About Fracturing Equipment
Fracturing equipment is used to cause fracture into shale to improve oil or gas flow. It is used to extract oil & gas from surfaces where creating natural formation is difficult. Various fluids are used to cause formation into shale rocks which include water, detergents, carbon dioxide and other stimulating fluids. Fracturing equipment which are widely deployed in oil & gas industry are slurry blender to mix the fracking fluids, High-pressure & high-volume pumps such as triplex or quintuplex pumps, monitoring equipment, fluid tanks, proppant storage tanks and others. With increasing global energy demand fueled by population influx and urbanization, the demand for fracturing equipment will see significant rise amid environmental concern related to its use looming large.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
CAGR | 8.5% |
The majority of the players in this market are small-sized private players. The market is segmented and does not have any industry leader. Consumption of FOS Oligo-syrups is mostly from the western world so, expanding it is essential for industry players. Production of FOS Oligo-syrups is completely dependant on the raw material as that is what will determine the quality of the syrup. There are no major barriers to entry in this market for new entrants. Analyst at AMA Research estimates that United States Manufacturers will contribute the maximum growth to Global Fracturing Equipment market throughout the forecasted period. 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.
Oil States Energy Services (United States), Stuart Pressure Control (United States), CCSC Petroleum Equipment LTD CO. (China), Schlumberger Limited (United States), Expro Group (United Kingdom), Weir Group (United Kingdom), Yantai Jereh petroleum Equipment & Technologies Co., Ltd. (China), Weatherford International Inc. (United States), Halliburton (United States), Calfrac Well Services (Canada) and FTS International (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 Tacrom Services SRL (Romania), Trican Well Services Limited (Canada), Baker Hughes (United States), Patterson-UTI Energy Inc. (United States) and PangTong Wellhead USA Inc., (United States).
Segmentation Overview
AMA Research has segmented the market of Global Fracturing Equipment market by Type (Hydraulic and Pneumatic) and Region.
On the basis of Type, Hydraulic are dominating the market in the year 2023On the basis of geography, the market of Fracturing Equipment 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, Romania, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). North America region held largest market share in the year 2023. If we see Market by Well Type, the sub-segment i.e. Horizontal will boost the Fracturing Equipment market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Deployment Location, the sub-segment i.e. Onshore will boost the Fracturing Equipment market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Increasing Demand for Custom Designed Fracturing Equipment and Growing Automation Fueled by Incorporation of AI in Drilling Activities with an Aim to Improve Efficiency
Market Growth Drivers:
Rising Investment in Oil and Gas Industry to Ensure Energy Security and Growing Energy Consumption Lead to Rise in Natural Gas Exploration Activities
Challenges:
Social Issues Such as Local Public Opposition to Shale Activities and Health and Environmental Hazards Caused by Chemicals Used in Fracturing Activities
Restraints:
Environmental Concerns Associated with the Use of Fracturing Equipment
Opportunities:
Growing Demand for Environment Friendly Water-less Fracturing with the Help of Carbon Dioxide
Market Leaders and their expansionary development strategies
In December 2023, Calfrac Well Services Ltd. announces its 2024 capital program for continuing operations of approximately, subject to market conditions, as compared to approximately of planned capital. The year-over-year increase in the Company’s capital program is primarily due to an acceleration of its fracturing fleet modernization plan
In June 2023, Jereh unveiled its recently developed innovative technology at cippe, the Jereh 8000 HP electric fracturing unit and electric coiled tubing unit, with the theme of "low carbon tech, smart exploitation solution.
United States’ Environmental Protection Agency (EPA) in May 2012 issued draft guidance to obtain Underground Injection Control (UIC) hydraulic fracturing activities that use diesel fuels. The draft guidance was not approved by White House Office of Management and Budget (OMB) which led to EPA preparing a research report to find out the adverse impact of fracturing processes. EPA were successfully able to create the awareness which resulted in local bodies setting stern rule regarding fracturing activities with environment protection at fore.
Key Target Audience
Fracturing Equipment Manufacturers, Components Suppliers/Distributors, Oil and Gas Industries, Government Agencies, Research Institutes, Environment Protection Bodies, Potential Investors 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.