Hydraulic Fracturing Market: 2019 Global Analysis By Size, Share, Growth Factors, Regional And Competitive Landscape Forecast To 2023
The hydraulic fracturing market is growing due to the abundance of unconventional reserves such as tight oil, shale gas, coal bed methane and others. The rising concern regarding the depletion of conventional oil and gas blocks along with the shift in focus towards development of the unconventional resource is expected to drive the demand of hydraulic fracturing market share. Besides the introduction of various government initiatives and the introduction of tax incentives, FDI provision and financial aids in the hydrocarbon sector are further expected to drive the demand of the market. However, the huge cost involved in the process of hydraulic fracturing is expected to hamper the growth of the market.
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The report has been analyzed based on the well types, technologies, applications and regions. Among all applications, crude oil is expected to contribute the maximum to the growth of the hydraulic fracturing market. The rise in number of maturity fields and the aging brown field is leading the operators to produce crude oil from unconventional resources. Shale gas is also expected to drive the growth of the hydraulic fracturing market. The increase in the demand of natural gas from power plant industries due to its better fuel efficiency is expected to favor the growth of the shale gas hydraulic fracturing industry during the forecast period. The stringent government rules and regulation for reduction of carbon emission is further expected to boost the demand of the market.
North America region is utilizing hydraulic fracturing on a very large scale due to presence of natural resources in huge quantities. A large number of wells in the region are stimulated by the use of hydraulic fracturing. Shale gas reserves in North America are attracting many huge companies as the gas is clean and green fuel compared to oil and coal. The successful evolution of shale gas reserves, has reduced the dependency of the region on foreign crude oil and natural gas, thereby leading to the growth of the market.
The key players of global hydraulic fracturing market are Halliburton Company (U.S.), Schlumberger Limited (France), Weatherford International (U.S.), United Oilfield Services, Inc (U.S.), Cudd Energy Services (Texas), Calfrac Well Services Ltd. (U.S.), Trican Well Services Ltd (U.S.), Tacrom Services S.R.L (Romania) and Superior Well Services, Inc. (U.S.) and others.
Scope of the Report
This research report provides the insights, on various levels of analysis such as industry analysis, market share analysis leading market players and their profiles. This report also helps in studying the target segments by providing views on emerging & high-growth segments and market conclusion. Together the market data comprise and discuss with the basic assessments on the competitive scenarios & strategies, of the global Hydraulic Fracturing Market, including the high-growth regions, countries and their political, economic and technological environments. Furthermore the project report also provides the views over the historical market values as well as, pricing and cost analysis of the same.
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