Hydraulic Fracturing Market Top Companies Study - Halliburton (US), Schlumberger (US), Liberty Oilfield Services LLC (US), Baker Hughes (US).

InsightAce Analytic Pvt. Ltd. announces the release of a market assessment report on the "Global Hydraulic Fracturing Market- (By Technology (Plug & Perf, Sliding Sleeve), By Well Type (Horizontal Well, Vertical Well), By Application (Shale Gas, Tight Oil, Tight Gas)), Trends, Industry Competition Analysis, Revenue and Forecast To 2034."

According to the latest research by InsightAce Analytic, the Global Hydraulic Fracturing Market is valued at US$ USD 55.7 Bn in 2024, and it is expected to reach USD 118.9 Bn by the year 2034, with a CAGR of 8.0% during a forecast period of 2025-2034.

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Hydraulic fracturing is a widely adopted technique employed to enhance hydrocarbon extraction from unconventional resources such as shale formations, tight sandstone, and coalbed methane reservoirs. This process involves the injection of a high-pressure fluid mixture into the wellbore to induce fractures within subsurface rock formations, thereby facilitating improved oil and gas flow. The expansion of the hydraulic fracturing market is primarily driven by the rising global demand for energy-particularly oil and natural gas-amid the gradual depletion of conventional reserves. As a result, there is increasing dependence on unconventional energy sources that require advanced extraction methods like hydraulic fracturing.

The market's growth is further supported by the urgent need to satisfy energy consumption across diverse industrial sectors. Moreover, economic variables such as fluctuations in oil and gas prices, investment patterns, and overall market dynamics play a critical role in shaping industry trends. Notably, oil price volatility significantly affects the financial viability of hydraulic fracturing operations, with higher prices typically encouraging greater investment and exploration activity in unconventional resource development.

List of Prominent Players in the Hydraulic Fracturing Market:
• Halliburton (US),
• Schlumberger (US),
• Liberty Oilfield Services LLC (US),
• Baker Hughes (US),
• NexTier Oilfield Solutions (US),
• Calfrac Well Services Ltd. (Canada),
• STEP Energy Services (Canada),
• Patterson-UTI Energy, Inc. (US),
• Trican (Canada),
• National Energy Services Reunited Corp. (US),
• Petro Welt Technologies AG (Austria),
• ProFrac Holding Corp. (US),
• Tacrom (Romania)
• TAM International, Inc. (US),
• GD Energy Products, LLC (US),
• ProPetro Holding Corp. (US),
• TechnipFMC plc (UK),
• Weatherford (US),
• Nine Energy Service (US),
• AFG Holdings, Inc (US).

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Market Dynamics
Drivers:
Unconventional gas reserves represent a significant opportunity to address the rising global demand for energy, particularly through the development of shale and tight gas resources. According to the United States Geological Survey (USGS), substantial unconventional reserves exist within the Permian Basin, located in Western Texas and Southeastern New Mexico. Many countries are now actively advancing initiatives to adopt and expand unconventional gas exploration and production. These efforts are not only aimed at strengthening energy security but also at fostering economic growth through job creation. As a result, the growing emphasis on deploying more efficient, secure, and innovative extraction technologies is expected to propel the global hydraulic fracturing market forward.

Challenges:
Despite its advantages, hydraulic fracturing presents notable environmental challenges due to the use of hazardous chemicals such as formaldehyde, benzene, toluene, ethylbenzene, and xylene. The inadvertent release of these substances into the environment has been associated with various incidents, including operational blowouts and the contamination of water bodies through fracking fluid leakage. These environmental hazards have heightened concerns regarding groundwater quality near drilling sites and the potential harm to local ecosystems. Furthermore, exposure to these contaminants-often detected at levels considered harmful-poses serious health risks, including chronic illness, genetic disorders, and in severe cases, fatalities.

Regional Trends:
North America is expected to maintain a strong growth trajectory in the hydraulic fracturing market, driven by the region's abundant shale resources. The United States, in particular, has witnessed substantial increases in oil and gas output due to the prolific nature of its shale formations, positioning it as a major hub for hydraulic fracturing activities. Similarly, Canada possesses significant shale reserves, with the Montney and Duvernay formations serving as key areas of development. Market growth across the region is closely linked to fluctuations in oil and gas prices, which directly influence capital investment, drilling operations, and demand for hydraulic fracturing services.

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Recent Developments:
• In Apr 2023, Halliburton transferred three hydraulic fracturing fleets from natural gas basins to oil basins, the company stated. The US oilfield services behemoth revealed during its first-quarter 2023 earnings call that in a weaker natural gas market, customers had requested that the company relocate three of its fleets to oil basins. E-fleets were diesel-free hydraulic fracturing fleets that were typically powered by gas turbines and electricity.
• In August 2021, Alamo Pressure Pumping, LLC was bought by NexTier Oilfield Solutions. NexTier Oilfield Solutions will now have the third-biggest base of operational hydraulic horsepower in the United States and the largest base of next-generation equipment in the Permian Basin.

Segmentation of Hydraulic Fracturing Market-
Hydraulic Fracturing Market By Technology-
• Plug & Perf
• Sliding Sleeve
Hydraulic Fracturing Market By Well Type-
• Horizontal Well
• Vertical Well
Hydraulic Fracturing Market By Application-
• Shale Gas
• Tight Oil
• Tight Gas
North America-
• The US
• Canada
• Mexico
Europe-
• Germany
• The UK
• France
• Italy
• Spain
• Rest of Europe
Asia-Pacific-
• China
• Japan
• India
• South Korea
• South East Asia
• Rest of Asia Pacific
Latin America-
• Brazil
• Argentina
• Rest of Latin America
Middle East & Africa-
• GCC Countries
• South Africa
• Rest of the Middle East and Africa

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This release was published on openPR.