San Francisco, 11
February, Hydraulic Fracturing Market Analysis By Technology (Plug & Perf,
Sliding Sleeve), Material (Proppant (Sand, Ceramic, Resin Coated Sand)),
Application (Shale Gas, Tight Gas, Tight Oil, Coal Bed Methane (CBM)) And
Segment Forecasts To 2024
The global hydraulic fracturing market is expected to reach USD
81.10 billion by 2024, according to a new report by Grand View Research, Inc.
Growing E&P companies’ concern towards declining production rates in
conventional hydrocarbon reserves along with shifting focus towards developing
unconventional oil & gas blocks globally is anticipated to drive the market
growth.
Favorable initiatives by the
U.S. and Chinese government in the form of financial aids, tax incentives and
easy provision of FDI in the hydrocarbon sector are estimated to steer the
industry expansion over the next few years. Several bans, moratoriums and pubic
concerns regarding environmental impacts of the technology particularly in
counties including France, Tunisia, Bulgaria, Romania, and South Africa are
expected to remain key challenges for the industry participants over the
forecast period.
Plug & perf technology
dominated the global hydraulic fracturing market accounting for over 80% of the
total revenue in 2015. The technique enables multistage fracking in cased holes
and is widely used in tight oil and shale completions particularly in the U.S.
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Report On Hydraulic Fracturing Market Analysis:
Further key findings from the
report suggest:
·
Proppants emerged as the
largest fracturing materials with net revenue expected to exceed USD 14.0
billion by 2024. Ceramic proppants are anticipated to grow at an estimated CAGR
of 7.6% from 2016 to 2024.
·
Shale gas dominated the global
demand and accounted for 30.2% of the total hydraulic fracturing revenue in
2015. The emergence of the shale boom in the U.S. along with increasing acreage
of shale basins globally particularly in China and Canada is expected to drive
market growth in the segment. The U.S. hydraulic fracturing demand in tight gas
formations was valued at USD 6.01 billion in 2015 and is expected to grow at a
CAGR of 8.7% from 2016 to 2024.
·
North America hydrofracking
industry dominated the global demand and is anticipated to remain the largest
regional market over the forecast period. The regional market is anticipated to
witness moderate growth over the next eight years to exceed a net worth of USD
65.0 billion by 2024.
·
Asia Pacific is anticipated to
witness the fastest growth over the forecast period owing to large available
technically recoverable unconventional oil & gas reserves and increasing
FDI flow in the hydrocarbon sector in China, India, and Australia. The region
accounted for 6.6% of the global revenue in 2015 and is expected to grow at a
CAGR of 12.1% over the next eight years.
·
The global hydraulic fracturing
market was dominated by major oilfield services companies including Baker
Hughes, Schlumberger, Halliburton, Weatherford, Calfrac Well Services, Cudd
Energy and FTS International.
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Grand View Research At: https://www.grandviewresearch.com/industry/conventional-energy
Grand View Research has segmented the
hydraulic fracturing market on the basis of technology, material, application
and region:
Global Hydraulic Fracturing
Technology Outlook (Revenue, USD Million, 2014 - 2024)
·
Plug & Perf
·
Sliding Sleeve
Global Hydraulic Fracturing
Material Outlook (Revenue, USD Million, 2014 - 2024)
·
Proppant
o
Sand
o
Ceramic
o
Resin Coated Sand
·
Others
Global Hydraulic Fracturing
Application Outlook (Revenue, USD Million, 2014 - 2024)
·
Shale Gas
·
Tight Gas
·
Tight Oil
·
CBM
·
Others
Global Hydraulic Fracturing
Regional Outlook (Revenue, USD Million, 2014 - 2024)
·
North America
o
U.S.
o
Canada
o
Mexico
·
Europe
o
UK
o
Russia
o
Poland
·
Asia Pacific
o
China
o
Australia
·
Middle East & Africa
o
UAE
o
Algeria
o
South Africa
·
Central & South America
o
Brazil
o
Argentina
o
Venezuela
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Press Release of this Report: www.grandviewresearch.com/press-release/global-hydraulic-fracturing-market
About Grand
View Research
Grand View Research provides syndicated as well as customized research reports and consulting services on 46 industries across 25 major countries worldwide. This U.S.-based market research and consulting company is registered in California and headquartered in San Francisco. Comprising over 425 analysts and consultants, the company adds 1200+ market research reports to its extensive database each year. Supported by an interactive market intelligence platform, the team at Grand View Research guides Fortune 500 companies and prominent academic institutes in comprehending the global and regional business environment and carefully identifying future opportunities.
Grand View Research provides syndicated as well as customized research reports and consulting services on 46 industries across 25 major countries worldwide. This U.S.-based market research and consulting company is registered in California and headquartered in San Francisco. Comprising over 425 analysts and consultants, the company adds 1200+ market research reports to its extensive database each year. Supported by an interactive market intelligence platform, the team at Grand View Research guides Fortune 500 companies and prominent academic institutes in comprehending the global and regional business environment and carefully identifying future opportunities.
For more information: www.grandviewresearch.com/
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