Global Hydraulic Fracturing Market Size, Share, Trends, Growth 2032

Hydraulic Fracturing Market Insights

Zion Market Research has published a report on the global Hydraulic Fracturing Market, estimating its value at USD 51.87 Billion in 2023, with projections indicating that it will reach USD 98.29 Billion by 2032. The market is expected to expand at a compound annual growth rate (CAGR) of 7.36% over the forecast period 2024-2032.

The report explores the factors fueling market growth, the hitches that could hamper this expansion, and the opportunities that may arise in the Hydraulic Fracturing industry. Additionally, it offers a detailed analysis of how these elements will affect market demand dynamics and market performance throughout the forecast period.

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Hydraulic Fracturing Market: Introduction

Hydraulic fracturing is a well-stimulation method that includes fracturing bedrock formations through liquid pressure. Furthermore, the process of hydraulic fracturing includes high-pressure injecting of fracking fluid into a good bore for producing cracks in deep rocks for deriving adequate flow of petroleum or natural gas. Apparently, the first commercial use of hydraulic fracturing commenced in 1950. For the record, till 2012, nearly 2.5 million fracturing tasks have been carried out on oil & gas wells across the globe with nearly 1 million tasks performed in the U.S. Reportedly, hydraulic fracturing had made the U.S. one of the key crude oil exporters in 2019.

Furthermore, hydraulic fracturing is a service provided by oilfield service firms for oil & natural gas firms. The process is also known as fracking which assists in producing oil & gas from reservoirs having low permeability. Apparently, hydraulic fracturing liquid composition experiences tremendous fluctuations and depends on geological features displayed during the formation of rocks.

Hydraulic Fracturing Market: Growth Dynamics

Escalating the need for oil, gas, and petroleum products in emerging economies are anticipated to prop up the growth of the hydraulic fracturing industry over the ensuing years. Moreover, massive demand for the supply of power in residential, commercial, transport, and power generation sectors will prompt business trends. Furthermore, changing trends towards the development of traditional reservoirs such as coal bed methane, shale, tight oil, and tight gas are projected to steer the expansion of the hydraulic fracturing industry over the forecast timespan.

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In addition to this, a reduction in oilfield service costs and a surge in the production of oil & gas will exponentiate the growth of the hydraulic fracturing industry in the years ahead. Nevertheless, oscillating oil prices and strict government rules monitoring hydraulic fracturing operations is likely to create hurdles for the market expansion over the years to come. However, the massive focus of the firms on increasing the output from the current oil & gas reserves will propel the business landscape in the foreseeable future.

Hydraulic Fracturing Market: Report Scope

North America To Make Laudable Contributions Towards Global Market Share By 2032

The growth of the market in the sub-continent over the forecast timespan is credited to the easy availability of advanced E & P techniques and skilled workforce in the countries like the U.S. and Canada. Apart from this, high investments made by the players for improving the process will further steer the regional market growth. In addition to this, large deposits of shale gas observed in the countries like the U.S. and new shale gas reservoir discoveries in the country will create lucrative growth avenues for the market in North America. Apart from this, large-scale presence of giant firms like Schlumberger and ExxonMobil in the countries like the U.S. will raise the market profitability in the ensuing years.

Hydraulic Fracturing Market: Competitive Space

Some key players operating in the global hydraulic fracturing market are

• Tacrom Services
• FTS International
• Schlumberger Limited
• Trican Well Services
• Baker Hughes Incorporated
• Calfrac Well Services
• Weatherford International
• Haliburton
• Superior Energy Services

The global hydraulic fracturing market is segmented as follows:

By Well

• Vertical
• Horizontal

By Technology

• Plug-And-Perforation
• Sliding Sleeve

By Application

• Crude Oil
• Shale Gas
• Tight Gas
• Tight Oil

By Region

• North America
  • The U.S.
  • Canada
• Europe
  • France
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of The Middle East & Africa