Press release
Hydraulic Fracturing Market Forecast 2025-2034: Analysing Major Trends, Opportunities, and Growth Drivers
Hydraulic Fracturing Market
The growth of the hydraulic fracturing market is propelled by the increasing demand for oil and gas from offshore resources. As the global energy demand surges, oil and gas companies are employing more sophisticated techniques like hydraulic fracturing to optimize the value of their current assets, while also expanding exploration and production operations to more secluded and harsh environments. For example, in June 2023, the International Energy Agency, an intergovernmental economic entity based in France, forecasted a 6% increase in global oil demand from 2022 to 2028, reaching 105.7 million barrels per day (mb/d). This increase is reinforced by the strong demand from the petrochemical and aviation industries. Hence, the hydraulic fracturing market is being fueled by soaring demand for oil and gas from offshore resources.
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How will the growth rate of the hydraulic fracturing market shape industry trends by 2034?
In recent years, there has been significant growth in the size of the hydraulic fracturing market. The market is projected to expand from $40.69 billion in 2024 to $44.51 billion in 2025, with a compound annual growth rate (CAGR) of 9.4%. Factors contributing to the growth during the historic period include heightened demand for unconventional oil and gas resources, escalating energy prices, a growing need for energy security, and the increased exploration and production of shale gas.
Anticipated robust expansion in the forthcoming years is predicted for the hydraulic fracturing market, with predictions reaching $60.35 billion by 2029, demonstrating a compound annual growth rate (CAGR) of 7.9%. Various factors are contributing to this projected growth during the forecast period, including increasing global energy requirements, unconventional reserves exploration, improved emphasis on environmental and regulatory compliance, data analytics integration within hydraulic fracturing procedures, and an uptick in utilizing recycled water during hydraulic fracturing operations. Looking ahead, significant trends include advancements in hydraulic fracturing technologies, technological breakthroughs in horizontal drilling, improvements in hydraulic fracturing fluid technology, and heightened focus on creating environmentally friendly hydraulic fracturing technologies.
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What trends are poised to drive the future success of the hydraulic fracturing market?
The surge in technological innovations is a prominent trend in the hydraulic fracturing market. Businesses engaged in hydraulic fracturing are incorporating cutting-edge technologies such as automation, live tracking systems, 3D live visualization systems and other state-of-the-art technologies for improved efficiency, automated operations and better visibility. For instance, in May 2022, SPM Oil & Gas, an American firm that offers upstream pressure pumping and pressure control equipment and services, recently launched the SPM Simplified Frac Iron System. This novel system is designed to improve the hydraulic fracturing process and tackle inefficiencies tied to conventional frac operations. The newly introduced system reduces the physical space and amount of iron needed for fracturing operations, thereby boosting the overall operational efficiency at the frac site.
Which primary segments of the hydraulic fracturing market are driving growth and industry transformations?
The hydraulic fracturing market covered in this report 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
Subsegments:
1) By Plug And Perf: Single Plug And Perf, Multi-Stage Plug And Perf
2) By Sliding Sleeve: One-Trip Sliding Sleeve, Multi-Stage Sliding Sleeve
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Which geographical regions are pioneering growth in the hydraulic fracturing market?
North America was the largest region in the hydraulic fracturing market in 2024.Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the hydraulic fracturing market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
Who are the influential players reshaping the hydraulic fracturing market landscape?
Major companies operating in the hydraulic fracturing market include Halliburton Company, Schlumberger Limited, Baker Hughes Company, NexTier Oilfield Solutions Inc., Calfrac Well Services Ltd., Liberty Oilfield Services LLC, Weatherford International plc, ProPetro Holding Corp., Evolution Well Services LLC, RPC Inc., PJSC Rosneft Oil Company, Trican Well Service Ltd., US Well Services Inc., Cudd Energy Services, Enerplus Corporation, Frac Shack Inc., Nine Energy Service Inc., Patterson-UTI Energy Inc., ProFrac Services LLC, Pro-Stim Services LLC, Sanjel Energy Services, STEP Energy Services Ltd., Tacrom Services SA, AFG Holdings Inc.
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What Is Covered In The Hydraulic Fracturing Global Market Report?
•Market Size Forecast: Examine the hydraulic fracturing market size across key regions, countries, product categories, and applications.
•Segmentation Insights: Identify and classify subsegments within the hydraulic fracturing market for a structured understanding.
•Key Players Overview: Analyze major players in the hydraulic fracturing market, including their market value, share, and competitive positioning.
•Growth Trends Exploration: Assess individual growth patterns and future opportunities in the hydraulic fracturing market.
•Segment Contributions: Evaluate how different segments drive overall growth in the hydraulic fracturing market.
•Growth Factors: Highlight key drivers and opportunities influencing the expansion of the hydraulic fracturing market.
•Industry Challenges: Identify potential risks and obstacles affecting the hydraulic fracturing market.
•Competitive Landscape: Review strategic developments in the hydraulic fracturing market, including expansions, agreements, and new product launches.
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