The global Pressure Pumping Market size is expected to reach
USD 75.1 billion by 2025, according to a new report by Grand View Research,
Inc., progressing at a CAGR of 4.1% during the forecast period. Rising
exploration & production (E&P) in unconventional oil & gas reserves
including shale basins is estimated to spur the growth of the market.
Increasing prominence of unconventional reserves including
coalbed methane (CBM), shale, tight oil, and tight gas is likely to drive the
market over the next few years. Advancements in extraction techniques are also
helping E&P companies in increasing the yield in scanty profit regions such
as the Arctic region and ultra-deep seas.
Governments of countries that support natural gas E&P
from conventional (oil, gas, and coal), as well as unconventional sources
(shale, CBM, and tight gas) are undertaking several regulatory initiatives to
promote hydraulic fracturing. This is leading to upsurge in use of hydraulic
fracturing for the development of unconventional sources.
Stable prices in 2017 and an upswing in upstream oil &
gas investments are likely to augment the demand for pressure pumping
operations over the forecast period. Number of coil tubing rigs in the U.S.
registered an increase of nearly 3.3% from 2016 to 2017. Thus, stable oil
prices, coupled with increasing number of the coiled tubing units, are expected
to stoke the growth of the market over the forecast period
Pressure pumping of oil and gas formations may lead to
groundwater contamination, migration of gases and fracking chemicals to
surface, and contamination of surrounding air. In addition, oil obtained
through pressure pumping includes chemicals used in fracking, which may
increase corrosion rate in rail tank cars and pipelines. Thus, environment
related concerns with the product are likely to hamper growth prospects.
Moratoriums and bans on hydraulic fracturing from regional
agencies in France, Romania, Tunisia, Bulgaria, etc. are also expected to
remain a major challenge for the industry. Soaring need for fossil fuels in
electricity generation and transportation, however, is expected to propel the
market.
Browse Details of Report @
https://www.grandviewresearch.com/industry-analysis/pressure-pumping-market
https://www.grandviewresearch.com/industry-analysis/pressure-pumping-market
Further Key Findings from the Report Suggest:
- In
terms of revenue, hydraulic fracturing is anticipated to reach USD 58.3
billion by 2025 at a CAGR of 4.3% from 2017 to 2025. The U.S. shale gas
boom is likely to be a key factor behind the growing prominence of
hydraulic fracturing
- In
terms of revenue, the cementing segment is projected to register a CAGR of
3.9% over the forecast period. Increasing number of drilled but
uncompleted wells is anticipated to restrain the growth of the segment
over the forecast period
- Horizontal
well type dominated the global market with a share of 82.4% in 2016. The
distinct benefits of horizontal wells in terms of providing enhanced
productivity are likely to influence the growth of the segment positively
in the coming years
- The
North America pressure pumping market is anticipated to exceed USD 47.8
billion by 2025. Flourishing upstream oil and gas sector in the region is
likely to drive the regional market over the forecast period
- Asia
Pacific is projected to witness a remarkable CAGR of 5.5% over the
forecast period, with China and Australia being the key revenue
contributors in the region.
- Some
of the key companies in the industry are Baker Hughes; Schlumberger
Limited; Halliburton; C&J Energy Services, Inc.; Calfrac Energy
Services Ltd.; Trican; and Superior Energy Services, Inc.
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, the company offers market intelligence studies ensuring relevant and fact-based research across a range of industries including technology, chemicals, materials, healthcare and energy.
Contact:
Sherry James
Corporate Sales Specialist, USA
Grand View Research, Inc
Phone: 1-415- 349-0058
Toll Free: 1-888- 202-9519
Email: sales@grandviewresearch.com
For More Information: https://www.grandviewresearch.com
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