Pressure Pumping Market Synopsis:
pressure pumping is a method used to extracts minerals and other resources from low permeability reservoirs. The method is gaining popularity and is anticipated to gain traction in the coming years. Market Research Future (MRFR)' study states that the global pressure pumping market is set to strike 9.57% CAGR across the assessment period 2019 to 2025. The market is also estimated to exceed valuation of USD 78 Bn by 2025.
Competitive Dashboard:
Baker Hughes, a GE Company (US), National Oilwell Varco (US), Weatherford International Inc. (US), Schlumberger (US), Trican (Canada), Key Energy Services (US), RPC Inc. (US), Sanjel Corporation (Canada), Calfrac Well Services Ltd. (Canada), Frac Tech Services International (US), China Oilfield Services Ltd. (China), Patterson-UTI Energy, Inc. (US), Saipem S.p.A. (Italy), and Superior Energy Services (US) are some of the important players in the global pressure pumping market.
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This method finds application in the extraction of unconventional resources such as shale gas, tight oil & gas, etc. Increasing exploration of these resources is expected to drive the growth of the pressure pumping market over the next couple of years. In addition, the depleting sources of natural resources have led to a rise in the extraction of unconventional resources. It is anticipated to influence the expansion of the pressure pumping market greatly in the years to come.
Increasing use of hydraulic fracturing in the oil & gas industry is also prognosticated to anchor the pressure umping market on its growth trajectory. Rising investments in advanced methods of pressure pumping are projected to boost revenue creation for the market players. On the other side, the implementation of strict regulations regarding the method remains an impediment to the growth of the pressure pumping market.
Market Segmentation:
The segments of the global pressure pumping market, based on service type, are hydraulic fracturing, cementing, and others. Among these, the hydraulic fracturing segment is expected to lead the growth of the market. The extensive use of hydraulic fracturing in extraction of unconventional minerals is anticipated to boost the expansion of the segment in the years to come.
On the basis of resource type, the global pressure pumping market has been divided into conventional and unconventional. The unconventional segment is expected to hold a larger market share due to rising demand for shale gas. It is projected to dominate the market over the next couple of years.
By well type, the segmental analysis of the global pressure pumping market covers - horizontal, vertical, and directional. Among these, the horizontal segment is assessed to dictate the growth pattern of the market over the next few years.
Intended Audience
The intended audience of the report on the global pressure pumping market are:
Pressure pumping contractors
Pressure pumping suppliers
Pressure pumping manufacturers
Public and private companies
Research and development companies
Institutional investors
Government and research organizations
Regional Analysis:
The geographical analysis of the global pressure pumping market spans across five regions - North America, Asia Pacific (APAC), Europe, the Middle East & Africa (MEA), and South America.
These regions are narrowed down to a country-level analysis for presenting a detailed insight. Among these, North America is the most prominent regional segment. Rising exploration activities of shale gas in the region is leading the growth of the pressure pumping market. In addition, the availability of huge reserves of shale gas in the region ensures an attractive future trajectory of the pressure pumping market for the next couple of year. The U.S. is projected to hold a prominent position in the regional market. in addition, the nation's offshore drilling activities in the Gulf of Mexico is poised to catalyze market growth in the nearby future.
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Related Searches: https://www.marketwatch.com/press-release/pressure-pumping-market-2019-size-share-emerging-technologies-acquisition-growth-insights-trends-and-demand-by-forecast-to-2027-2019-04-17
https://www.marketwatch.com/press-release/pressure-pumping-market-2019-rapid-development-by-manufactures-share-size-future-opportunities-segmented-by-well-type-services-and-region-forecast-to-2027-2019-05-15