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Hydraulic Fracturing Market Analysis 2023: Market Growth Drivers, Trends, Size And Forecast To 2032 | Halliburton, Schlumberger, Baker Hughes, NexTier Oilfield Solutions, Calfrac Well Service
Hydraulic Fracturing Market
The Business Research Company's Hydraulic Fracturing Global Market Report 2023 identifies Rising demand for oil and gas from offshore assets as the major driver for the Hydraulic Fracturing market's growth in the forecast period. he rising demand for energy worldwide has led oil and gas operators to maximize the value of their existing assets by using more advanced methods such as hydraulic fracturing for oil and gas recovery while extending production and exploration activities to remote and harsher environments.
The global hydraulic fracturing market size grew from $36.23 billion in 2022 to $39.61 billion in 2023 at a compound annual growth rate (CAGR) of 9.3%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The hydraulic fracturing market size is expected to grow to $55.01 billion in 2027 at a CAGR of 8.6%.
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Major competitors in the Hydraulic Fracturing market are Halliburton, Schlumberger, Baker Hughes, NexTier Oilfield Solutions, Calfrac Well Service.
A key trend in the Hydraulic Fracturing market includes technological advancement. The companies operating in hydraulic fracturing are adopting advanced technologies such as automation, real-time tracking systems, live 3D visualization systems, and other technologies, as they offer efficiency in hydraulic fracturing operations with automated controls and better visibility. For instance, in October 2020, Halliburton, an American multinational corporation actively involved in hydraulic fracturing operations, introduced SmartFleet, the first intelligent automated fracturing system.
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The Hydraulic Fracturing market is segmented -
1. By Technology: Plug and Perf, Sliding Sleeve
2. By Fluid Type: Slick Water-based Fluid, Foam-based Fluid, Gelled Oil-based Fluid, Other Fluid Types
3. By Well Type: Horizontal Well, Vertical well
4. By Application: Onshore, Offshore
5. By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. North America was the largest region in the Hydraulic Fracturing market.
The Business Research Company's "Global Hydraulic Fracturing Market Report 2023" provides a thorough understanding of the market across 60 geographies. The report covers market size, growth rate, segments, drivers and trends in every region and country. In addition, the report offers insights on historical and forecast growth, helping players analyze and strategize better.
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The Table Of Content For The Hydraulic Fracturing Market Include:
1. Executive Summary
2. Hydraulic Fracturing Market Characteristics
3. Hydraulic Fracturing Market Trends And Strategies
4. Hydraulic Fracturing Market - Macro Economic Scenario
5. Hydraulic Fracturing Market Size And Growth
……
26. Africa Hydraulic Fracturing Market
27. Hydraulic Fracturing Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Hydraulic Fracturing Market
29. Hydraulic Fracturing Market Future Outlook and Potential Analysis
30. Appendix
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