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Hydraulic Fracturing Market: A Projection of Strong Growth, Market-Driving Forces, and Future Trends
Hydraulic Fracturing Market
What Is The Projected Market Size Of The Global Hydraulic Fracturing Market And Its Growth Rate?
o The hydraulic fracturing market size has grown significantly and will increase from $40.69 billion in 2024 to $44.51 billion in 2025 at a compound annual growth rate (CAGR) of 9.4%.
o This growth can be attributed to increased demand for unconventional oil and gas resources, rising energy prices, expanded shale gas exploration and production.
o The market is predicted to reach $60.35 billion by 2029 with a compound annual growth rate (CAGR) of 7.9%, driven by growing global energy demand, exploration of unconventional reserves and data analytics in hydraulic fracturing operations.
What Is Driving The Growth In The Hydraulic Fracturing Market?
Robust global oil demand primarily fuels the growth of the hydraulic fracturing market. The demand for energy worldwide has led oil and gas operators to employ advanced methods such as hydraulic fracturing to maximize their existing assets. Notably, the International Energy Agency reported in June 2023 that global oil demand would rise by 6% between 2022 and 2028, reaching 105.7 million barrels per day. Therefore, the rising demand for oil and gas from offshore assets is a vital driver of the hydraulic fracturing market.
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Who Are the Key Players Driving Hydraulic Fracturing Market Growth?
o Halliburton Company
o Schlumberger Limited
o Baker Hughes Company
o NexTier Oilfield Solutions Inc.
o Calfrac Well Services Ltd.
o Liberty Oilfield Services LLC
o Weatherford International plc
o ProPetro Holding Corp.
o Evolution Well Services LLC
o PJSC Rosneft Oil Company
What Are The Key Trends In The Hydraulic Fracturing Market?
o Advancements in hydraulic fracturing technologies
o Technological innovations in horizontal drilling
o Advances in hydraulic fracturing fluid technology
o The development of eco-friendly hydraulic fracturing technologies
What Are The Segments Of The Global Hydraulic Fracturing Market?
o Technology: Plug And Perf, Sliding Sleeve
o Fluid Type: Slick Water-based Fluid, Foam-based Fluid, Gelled Oil-based Fluid, Other Fluid Types
o Well Type: Horizontal Well, Vertical well
Which Region Leads The Hydraulic Fracturing Market?
North America was the largest region in the hydraulic fracturing market in 2024, with Asia-Pacific predicted as the fastest-growing region in the forecast period. The report covers regions including Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
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What Is Covered In The Hydraulic Fracturing Global Market Report?
- Market Size Analysis: Analyze the Hydraulic Fracturing Market size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Identify various subsegments within the Hydraulic Fracturing Market for effective categorization.
- Key Player Focus: Focus on key players to define their market value, share, and competitive landscape.
- Growth Trends Analysis: Examine individual growth trends and prospects in the Market.
- Market Contribution: Evaluate contributions of different segments to the overall Hydraulic Fracturing Market growth.
- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
- Industry Challenges: Analyze challenges and risks affecting the Hydraulic Fracturing Market.
- Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.
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