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Composite Frac Plugs and Balls Market size will shoot up to US$ 2,837.1 million by 2024, as estimated by Stratview Research

10-25-2019 09:15 AM CET | Advertising, Media Consulting, Marketing Research

Press release from: Stratview Research

Composite Frac Plugs and Balls Market size will shoot up to US$

Stratview Research in its recent report has offered an overlook of the current Composite Frac Plugs and Balls Market scenarios and has also estimated the Composite Frac Plugs and Balls Market size to reach US$ 2,837.1 million by 2024. The insights highlighted in the report are based on data that is carefully collected from reliable sources and is then scrutinized to have a proper analysis.

Not only the report offers the market size but also details about the market segmentation with its share. Stratview Research also extends its research to offer a forecast of the market during the period of 2019 – 2024, to provide the clients with base knowledge of the market and make strategies to have beneficial results ahead.

Click here for a Free Sample of the report (additional insights inside):
https://www.stratviewresearch.com/Request-Sample/365/Composite-Frac-Plugs-and-Frac-Balls-Market.html

Plug-n-perf is the most common technique and accounts for more than 85% share of the hydraulic fracturing market in which composite frac plugs and balls are the most preferred choices. The global composite frac plugs and balls market size is likely to experience an excellent CAGR over the next five years to reach US$ 2,837.1 million in 2024. Rebounding crude oil prices; recovering rigs count, especially of North America; increasing share of hydraulically fractured oil & gas in the USA; increasing share of horizontal wells drilling in the USA; increasing average lateral length of wells; and increasing average number of frac stages are some of the major factors that are driving the demand for frac plugs and balls.

Hydraulic fracturing is considered to be the most promising technology for oil & gas production, where composite frac plugs and balls have a proven track record of more than three decades. The market for composite frac plugs and balls is highly dependent on the hydraulic fracturing activity which in turn, is dependent on the volatility of crude oil prices. Despite the short-term fluctuations in composite frac plugs and balls demand in North America caused by dropping new shale oil & gas activities that is a result of the decreasing crude oil prices, the long-term business outlook seems promising with good growth potential in the foreseen future.

Click here for description of the report:
https://www.stratviewresearch.com/365/Composite-Frac-Plugs-and-Frac-Balls-Market.html

The market is firstly bifurcated into frac plugs and frac balls. Both, composite frac plugs as well as balls, play a pivotal role in the plug-and-perf operation in the hydraulic fracturing. However, in terms of market size, frac plug dominates the total market and is expected to remain the larger and faster-growing segment of the market over the next five years, as composite frac plug is the highly-used technology in the plug-n-perf method, which optimizes the entire lifecycle of extraction of natural gas from run, set, test, hold, and mill.

Check out the Table of Contents here:
https://www.stratviewresearch.com/toc/365/Composite-Frac-Plugs-and-Frac-Balls-Market.html

Highlights of the Report:

As per Stratview Research, North America is expected to remain the largest as well as the fastest-growing market during the forecast period. The major players such as Haliburton, Schlumberger Limited, Downhole technology Ltd., Weatherford International, and Baker Hughes, are based in North America only. The USA is the growth engine of the North American as well as the global composite frac plugs and balls market and will continue to drive the region’s market over the next five years. It is estimated that hydraulic fracturing accounts for about 70% share of the new oil and natural gas wells drilled in the USA, where plug-n-perf is the most dominant method. This is assuring a huge demand for composite frac plugs and balls in the country.

The report also throws light on the Composite Frac Plugs & Balls Market share percentage, captured by specific key players in the industry; along with important mergers and acquisitions which have taken place till date.

Some of the key players mentioned the Composite Frac Plugs & Balls Market are Baker Hughes, Halliburton, Schlumberger, and Weatherford, whereas the key independent manufacturers are Magnum Oil Tools, Downhole Technology, and Team Oil Tools.

Features of the Report

This report offers high-quality insights and is the outcome of detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders and validation and triangulation with Stratview Research’s internal database and statistical tools.

The Composite Frac Plugs & Balls Market analysis report discusses the following heads in great detail:
• Market structure: Overview, industry life cycle analysis, supply chain analysis
• Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis
• Market trend and forecast analysis
• Market segment trend and forecast
• Competitive landscape and dynamics: Market share, product portfolio, product launches, etc.
• Attractive market segments and associated growth opportunities
• Emerging trends
• Strategic growth opportunities for the existing and new players
• Key success factors

Know more about us and our reports:
Stratview Research has been offering its insightful reports and custom researches to the interested clients in some of important industry sectors such as Advanced Materials, Aerospace & Defense, Automotive & Mass Transportation, Consumer Goods, Construction & Equipment, Electronics and Semiconductors, Energy & Utility, Healthcare & Life Sciences, and Oil & Gas. The data is collected for the reports is collected from reliable sources and is analysed carefully to come up with an end result that is resourceful and worthy for the interesting clients.

For inquiries, Contact:
Ritesh Gandecha
Stratview Research
E-mail: sales@stratviewresearch.com
Direct: +1-313-307-4176

400 Renaissance Center, Suite 2600, Detroit, Michigan, MI 48243 United States of America

About Stratview Research
Stratview Research is a trusted brand globally, providing high quality research and strategic insights that help companies worldwide in effective decision making.

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