The global pressure
pumping market size is expected to reach USD 75.1 billion by 2025,
according to a new report by Grand View Research, Inc., progressing at a CAGR
of 4.1% during the forecast period. Rising exploration & production
(E&P) in unconventional oil & gas reserves including shale basins is
estimated to spur the growth of the market.
Increasing prominence of unconventional reserves
including coalbed methane (CBM), shale, tight oil, and tight gas is likely to
drive the market over the next few years. Advancements in extraction techniques
are also helping E&P companies in increasing the yield in scanty profit
regions such as the Arctic region and ultra-deep seas.
Governments of countries that support natural gas
E&P from conventional (oil, gas, and coal), as well as unconventional sources
(shale, CBM, and tight gas) are undertaking several regulatory initiatives to
promote hydraulic fracturing. This is leading to upsurge in use of hydraulic
fracturing for the development of unconventional sources.
Stable prices in 2017 and an upswing in upstream oil
& gas investments are likely to augment the demand for pressure pumping
operations over the forecast period. Number of coil tubing rigs in the U.S.
registered an increase of nearly 3.3% from 2016 to 2017. Thus, stable oil
prices, coupled with increasing number of the coiled tubing units, are expected
to stoke the growth of the market over the forecast period
Pressure pumping of oil and gas formations may lead to
groundwater contamination, migration of gases and fracking chemicals to
surface, and contamination of surrounding air. In addition, oil obtained
through pressure pumping includes chemicals used in fracking, which may
increase corrosion rate in rail tank cars and pipelines. Thus, environment
related concerns with the product are likely to hamper growth prospects.
Moratoriums and bans on hydraulic fracturing from
regional agencies in France, Romania, Tunisia, Bulgaria, etc. are also expected
to remain a major challenge for the industry. Soaring need for fossil fuels in
electricity generation and transportation, however, is expected to propel the
market.
Browse full research report on Pressure Pumping Market: https://www.grandviewresearch.com/industry-analysis/pressure-pumping-market
Further
Key Findings from the Report Suggest:
- In terms of
revenue, hydraulic fracturing is anticipated to reach USD 58.3 billion by
2025 at a CAGR of 4.3% from 2017 to 2025. The U.S. shale gas boom is
likely to be a key factor behind the growing prominence of hydraulic
fracturing
- In terms of
revenue, the cementing segment is projected to register a CAGR of 3.9%
over the forecast period. Increasing number of drilled but uncompleted
wells is anticipated to restrain the growth of the segment over the
forecast period
- Horizontal
well type dominated the global market with a share of 82.4% in 2016. The
distinct benefits of horizontal wells in terms of providing enhanced
productivity are likely to influence the growth of the segment positively
in the coming years
- The North
America pressure pumping market is anticipated to exceed USD 47.8 billion
by 2025. Flourishing upstream oil and gas sector in the region is likely
to drive the regional market over the forecast period
- Asia Pacific
is projected to witness a remarkable CAGR of 5.5% over the forecast
period, with China and Australia being the key revenue contributors in the
region.
- Some of the
key companies in the industry are Baker Hughes; Schlumberger Limited;
Halliburton; C&J Energy Services, Inc.; Calfrac Energy Services Ltd.;
Trican; and Superior Energy Services, Inc.
Browse more reports of this category
by Grand View Research: https://www.grandviewresearch.com/industry/oil-and-gas-drilling-and-extraction-equipments
Grand
View Research has segmented the global pressure pumping market report on the
basis of type, well type, and region:
Pressure
Pumping Type Outlook (Revenue, USD Million, 2014 - 2025)
- Hydraulic
Fracturing
- Cementing
- Others
Pressure
Pumping Well Type Outlook (Revenue, USD Million, 2014 - 2025)
- Horizontal
- Vertical
- Directional
Pressure
Pumping Regional Outlook (Revenue, USD Million, 2014 - 2025)
- North America
- U.S.
- Canada
- Europe
- Russia
- U.K.
- Asia Pacific
- China
- Australia
- Latin America
- Brazil
- Argentina
- MEA
- U.A.E
- Algeria
About Grand View
Research
Grand View Research, Inc. is a U.S. based market
research and consulting company, registered in the State of California and
headquartered in San Francisco. The company provides syndicated research
reports, customized research reports, and consulting services. To help clients
make informed business decisions, we offer market intelligence studies ensuring
relevant and fact-based research across a range of industries, from technology
to chemicals, materials and healthcare.
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