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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; 2023-2028
Global Hydraulic Fracturing Market Outlook
The global hydraulic fracturing market size has reached a value of more than USD 41.8 billion in 2021. The market is expected to grow at a CAGR of 6.90% between 2023 and 2028, reaching a value of USD 62.38 billion by 2027.
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.
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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.
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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.
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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 | 2022 |
| Historical Period | 2018-2022 |
| Forecast Period | 2023-2028 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
|
| Breakup by Well Type |
|
| Breakup by Technology |
|
| Breakup by Application |
|
| Breakup by Region |
|
| Market Dynamics |
|
| Competitive Landscape |
|
| Companies Covered |
|
*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 (2018-2022)
8.3 Global Hydraulic Fracturing Market Forecast (2023-2028)
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 (2018-2022)
8.4.1.3 Forecast Trend (2023-2028)
8.4.2 Vertical
8.4.2.1 Market Share
8.4.2.2 Historical Trend (2018-2022)
8.4.2.3 Forecast Trend (2023-2028)
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 (2018-2022)
8.5.1.3 Forecast Trend (2023-2028)
8.5.2 Sliding Sleeve
8.5.2.1 Market Share
8.5.2.2 Historical Trend (2018-2022)
8.5.2.3 Forecast Trend (2023-2028)
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 (2018-2022)
8.6.1.3 Forecast Trend (2023-2028)
8.6.2 Shale Gas
8.6.2.1 Market Share
8.6.2.2 Historical Trend (2018-2022)
8.6.2.3 Forecast Trend (2023-2028)
8.6.3 Tight Oil
8.6.3.1 Market Share
8.6.3.2 Historical Trend (2018-2022)
8.6.3.3 Forecast Trend (2023-2028)
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 (2018-2022)
8.7.1.3 Forecast Trend (2023-2028)
8.7.2 Europe
8.7.2.1 Market Share
8.7.2.2 Historical Trend (2018-2022)
8.7.2.3 Forecast Trend (2023-2028)
8.7.3 Asia Pacific
8.7.3.1 Market Share
8.7.3.2 Historical Trend (2018-2022)
8.7.3.3 Forecast Trend (2023-2028)
8.7.4 Latin America
8.7.4.1 Market Share
8.7.4.2 Historical Trend (2018-2022)
8.7.4.3 Forecast Trend (2023-2028)
8.7.5 Middle East and Africa
8.7.5.1 Market Share
8.7.5.2 Historical Trend (2018-2022)
8.7.5.3 Forecast Trend (2023-2028)
9 North America Market Analysis
9.1 United States of America
9.1.1 Market Share
9.1.2 Historical Trend (2018-2022)
9.1.3 Forecast Trend (2023-2028)
9.2 Canada
9.2.1 Market Share
9.2.2 Historical Trend (2018-2022)
9.2.3 Forecast Trend (2023-2028)
10 Europe Market Analysis
10.1 United Kingdom
10.1.1 Market Share
10.1.2 Historical Trend (2018-2022)
10.1.3 Forecast Trend (2023-2028)
10.2 Germany
10.2.1 Market Share
10.2.2 Historical Trend (2018-2022)
10.2.3 Forecast Trend (2023-2028)
10.3 France
10.3.1 Market Share
10.3.2 Historical Trend (2018-2022)
10.3.3 Forecast Trend (2023-2028)
10.4 Italy
10.4.1 Market Share
10.4.2 Historical Trend (2018-2022)
10.4.3 Forecast Trend (2023-2028)
10.5 Others
11 Asia Pacific Market Analysis
11.1 China
11.1.1 Market Share
11.1.2 Historical Trend (2018-2022)
11.1.3 Forecast Trend (2023-2028)
11.2 Japan
11.2.1 Market Share
11.2.2 Historical Trend (2018-2022)
11.2.3 Forecast Trend (2023-2028)
11.3 India
11.3.1 Market Share
11.3.2 Historical Trend (2018-2022)
11.3.3 Forecast Trend (2023-2028)
11.4 ASEAN
11.4.1 Market Share
11.4.2 Historical Trend (2018-2022)
11.4.3 Forecast Trend (2023-2028)
11.5 Australia
11.5.1 Market Share
11.5.2 Historical Trend (2018-2022)
11.5.3 Forecast Trend (2023-2028)
11.6 Others
12 Latin America Market Analysis
12.1 Brazil
12.1.1 Market Share
12.1.2 Historical Trend (2018-2022)
12.1.3 Forecast Trend (2023-2028)
12.2 Argentina
12.2.1 Market Share
12.2.2 Historical Trend (2018-2022)
12.2.3 Forecast Trend (2023-2028)
12.3 Mexico
12.3.1 Market Share
12.3.2 Historical Trend (2018-2022)
12.3.3 Forecast Trend (2023-2028)
12.4 Others
13 Middle East and Africa Market Analysis
13.1 Saudi Arabia
13.1.1 Market Share
13.1.2 Historical Trend (2018-2022)
13.1.3 Forecast Trend (2023-2028)
13.2 United Arab Emirates
13.2.1 Market Share
13.2.2 Historical Trend (2018-2022)
13.2.3 Forecast Trend (2023-2028)
13.3 Nigeria
13.3.1 Market Share
13.3.2 Historical Trend (2018-2022)
13.3.3 Forecast Trend (2023-2028)
13.4 South Africa
13.4.1 Market Share
13.4.2 Historical Trend (2018-2022)
13.4.3 Forecast Trend (2023-2028)
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), 2018-2022
3. Global Hydraulic Fracturing Market Forecast: Breakup by Well Type (USD Million), 2023-2028
4. Global Hydraulic Fracturing Historical Market: Breakup by Technology (USD Million), 2018-2022
5. Global Hydraulic Fracturing Market Forecast: Breakup by Technology (USD Million), 2023-2028
6. Global Hydraulic Fracturing Historical Market: Breakup by Application (USD Million), 2018-2022
7. Global Hydraulic Fracturing Market Forecast: Breakup by Application (USD Million), 2023-2028
8. Global Hydraulic Fracturing Historical Market: Breakup by Region (USD Million), 2018-2022
9. Global Hydraulic Fracturing Market Forecast: Breakup by Region (USD Million), 2023-2028
10. North America Hydraulic Fracturing Historical Market: Breakup by Country (USD Million), 2018-2022
11. North America Hydraulic Fracturing Market Forecast: Breakup by Country (USD Million), 2023-2028
12. Europe Hydraulic Fracturing Historical Market: Breakup by Country (USD Million), 2018-2022
13. Europe Hydraulic Fracturing Market Forecast: Breakup by Country (USD Million), 2023-2028
14. Asia Pacific Hydraulic Fracturing Historical Market: Breakup by Country (USD Million), 2018-2022
15. Asia Pacific Hydraulic Fracturing Market Forecast: Breakup by Country (USD Million), 2023-2028
16. Latin America Hydraulic Fracturing Historical Market: Breakup by Country (USD Million), 2018-2022
17. Latin America Hydraulic Fracturing Market Forecast: Breakup by Country (USD Million), 2023-2028
18. Middle East and Africa Hydraulic Fracturing Historical Market: Breakup by Country (USD Million), 2018-2022
19. Middle East and Africa Hydraulic Fracturing Market Forecast: Breakup by Country (USD Million), 2023-2028
20. Global Hydraulic Fracturing Market Structure
Key Questions Answered in the Report
In 2021, the global market for hydraulic fracturing reached a size of USD 41.8 billion.
The market is expected to grow at a CAGR of 6.90% during the period 2023-2028.
The market is expected to reach a value of USD 62.38 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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