Global Hydraulic Fracturing Market

Global Hydraulic Fracturing Market Size, Share, Growth Analysis, By Well type(Horizontal, and vertical), By Technology(Plug & perf, sliding sleeve), By Application(Shale gas, tight gas) - Industry Forecast 2023-2030


Report ID: SQMIG20I2216 | Region: Global | Published Date: February, 2024
Pages: 157 | Tables: 89 | Figures: 76

Global Hydraulic Fracturing Market Insights

Hydraulic Fracturing Market size was valued at USD 34.1 billion in 2021 and is poised to grow from USD 36.69 billion in 2022 to USD 70.94 billion by 2030, growing at a CAGR of 7.6% in the forecast period (2023-2030).

Hydraulic fracturing is a technology in which fluids are injected at high rates into wells in order to break down oil reservoirs; this fluid consists of chemicals, water, and sand. Furthermore, it is commonly used in the production of oil and gas to enhance the productivity of oil and gas reservoirs in order to maintain the well sticky in nature, and fracturing fluids are employed in this technique to create a fracture of greater width. One of the major factors driving product demand is increase in offshore and onshore oil and gas exploration activities. It is widely used in the refurbishment of well base expansion, oil fields, and the exploration of new offshore projects for crude oil and natural gas extraction. Furthermore, rising energy demand in both developed and emerging economies is propelling the market over the forecasting years, resulting in increasing the hydraulic fracturing market share. The health effects of fracking chemicals, as well as stringent national government rules governing the use of hydraulic fracturing, may pose obstacles.

US Hydraulic Fracturing Market is poised to grow at a sustainable CAGR for the next forecast year.

Market snapshot - 2023-2030

Global Market Size

USD 34.1 billion

Largest Segment

Horizontal

Fastest Growth

Horizontal

Growth Rate

7.6% CAGR

Global Hydraulic Fracturing Market ($ Bn)
Country Share for North America Region (%)
Global Hydraulic Fracturing Market By Well Type ($ Bn)
Global Hydraulic Fracturing Market By Well Type (%)

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Global Hydraulic Fracturing Market Segmental Analysis

Hydraulic Fracturing Market is segmented based on the well type, technology, application, and region. Based on well type, global Hydraulic Fracturing Market is segmented into horizontal, and vertical. Based on technology, the global Hydraulic Fracturing Market is segmented into plug & perf, sliding sleeve. Based on application, the global Hydraulic Fracturing Market is segmented into shale gas, tight gas, tight oil, and others. Based on region, Hydraulic Fracturing Market is categorized into North America, Europe, Asia-Pacific, Latin America, and MEA.

Hydraulic Fracturing Market Analysis by well type

Based on well type, global hydraulic fracturing market size is segmented into horizontal, and vertical. The horizontal well is expected to lead the global market during the forecasting years owing to the high production of shale that requires hydraulic fracturing. It is also increasing the focus on enhancing the primary production and reducing the total number of wells to develop an entire oil field.

A vertical well is a drilling technique that involves drilling vertically into the ground to access an underground reserve of oil or natural gas. Drilling wells vertically is a more traditional method of oil extraction than directional drilling, which is more modern.

Hydraulic Fracturing Market Analysis by technology

Based on technology, the global hydraulic fracturing market is segmented into plug & perf, sliding sleeve. During the forecast period, plug and perf is expected to be the most dominant hydraulic fracturing technique, which is extensively used for hydrofracturing encased holes. It is also popular due to its ease of use and low cost. It provides excellent production performance while lowering production costs.

During the forecast period, the sliding sleeve segment is expected to expand moderately. It is still in the early stages of development, but it is seeing increased use in open-hole and naturally fractured formations. The sliding sleeves technique for fracking takes less time than plug and perf, which might result in lower costs.

Global Hydraulic Fracturing Market By Well Type , 2021 (%)

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Global Hydraulic Fracturing Market Regional Insights

Due to the presence of key countries such as Canada and the United States, North America is expected to dominate the global hydraulic fracturing market during the forecast period. Furthermore, high market penetration in these regions can be influenced by the availability of essential resources such as skilled labour, technology, and government assistance, as well as increased exploration and production activities in unconventional reserves.

Asia Pacific has enormous potential for industry growth during the forecast period. The existence of large technically recoverable shale and CMB reserves in China, Indonesia, and Australia, as well as heavy investment in the hydrocarbon sector through FDI channels in these countries, is expected to boost the market for leading companies to discover the opportunities that exist in these regional markets' unconventional hydrocarbon reserves.

Increasing investments in oil and gas projects may stimulate the growth of the Saudi Arabia hydraulic fracturing market over the forecast period, as investors invest in unconventional resource exploration and production, as well as encouraging service facilities and infrastructure projects.

Global Hydraulic Fracturing Market By Region, 2023-2030
  • Largest
  • Fastest

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Global Hydraulic Fracturing Market Dynamics

Hydraulic Fracturing Market Driver

  • According to the hydraulic fracturing market report, rapidly increasing demand for oil, gas, and other petroleum products, as well as the growing demand for advanced hydraulic equipment, particularly for exploration, will drive market growth, as it is helping to increase hydraulic fracturing market share throughout the forecast period.
  • Increasing E&P in unorthodox oil and gas reserves, particularly in shale basins, is expected to continue to be a key driver of market growth.

Hydraulic Fracturing Market Restraint 

  • Due to the potential environmental risk, multiple governments around the world and regulatory authorities such as the EPA and REACH are expected to impose stringent regulations and safety mandates, which is restricting market growth over the forecast period.

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Global Hydraulic Fracturing Market Competitive Landscape

Global hydraulic fracturing market is highly competitive and somewhat fragmented. To maintain a competitive edge, the major industry participants are continually implementing various growth strategies. Innovations, mergers, and acquisitions, collaborations and partnerships are adopted by these players to thrive in the competitive market. In order to provide industries with the most effective and economical solutions, the major market players are also continually concentrating on R&D.

Hydraulic Fracturing Market Top Player's Company Profiles  

  • Halliburton
  • Schlumberger
  • Baker Hughes
  • National Oilwell Varco
  • FTS International
  • RPC Inc.
  • Calfrac Well Services
  • Weatherford International
  • Liberty Oilfield Services
  • Trican Well Service
  • Keane Group
  • Patterson-UTI Energy
  • ProPetro Holding Corp
  • US Well Services
  • NexTier Oilfield Solutions
  • Basic Energy Services
  • Hi-Crush Inc.
  • CARBO Ceramics
  • Mammoth Energy Services
  • Nine Energy Service.

Hydraulic Fracturing Market Recent Developments

  • In June 2022, India’s ONGC launches tender for west coast well stimulation vessel (WSV).
  • In May 2022, SPM Oil & Gas, a provider of upstream pressure pumping and pressure control equipment and services, launched a system to improve the hydraulic fracturing process.

Global Hydraulic Fracturing Key Market Trends

  • Energy demand is increasing in developing countries such as India and China, and hydraulic fracturing will keep increasing and benefit these countries in order to meet this demand and boost growth. This in turn, increasing the market size globally.
  • The increase in shale gas exploration and development activities is boosting the market.
  • Increasing strategies adopted by various market participants, as well as increased product launches and contract agreements for expanding hydraulic fracturing service and equipment supply.

Global Hydraulic Fracturing Market SkyQuest Analysis

SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected utilizing Primary Exploratory Research backed by the robust Secondary Desk research.

According to our global hydraulic fracturing market analysis, the presence of a large youth population in Asia Pacific, as well as rising food demand and population growth, is favouring market growth in the region. The development of waterless and foam-based fracking technologies is acting as a growth factor. Furthermore, foam has a low liquid and high viscosity content, which aids in reducing and utilising the impact on the environment. However, due to the significant environmental risks associated with hydraulic fracturing, the process has been met with strong public opposition. The most serious issues concerning hydraulic fracturing are water usage, water contamination, and seismic activity. As a result of these environmental concerns, market growth in certain regions is expected to slow.

Report Metric Details
Market size value in 2021 USD 34.1 billion
Market size value in 2030 USD 70.94 billion
Growth Rate 7.6%
Base year 2021
Forecast period 2023-2030
Forecast Unit (Value) USD Billion
Segments covered
  • Well type
    • Horizontal, and vertical
  • Technology
    • Plug & perf, sliding sleeve
  • Application
    • Shale gas, tight gas, tight oil, and others
Regions covered North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA)
Companies covered
  • Halliburton
  • Schlumberger
  • Baker Hughes
  • National Oilwell Varco
  • FTS International
  • RPC Inc.
  • Calfrac Well Services
  • Weatherford International
  • Liberty Oilfield Services
  • Trican Well Service
  • Keane Group
  • Patterson-UTI Energy
  • ProPetro Holding Corp
  • US Well Services
  • NexTier Oilfield Solutions
  • Basic Energy Services
  • Hi-Crush Inc.
  • CARBO Ceramics
  • Mammoth Energy Services
  • Nine Energy Service.
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Table Of Content

Executive Summary

Market overview

  • Exhibit: Executive Summary – Chart on Market Overview
  • Exhibit: Executive Summary – Data Table on Market Overview
  • Exhibit: Executive Summary – Chart on Global Hydraulic Fracturing Market Characteristics
  • Exhibit: Executive Summary – Chart on Market by Geography
  • Exhibit: Executive Summary – Chart on Market Segmentation
  • Exhibit: Executive Summary – Chart on Incremental Growth
  • Exhibit: Executive Summary – Data Table on Incremental Growth
  • Exhibit: Executive Summary – Chart on Vendor Market Positioning

Parent Market Analysis

Market overview

Market size

  • Market Dynamics
    • Exhibit: Impact analysis of DROC, 2021
      • Drivers
      • Opportunities
      • Restraints
      • Challenges
  • SWOT Analysis

KEY MARKET INSIGHTS

  • Technology Analysis
    • (Exhibit: Data Table: Name of technology and details)
  • Pricing Analysis
    • (Exhibit: Data Table: Name of technology and pricing details)
  • Supply Chain Analysis
    • (Exhibit: Detailed Supply Chain Presentation)
  • Value Chain Analysis
    • (Exhibit: Detailed Value Chain Presentation)
  • Ecosystem Of the Market
    • Exhibit: Parent Market Ecosystem Market Analysis
    • Exhibit: Market Characteristics of Parent Market
  • IP Analysis
    • (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
  • Trade Analysis
    • (Exhibit: Data Table: Import and Export data details)
  • Startup Analysis
    • (Exhibit: Data Table: Emerging startups details)
  • Raw Material Analysis
    • (Exhibit: Data Table: Mapping of key raw materials)
  • Innovation Matrix
    • (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
  • Pipeline product Analysis
    • (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
  • Macroeconomic Indicators

COVID IMPACT

  • Introduction
  • Impact On Economy—scenario Assessment
    • Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
  • Revised Market Size
    • Exhibit: Data Table on Global Hydraulic Fracturing Market size and forecast 2021-2027 ($ million)
  • Impact Of COVID On Key Segments
    • Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
  • COVID Strategies By Company
    • Exhibit: Analysis on key strategies adopted by companies

MARKET DYNAMICS & OUTLOOK

  • Market Dynamics
    • Exhibit: Impact analysis of DROC, 2021
      • Drivers
      • Opportunities
      • Restraints
      • Challenges
  • Regulatory Landscape
    • Exhibit: Data Table on regulation from different region
  • SWOT Analysis
  • Porters Analysis
    • Competitive rivalry
      • Exhibit: Competitive rivalry Impact of key factors, 2021
    • Threat of substitute products
      • Exhibit: Threat of Substitute Products Impact of key factors, 2021
    • Bargaining power of buyers
      • Exhibit: buyers bargaining power Impact of key factors, 2021
    • Threat of new entrants
      • Exhibit: Threat of new entrants Impact of key factors, 2021
    • Bargaining power of suppliers
      • Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
  • Skyquest special insights on future disruptions
    • Political Impact
    • Economic impact
    • Social Impact
    • Technical Impact
    • Environmental Impact
    • Legal Impact

Market Size by Region

  • Chart on Market share by geography 2021-2027 (%)
  • Data Table on Market share by geography 2021-2027(%)
  • North America
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • USA
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Canada
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Europe
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • Germany
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Spain
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • France
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • UK
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of Europe
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Asia Pacific
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • China
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • India
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Japan
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • South Korea
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of Asia Pacific
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Latin America
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • Brazil
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of South America
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Middle East & Africa (MEA)
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • GCC Countries
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • South Africa
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of MEA
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)

KEY COMPANY PROFILES

  • Competitive Landscape
    • Total number of companies covered
      • Exhibit: companies covered in the report, 2021
    • Top companies market positioning
      • Exhibit: company positioning matrix, 2021
    • Top companies market Share
      • Exhibit: Pie chart analysis on company market share, 2021(%)

Methodology

For the Global Hydraulic Fracturing Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:

1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.

2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Hydraulic Fracturing Market.

3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.

4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.

Analyst Support

Customization Options

With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Global Hydraulic Fracturing Market:

Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.

Regional Analysis: Further analysis of the Global Hydraulic Fracturing Market for additional countries.

Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.

Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.

Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.

Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.

Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.

Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.

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FAQs

Hydraulic Fracturing Market size was valued at USD 34.1 billion in 2021 and is poised to grow from USD 36.69 billion in 2022 to USD 70.94 billion by 2030, growing at a CAGR of 7.6% in the forecast period (2023-2030).

Global hydraulic fracturing market is highly competitive and somewhat fragmented. To maintain a competitive edge, the major industry participants are continually implementing various growth strategies. Innovations, mergers, and acquisitions, collaborations and partnerships are adopted by these players to thrive in the competitive market. In order to provide industries with the most effective and economical solutions, the major market players are also continually concentrating on R&D. 'Halliburton', 'Schlumberger', 'Baker Hughes', 'National Oilwell Varco', 'FTS International', 'RPC Inc.', 'Calfrac Well Services', 'Weatherford International', 'Liberty Oilfield Services', 'Trican Well Service', 'Keane Group', 'Patterson-UTI Energy', 'ProPetro Holding Corp', 'US Well Services', 'NexTier Oilfield Solutions', 'Basic Energy Services', 'Hi-Crush Inc.', 'CARBO Ceramics', 'Mammoth Energy Services', 'Nine Energy Service.'

According to the hydraulic fracturing market report, rapidly increasing demand for oil, gas, and other petroleum products, as well as the growing demand for advanced hydraulic equipment, particularly for exploration, will drive market growth, as it is helping to increase hydraulic fracturing market share throughout the forecast period.

Energy demand is increasing in developing countries such as India and China, and hydraulic fracturing will keep increasing and benefit these countries in order to meet this demand and boost growth. This in turn, increasing the market size globally.

Due to the presence of key countries such as Canada and the United States, North America is expected to dominate the global hydraulic fracturing market during the forecast period. Furthermore, high market penetration in these regions can be influenced by the availability of essential resources such as skilled labour, technology, and government assistance, as well as increased exploration and production activities in unconventional reserves.

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