Hydraulic Fracturing Market size worth over $68bn by 2024
Published Date: January 23, 2017 Author: Global Market Insights, Inc.
Hydraulic fracturing Market size is forecast to cross USD 68 billion by 2024, according to a new research report by Global Market Insights, Inc.
Increasing investment towards exploration and production of unconventional resources due to rising concern towards rapid depletion of conventional resources will drive the hydraulic fracturing market size during the forecast period. Growing petroleum demand, rapid infrastructure development and demographics will drive industry growth. Global hydrocarbon based liquid fuel demand for2015 was more than 92 mb/d.
Natural gas is expected to witness the considerable growth owing to wide applications across industries and power plants. Its environment friendly nature makes it preferable over other alternatives. Tight gas accounted for over 15% of global hydraulic fracturing market share in 2015. Horizontal fracturing demand is expected to witness substantial growth, owing to its ability to access natural gas surrounding the entire portion of horizontal drilled section.
Plug and perforation hydraulic fracturing market size was valued at over USD 15 billion in 2015 and is expected to witness handsome growth in future. Ease of accessibility for fracking in horizontal wells will boost technology demand. Several restrictions in some countries owing to its adverse environmental impact including noise and visuals impact, seismic events, land surface disturbance etc. may hamper the business. High operational expenditures involved in development of shale gas is also among the major restraints.
Browse key industry insights spread across 145 pages with 182 market data tables & 11 figures & charts from the report, “Hydraulic Fracturing Market Size By Well (Horizontal, Vertical), By Technology (Plug-And-Perforation, Sliding Sleeve), By Application (Crude Oil, Shale Gas, Tight Gas, Tight Oil) Industry Analysis Report, Regional Outlook (U.S., Canada, Mexico, UK, Russia, Norway, China, Brunei, Australia, Indonesia, Saudi Arabia, Iran, Oman, Argentina), Price Trends, Competitive Market Share & Forecast, 2016 – 2024” in detail along with the table of contents:.
Positive outlook toward automobile and manufacturing sector may favor the crude oil demand in coming years. Canada hydraulic fracturing market size accounted for over 10% of regional revenue share in 2015. Increasing exploration and production of unconventional resources including shale gas coupled with availability of resources and advanced technology may favor growth.
Argentina hydraulic fracturing market size was valued at over USD 2 billion in 2015 and is expected to witness a handsome growth in future. Abundant availability of unconventional resources will propel the regional growth. Government has also introduced various initiatives or measures to encourage market dynamics and competition, facilitating entry of new players which will drive demand.
Iran hydraulic fracturing market share is set to witness a substantial growth due to presence of unconventional reserves. In April 2016, (CEP) Center for Exploration and Production announced 158 billion barrels of proven oil reserves. Indonesia is set to exceed USD 300 million by 2024. The country holds decent shale reserves which could possibly be measure to 574 TCF.
Hydraulic fracturing market share is consolidated in nature as large number of players are catering to industry. Some of the key players in the industry are FTS, Weatherford International, Calfrac Well Services, Superior Energy Services, Baker Hughes, Schlumberger, Haliburton, Tacrom Services and Trican Well Services.
Hydraulic Fracturing market research report includes in-depth coverage of the industry with estimates & forecast in terms of revenue in USD Billion from 2013 to 2024, for the following segments:
Global Hydraulic Fracturing Market By Technology
- Plug and perforation
- Sliding Sleeve
Global Hydraulic Fracturing Market By Well
Global Hydraulic Fracturing Market By Application
- Crude Oil
- Shale Gas
- Tight Gas
- Tight Oil
The above information is provided on a regional and country basis for the following:
- North America
- Asia Pacific
- Middle East & Africa
- Saudi Arabia
- Latin America