Hydraulic Fracturing & Services Market: increasing in demand for oil & gas propelling the growth of hydraulic fracturing industry.
Hydraulic fracturing, which is also known as fracking, is a stimulation technique used to extract oil and gas from shale rocks. Large volumes of water mixed with sand and chemical additives, also called hydraulic fluid, are pumped down the wellbore into the reservoir formations at high pressures. These cause small fractures, allowing the oil and gas trapped in the rock to flow back to the surface. There is high scope for the Hydraulic Fracturing & Services Market due to rise in demand in oilfields through 2020.
Scope and Regional Forecast of the Hydraulic Fracturing & Services Market:
According to the IndustryARC research analysis studies on the Hydraulic Fracturing & Services Market, the costs associated with procuring water and sand plays a major role in deciding the fracturing service cost per well in each region.
The Hydraulic Fracturing & Services Market in North America is expected to grow with a healthy pace since, there is high demand for the hydraulic companies and services high in the US and Canada which is expected to continue through 2020.
The Hydraulic Fracturing & Services Market in Europe and Asia-Pacific with rich shale oil & gas resources that can be economically extracted. Regulations for hydraulic fracturing in some European countries are not favorable. However, recent technological advancements have made the fracturing process safer and efficient, making many countries across the globe eager to extract their oil and gas resources.
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Segmentation and Key Players of the Hydraulic Fracturing & Services Market:
The Hydraulic Fracturing & Services Market is segmented into various categories in the IndustryARC marketing research report by split by resources, by cost analysis and by geography.
By split of resources: Water Demand, Hydraulic Fracturing Proppant Demand (Fracturing Sand Demand (Includes resin coated), Bauxite Demand) and Chemical Additives and other Materials Demand (Friction reducers, Biocides, Solvents, Surfactants, Scale inhibitors and Acids)
By cost analysis: Well Simulation, Well Construction – By Number of Fracturing Stages and Waste Disposal
By geography: North America, South America, Europe, Asia Pacific and ROW
The key players in the Hydraulic Fracturing & Services Market according to the IndustryARC research report are as follows:
- Baker Hughes Inc. (BHI)
- Calfrac Well Services Ltd. (CFW)
- FTS International Inc.
- China National Petroleum Corporation (CNPC)
- Halliburton Co. (HAL)
The Hydraulic Fracturing & Services Market is a thriving market with increasing use of frac equipment for fracking process and hydraulic fracturing process in oil and gas industries and other end user industries. This market is expected to high growth due to rise in use of fracking pumps and hydraulic fracturing services by industries across the globe through 2020.
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