Press release
Fracking Fluid End Market is Forecasted to Reach US$ 734.7 Million in 2028, Says Stratview Research
Stratview Research
Stratview Research, a global market research firm, has launched a report on the global fracking fluid end market, which provides a comprehensive outlook of the global and regional industry forecast, current & emerging trends, segment analysis, competitive landscape, & more.
Click here to get a free sample of the report:
https://stratviewresearch.com/Request-Sample/826/fracking-fluid-end-market.html#form
Market Statistics:
Market Size in 2028: US$ 734.7 million
Growth (CAGR): 4.2% during 2023-2028
Leading Material Type: Stainless Steel
Leading End-User Type: Aftermarket
Leading Horsepower Type: 2000-2500 HP
Leading Design Type: Quintuplex
Leading Region: North America
Forecast Period: 2023-2028
Trend Period: 2017-2021
Base Year: 2022
Number of Segments Covered: 5
Number of Tables & Graphs: 100+
Country-Level Market Assessment: 20
Segment Insights on the Fracking Fluid End Market:
The global fracking fluid end market is segmented based on material type, end-user type, design type, horsepower type, and region.
Based on material type - The fracking fluid end market is segmented into carbon steel and stainless steel. Stainless steel is likely to maintain its dominance in the market during the forecast period and is also likely to grow at a higher rate during the same period in the wake of its corrosion-resistant property and longer pumping hours as compared to the carbon fluid end.
Based on end-user type - The market is segmented into OE and aftermarket. Aftermarket not only governed the fracking fluid end market in 2022 but is also estimated to remain the fastest-growing end-user type during the forecast period. The lifespan of fluid ends gets shorter with the harsher fracking environment, a larger volume of proppant used, and rising pumping pressure resulting in increasing replacement of fluid ends in existing frac pumps. While the power end lasts for two years, fluid ends need to be replaced three to four times per year (approx.).
Based on horsepower type - The market is segmented into 2000-2500 HP and above 2500 HP. In 2022, fluid ends compatible with frac pumps of horsepower between 2000-2500 held a major share of the market. The above 2500 horsepower segment is expected to grow at a higher rate during the forecast period, driven by the gradual shift in demand towards higher horsepower pumps to reduce the number of assets on the site while extending the parts' life. For example, 11 units of 5,000 HP fracking pumps can do the job of 20 units of 2,500 HP frac pumps.
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Which Region Shows the Most Promising Growth Forecast and Opportunity?
The analysis suggests that North America is projected to remain the largest market during the forecast period. This growth outlook is majorly attributed to the following-
· Presence of high technically recoverable reserves of shale oil & gas and the presence of major fluid end manufacturers in the region.
· The rise in the number of hydraulic frac stages in North America has resulted in a notable increase in high hydraulic pressure (HHP) requirements at well sites, subsequently driving the demand for fluid ends.
Likewise, Asia-Pacific is expected to witness the highest growth in the market during the forecast period, mainly driven by China. The country has increased its investments in the exploration and production of oil & natural gas, using the hydraulic fracking technique.
Fracking Fluid End Market Drivers:
Some of the key drivers listed in the report are given below.
· Recovery in oil prices
· Growing global oil demand
· The upward trend in rig counts
· An increase in the number of frac stages
· Increase in the share of horizontally drilled wells
Top Companies in the Fracking Fluid End Market:
Stratview Research has identified the following companies as the top market players:
• Caterpillar Inc.
• Dragon Products Ltd.
• Forum Energy Technologies, Inc.
• GD Energy Products, LLC
• Halliburton
• Kerr Pumps
• ST9 Gas + Oil
• TechnipFMC plc
• VP Sales & Manufacturing
• VULCAN Industrial Holdings
What Unique Insights Does This Report Offer?
This report provides comprehensive insights into the market, answering critical questions like
- How big is the sales opportunity?
- Which regions offer the best sales opportunities?
- Which are the most attractive market segments?
- Which are the top players and their market positioning?
- How complex is the business environment?
- What are the factors affecting the market?
For Customization or Any Other Queries, get in Touch with our industry experts at sales@stratviewresearch.com
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About us -
Stratview Research is a global market research firm that highly specializes in aerospace & defense, chemicals, and a few other industries.
It launches a limited number of reports annually on the above-mentioned specializations. Thorough analysis and accurate forecasts in this report enable the readers to take convincing business decisions.
Stratview Research has been helping companies meet their global and regional growth objectives by offering customized research services. These include market assessment, due diligence, opportunity screening, voice of customer analysis, market entry strategies, and more.
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