openPR Logo
Press release

Hydraulic Fracturing Market To Witness Tremendous CAGR 7.4% CAGR By 2028 | Halliburton, SLB, Liberty Oilfield Services LLC, Baker Hughes

02-28-2024 10:30 AM CET | Energy & Environment

Press release from: MarketsandMarkets

Hydraulic Fracturing Market To Witness Tremendous CAGR 7.4%

According to a research report, the global hydraulic fracturing market is projected to reach USD 74.4 billion by 2028 from an estimated USD 52.1 billion in 2023, at a CAGR of 7.4% during the forecast period.

View detailed Table of Content here - https://www.marketsandmarkets.com/Market-Reports/hydraulic-fracturing-market-745.html

Hydraulic fracturing, also known as fracking, is one of the most efficient techniques used to recover unconventional oil and gas resources. It is an underground petroleum extraction process in which water, sand, and chemicals are injected under high pressure into a bedrock formation through the well. The injection pressure of the pumped fluid creates fractures that cause gas and fluid flow, and the sand or other coarse materials help in holding the fractures. The increasing supply-demand gap for primary energy sources is one of the leading factors driving the growth of the hydraulic fracturing market, as the demand for oil and gas is constantly growing, and the production capacities of the related reserves are limited. The capability of foams to provide waterless fracking presents promising opportunities for the hydraulic fracturing market. However, the risks associated with growing concerns regarding seismic activities due to hydraulic fracturing has hindered the growth of the market in recent years and is expected to restrain the market's growth during the forecast period.

The hydraulic fracturing market is served by many international players with a global operational presence and local players with a strong domestic supply network. Halliburton (US), SLB (US), Liberty Oilfield Services LLC (US), Baker Hughes (US), and NexTier Oilfield Solutions (US) are the market leaders in the global hydraulic fracturing market. These companies use strategies such as acquisitions, expansions, contracts, agreements, mergers, and investments, to increase their market share.

Download PDF Brochure @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=745

The horizontal, by well type, is expected to grow at the highest CAGR during the forecast period.

Based on good type, the hydraulic fracturing market has been split into horizontal and vertical. Horizontal well types are expected to grow at the highest CAGR during the forecasted period. A horizontal well requires a multi-directional drilling technique, which generally drills with an inclination of greater than 80° to enhance reservoir performance. The combination of horizontal drilling and hydraulic fracturing has increased the rate of US crude oil, lease condensate, and natural gas production.

The plug & perf segment, by technology, is expected to be the largest segment during the forecast period.

This report segments the hydraulic fracturing market based on technology into two segments: plug & perf and sliding sleeve. The plug & perf segment is expected to be the largest segment during the forecast period owing to the growing need for reliable operations to increase the production capacity of wells. The plug & perf technology can be used in both horizontal and vertical wells. It is the most common and preferred fracturing technology used for unconventional wells. The technology is deployed in wells with cemented liners; it involves pumping down a bridge plug on a wireline with perforating guns. Using this technology, a well is perforated and stimulated in multiple stages.

Ask Sample Pages @ https://www.marketsandmarkets.com/requestsampleNew.asp?id=745

North America is expected to be the largest region in the hydraulic fracturing market.

North America is expected to be the largest hydraulic fracturing market during the forecast period. The Asia Pacific region comprises major economies such as US and Canada. The growth in unconventional reserves such as tight oil and shale gas is primarily driving the demand for hydraulic fracturing services in the US and Canada. The region is one of the leading exporters of oil, accounting for up to 17.9% of the global oil trade because of the high demand for West Texas Intermediate (WTI) sweet crude oil from Europe, China, India, Japan, and other Asia Pacific countries, which are the leading consumers of crude oil and refined petrochemical products. Furthermore, the region has the largest shale reserves, which makes it a lucrative market for drilling activities and for oilfield service providers.

Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA: +1-888-600-6441
Email: newsletter@marketsandmarkets.com

About MarketsandMarkets™

MarketsandMarkets™ has been recognized as one of America's best management consulting firms by Forbes, as per their recent report.

MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.

Earlier this year, we made a formal transformation into one of America's best management consulting firms as per a survey conducted by Forbes.

The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines - TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.

Built on the 'GIVE Growth' principle, we work with several Forbes Global 2000 B2B companies - helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.

This release was published on openPR.

Permanent link to this press release:

Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.

You can edit or delete your press release Hydraulic Fracturing Market To Witness Tremendous CAGR 7.4% CAGR By 2028 | Halliburton, SLB, Liberty Oilfield Services LLC, Baker Hughes here

News-ID: 3403016 • Views:

More Releases from MarketsandMarkets

Laser Interferometer Market Set to Grow at the Fastest Rate- Time to Grow your Revenue
Laser Interferometer Market Set to Grow at the Fastest Rate- Time to Grow your R …
The global laser interferometer market is expected to be valued at 315 million in 2024 and is projected to reach USD 447 million by 2029, at a CAGR of 7.2% from 2024 to 2029. Emerging applications in industries push the market's growth due to the growing demand for precision in the manufacturing sector. However, challenges such as higher initial investments and maintenance costs cause problems. Despite these, opportunities arise for
With 19.6% CAGR, Battery Testing, Inspection, and Certification Market Growth to Surpass USD 36.7 billion
With 19.6% CAGR, Battery Testing, Inspection, and Certification Market Growth to …
The battery testing, inspection, and certification market is projected to reach USD 36.7 billion by 2029 from USD 14.9 billion in 2024 at a CAGR of 19.6% during the forecast period. Increasing adoption of EVs and energy storage systems, rising enforcement of stringent standards to ensure battery safety, thriving portable electronics industry, and rapid advances in battery technology are the major factors contributing to the market growth. Download PDF Brochure @
Real-Time Location Systems Revolutionize Healthcare: Insights from MarketsandMarkets
Real-Time Location Systems Revolutionize Healthcare: Insights from MarketsandMar …
The global RTLS market for healthcare is projected to grow from USD 2.3 billion in 2024 to USD 5.7 billion by 2029, at a compound annual growth rate of 19.6% from 2024 to 2029. As it attracts more and more players who enter this market with innovative RTLS features for customers, the market for RTLS technology is rapidly increasing. Top companies in this market focus on healthcare, retail, and manufacturing
Offsite Data Center Power Infrastructure Market Size to Reach $35.4 billion by 2030 | Leading key players are ABB, Schneider Electric, Eaton, Vertiv
Offsite Data Center Power Infrastructure Market Size to Reach $35.4 billion by 2 …
According to a research report "Offsite Data Center Power Infrastructure Market by Component (Solutions and Services), Vertical (BFSI, Media & Entertainment, Government & Defence, Healthcare, Manufacturing, IT & Telecom, Retail) and Region - Global Forecast to 2030" published by MarketsandMarkets, the market size for global offsite data center power infrastructure market is projected to reach approximately USD 35.4 billion by the year 2030, as compared to the estimated value of

All 5 Releases


More Releases for CAGR

[CAGR of 6.7%] Nanocoatings Market Size, Industry Share, CAGR, Regional Forecast …
The global Nanocoatings Market generated $10.7 billion in 2020, and is projected to reach $20.1 billion by 2030, growing at a CAGR of 6.7% from 2021 to 2030. The report provides an in-depth analysis of the top investment pockets, top winning strategies, drivers & opportunities, market size & estimations, competitive scenario, and wavering market trends. Download sample PDF @ https://www.alliedmarketresearch.com/request-sample/2064 According to the report published by Allied Market Research,
[CAGR of 5.3%] Pigments Market Size, Industry Share, CAGR, Regional Forecast, 20 …
A recent report by Allied Market Research provides a detailed analysis of the pigments market, highlighting its robust growth. The industry was valued at $27.2 billion in 2022 and is projected to surge to $45.4 billion by 2032, exhibiting an impressive CAGR of 5.3% from 2023 to 2032. This research report identifies the growth drivers behind the market's expansion and delves into the market dynamics using advanced analytical frameworks
[CAGR of 5.5%] Silica Flour Market Size, CAGR, Competitive Analysis and Forecast …
The global silica flour industry generated $520.0 million in 2021, and is estimated to reach $876.3 million by 2031, witnessing a CAGR of 5.5% from 2022 to 2031. Allied Market Research published a report, titled, "Silica Flour Market by Type (Quartz, Cristobalite), by Application (Fiberglass, Glass and Clay, Oil Well Cement, Ceramic and Refractory, Foundry, Others): Global Opportunity Analysis and Industry Forecast, 2021-2031." The report offers a detailed analysis
Enzymes Market Expansion CAGR of 4.9% CAGR Anticipated 2025-2034
The Enzymes Market report is an in-depth examination of the global Enzymes Market's general consumption structure, development trends, sales techniques, and top nations' sales. The research looks at well-known providers in the global Enzymes Market industry, as well as market segmentation, competition, and the macroeconomic climate. A complete Enzymes Market analysis takes into account a number of aspects, including a country's population and business cycles, as well as market-specific microeconomic
Electric Bed Market CAGR, Size, Share Grow USD 2,063 Million by 2030 CAGR 13.70%
Global electric bed market size is expected to be worth roughly USD 2,063 million by 2030, growing at a CAGR of more than 13.7% during the projected timeframe of 2022-2030, according to Ameco Research A significant portion of the population over the age of 60, who often have reduced immunity levels and are more susceptible to neurological disorders, cardiac issues, tumors, and spinal cord compression, is anticipated to have a substantial
Call Center AI Market Latest, CAGR, Volume and Value 2022-2030 | (CAGR) of 25%
New York , United States- Report Ocean published the latest research report on the Call Center AI market. In order to comprehend a market holistically, a variety of factors must be evaluated, including demographics, business cycles, and microeconomic requirements that pertain precisely to the market under study. In addition, the Call Center AI market study demonstrates a detailed examination of the business state, which represents creative ways for company growth,