Press release
Pressure Pumping Market Expert Research on Current Market Scenario, Size ,Growth Rate | Industry New Tech Developments Report Forecast to 2027
Significant depletion of matured oil fields has forced Oil companies to shift their focus towards drilling activities. Pressure pumping being an essential part of pumping oil from matured oil fields and increased drilling activities to pump oil from unconventional onshore fields is leading to a significant increase in the demand in the pressure pumping market. With the further depletion of oil fields the market for pressure pumping is going to witness further growth due to increasing complexity of pumping oil from shallow oil fields.
According to a recent study report published by the Market Research Future, The global market of Pressure Pumping is booming and expected to gain prominence over the forecast period. The global Pressure Pumping market is forecasted to demonstrate an exponential growth by 2027, surpassing its previous growth records in terms of value with a whooping, CAGR during the estimated period (2018 – 2027).
Industry Key Players:-
• Weatherford International
• China Oilfield Services Ltd.
• Halliburton Company
• Saipem S.p.A.
• Schlumberger Limited
• Baker Hughes
• Superior Energy Services
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Pressure Pumping Market - Segmentation:-
Global Pressure Pumping Market is segmented in to three key dynamics for an easy grasp and enhanced understanding.
Based on services, the market has been segmented into cementing, hydraulics fracturing, and others. Hydraulics fracturing dominates the service segment of global market. Hydraulics fracturing is a process of pumping fluid into a wellbore to create enough pressure to crack, or fracture, the rock layer. The fluid usually contains a proppant like sand, that helps keep the fractures open to allow oil and gas to be produced to the well. Cementing services is the second major segment for pressure pumping market and it is expected to witness strong growth over the forecast period.
Based on well type, the market has been segmented land and offshore. Onshore dominates the well type segment of global market. Offshore segment is expected to be the fastest growing segment during the forecast period. Increasing the exploration activities in deep and ultra-deep waters especially in the North Sea, and Gulf of Mexico is expected to drive demand in the sector over the forecast period.
Segmentation by Regions: Comprises Geographical regions - North America, Europe, Asia Pacific, Middle East & Africa and South America.
Industry News:-
In January 2016, Trican Well Service Ltd announce that it has entered into a definitive agreement with Keane Group, a privately-held, U.S. based well completion services company for the sale of Trican's United States pressure pumping business. The agreed purchase price for the disposition is USD 200 million, or CDN 285 million.
In March 2017, Trican and Canyon to combine to create premier canadian pressure pumping company
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Regional Analysis of Pressure Pumping Market:-
North America is the leading region in this market mainly due to large number of major contractors and Companies in this region. North America is poised to growth at a significant pace with the existing competition in the market and heavy investments in R&D for technological development.
MRFR team have supreme objective to provide the optimum quality market research and intelligence services to our clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help to answer all their most important questions.
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Market Research Future
+1 646 845 9312
Email: sales@marketresearchfuture.com
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