The Business Research Company’s report on the Hydraulic Fracturing Market provides insights into the global market size, growth rate, regional distribution, competitive landscape, key segments, emerging trends, and strategic opportunities.
Which emerging drivers are set to accelerate the growth of the hydraulic fracturing market further?
Rising demand for oil and gas from offshore assets is driving the growth of the hydraulic fracturing market. The rising demand for energy worldwide has led oil and gas operators to maximize the value of their existing assets by using more advanced methods such as hydraulic fracturing for oil and gas recovery while extending production and exploration activities to remote and harsher environments. For instance, in June 2023, the International Energy Agency, a France-based intergovernmental economic organization, reported that global oil demand will rise by 6% between 2022 and 2028 to reach 105.7 million barrels per day (mb/d), supported by robust demand from the petrochemical and aviation sectors. Therefore, rising demand for oil and gas from offshore assets drives the hydraulic fracturing market.
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What are the key factors influencing the forecasted market size of the hydraulic fracturing industry?
The hydraulic fracturing market size has grown strongly in recent years. It will grow from $40.69 billion in 2024 to $44.51 billion in 2025 at a compound annual growth rate (CAGR) of 9.4%. The growth in the historic period can be attributed to increased demand for unconventional oil and gas resources, rising energy prices andThe need for energy security, expansion of shale gas exploration and production.
The hydraulic fracturing market size is expected to see strong growth in the next few years. It will grow to $60.35 billion in 2029 at a compound annual growth rate (CAGR) of 7.9%. The growth in the forecast period can be attributed to growing global energy demand, continued exploration of unconventional reserves, enhanced focus on environmental and regulatory compliance, integration of data analytics in hydraulic fracturing operations, increasing use of recycled water in hydraulic fracturing operations. Major trends in the forecast period include advancements in hydraulic fracturing technologies, technological innovations in horizontal drilling, advances in hydraulic fracturing fluid technology, increasing focus on the development of eco-friendly hydraulic fracturing technologies.
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Who are the leading competitors in the hydraulic fracturing market?
Major companies operating in the hydraulic fracturing market include Halliburton Company, Schlumberger Limited, Baker Hughes Company, NexTier Oilfield Solutions Inc., Calfrac Well Services Ltd., Liberty Oilfield Services LLC, Weatherford International plc, ProPetro Holding Corp., Evolution Well Services LLC, RPC Inc., PJSC Rosneft Oil Company, Trican Well Service Ltd., US Well Services Inc., Cudd Energy Services, Enerplus Corporation, Frac Shack Inc., Nine Energy Service Inc., Patterson-UTI Energy Inc., ProFrac Services LLC, Pro-Stim Services LLC, Sanjel Energy Services, STEP Energy Services Ltd., Tacrom Services SA, AFG Holdings Inc.
Which emerging trends are set to transform the hydraulic fracturing market landscape?
Technological advancement is a key trend gaining popularity in the hydraulic fracturing market. The companies operating in hydraulic fracturing are adopting advanced technologies such as automation, real-time tracking systems, live 3D visualization systems, and other technologies, as they offer efficiency in hydraulic fracturing operations with automated controls and better visibility. For instance, in May 2022, SPM Oil & Gas, a US-based company that provides upstream pressure pumping and pressure control equipment and services, has recently introduced the SPM Simplified Frac Iron System. This innovative system aims to enhance the hydraulic fracturing process, addressing inefficiencies associated with traditional frac operations. The new system minimizes the physical footprint and quantity of iron required for fracturing operations, which increases overall operational efficiency at the frac site .
How do different geographies compare in terms of market share and growth potential in the hydraulic fracturing market?
North America was the largest region in the hydraulic fracturing market in 2024.Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the hydraulic fracturing market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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Which major segments of the hydraulic fracturing market are experiencing the fastest growth?
The hydraulic fracturing market covered in this report is segmented –
1) By Technology: Plug And Perf, Sliding Sleeve
2) By Fluid Type: Slick Water-based Fluid, Foam-based Fluid, Gelled Oil-based Fluid, Other Fluid Types
3) By Well Type: Horizontal Well, Vertical well
Subsegments:
1) By Plug And Perf: Single Plug And Perf, Multi-Stage Plug And Perf
2) By Sliding Sleeve: One-Trip Sliding Sleeve, Multi-Stage Sliding Sleeve
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How is the hydraulic fracturing market defined, and what are its core characteristics?
Hydraulic fracturing refers to the process of creating fractures in an oil or gas-bearing rock formation by injecting a high-pressure liquid into the wells. In the process, once the wells are drilled, cased, and cemented, small perforations are made throughout the pipe by injecting a fluid mixture, which consists of 90% water, 9.5% sand, and 0. 5% additives to create microfractures.
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