San Francisco, 22 January, Pressure Pumping Market Size, Share &
Trends Analysis Report By Type (Hydraulic Fracturing, Cementing), By Well Type
(Horizontal, Vertical, Directional), By Region, Vendor Landscape, And Segment
Forecasts, 2018 – 2025.
The global pressure pumping market size is expected to reach
USD 75.1 billion by 2025, according to a new report by Grand View Research,
Inc., progressing at a CAGR of 4.1% during the forecast period. Rising
exploration & production (E&P) in unconventional oil & gas reserves
including shale basins is estimated to spur the growth of the market.
Increasing prominence of
unconventional reserves including coalbed methane (CBM), shale, tight oil, and
tight gas is likely to drive the market over the next few years. Advancements
in extraction techniques are also helping E&P companies in increasing the
yield in scanty profit regions such as the Arctic region and ultra-deep seas.
Governments of countries that
support natural gas E&P from conventional (oil, gas, and coal), as well as
unconventional sources (shale, CBM, and tight gas) are undertaking several
regulatory initiatives to promote hydraulic fracturing. This is leading to
upsurge in use of hydraulic fracturing for the development of unconventional
sources.
Stable prices in 2017 and an
upswing in upstream oil & gas investments are likely to augment the demand
for pressure pumping operations over the forecast period. Number of coil tubing
rigs in the U.S. registered an increase of nearly 3.3% from 2016 to 2017. Thus,
stable oil prices, coupled with increasing number of the coiled tubing units,
are expected to stoke the growth of the market over the forecast period
Pressure pumping of oil and gas
formations may lead to groundwater contamination, migration of gases and
fracking chemicals to surface, and contamination of surrounding air. In
addition, oil obtained through pressure pumping includes chemicals used in
fracking, which may increase corrosion rate in rail tank cars and pipelines.
Thus, environment related concerns with the product are likely to hamper growth
prospects.
Moratoriums and bans on
hydraulic fracturing from regional agencies in France, Romania, Tunisia,
Bulgaria, etc. are also expected to remain a major challenge for the industry.
Soaring need for fossil fuels in electricity generation and transportation,
however, is expected to propel the market.
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Report On Pressure Pumping Market Analysis:
Further Key Findings from the Report Suggest:
·
In terms of revenue, hydraulic
fracturing is anticipated to reach USD 58.3 billion by 2025 at a CAGR of 4.3%
from 2017 to 2025. The U.S. shale gas boom is likely to be a key factor behind
the growing prominence of hydraulic fracturing
·
In terms of revenue, the
cementing segment is projected to register a CAGR of 3.9% over the forecast
period. Increasing number of drilled but uncompleted wells is anticipated to
restrain the growth of the segment over the forecast period
·
Horizontal well type dominated
the global market with a share of 82.4% in 2016. The distinct benefits of
horizontal wells in terms of providing enhanced productivity are likely to
influence the growth of the segment positively in the coming years
·
The North America pressure
pumping market is anticipated to exceed USD 47.8 billion by 2025. Flourishing
upstream oil and gas sector in the region is likely to drive the regional
market over the forecast period
·
Asia Pacific is projected to
witness a remarkable CAGR of 5.5% over the forecast period, with China and
Australia being the key revenue contributors in the region.
·
Some of the key companies in
the industry are Baker Hughes; Schlumberger Limited; Halliburton; C&J
Energy Services, Inc.; Calfrac Energy Services Ltd.; Trican; and Superior
Energy Services, Inc.
Grand View Research has
segmented the global pressure pumping market report on the basis of type, well
type, and region:
Pressure Pumping Type Outlook
(Revenue, USD Million, 2014 - 2025)
·
Hydraulic Fracturing
·
Cementing
·
Others
Pressure Pumping Well Type
Outlook (Revenue, USD Million, 2014 - 2025)
·
Horizontal
·
Vertical
·
Directional
Pressure Pumping Regional
Outlook (Revenue, USD Million, 2014 - 2025)
·
North America
o
U.S.
o
Canada
·
Europe
o
Russia
o
U.K.
·
Asia Pacific
o
China
o
Australia
·
Latin America
o
Brazil
o
Argentina
·
MEA
o
U.A.E
o
Algeria
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About Grand View Research
Grand View Research, Inc. is a U.S. based market research and
consulting company, registered in the State of California and headquartered in
San Francisco. The company provides syndicated research reports, customized
research reports, and consulting services. To help clients make informed
business decisions, we offer market intelligence studies ensuring relevant and
fact-based research across a range of industries, from technology to chemicals,
materials and healthcare.
For more information: www.grandviewresearch.com/
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