The Report Hydraulic Fracturing Market Analysis By Technology (Plug & Perf,
Sliding Sleeve), Material (Proppant (Sand, Ceramic, Resin Coated Sand)),
Application (Shale Gas, Tight Gas, Tight Oil, Coal Bed Methane (CBM)) And
Segment Forecasts To 2024
The global hydraulic fracturing market is expected
to reach USD 81.10 billion by 2024, according to a new report by Grand View
Research, Inc. Growing E&P companies’ concern towards declining production
rates in conventional hydrocarbon reserves along with shifting focus towards
developing unconventional oil & gas blocks globally is anticipated to drive
the market growth.
Favorable initiatives by
the U.S. and Chinese government in the form of financial aids, tax incentives
and easy provision of FDI in the hydrocarbon sector are estimated to steer the
industry expansion over the next few years. Several bans, moratoriums and pubic
concerns regarding environmental impacts of the technology particularly in
counties including France, Tunisia, Bulgaria, Romania, and South Africa are
expected to remain key challenges for the industry participants over the
forecast period.
Plug & perf
technology dominated the global hydraulic fracturing market accounting for over
80% of the total revenue in 2015. The technique enables multistage fracking in
cased holes and is widely used in tight oil and shale completions particularly
in the U.S.
Access Research Report of Hydraulic
Fracturing Market @ www.grandviewresearch.com/industry-analysis/hydraulic-fracturing-market
Further key findings from the report suggest:
· Proppants emerged as the largest fracturing
materials with net revenue expected to exceed USD 14.0 billion by 2024. Ceramic
proppants are anticipated to grow at an estimated CAGR of 7.6% from 2016 to
2024.
· Shale gas dominated the global demand and
accounted for 30.2% of the total hydraulic fracturing revenue in 2015. The
emergence of the shale boom in the U.S. along with increasing acreage of shale
basins globally particularly in China and Canada is expected to drive market
growth in the segment. The U.S. hydraulic fracturing demand in tight gas
formations was valued at USD 6.01 billion in 2015 and is expected to grow at a
CAGR of 8.7% from 2016 to 2024.
· North America hydrofracking industry
dominated the global demand and is anticipated to remain the largest regional
market over the forecast period. The regional market is anticipated to witness
moderate growth over the next eight years to exceed a net worth of USD 65.0
billion by 2024.
· Asia Pacific is anticipated to witness the
fastest growth over the forecast period owing to large available technically
recoverable unconventional oil & gas reserves and increasing FDI flow in
the hydrocarbon sector in China, India, and Australia. The region accounted for
6.6% of the global revenue in 2015 and is expected to grow at a CAGR of 12.1%
over the next eight years.
· The global hydraulic fracturing market was
dominated by major oilfield services companies including Baker Hughes,
Schlumberger, Halliburton, Weatherford, Calfrac Well Services, Cudd Energy and
FTS International.
Grand View Research has
segmented the hydraulic fracturing market on the basis of technology, material,
application and region:
Global Hydraulic Fracturing Technology Outlook (Revenue,
USD Million, 2014 - 2024)
·
Plug & Perf
·
Sliding Sleeve
Global Hydraulic Fracturing Material Outlook (Revenue,
USD Million, 2014 - 2024)
·
Proppant
·
Others
Global Hydraulic Fracturing Application Outlook (Revenue,
USD Million, 2014 - 2024)
·
Shale Gas
·
Tight Gas
·
Tight Oil
·
CBM
·
Others
Global Hydraulic Fracturing Regional Outlook (Revenue,
USD Million, 2014 - 2024)
·
North America
·
Europe
·
Asia Pacific
·
Middle East & Africa
·
Central & South America
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.