Press release
Pressure Pumping Market | Halliburton, RPC, Inc., Baker Hughes, Calfrac Well Services Ltd, Schlumberger
Pressure Pumping Market
The increasing energy requirements, availability of advanced technology and increasing investments in unconventional and offshore exploration are expected to drive the pressure pumping market in North America. The growing concern about the environmental damage caused by pressure pumping such as seismic activities and water contamination are the major factors hindering the growth of pressure pumping market.
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North America Pressure Pumping -Market Taxonomy
On the basis of well type, the North America pressure pumping market is segmented into
Vertical Wells
Horizontal Wells
On the basis of service type, the North America pressure pumping market is segmented into
Cementing Services
Remedial cementing
Primary cementing
Hydraulic fracturing
Others
On the basis of resources type, the North America pressure pumping market is segmented into
Unconventional
Conventional
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The pressure drilling market is largest in U.S., due to rising shale gas plays and increasing oil and gas exploration. According to Annual Energy Outlook 2017, published by U.S. Energy Information Administration, the natural gas production may account for 40% of U.S. energy production by 2040, which will augment pressure pumping market. However, the increasing environmental concerns will restrain the growth of pressure pumping market in U.S.
The oil and gas industry in Canada has a lucrative growth, due to increased exploration, drilling, production, refining activities. Furthermore, advancement in science and technology, availability of experienced financing institutes for oil and gas sector, abundant resources, and proficiency in remote location operation are factors fueling the growth of oil and gas industry which, in turn, is propelling pressure pumping market growth in Canada. According to Natural Resources Canada, oil sands production is estimated to double to 3 mb/d by 2020, while production of crude oil from oil sands will exceed 4.5mb/d by 2025. This will augment the demand for pressure pumping in Canada.
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