About Hydraulic Fracturing & Services
Hydraulic fracturing is the process of injecting liquid and materials at high pressure to create small fractures within tight shale formations to stimulate production and safely extract energy from an underground well after the drilling has ended and the rig and derrick are removed from the site. Applications of hydraulic fracturing are water well production enhancement, block cave mining (Hydraulic pre-conditioning). Rock stress determination for geotechnical design (Mines, tunnels, dams, foundations), and Conventional oil and gas production. The government is introducing various measures and initiatives to promote market dynamics and competition, which facilitates opportunities for new players to enter the market. Growing usage and rising research and development in international oil and gas operations is driving market growth. Rising awareness regarding the potential of untapped energy reserves to foster market growth.
Attributes | Details |
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Study Period | 2018-2028 |
Base Year | 2022 |
Unit | Value (USD Million) |
Hydraulic fracturing Services is a competitive market due to the presence of a large number of established competitors. The key players are highly focused on developing and innovating new strategies to maintain their market position and customer base. The companies are also planning strategic activities like partnerships, collaboration, mergers, and acquisitions which will help them to sustain in the market and maintain their competitive edge. Established and emerging Manufacturers should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
NexTier Oilfield Solutions Inc. (United States), Cudd Energy Services (United States), ProPetro Holding Corp. (United States), Calfrac Well Services (Canada), Liberty Oilfield Services (United States), Trican Well Services Ltd. (Canada), Basic Energy Services (United States), Superior Energy Services (United States), RockPile Energy Services (United States) and Schlumberger Limited (United States) are some of the key players that are part of study coverage. Additionally, the Manufacturers which are also part of the research coverage are Calfrac Well Services Ltd (Canada) and Baker Hughes Co. (United States).
Segmentation Overview
AMA Research has segmented the market of Global Hydraulic Fracturing & Services market by Type (Horizontal, Vertical and Directional), Application (Oil and gas, Construction, Mining and Others) and Region.
On the basis of geography, the market of Hydraulic Fracturing & Services has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Category, the sub-segment i.e. Onshore will boost the Hydraulic Fracturing & Services market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Technology, the sub-segment i.e. Plug & Perf will boost the Hydraulic Fracturing & Services market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Increasing Shale Production and Innovations such as horizontal drilling and multi-stage hydraulic fracturing
Market Growth Drivers:
Increasing production of shale and exploration and Growing Demand for Oil and Gas
Challenges:
Environmental effects of the chemicals used in the process.
Restraints:
High water usage and environmental concerns associated with hydraulic fracturing
Opportunities:
Foams can offer many advantages over water-based fracturing methods.
Market Leaders and their expansionary development strategies
In December 2022, completed acquisition of Monarch Silica, LLC‘s Ford sand mining operations and entered into definitive agreements to acquire two businesses that will expand its pressure pumping footprint and sand mine portfolio.
In January 2021, the US Environmental Protection Agency (EPA) told the Texas Commission on Environmental Quality week that the state could take charge of the federal government’s responsibilities to regulate discharging of produced water if the water met certain toxicity standards. This is expected to push for cleaner hydraulic fracturing methods.
Key Target Audience
Hydraulic fracturing service provider companies, Market research and consulting firms, Government bodies such as regulating authorities and policy makers, Organizations, forums and alliances related to hydraulic fracturing, Research and Development Institutes, Customers, End User Industry and Others
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.