Us Fracking Equipment Market Size By Applications, By Type, By End-User, By Deployment & By Technology 2032
Fracking Equipment Market was valued at USD 50 Billion in 2022 and is projected to reach USD 75 Billion by 2030, growing at a CAGR of 5.5% from 2024 to 2030.
The U.S. fracking equipment market has experienced significant growth over the past decade, driven by the increasing demand for oil and gas extraction through hydraulic fracturing techniques. Hydraulic fracturing, commonly known as fracking, involves injecting high-pressure fluid into underground rock formations to release oil and gas trapped within the shale layers. This process requires specialized equipment and technology to efficiently extract hydrocarbons from unconventional reservoirs, driving the demand for fracking equipment globally.
In the United States, the fracking equipment market is witnessing steady growth, fueled by the expansion of unconventional oil and gas exploration and production activities. Key factors such as technological advancements, increasing investment in shale gas development, and rising energy consumption are driving market expansion. The global fracking equipment market is expected to grow at a moderate pace in the coming years, with North America, particularly the United States, dominating the market due to extensive shale reserves, favorable regulatory environment, and robust investment in hydraulic fracturing operations.
Several companies are leading the way in revolutionizing the U.S. fracking fleet. These innovative developers are introducing new technologies that modernize fracturing fleets, delivering major fuel savings and creating other tangible efficiencies. The oil and gas industry is one of the most important across North America, and the process of fracing, which is used to recover natural gas from the ground, is prominent across the continent. Fracing, a shortened term for hydraulic fracturing, is the process of injecting liquid into the ground at high pressures to extract oil and natural gas. This method of extraction has been used quite regularly since the 1960s, but has actually been in practice since 1857, when a well worker in New York dropped gunpowder into a well and lowered hot iron to set it off, subsequently fracturing the rock around the well and increasing the flow of gas.
The hydraulic fracturing market, a critical component of the global energy sector, has experienced significant growth over the past decade. The market size is valued at $50.4 billion in 2023 and is predicted to reach $100.3 billion by the year 2031, with an 8.3% compound annual growth rate (CAGR) during the forecast period for 2024-2031. The demand for drilling, completion, fracturing, and workover services holds the major share in the global market. This factor is due to the increasing demand for advanced technology, tools, and equipment layout to increase the exploration and production activities in onshore and offshore areas. Oilfield service plays a significant role in the upstream service industry, especially in offshore assets. The demand for drilling, completion, fracturing, and workover services holds the major share in the global market. This factor is due to the increasing demand for advanced technology, tools, and equipment layout to increase the exploration and production activities in onshore and offshore areas.
The U.S. market is significantly influenced by the Spill Prevention, Control, and Countermeasure (SPCC) regulations enforced by the Environmental Protection Agency (EPA), which mandate secondary containment measures such as frac tanks for oil and hazardous material storage to prevent environmental spills during fracking and drilling operations. This factor, coupled with rising fracking activities to meet the country's energy needs, is driving the demand for SPCC-compliant frac tanks. The market in the U.S. is significantly influenced by the SPCC regulations enforced by the EPA, which mandate secondary containment measures such as frac tanks for oil and hazardous material storage to prevent environmental spills during fracking and drilling operations. This factor, coupled with rising fracking activities to meet the country's energy needs, is driving the demand for SPCC-compliant frac tanks.
In recent years, the U.S. oilfield services industry has faced financial challenges due to a combination of more efficient oil production methods, lower oil prices, and reduced expenditures by oil producers. These factors have led to decreased demand for fracking, resulting in fewer rigs being used and the lowest number of active frac fleets since March 2021. The Permian Basin, a major U.S. oilfield, has also seen its rig count drop to the lowest since February 2022. The industry is under pressure from oversupply predictions and lower crude price forecasts, with West Texas Intermediate crude futures expected to average around $63 in 2025. This has led to significant declines in revenue for companies like Halliburton, and profit margins are tightening due to negotiating lower prices for equipment. As a result, land rig day rates are set to end the year at their lowest levels since mid-2022. Additionally, rising debt and increased bankruptcy filings among oilfield firms are escalating financial woes in the sector.
Despite these challenges, technological advancements continue to shape the future of the U.S. fracking equipment market. Artificial intelligence (AI) is revolutionizing the oil industry, particularly in the Permian Basin of Texas and New Mexico. Over the past decade, the application of AI has enabled oil companies to increase daily oil production by 60% while reducing their workforce by 40%. AI is helping companies like Exxon Mobil, Chevron, and others to enhance their productivity, reduce costs, and ensure profitability even during oil price slumps. AI tools enable oil companies to better predict oil yields, manage equipment remotely, and automatically control operations, leading to significant efficiency gains. The "break-even" price for oil production has been lowered from over $90 per barrel in 2012 to $40 per barrel today and is expected to decrease further with AI advancements. AI's influence extends to offshore oil drilling, where seismic imaging and data analysis have been expedited dramatically. These advancements are having a profound impact on the U.S. oil industry's overall output and economic contribution.
In summary, the U.S. fracking equipment market is experiencing steady growth, driven by technological advancements, increasing investment in shale gas development, and rising energy consumption. While facing financial challenges and regulatory pressures, the industry continues to innovate and adapt, ensuring its pivotal role in meeting the nation's energy needs.
Get an In-Depth Research Analysis of the Global Fracking Equipment Market Size And Forecast [2025-2032]
Â
Halliburton
Schlumberger
Stewart & Stevenson
National Oilwell Varco
Baker Hughes
ProFrac
UE Manufacturing
Servagroup
M.G. Bryan
Â
By the year 2030, the scale for growth in the market research industry is reported to be above 120 billion which further indicates its projected compound annual growth rate (CAGR), of more than 5.8% from 2023 to 2030. There have also been disruptions in the industry due to advancements in machine learning, artificial intelligence and data analytics There is predictive analysis and real time information about consumers which such technologies provide to the companies enabling them to make better and precise decisions. The Asia-Pacific region is expected to be a key driver of growth, accounting for more than 35% of total revenue growth. In addition, new innovative techniques such as mobile surveys, social listening, and online panels, which emphasize speed, precision, and customization, are also transforming this particular sector.
Get Discount On The Purchase of the Global Fracking Equipment Market Size And Forecast [2025-2032]
Growing demand for below applications around the world has had a direct impact on the growth of the Global Fracking Equipment Market
Drilling Equipment
Completion Equipment
Production Equipment
Well Services Equipment
Water Management Equipment
Onshore Fracking
Offshore Fracking
Pumps
Mixing Units
Blending Equipment
Storage Tanks
Measurement and Monitoring Equipment
Hydraulic Fracturing
Acid Fracturing
CO2 Fracturing
Hybrid Fracturing
Micro Fracturing
Independent Operators
Major Oil and Gas Companies
Service Providers
Contractors
Government and Regulatory Bodies
Global (United States, Global and Mexico)
Europe (Germany, UK, France, Italy, Russia, Turkey, etc.)
Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
South America (Brazil, Argentina, Columbia, etc.)
Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)
For More Information or Query, Visit @ Fracking Equipment Market Research Analysis
1. Introduction of the Global Fracking Equipment Market
Overview of the Market
Scope of Report
Assumptions
2. Executive Summary
3. Research Methodology of Verified Market Reports
Data Mining
Validation
Primary Interviews
List of Data Sources
4. Global Fracking Equipment Market Outlook
Overview
Market Dynamics
Drivers
Restraints
Opportunities
Porters Five Force Model
Value Chain Analysis
5. Global Fracking Equipment Market, By Type
6. Global Fracking Equipment Market, By Application
7. Global Fracking Equipment Market, By Geography
Global
Europe
Asia Pacific
Rest of the World
8. Global Fracking Equipment Market Competitive Landscape
Overview
Company Market Ranking
Key Development Strategies
9. Company Profiles
10. Appendix
About Us: Verified Market Reports
Verified Market Reports is a leading Global Research and Consulting firm servicing over 5000+ global clients. We provide advanced analytical research solutions while offering information-enriched research studies. We also offer insights into strategic and growth analyses and data necessary to achieve corporate goals and critical revenue decisions.
Our 250 Analysts and SMEs offer a high level of expertise in data collection and governance using industrial techniques to collect and analyze data on more than 25,000 high-impact and niche markets. Our analysts are trained to combine modern data collection techniques, superior research methodology, expertise, and years of collective experience to produce informative and accurate research.
Contact us:
Mr. Edwyne Fernandes
US: +1 (650)-781-4080
US Toll-Free: +1 (800)-782-1768
Website: https://www.verifiedmarketreports.com/