Los Angeles, CA -- (SBWire) -- 02/19/2020 --QY Research has recently published a report titled "Global Dissolvable Frac Plugs Market Professional Survey Report 2020" predicting the potential growth opportunities that exist in the global market. According to the report, the global dissolvable frac plugs market was worth US$107.16mn during 2019 and is expected to reach US$159.81mn by the end of 2026, registering a CAGR of 5.54% during the forecast period.
Get PDF sample copy of this Dissolvable Frac Plugs Market Report: https://www.qyresearch.com/sample-form/form/1505550/global-dissolvable-frac-plugs-market
Rise in Lateral Lengths of Well Expected to Augment Dissolvable Frac Plugs Market Demand
The global dissolvable frac market is augmented due to rise in demand of production of oil and gas. Recovery of rigs and wells in the coming years are expected to increase. Horizontal wells are becoming popular, boosting the demand for frac stages in its drilling activities. Rise in lateral lengths of wells and reduced mill out time are key factors driving the market.
Rise in Gas Production to Bolster Demand for Horizontal Segment
The global dissolvable frac plugs market is segmented into type and application. The type segment is segregated into small and large caliber. The application segment is divided into horizontal and vertical well.
Horizontal segment is expected to rise in demand during the forecast period as they are used for drilling long lateral areas in the gas production.
Demand from Shale Basins to Trigger Growth in North America
North America is expected to lead the global market during the forecast period as this region is witnessing rise in demand of dissolvable frac from major shale basins such as Williston Basin, Eagle Ford, South-Central Oklahoma, and Permian Basin.
Key players in the market are developing high performance dissolvable frac plugs to overcome challenges faced by contractors or operators. They are also adopting strategic alliances to gain competitive edge in the market.
Key Players
The key players operating in the global dissolvable frac plugs market are Schlumberger, Halliburton, BHGE, Innovex, NOV, Magnum Oil Tools, Weatherford, Rubicon Oilfield International, CNPC, and Peak Completion.
Enquire for customization in Report and Discount Request @ https://www.qyresearch.com/customize-request/form/1505550/global-dissolvable-frac-plugs-market
About QYResearch
QYResearch established in 2007, focus on custom research, management consulting, IPO consulting, industry chain research, data base and seminar services. The company owned a large basic data base (such as National Bureau of statistics database, Customs import and export database, Industry Association Database etc), expert's resources (included energy automotive chemical medical ICT consumer goods etc.
QY Research Estimates Global Dissolvable Frac Plugs Market Size to Touch US$ 159.81 Mn by 2026 End
Hydraulic fracturing operators are keen on adopting various technologies and products that can aid in maximizing the production while being cost and time of fracturing. These indispensable demands have led to evolvement of frac plugs in the fracturing industry.