        13.2.1    Market Share
        13.2.2    Historical Trend (2018-2023) 
        13.2.3    Forecast Trend (2024-2032)
    13.3    Nigeria
        13.3.1    Market Share
        13.3.2    Historical Trend (2018-2023) 
        13.3.3    Forecast Trend (2024-2032)
    13.4    South Africa
        13.4.1    Market Share
        13.4.2    Historical Trend (2018-2023) 
        13.4.3    Forecast Trend (2024-2032)
    13.5    Others
14    Market Dynamics
    14.1    SWOT Analysis
        14.1.1    Strengths
        14.1.2    Weaknesses
        14.1.3    Opportunities
        14.1.4    Threats
    14.2    Porter’s Five Forces Analysis
        14.2.1    Supplier’s Power
        14.2.2    Buyer’s Power
        14.2.3    Threat of New Entrants
        14.2.4    Degree of Rivalry
        14.2.5    Threat of Substitutes
    14.3    Key Indicators for Demand
    14.4    Key Indicators for Price
15    Value Chain Analysis
16    Competitive Landscape

    16.1    Market Structure
    16.2    Company Profiles
        16.2.1    Schlumberger Limited
            16.2.1.1    Company Overview
            16.2.1.2    Product Portfolio
            16.2.1.3    Demographic Reach and Achievements
            16.2.1.4    Certifications
        16.2.2    Calfrac Well Services Ltd.
            16.2.2.1    Company Overview
            16.2.2.2    Product Portfolio
            16.2.2.3    Demographic Reach and Achievements
            16.2.2.4    Certifications
        16.2.3    Baker Hughes Company
            16.2.3.1    Company Overview
            16.2.3.2    Product Portfolio
            16.2.3.3    Demographic Reach and Achievements
            16.2.3.4    Certifications
        16.2.4    NexTier Oilfield Services, Inc.
            16.2.4.1    Company Overview
            16.2.4.2    Product Portfolio
            16.2.4.3    Demographic Reach and Achievements
            16.2.4.4    Certifications
        16.2.5    Halliburton Energy Services, Inc.
            16.2.5.1    Company Overview
            16.2.5.2    Product Portfolio
            16.2.5.3    Demographic Reach and Achievements
            16.2.5.4    Certifications
        16.2.6    Others
17    Key Trends and Developments in the Market

 

List of Key Figures and Tables

1.    Global Hydraulic Fracturing Market: Key Industry Highlights, 2017 and 2021
2.    Global Hydraulic Fracturing Historical Market: Breakup by Well Type (USD Million), 2018-2023
3.    Global Hydraulic Fracturing Market Forecast: Breakup by Well Type (USD Million), 2024-2032
4.    Global Hydraulic Fracturing Historical Market: Breakup by Technology (USD Million), 2018-2023
5.    Global Hydraulic Fracturing Market Forecast: Breakup by Technology (USD Million), 2024-2032
6.    Global Hydraulic Fracturing Historical Market: Breakup by Application (USD Million), 2018-2023
7.    Global Hydraulic Fracturing Market Forecast: Breakup by Application (USD Million), 2024-2032
8.    Global Hydraulic Fracturing Historical Market: Breakup by Region (USD Million), 2018-2023
9.    Global Hydraulic Fracturing Market Forecast: Breakup by Region (USD Million), 2024-2032
10.    North America Hydraulic Fracturing Historical Market: Breakup by Country (USD Million), 2018-2023
11.    North America Hydraulic Fracturing Market Forecast: Breakup by Country (USD Million), 2024-2032
12.    Europe Hydraulic Fracturing Historical Market: Breakup by Country (USD Million), 2018-2023
13.    Europe Hydraulic Fracturing Market Forecast: Breakup by Country (USD Million), 2024-2032
14.    Asia Pacific Hydraulic Fracturing Historical Market: Breakup by Country (USD Million), 2018-2023
15.    Asia Pacific Hydraulic Fracturing Market Forecast: Breakup by Country (USD Million), 2024-2032
16.    Latin America Hydraulic Fracturing Historical Market: Breakup by Country (USD Million), 2018-2023
17.    Latin America Hydraulic Fracturing Market Forecast: Breakup by Country (USD Million), 2024-2032
18.    Middle East and Africa Hydraulic Fracturing Historical Market: Breakup by Country (USD Million), 2018-2023
19.    Middle East and Africa Hydraulic Fracturing Market Forecast: Breakup by Country (USD Million), 2024-2032
20.    Global Hydraulic Fracturing Market Structure

Key Questions Answered in the Report

In 2023, the global market for hydraulic fracturing reached a size of USD 47.77 billion.

The market is expected to grow at a CAGR of 6.90% during the period 2024-2032.

The market is expected to reach a value of USD 87.08 billion.

The market is driven by the increasing focus on shale exploration and production and the rising demand for advanced technology and equipment for fracturing activity.

The increasing demand for conventional fuel in replacement of traditional oil and the implementation of foam-based fracturing are key trends in the market.

The regional markets for the global market include North America, Europe, the Asia Pacific, Latin America, the Middle East and Africa.

The well types in the market include horizontal and vertical.

The applications available in the market include crude oil, shale gas, and tight oil, among others.

The technologies for the hydraulic fracturing market include plug and perforation, and sliding sleeve, among others.

The key players in the market include Schlumberger Limited, Calfrac Well Services Ltd., Baker Hughes Company, NexTier Oilfield Services, Inc., and Halliburton Energy Services, Inc., among others.

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