Product Code: RP-ID-10325285 |
Published Date: 21 Oct 2022 |
Region: NA |
Category: Industrial Automation & Equipment |
Report ID: 10325285
Market Overview:
Global Pressure pumping market Size study with COVID Impact, by Type(Hydraulic Fracturing, Cementing, Others) By Well Type(Horizontal, Vertical, Directional) and Regional Forecasts 2020-2027
Global Pressure pumping market is valued approximately at USD 118.4 billion in 2019 and is anticipated to grow with a healthy growth rate of more than 15.8% over the forecast period 2020-2026. Pressure pumping is a procedure in which the fractures are propagated through rock layers with the help of pressurized fracturing fluid and the cement is pumped into the well bore for completion. Pressure pumping is primarily used to extract resources from reservoirs with low permeability such as shale gas, unconventional liquids and tight gas, which are otherwise very difficult to extract using regular drill procedures. The market for pressure pumping is projected to witness a good growth due to growing activities in exploring and producing non-conventional shale gas and additional operations such as enhanced oil recovery (EOR), sand control, acidification, and cementing services. According to Statista, Since 2000, shale gas production in the United States has increased dramatically from around 300 billion cubic feet to 16.54 trillion cubic feet in 2016 , and is expected to reach around 33.4 trillion cubic feet in 2050. High installation costs, water contamination concerns, strict government regulations and earthquake activity, stringent government regulation, public opposition in this regard, lack of skilled labor, and operational challenges are few factors that can restrain the market for pressure pumping. The increasing shale gas bin and usage of conventional sources and rising processes like waterless fracturing foam are opportunity factors. As per Statista, Electricity generated by most energy sources worldwide, except liquids, is projected to increase in the coming years. Renewable electricity is expected to grow by as much as 21.66 trillion kilowatt hours in 2050, from nearly 7 trillion kilowatt hours in 2018
The regional analysis of global Pressure pumping market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World. Due to the presence of numerous oil fields and gas serving industries, and favorable government regulations, the Middle East is expected to show significant growth in the pressure pumping market. Asia Pacific and the North American regions are expected to see strong market progress due to population growth, the rise in demand for energy due to rapid industrialization and development in drilling oil and gas exploration. The regional Latin American market is expected to grow significantly due to its increasing economic development and energy demand.
Major market player included in this report are:
China Oilfield Services Ltd.,
Baker Hughes Incorporated,
Weatherford International Limited,
Schlumberger Limited,
Premier Pressure Pumping, and
Halliburton Company
Universal and Weatherford International,
Frontier Oilfield Services Inc.,
Superior Energy Services,
Trican Well Services Limited, and
Calfrac Well Services Ltd.
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Type
Hydraulic Fracturing
Cementing
Others
By Well Type
Horizontal
Vertical
Directional
By Region:
North America
U.S.
Canada
Europe
UK
Germany
Asia Pacific
China
India
Japan
Latin America
Brazil
Mexico
Rest of the World
Furthermore, years considered for the study are as follows:
Historical year – 2016, 2017, 2018
Base year – 2019
Forecast period – 2020 to 2026
Target Audience of the Global Residential Energy Management Market in Market Study:
Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Venture capitalists
Value-Added Resellers (VARs)
Third-party knowledge providers
Investment bankers
Investors
Baker Hughes Incorporated,
Weatherford International Limited,
Schlumberger Limited,
Premier Pressure Pumping, and
Halliburton Company
Universal and Weatherford International,
Frontier Oilfield Services Inc.,
Superior Energy Services,
Trican Well Services Limited, and
Calfrac Well Services Ltd.
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