Hydraulic Fracturing Market - Global Industry Analysis, Size, Share, Trends, Analysis, Growth, and Forecast 2017 - 2025

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Hydraulic Fracturing Market - Global Industry Analysis, Size, Share, Trends, Analysis, Growth, and Forecast 2017 - 2025

Status : July, 2020 | Energy & Mining | PPT format

Report Digest


Global Hydraulic Fracturing Market: Snapshot

Oil and Gas industry is under pressure due to exhausting natural petroleum reserves. This has driven the organizations to decide on new and flighty strategies for the oil extraction. One such technique is flat boring into the shale shakes as they are one of the biggest source of unrefined petroleum following the pool present under the ocean bed. This penetrating of the shale rocks is finished utilizing hydraulic fracturing equipment. They are configured to enter hard surface of the stones while keeping the waste and breakdown of the stones to the base. They are additionally intended to stay away from spillage of the oil while extraction. These benefits are major factors responsible for the growth of global hydraulic fracturing market.

Factors Responsible for the Growth of Global Hydraulic Fracturing Market

  • Plug and Play is the New Trend: Since oil and gas industry is exceptionally aggressive, organizations are calling for drills that can go about as a fitting and play devices. For this they require machines that can diminish the hour of gathering and can get straightforwardly to work once reach at the site. To oblige this interest, the shale gas water driven crack producers are creating machines that are anything but difficult to ship, amass, and work. With the assistance of these improvements, the players can catch an extensive portion of the market. This is one of the major factor driving the growth of global hydraulic fracturing market.
  • Ever Growing Demand for Natural Gas: Despite the fact that debilitating with a bewildering rate, petroleum derivatives and flammable gas remains the most well-known powers today. The interest is additionally expected to become significantly further later on, yet the shortage of the oil and gas in the underground hold is drawing the players’ consideration towards the separating the gas that is caught between huge shakes underneath the earth's surface. This is yet another factor that is responsible for the growth of global hydraulic fracturing market in coming years.

The process of hydraulic well fracturing (or ‘fracking’) essentially includes fracturing the rock or creating enough pressure to induce cracking the rock layer and is used after the hole has been drilled. This is necessary in order to create pathways and facilitate the movement of natural gas and oil through the rock to the oil well and is helpful in augmenting volumes of recovery of fluids. This is one of the most popular technologies used in unconventional oil and natural gas production. The technology has gained significance in a number of countries focusing on natural gas reservoirs for meeting their energy needs, especially in the U.S. A significant part of oil and gas exploration activities in North America tend to incline toward shale gas extraction in order to keep many oil and gas operations lucrative. For instance, in many states of the U.S., hydraulic well fracturing process is prominently used for keeping the exploration activities in several maturing oil and natural gas fields economically viable. Along with horizontal drilling, the process of hydraulic well fracturing, has recently opened up new avenues in the area of oil and gas production.

Common fracturing fluids used in the process are water, chemical additives, and proppants typically consisting of sand, ceramic pellets or any small particles that resist compression. These fluids are used to induce fracturing and keep open the fractures created within the rocks lying thousands of feet beneath the surface. After the injection of the fluids are over, the internal pressure of the rock formation causes fluids, along with water, to flow back to the surface. Typically called ‘flowback’ fluid, these are stored in tanks or pits so that they can be used for treatment or recycling or disposal, mostly to the underground, if possible.  

Global Hydraulic Fracturing Market: Overview 

Millions of gallons of water, chemicals, and sand are pushed underground to take apart rocks and release gases, in a process known as hydraulic fracturing. While the hydraulic process is often confused with the process of drilling, hydraulic fracturing is actually used after a hole has been drilled. The process is widely used all over the globe, particularly in the Middle East. 

Major oil and gas producers have been feeling the pinch of declining conventional reserves. However, with the assistance of hydraulic fracturing techniques, hydrocarbon extraction from unconventional reserves has become tad easier. 

Global Hydraulic Fracturing Market: Key Trends 

The world is going through a crisis in terms of depleting conventional reserves and hydraulic fracturing is a silver lining for those who are directly or indirectly dependent on these reserves. The demand for hydraulic fracturing is high as a shift in preference can be witnessed for unconventional reserves including shale, tight gas, tight oil, and coal bed methane, which is in turn fuelling the market. Also, rapid infrastructure development and industrialization are supplementing the demand for hydraulic fracturing.   

Although hydraulic fracturing is being given a lot of importance in various countries, the market has had to face the music on account of several adverse effects such as noise and visual impact, seismic events, and land surface disturbances. In addition, expensive operational costs involved in development of shale gas is presenting a tough challenge to hydraulic fracturing companies. 

Global Hydraulic Fracturing Market: Market Potential 

The demand for energy is never going to subside. There is an urgent need for innovative ideas and new technologies that will reduce development and management costs and increase efficiency and effectiveness. The economic advantage achieved will further help drilling, exploration, expansion, and fracturing activities in new territories.   

Saudi Arabian Oil Company, also called Saudi Aramco, has been relentlessly working on the stimulation and fracturing of wells and has been expanding and improving continuously in the areas of fracture design, use of novel materials, and field implementation. It recently introduced the use of local sand as proppants combined with the channel fracturing technique. 

Seawater-based fracturing fluids is another commendable technology being developed and adopted in Saudi Arabia, which will help save valuable fresh water. The few field applications and laboratory experiments have shown constancy at high pressures and temperatures, compatibility with fracturing additives and formation fluids, and resilience against scale formation. This technology will go a long way in serving the environment tremendously through the use of seawater and will help make fresh water available and affordable in remote areas. 

Global Hydraulic Fracturing Market: Regional Outlook 

The U.S. market for hydraulic fracturing is prospering due to growing exploration and production of unconventional resources such as tight oil and shale gas, coupled with available resources such as advanced technology and skilled manpower. 

Due to surplus availability of unconventional resources, China’s hydraulic fracturing market is expected to grow during the forecast period. Whereas in Europe, increasing investigation related to the development of available hydrocarbon reserves is likely to favor the business growth. 

Escalating investments in oil and gas projects are giving impetus to the market in Saudi Arabia. Saudi Aramco is planning to invest US$334 billion to support infrastructure project, service facilities, and in the exploration and production phase of unconventional resources. 

Global Hydraulic Fracturing Market: Competitive Analysis  

The global hydraulic fracturing market is highly consolidated despite the presence of a large number of players operating across the value chain. Some of the prominent participants in this industry are FTS International, Cudd Energy Services, Patterson UTI Tacrom Services, Trican Well Services, Baker Hughes Incorporated, Trican Well Services Ltd, Weatherford International, Haliburton, Calfrac Well Services, Schlumberger Limited., ConocoPhilips, Franklin, United Oilfield Services, and Superior Energy Services.  

In 2016, Oklahoma’s Seventy Seven Energy entered into a merger agreement with Patterson UTI to expand its fracturing business with 201 high specific rigs. 

The study presents a granular assessment and quantitative evaluation of:

  • Key growth factors and prominent trends
  • Size and share of key segments in overall market
  • Key challenges and winning imperatives
  • Factors shaping competitive landscape
  • Insights into how contours of market will change in coming years
  • Technological advances
  • New avenues and imminent investment pockets
  • Regulatory landscape shaping current and future strategies of companies

The region-wise assessment includes market dynamics in:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The study is prepared with the help of an extensive primary and secondary research. Primary research includes but not limited to interactions, interviews, surveys, and events. Opinions of policy makers and industry experts are carefully integrated into the insights to complement primary research. Volumes of secondary data gleaned through renowned paid sources, annual statements, reputed journals, and government documents offer insights into current dynamics and key evolution trajectories the market is likely to assume. The research employs various industry-wide analytics methods and well-established methodologies to ascertain the attractiveness of key segments. Further, it evaluates the lucrativeness of key regions and factors underlying their maturity. The insights notably include a detailed analysis of forces behind vendor differentiation and offers insight into investment-decision making by prominent players.

The report strives to enlighten businesses and industry stakeholders on multiple facets of the growth dynamic of the market, the key of which include answers to:

  • Which key factors will shape the competitive landscape?
  • Which trends will stimulate research and development activities in different geographies?
  • Which are the lucrative growth areas and what is the size of potential they are likely contribute to the overall market?
  • Which disruptions in market growth are likely to come with the new business models?
  • Which are some of the recent overhauls in policies that may change the course of the market significantly?
  • Which are the geographies that will form sizable sources of new streams to new and established players alike?
  • How are top players likely to realign their strategy to counter the forces of competition?
  • Which key strategies emerging players are likely to focus on to consolidate their position?
  • Which changes in end-user preferences might affect the status quo held by the leading players?
  • Which are some of the game-changing innovations influencing the projected share and revenue of the market and its segments?

Note: Utmost care has invariably been taken to present data and arrive at statistics at all the TMR Research reports. Meanwhile, some recent developments and new industry trends may take time to be included in the reports.