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Hydraulic Fracturing Market Outlook: High demand for crude oil to drive the global revenue between 2016-2024

Hydraulic Fracturing Market

In 2015, it has been estimated that Russia holds 665–680 tcf of unconventional reserve in Russian subsoil out of which 75% account for hydrates, 7% CBM, 3% account for shale gas and 15% for tight gas.

China hydraulic fracturing industry accounted for more than 45% of regional revenue share in 2015 and is projected to register tremendous growth over 2016-2024.

According to Global Market Insights, Inc., “Hydraulic Fracturing Industry is projected to exceed USD 68 billion by 2024, growing at a CAGR of more than 12% over 2016-2024.”
— Fractovia.Org

OCEAN VIEW, DELAWARE, UNITED STATES, March 8, 2017 /EINPresswire.com/ -- A paradigm shift toward the development of unconventional resources will fuel hydraulic fracturing market growth. Rapid industrialization, concerns over depleting conventional oil & gas blocks, strict government regulations, and urbanization will also stimulate worldwide industry size. According to Global Market Insights, Inc., “Hydraulic Fracturing Industry is projected to exceed USD 68 billion by 2024, growing at a CAGR of more than 12% over 2016-2024.”

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Based on the drilling methods, this market is segmented into horizontal and vertical wells. Vertical hydraulic fracturing market is set to witness a relatively moderate growth over the coming years. Horizontal hydraulic fracturing industry is slated to observe a CAGR of more than 13% over 2016-2024 and is more productive than its counterpart, due to a comparatively easy accessibility of natural gas.

Plug-and-perforation and siding sleeve are the two major hydraulic fracturing technologies. Siding sleeve technology is time-efficient and is used to obstruct flow from reservoir zones producing excess water. This technology finds applications in open hole wells and is expected to grow at a modest rate over 2016-2024. Plug-and-perforation hydraulic fracturing market contributed to more than 70% of the overall share in 2015 and will witness substantial gains, driven by its widespread applications in cased hole wells.

China hydraulic fracturing industry accounted for more than 45% of regional revenue share in 2015 and is projected to register tremendous growth over 2016-2024.

U.S. hydraulic fracturing market size was worth more than USD 12 billion in 2015 and is expected to exhibit significant growth in the years to come. Rising exploration activities coupled with technological advancements will catalyze industry growth.

Increasing number of investments in the oil & gas industry is a major factor fueling Saudi Arabia hydraulic fracturing market, which was worth more than USD 100 billion in 2015.

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Worldwide hydraulic fracturing industry size from shale gas is projected to exceed USD 15 billion by 2024, on account of the growing demand for natural gas from power plants. A strict regulatory framework and excellent fuel efficacy will fuel market growth over 2016-2024.

Crude oil applications accounted for approximately 14% of the overall industry share in 2015 and is anticipated to register healthy gains over 2016-2024. This growth may be primarily credited to the booming manufacturing and automotive sectors.

Notable market players include Halliburton, Calfrac Well Services, Trican Well Services, FTS International, Baker Hughes, Superior Energy Services, Schlumberger Ltd, Tacrom Services, and Weatherford International.
Browse key industry insights spread across 145 pages with 182 market data tables & 11 figures & charts from the report, “Hydraulic Fracturing Market Size By Well (Horizontal, Vertical), By Technology (Plug-And-Perforation, Sliding Sleeve), By Application (Crude Oil, Shale Gas, Tight Gas, Tight Oil) Industry Analysis Report, Regional Outlook (U.S., Canada, Mexico, UK, Russia, Norway, China, Brunei, Australia, Indonesia, Saudi Arabia, Iran, Oman, Argentina), Price Trends, Competitive Market Share & Forecast, 2016 – 2024” in detail along with the table of contents:

https://www.fractovia.org/news/industry-research-report/hydraulic-fracturing-market

Browse Related Report

• Oil And Gas Analytics Market Size By Deployment (On Premise, Hosted), By Service (Professional, Cloud, Integration), By Application (Upstream [Exploration and Drilling, Field Surveillance and Monitoring, Production Planning and Forecasting, Equipment Maintenance Management, Asset Performance, Workforce Management], Midstream [Pipeline SCADA, Fleet, Storage Optimization], Downstream [Commodity Trading, Demand Forecasting, Pricing, Refining]), Industry Analysis Report, Regional Outlook (U.S., Norway, U.K, France, Italy, China, India, Japan, South Korea, Indonesia, Saudi Arabia, Qatar, Nigeria, Angola, Brazil, Venezuela), Price Trends, Growth Potential, Competitive Market Share & Forecast, 2016 – 2024

https://www.fractovia.org/news/industry-research-report/oil-and-gas-analytics-market

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