Global Pressure Pumping Market

Pressure Pumping Market Size, Share, Growth Analysis, By Well Type(Horizontal, Vertical), By Service Type(Hydraulic Fracturing, Cementing Services) - Industry Forecast 2024-2031


Report ID: SQMIG20I2070 | Region: Global | Published Date: February, 2024
Pages: 265 | Tables: 63 | Figures: 75

Pressure Pumping Market Insights

Pressure Pumping Market size was valued at USD 82.94 billion in 2019 and is poised to grow from USD 88.41 billion in 2023 to USD 147.42 billion by 2031, growing at a CAGR of 6.6% in the forecast period (2024-2031).

Increasing number of unconventional sources and waterless fracturing foams is expected to boost growth opportunities for the global pressure pumping market. In addition to this, the pressure pumping industry is largely fueled with the increasingly advanced technology and products in the developed countries.

The major application of pressure pumps is hydraulic fracturing and operations related to well-cementing. With the increasing number of exploration activities the global pressure pumping market is projected to grow at a good rate during the forecast period. The growing activities in the oil, gas, and mining industry are also likely to be a key factor for the growth of the pressure pumping market. In January 2021, Liberty Oilfield Services Inc., and Schlumberger’s onshore hydraulic fracturing business in the US and Canada. As a part of the merger, Schlumberger will retain an equity interest of 37% in the North American Oilfield Company.

New oil reserve discoveries increase the drilling and exploration activities in the coming years. For instance, In Liberia, Exxon Mobil Corporation is planning to start oil drilling by 2031. Increasing demand for energy across the globe has resulted in the rapid increase in the drilling activities, which ultimately has provided a significant boost to the global pressure pumping market.

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

Market snapshot - 2024-2031

Global Market Size

USD 82.94 billion

Largest Segment

horizontal

Fastest Growth

horizontal

Growth Rate

6.6% CAGR

Global Pressure Pumping Market ($ Bn)
Country Share for North America Region (%)
Global Pressure Pumping Market By Type ($ Bn)
Global Pressure Pumping Market By Type (%)

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Pressure Pumping Market Segmental Analysis

Global pressure pumping market is segmented on the basis of well type and service type. Based on well type, the market is sub-segmented into horizontal, vertical, and directional. Based on service type, the market is sub-segmented into hydraulic fracturing, cementing services and other services.

Pressure Pumping Market Analysis by Well Type

Based on well type, the market is segmented into horizontal, vertical, and directional. In which, the global pressure pumping market is dominated by horizontal wells, which accounted for about 80% of total value in 2021. As per our findings, in 2004, the horizontal wells accounted for about 15% of U.S. crude oil production in the form of tight oil formations. By the end of 2018, this percentage had increased to about 96%. Similarly, horizontal wells made up about 14% of U.S. natural gas production in shale formations in 2004 and increased to about 97% in 2018. Increasing productivity, technical developments and the advantages that come under a horizontal well are the factors expected to drive the market’s growth in the coming years.

Pressure Pumping Market Analysis by Service Type

Based on service type, the market is segmented into hydraulic fracturing, cementing services, and other services. And, hydraulic fracturing dominated the global pressure pumping market in 2021, accounting for around 76% of the total revenue. North America is likely to be the main region for the demand of hydraulic fracturing in the next few years. In the U.S., the production of tight oil and gas is expected to increase to more than 6 million barrels per day. Cementing segment is expected to register a high revenue CAGR over the forecast period due to the increasing number of drilling activities across the globe.

Global Pressure Pumping Market By Type, 2023 (%)

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Pressure Pumping Market Regional Insights

Globally, North-America dominated the pressure pumping market in 2021 and is expected to maintain its dominance throughout the forecast period. Presence of industries like mature oil fields and robust oilfield services in the Canada and United States are considered as key factors for the growth of market in the region. Rising investments in oil and gas infrastructure on a large scale across the region push the market’s growth.

After North-America, Asia-Pacific is the major region who has the opportunity to hold the pressure pumping market owing to their increased energy demand, high adoption for wells and hydraulic fracturing.

The market in Europe is still in its developmental phase and has witnessed several setbacks due to the moratoriums and bans by several governments as well as non-governmental regulatory bodies in the last few years. For instance, France has completely banned hydraulic fracturing in the country and the German government has passed several acts and amendments to control hydraulic fracturing.

Global Pressure Pumping Market By Region, 2024-2031
  • Largest
  • Fastest

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Pressure Pumping Market Dynamics

Pressure Pumping Market Drivers

Increasing Industrialization and Developing Interest to Boost Market Growth

  • The quick development of energy interest because of industrialization combined with the developing population is an excellent driver for the rising global pressure pumping market. Pressure pumping gadgets has been started utilizing widely in increasing oil supplies where oil extraction is generally troublesome.
  • Developing energy utilization and expanding interests for the extraction are likely to be key variables driving the development of the global pressure pumping market. In addition, the market also throws many various opportunities with regard to the development of waterless fracking with the help of foams which provides an alternative of water in pressure pumping procedures.

Pressure Pumping Market Restraints

High Installation Costs and Environmental Concerns to Hinder Market Growth

  • The high establishment cost of the pressure pumping system is a big obstacle to this market. And, environmental hazards caused by hydraulic fracturing is another key factor to restrain the market growth. Rising concerns and hazards related to water contamination owing to hydraulic fracturing fluids or wastewater can have negative impacts on health and this is a major factor which is likely to hinder the market during the forecast period. Other factors such as risk of earthquakes, air emissions, increasing consumption of water, and many adverse effects on human health are projected to slow down the demand of the pressure pumping system in the coming years.

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Pressure Pumping Market Competitive Landscape

The global pressure pumping market is fragmented due to the presence of many well-established players such as Trican, Sanjel Corporation, RPC Inc. These players are continuously increasing investments in research and developments activities to give expansion to their business. For instance, Michigan Sugar Company, a sugar processing company, plans to invest USD 65 million in expanding its processing facility in Monitor Township, Michigan. Several key players are adopting approaches such as commercialization of their products, several types of promotion initiatives and increased collaboration.

Pressure Pumping Market Top Players Company Profiles

  • Schlumberger
  • Halliburton
  • Baker Hughes
  • Weatherford International
  • National Oilwell Varco
  • C&J Energy Services
  • Calfrac Well Services
  • FTS International
  • Keane Group
  • Liberty Oilfield Services
  • NexTier Oilfield Solutions
  • Patterson-UTI Energy
  • ProPetro Holding Corp.
  • RPC Inc.
  • Sanjel Energy Services
  • Superior Energy Services
  • Trican Well Service
  • Basic Energy Services
  • Mammoth Energy Services
  • Nine Energy Service

Pressure Pumping Market Recent Developments

  • In May 2022, The Water Supply Department of Kolkata Municipal Corporation plans to float a tender soon to construct a new and boosting pressure pumping station at Marcus Square near college street in North Kolkata. This will help to replace the existing one at Mohammad Ali Park.
  • In April 2022, U.S. oil futures climbed to multi-year highs and traded close to USD 105 a barrel on Thursday. According to Baker Hughes, the price jump has supported an increase in demand for oilfield services and equipment related to that, with the U.S. rig count climbing to 695 in the week to April 2022 from 438 a year ago.

Pressure Pumping Key Market Trends

  • Growing implementation of hydraulic fracturing services to empower the production of oil and natural gas with low permeability and restricted flow of hydrocarbons is likely to offer significant growth opportunities to the market. In hydraulic fracturing, coiled tubing, cementing, and other well stimulation services along with low cost and low-carbon strategy increases the demand.
  • Major providers of pressure pumping services along with other equipment associated with this and the oil and natural gas industries undertake R&D activities for innovation and to enhance the process of hydraulic fracturing. According to our findings, the shale gas production in the United States stood at around 26,139 billion cubic feet in 2020, an uptrend of around 70% in the last five years.

Pressure Pumping Market SkyQuest Analysis

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

According to our global pressure pumping market analysis, the market is projected to have a significant growth over the forecast period owing to their increasing number of unconventional sources, waterless fracturing, and advanced technology. In addition, growing industrialization, energy utilization, and developing interests for extraction are likely to be the major driving factors of the market in the coming years.

For instance, Tyson Foods, which plans to spend USD 300 million to build a 325,000 square foot processing facility in Danville, VA whose completion is set for spring 2023. Furthermore, drawbacks associated with pressure pumping such as environmental concerns and high installation cost will hinder the growth of the market during the forecast period.

What’s Included

NA

Report Metric Details
Market size value in 2023 USD 82.94 billion
Market size value in 2031 USD 147.42 billion
Growth Rate 6.6%
Forecast period 2024-2031
Forecast Unit (Value) USD Billion
Segments covered
  • Well Type
    • Horizontal, Vertical, Directional
  • Service Type
    • Hydraulic Fracturing, Cementing Services, and other services
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
  • Schlumberger
  • Halliburton
  • Baker Hughes
  • Weatherford International
  • National Oilwell Varco
  • C&J Energy Services
  • Calfrac Well Services
  • FTS International
  • Keane Group
  • Liberty Oilfield Services
  • NexTier Oilfield Solutions
  • Patterson-UTI Energy
  • ProPetro Holding Corp.
  • RPC Inc.
  • Sanjel Energy Services
  • Superior Energy Services
  • Trican Well Service
  • Basic Energy Services
  • Mammoth Energy Services
  • Nine Energy Service
Customization scope

Free report customization with purchase. Customization includes:-

  • Segments by type, application, etc
  • Company profile
  • Market dynamics & outlook
  • Region

Historical Year 2019

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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 Pressure Pumping 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 Pressure Pumping 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 Pressure Pumping 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 Pressure Pumping 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 Pressure Pumping Market:

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

Regional Analysis: Further analysis of the Pressure Pumping 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

Pressure Pumping Market size was valued at USD 82.94 billion in 2019 and is poised to grow from USD 88.41 billion in 2023 to USD 147.42 billion by 2031, growing at a CAGR of 6.6% in the forecast period (2024-2031).

The pressure pumping market is fragmented due to the presence of many well-established players such as Trican, Sanjel Corporation, RPC Inc. These players are continuously increasing investments in research and developments activities to give expansion to their business. For instance, Michigan Sugar Company, a sugar processing company, plans to invest USD 65 million in expanding its processing facility in Monitor Township, Michigan. Several key players are adopting approaches such as commercialization of their products, several types of promotion initiatives and increased collaboration. 'Schlumberger', 'Halliburton', 'Baker Hughes', 'Weatherford International', 'National Oilwell Varco', 'C&J Energy Services', 'Calfrac Well Services', 'FTS International', 'Keane Group', 'Liberty Oilfield Services', 'NexTier Oilfield Solutions', 'Patterson-UTI Energy', 'ProPetro Holding Corp.', 'RPC Inc.', 'Sanjel Energy Services', 'Superior Energy Services', 'Trican Well Service', 'Basic Energy Services', 'Mammoth Energy Services', 'Nine Energy Service'

The quick development of energy interest because of industrialization combined with the developing population is an excellent driver for the rising pressure pumping market. Pressure pumping gadgets has been started utilizing widely in increasing oil supplies where oil extraction is generally troublesome.

Growing implementation of hydraulic fracturing services to empower the production of oil and natural gas with low permeability and restricted flow of hydrocarbons is likely to offer significant growth opportunities to the market. In hydraulic fracturing, coiled tubing, cementing, and other well stimulation services along with low cost and low-carbon strategy increases the demand.

Globally, North-America dominated the pressure pumping market in 2021 and is expected to maintain its dominance throughout the forecast period. Presence of industries like mature oil fields and robust oilfield services in the Canada and United States are considered as key factors for the growth of market in the region. Rising investments in oil and gas infrastructure on a large scale across the region push the market’s growth.

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Global Pressure Pumping Market

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