Hydraulic Fracturing Market Current Trends, Opportunities and Growth Challenges by 2030
The global hydraulic fracturing market size was significantly robust in 2021 and is expected to register a rapid revenue CAGR over the forecast period. Increasing oil and gas exploration activities from unconventional sources, technological advancements in horizontal drilling and hydraulic fracturing, and rising use of natural gas to combat detrimental effects of coal-fired power plants on the environment, are some key factors expected to drive market revenue growth over the forecast period. Hydraulic fracturing increases economic activity, employment, and strengthens energy security of countries across the globe. Hydraulic fracturing can extract more oil and gas from the same well and improve crude oil efficiency, which is another factor expected to drive revenue growth of the market over the forecast period. Technological breakthroughs in fracking and directional drilling can provide access to new supplies of shale oil and natural gas, and thus, lower domestic and global energy prices.
Hydraulic fracturing is a technique used to extract natural gas and oil from shale and other forms of tight reserves, and it covers procedures and steps that aim to protect water supplies. Hydraulic fracturing is the preferred stimulation for unconventional reservoirs, and it uses fracturing fluid, propping material, and pressure, to create small fractures in a geological formation and stimulate hydrocarbon production from oil and gas wells. Hydraulic fracturing is used after the drilled hole has been provided with adequate wall integrity. The technique has been contributing significantly to the production of oil and gas across the globe in the past few decades, and is usually used for wells in low- and moderate-permeability reservoirs that do not provide commercial production rates.
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The global Hydraulic Fracturing Market size was significantly robust in 2021 and is expected to register a rapid revenue CAGR over the forecast period. Increasing oil and gas exploration activities from unconventional sources, technological advancements in horizontal drilling and hydraulic fracturing, and rising use of natural gas to combat detrimental effects of coal-fired power plants on the environment, are some key factors expected to drive market revenue growth over the forecast period.
Increasing availability of advanced technologies and rapid shift towards renewable energy resources are key factors expected to drive revenue growth of the market over the forecast period. More and more countries are investing in sustainable and clean energy in their efforts to curb pollution and minimize carbon emissions. Proper management of energy is vital to a functional society and development of energy resources has become crucial for various end-use sectors such as agriculture, IT, transportation, and communications, among others. In addition, increasing efforts taken by the government to encourage energy conservation by implementing subsidies and tax incentives is also a key factor expected to drive global market growth over the forecast period.
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The report further provides a comprehensive analysis of the competitive landscape and provides a complete coverage with regards to company’s profiles, product portfolio, revenue generation, financial standing and market position. It also covers mergers and acquisitions, joint ventures, product launches, brand promotions, collaborations, agreements, and partnerships among others. The report offers strategic recommendations to the businesses and investors to capitalize on the lucrative growth opportunities.
The report aims to offers a thorough outlook of the Hydraulic Fracturing Market based on various key elements such as market drivers, limitations, threats, restraining factors, and growth prospects. It also a provides an extensive regional analysis along with key countries with regards to production and consumption ratio, import/export, consumer demand, supply and demand, regulatory factors, investment and funding, and presence of key players in each region.
Hydraulic Fracturing Market Segmentation by Regions:
- North America (U.S., Canada, Mexico)
- Europe (U.K., Italy, Germany, France, Rest of Europe)
- Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
- Latin America (Chile, Brazil, Argentina, Rest of Latin America)
- Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
Global Hydraulic Fracturing Market Segmentation based on Product Types and Applications:
- Horizontal Well
- Vertical Well
- Shale Gas
- Tight Oil
- Tight Gas
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