Sunday, 21 February 2016

Hydraulic Fracturing Market Growth, Size | Analysis And Forecasts To 2020

The global hydraulic fracturing market is expected to reach USD 90.55 billion by 2020, according to a new report by Grand View Research, Inc. Hydraulic fracturing enables easier crude oil and natural gas extraction from unconventional reserves such as coal bed methane, shale formations, and tight sand. 

Government support in the form of financial incentives and tax benefits particularly in Asia and North America is anticipated to drive the market over the forecast period. Shifting focus towards developing unconventional hydrocarbon resources owing to depleting production rates in conventional oil & gas reserves is expected to positively impact industry growth. Growing concern for ground water contamination has led regulatory bodies to ban hydraulic fracturing particularly in European countries including France and Tunisia. This is anticipated to remain a key challenge for industry participants over next six years.

     North America hydraulic fracturing market, by technology, 2012 – 2022 (USD Million)
North America hydraulic fracturing market
Plug & perf was the leading technology segment and accounted for over 80% of total revenue in 2013. This technique is widely used in shale oil and shale gas completions and assists multistage fracturing for cased holes.

View summary of this report, click the link below: 

Further key findings from the report suggest:
  • Global hydraulic fracturing market was valued at USD 41.62 billion in 2013 and is expected to reach USD 90.55 billion by 2020, growing at a CAGR of 11.8% from 2014 to 2020
  • Proppants were the major fracking materials and accounted for over 25% of total revenue in 2013. Frac sand were the leading proppant type and generated revenue worth of USD 3.89 billion in 2013.
  • Shale gas was the leading application segment and accounted for over 20% of total industry in 2013. Rising shale plays particularly in the U.S., Canada and China is anticipated to drive the market growth over the next six years.
  • North America accounted for over 80% of total revenue in 2013. Initial development of the unconventional hydrocarbon resources coupled with favorable legislations by the Federal Government has contributed significantly for industry penetration in the region.
  • Asia Pacific hydraulic fracturing market is anticipated to witness fastest growth over the forecast period on account of rising E&P in unconventional oil & gas reserves, particularly in China, Indonesia and Australia. The regional industry is estimated to grow at a CAGR of 19.1% from 2014 to 2020.
  • Major players operating in the global hydraulic fracturing industry include Halliburton, Schlumberger, FTS International and Baker Hughes. Other players operating in the industry include Calfrac Well Services, Weatherford International, Cudd Energy, Talcrom Services, Superior Well Services, Trican Well Services and United Oilfield Services.

No comments:

Post a Comment