Press release
Global Hydraulic Fracturing Market Outlook 2025-2034: Trends, Innovations, And Future Outlook
Hydraulic Fracturing
What Is the Hydraulic Fracturing Market Size and Projected Growth Rate?
Recently, there has been significant growth in the size of the hydraulic fracturing market. Its expansion is expected to continue, going from its 2024 value of $40.69 billion to $44.51 billion in 2025, indicative of a compound annual growth rate (CAGR) of 9.4%. Factors contributing to this uptick in the historic period include an escalated demand for unconventional oil and gas resources, the rise of energy prices, the necessity for energy security, and the enlargement of shale gas exploration and production.
The hydraulic fracturing sector's market size is anticipated to experience robust expansion in the upcoming years. It is projected to escalate to $60.35 billion in 2029, with a compound annual growth rate (CAGR) of 7.9%. The growth over the forecasted period can be credited to the escalating worldwide energy needs, ongoing exploration of unconventional reserves, heightened emphasis on environmental and regulatory adherence, the incorporation of data analytics into hydraulic fracturing practices and the increased usage of recycled water in these operations. Noteworthy trends during this forecast period encompass the progression in hydraulic fracturing technology, technological breakthroughs in horizontal drilling, enhancements in hydraulic fracturing fluid technology, and increased focus on the creation of eco-friendly hydraulic fracturing methods.
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What Are the Major Segments in the Hydraulic Fracturing Market?
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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What Are The Driving Hydraulic Fracturing Market Evolution?
The growth of the hydraulic fracturing market is being propelled by the increasing demand for oil and gas from offshore assets. The escalating global energy demands have encouraged oil and gas operators to make full use of their current assets through the implementation of sophisticated techniques such as hydraulic fracturing. This enhances oil and gas recovery while also expanding production and exploration to more challenging and remote locations. For example, the France-based intergovernmental economic organization, the International Energy Agency, announced in June 2023 that global oil demand is expected to increase by 6% from 2022 to 2028, hitting 105.7 million barrels per day (mb/d). This increase is primarily driven by strong demand within the petrochemical and aviation sectors. Hence, the surging demand for oil and gas from offshore assets underpins the expansion of the hydraulic fracturing market.
Which Firms Dominate The Hydraulic Fracturing Market Segments?
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.
What Trends Are Expected to Dominate the Hydraulic Fracturing Market in the Next 5 Years?
The hydraulic fracturing market is increasingly embracing technological progress as a major trend. Firms involved in hydraulic fracturing are turning to cutting-edge technologies like automation, live tracking systems, 3D live visualization systems, and others, as these can enhance efficiency in operations through automated controls and improved visibility. For instance, SPM Oil & Gas, an American company that specializes in upstream pressure pumping and pressure control equipment and services, launched the SPM Simplified Frac Iron System in May 2022. This pioneering system is designed to improve the hydraulic fracturing process by addressing the inefficiencies linked with conventional frac operations. Its implementation reduces both the physical footprint and the amount of iron needed for fracturing operations, leading to an increase in overall operational efficiency at the frac site.
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Which Is The Largest Region 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
Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Hydraulic Fracturing Market?
2. What is the CAGR expected in the Hydraulic Fracturing Market?
3. What Are the Key Innovations Transforming the Hydraulic Fracturing Industry?
4. Which Region Is Leading the Hydraulic Fracturing Market?
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