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.
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.
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Market Segmentation:
The segments of the global pressure pumping market, based on service type, are hydraulic fracturing, cementing, and others.
On the basis of resource type, the global pressure pumping market has been divided into conventional and unconventional.
By well type, the segmental analysis of the global pressure pumping market covers - horizontal, vertical, and directional.
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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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.