PUBLISHER: Value Market Research | PRODUCT CODE: 1307018
PUBLISHER: Value Market Research | PRODUCT CODE: 1307018
The global demand for Hydraulic Fracturing Market is presumed to reach the market size of nearly USD 70.75 BN by 2030 from USD 37.69 BN in 2022 with a CAGR of 8.19% under the study period 2023 - 2030.
Hydraulic fracturing, or fracking, is a technique employed to extract natural gas or oil from shale rock formations situated deep beneath the Earth's surface. It involves injecting large volumes of water, sand, and chemicals under high pressure into the rock formations, creating fractures that allow the trapped natural gas or oil to flow to the surface for extraction.
The hydraulic fracturing market is driven by the presence of vast reserves of natural gas and oil trapped in shale formations. These resources, which were previously inaccessible using conventional extraction methods, can now be unlocked using fracking, thereby offering new opportunities for energy production and contributing to the growth of the market. By tapping into domestic shale reserves, nations reduce their reliance on imported energy resources, thus increasing their energy security. This driver has fueled the growth of the hydraulic fracturing market in regions aiming to achieve energy self-sufficiency. The natural gas and oil extraction from shale formations creates employment opportunities, stimulates local economies, and generates revenue through royalties and taxes. These economic benefits have led to increased investment in these extraction projects. While the world is transitioning towards renewable energy sources, natural gas is considered a transitional fuel due to its lower carbon emissions compared to coal or oil. Hydraulic fracturing facilitates the extraction of natural gas, which can serve as a bridge fuel during the transition to a cleaner energy mix. Ongoing technological advancements in oil extraction techniques and equipment have been crucial drivers for market growth. Innovations in drilling technologies, well-completion techniques, and reservoir characterization have significantly improved extraction efficiency and reduced operational costs. These advancements have attracted investment and boosted the adoption of this market.
The research report covers Porter's Five Forces Model, Market Attractiveness Analysis, and Value Chain analysis. These tools help to get a clear picture of the industry's structure and evaluate the competition attractiveness at a global level. Additionally, these tools also give an inclusive assessment of each segment in the global market of hydraulic fracturing. The growth and trends of hydraulic fracturing industry provide a holistic approach to this study.
This section of the hydraulic fracturing market report provides detailed data on the segments at country and regional level, thereby assisting the strategist in identifying the target demographics for the respective product or services with the upcoming opportunities.
This section covers the regional outlook, which accentuates current and future demand for the Hydraulic Fracturing market across North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. Further, the report focuses on demand, estimation, and forecast for individual application segments across all the prominent regions.
The research report also covers the comprehensive profiles of the key players in the market and an in-depth view of the competitive landscape worldwide. The major players in the hydraulic fracturing market include Halliburton (US), Schlumberger (US), Baker Hughes (US), NexTier Oilfield Solutions(US), Calfrac Well Service (Canada), Trican Well Service (Canada), STEP Energy Services(Canada), Nine Energy Services(US), FTS International (US), U.S. Well Services (US), Petro Welt Technologies AG (Austria), AFG Holdings, Inc (US), Liberty Oilfield Services (US), Patterson-UTI Energy, Inc. (US), RPC Inc. (US), ProPetro Holding Corp. (US), National Energy Services Reunited Corp. (US), Tacrom Services Srl (Romania), Anton Oilfield Services Group (China), TAM International, Inc. (US), Legend Energy Services (US), and ProFrac (US). This section consists of a holistic view of the competitive landscape that includes various strategic developments such as key mergers & acquisitions, future capacities, partnerships, financial overviews, collaborations, new product developments, new product launches, and other developments.