|12-06-2018 09:14 PM CET - Energy & Environment||
Global Pressure Pumping Market Analysis, Key Growth Drivers, Challenges, Leading Key Players Review, Demand and Upcoming Trend by Forecast to 2027
Press release from: Market Research Future - MRFR
Pressure pumping is a propagation of fractures through layers of rock using pressurized fracturing fluid and pumping the cement into the well bore to complete it. It is primarily used to extract resources from low permeability reservoirs such as shale gas, and unconventional liquids, which are difficult to recover through regular drilling procedures.
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 (2017 – 2027).
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New oil reserve discoveries increase the drilling and exploration activities in coming years which upsurge the demand for the market. For example, in Liberia, Exxon Mobile Corporation is planning to start oil drilling in its recently found oil reserves by 2018. Moreover, global increasing demand for energy cross the globe has resulted in rapid increase in the offshore drilling activities to meet the increasing demand, which ultimately has provided significant boost to the Pressure Pumping market.
However, stringent government regulation as well as high installation cost of pressure pumping systems are the factors may hinder the market growth of the market.
Market Synopsis of Pressure Pumping
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.
Hence the market for Pressure pumping is expected to grow at XX% CAGR (2016-2027).
The Pressure pumping market has been segmented on the basis of Well Type as Land and Offshore. On the basis of Services the market has been segmented as cementing, hydraulics and fracturing.
• Pressure pumping Contractors
• Pressure pumping Suppliers
• Research and Development (R&D) Companies
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.
Some of the key players in the Pressure Pumping market are Weatherford International, China Oilfield Services Ltd., Halliburton Company, Saipem S.p.A., Schlumberger Limited, Baker Hughes and Superior Energy Services
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The report for Pressure Pumping Market of Market Research Future comprises of extensive primary research along with the detailed analysis of qualitative as well as quantitative aspects by various industry experts, key opinion leaders to gain the deeper insight of the market and industry performance. The report gives the clear picture of current market scenario which includes historical and projected market size in terms of value and volume, technological advancement, macro economical and governing factors in the market. The report provides details information and strategies of the top key players in the industry. The report also gives a broad study of the different market segments and regions.
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This release was published on openPR.
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