Hydraulic Fracturing Market – Overview:-
The increase in demand of energy and the increase in inclination towards production and exploration of non-conventional sources of energy such as shale gas and tight oil among others is expected to further drive the growth of the market. Favorable government rules and regulations and the increased government expenditure for promoting the extraction of natural resources is further expected to drive the growth of the Hydraulic Fracturing Market .
According to the U.S. Department of Energy, up to 95% of the new wells that are being drilled currently or are drilled recently are fractured hydraulically. This accounts for around 75% of total natural gas production and almost 50% of total crude oil production from the U.S.
Industry Segment Overview:-
The horizontal hydraulic fracture technology is prominent in the market due to its advantage of fracturing multiple oil wells from the same point. Based on application, hydraulic fracturing market is segmented into crude oil, shale gas, tight oil, and others. Tight oil segment is dominating the global market with increasing demand for oil from non-conventional sources, and shale rocks are having low permeability.
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- U.S. Silica Holdings
- FTS International
- US Well Services
- Franklin Well Service LLC
- EOG Resources
- Baker Hughes GE
- National Oilwell Varco, Inc.
- Patterson-UTI Energy
- FracChem LLC.
Regional Analysis of Hydraulic Fracturing Market :-
Among all technologies, plug and perforation is the most commonly used for the extraction of crude oil and natural gas. It is used in cased hole wells and is flexible in nature. Plug and perforation technique majorly helps in achieving high production rate. It is mainly used for shale oil and shale gas completions. It has the ability to be reworked in case of any problem or when production process pauses. The ease of accessibility provided by such technology for fracking in horizontal wells, make it a favorable technology than alternatives such as sliding sleeve and others.
North America region is expected to dominate the hydraulic fracturing market with the highest CAGR. The region is expected to grow with the increase in extraction of minerals from the earth’s crust. In the Europe region, rising investigation for the development of available hydrocarbon reserve is expected to drive the growth of the market.
Major Points From Table Of Content:-
1 Executive Summary
2 Scope Of The Report
3 Market Landscape
4 Market Dynamics
5 Global Hydraulic Fracturing Market, By Technology
6 Global Hydraulic Fracturing Market, By Well Type
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7 Global Hydraulic Fracturing Market, By Application
7.2 Crude Oil
7.2.1 Market Estimates & Forecast, 2018-2023
7.2.2 Market Estimates & Forecast By Region, 2018-2023
7.3 Shale Gas
7.3.1 Market Estimates & Forecast, 2018-2023
7.3.2 Market Estimates & Forecast By Region, 2018-2023
7.4 Tight Oil
7.4.1 Market Estimates & Forecast, 2018-2023
7.4.2 Market Estimates & Forecast By Region, 2018-2023
7.5.1 Market Estimates & Forecast, 2018-2023
7.5.2 Market Estimates & Forecast By Region, 2018-2023
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