Updated 2025 Market Reports Released: Trends, Forecasts to 2034 – Early Purchase Your Competitive Edge Today!
Hydraulic fracturing market size, hydraulic fracturing market share, hydraulic fracturing market trends, hydraulic fracturing market growth, hydraulic fracturing market outlook, hydraulic fracturing market forecast, hydraulic fracturing market opportunities, hydraulic fracturing market segments, hydraulic fracturing market analysis
What Does The Hydraulic Fracturing Global Market Size Entail for The Forecast Period?
The hydraulic fracturing market size has demonstrated vigorous growth in recent years, expected to grow from $40.69 billion in 2024 to $44.51 billion in 2025 at a compound annual growth rate (CAGR) of 9.4%. This growth during the historic period can be attributed to the increased demand for unconventional oil and gas resources, escalating energy prices, the crucial need for energy security, and the expansion of shale gas exploration and production.
Anticipated to witness substantial growth in the forthcoming years, the hydraulic fracturing market size is projected to expand to $60.35 billion in 2029 at a CAGR of 7.9%. The growth during the forecast period can be attributed to increasing global energy demand, ongoing exploration of unconventional reserves, amplified focus on environmental and regulatory compliance, the incorporation of data analytics in hydraulic fracturing operations, and the increasing use of recycled water in hydraulic fracturing operations. Major trends propelling the market during the forecast period include advances in hydraulic fracturing technologies, technological innovation in horizontal drilling, developments in hydraulic fracturing fluid technology, and escalating focus on the creation of eco-friendly hydraulic fracturing technologies.
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What Are The Drivers Of The Hydraulic Fracturing Market Growth?
The hydraulic fracturing market growth is stimulated by the soaring demand for oil and gas from offshore assets. The escalating global energy demand has prompted oil and gas operators to maximize the value of their existing assets through advanced methods such as hydraulic fracturing. This method enhances oil and gas recovery as production and exploration activities extend to more remote and harsher environments. For instance, in June 2023, the France-based International Energy Agency reported that the global oil demand is expected to rise by 6% between 2022 and 2028 to reach 105.7 million barrels per day, driven by robust demand from the petrochemical and aviation sectors. Consequently, the increase in demand for oil and gas from offshore assets is propelling the hydraulic fracturing market.
What Key Segments Does The Hydraulic Fracturing Market Hold?
The hydraulic fracturing market highlighted in this report is segmented as follows:
– By Technology: Plug And Perf, Sliding Sleeve
– By Fluid Type: Slick Water-based Fluid, Foam-based Fluid, Gelled Oil-based Fluid, Other Fluid Types
– By Well Type: Horizontal Well, Vertical well
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Which Companies Are Major Players In The Hydraulic Fracturing Market?
Prominent 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, and AFG Holdings Inc.
What Are The Current Trends In The Hydraulic Fracturing Market?
Technological advancements have emerged as a key trend propelling the hydraulic fracturing market. Companies in this industry are embracing advanced technologies such as automation, real-time tracking systems, live 3D visualization systems, which offer efficiency in hydraulic fracturing operations. For instance, in May 2022, SPM Oil & Gas introduced the SPM Simplified Frac Iron System, which aims to enhance the hydraulic fracturing process and address inefficiencies associated with traditional fracturing operations. It minimizes the physical footprint and the amount of iron required, thus elevating operational efficiency at the fracture site.
Which Regions Will Experience Rapid Growth In The Hydraulic Fracturing Market?
North America emerged as the largest region in the hydraulic fracturing market in 2024. However, Asia-Pacific is projected to be the fastest-growing region during the forecast period. The regions covered in this report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.
What Does The Hydraulic Fracturing Market Report 2025 Offer?
Hydraulic fracturing refers to the creation of fractures in an oil or gas-bearing rock formation by injecting high-pressure liquid into the wells. Once the wells are drilled, cased, and cemented, small perforations are made throughout the pipe by injecting a fluid mixture, consisting of 90% water, 9.5% sand, and 0.5% additives, to create micro-fractures. The Hydraulic Fracturing Market research report from The Business Research Company offers comprehensive data on the global market size, growth rate, regional shares, competitor analysis, detailed segments, trends, and opportunities.
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