Sarasota, FL -- (SBWire) -- 06/27/2017 --Zion Market Research, the market research group announced the analysis report titled 'Hydraulic Fracturing Market: Global Industry Analysis, Size, Share, Growth, Trends, and Forecasts 2016–2024'
Global Hydraulic Fracturing Market: Overview
A technique, which is widely used for extraction of the crude oil and natural gas, is known as hydraulic fracturing. In hydraulic fracturing, injection of chemical additives, water, and propping agents are allowed at very high pressure and temperature in order to boost the rock permeability. High pressure, that is 600 bars pressure, is maintained of the fracturing fluid in order to inject into the formation. Such high pressure will create fractures and expand the width as the injection continues. This fracture can stretch over tens or hundreds of meters away from the wellbore. However, most of the injected hydraulic fracturing fluid reverses back to the surface and remaining stays inside the wellbore. Hydraulic fracturing fluid composition is extremely fluctuating in nature and highly depends on geological properties of the rock formation.
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Global Hydraulic Fracturing Market: Growth Factors
Growth in oil & gas reserves in the shale basins is expected to fuel the growth in the hydraulic fracturing market. Oil & gas is consumed for primary energy in power generation, household activities, and transportation across the globe, which is positively enhancing the market. Key manufacturers of oil & gas are experiencing a decline in the petroleum production levels owing to depletion of conventional reserves; this has widened the demand-supply gap. Thus, petroleum extirpation has risen from unconventional reserves by using horizontal drilling coupled with hydraulic fracturing techniques. Changing preferences of the manufacturers towards unconventional reserves include coal bed methane; tight gas, shale, and tight oil are projected to propel the hydraulic fracturing market growth in the near future.
Global Hydraulic Fracturing Market: Segmentation
The global hydraulic fracturing market is segmented based on the application, technology, and material. The application segment is categorized into tight gas, tight oil, shale gas, CBM, and others. Based on technology segment, the market is segregated into the sliding sleeve and plug & perf. The material segment is fragmented into proppant and others. The proppant segment is further sub-segmented into resin coated sand, sand, and ceramic.
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Global Hydraulic Fracturing Market: Regional Analysis
North America is the leading region in the global hydraulic fracturing market which is owing to the dominance of countries such as the U.S. and Canada. Huge investments are done by developing economies such as Australia, China, and Indonesia through FDI channels and presence of a huge number of CMB reserves and recoverable shale in China, may open up new growth avenue in the market. Potential to explore the untapped market in the unconventional hydrocarbon reserves in this region is fuelling the growth of the market. Availability of the skilled manpower, key resources such as technology and government support for increasing E&P activities in unconventional reserves attributes in giving rise to the hydraulic fracturing market growth in Asia Pacific. Other countries such as Argentina, Algeria, Russia, and Poland are witnessing significant growth coupled with ongoing developments for the improvement of the hydrocarbon reserves that are not conventional.
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Global Hydraulic Fracturing Market: Competitive Players
The key players in the global hydraulic fracturing market include United Oilfield Services, Tacrom Services S.R.L, Calfrac Well Services, Weatherford International, Superior Well Services, Cudd Energy Services, and Trican Well Services Ltd.
Global Hydraulic Fracturing Market by Regional Segment Analysis: North America (U.S.); Europe(UK, France, Germany); Asia-Pacific(China, Japan, India); Latin America(Brazil); The Middle East and Africa
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Global Hydraulic Fracturing Market 2016 Industry Analysis & Forecast 2024
Growth in oil & gas reserves in the shale basins is expected to fuel the growth in the hydraulic fracturing market.