Acumen Research and Consulting, Recently Published Report On “Hydraulic Fracturing Market Size, Share, Scope, Growth Opportunity and Forecast 2019-2026”.
LOS ANGELES, Aug. 14, 2019 (GLOBE NEWSWIRE) -- The global hydraulic fracturing market is estimated to grow at CAGR above 11.8% over the forecast time frame 2019 to 2026 and reach the market value around US$ 83 billion by 2026.
Grown E&P companies are anticipated to push market growth with a focus on declining production rates in the conventional hydrocarbon reserves as well as on developing unconventional oil & gas blocks globally.
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The US and Chinese government’s estimate that favorable measures in the form of financial aid, tax incentives and simple supply of FDIs in the hydrocarbon sector will guide industry development in the next few years. Several bans, moratoria, and pubic issues on the economic effects of technology are anticipated to stay major difficulties for business members during the projection era, especially in counties including France, Tunisia, Bulgaria, Romania and South Africa.
Plug & Perfect technology dominated the worldwide industry for hydraulic fracturing which accounted for more than 80% of complete sales in 2018. The method allows multi-stage fracking in the boxes and is commonly used in tight oil and shale finishes, especially in the US.
In 2018, North America dominated worldwide supply, representing over 84% of overall income. Together, the United States and Canada played a major role in the worldwide hydraulic fracturing sector. A elevated market penetration in these areas can be attributable to the availability of important assets including technology, qualified workers and public support, combined with growing economic and development operations in unconventional stocks.
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Asia Pacific has huge capacity for development in the sector in the coming years. The availability in China, Indonesia and Australia of major technologically recoverable shallower and CMB resources and major investments through hydrocarbon industry FDI channels in those countries is anticipated to give industry members profitable opportunity to investigate untapped potential in unconventional hydrocarbon resources on these global economies.
Due to increased inquiries into the development of big accessible unconventional hydraulic resources, hydraulic fracturing sector is anticipated to see significant development in nations such as Russia, Argentina, Poland and Algeria over this forecast period. In January 2016, for example, Gazprom Neft examined the non-conventional Vyngayakhinskoye land reserve and plans to perform nine-stage hydraulic fracturing to ensure the normal flow of dry crude oil from the well.
The main factor in boosting the hydro-fracture market growth of Saudi Arabia is increased investment in petrol & gas initiatives. Saudi Aramco aims, for example, to spend 334 billion USD to explore and produce innovative assets and to support infrastructure and services initiatives.
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- As the biggest fracturing material with net sales anticipated to surpass USD 14.0 billion by 2026, the applicants arose. Ceramic supporters are expected to develop at an estimated CAGR of 7.5 percent between 2018 and 2026.
- Shale gas dominated worldwide supply, representing 30% of complete hydraulic fracturing revenues in 2015. The development of the shale bubble in the U.S. and the growing number of shale reservoirs worldwide, especially in China and Canada, are anticipated to fuel market growth in this section. The demand for hydraulic fracturing of tight gas structures in the United States was estimated to reach US$ 6 billion in 2017 and is anticipated to increase at CAGR by 8.9 percent between 2019 and 2026.
- The hydrofracking sector in North America dominated worldwide supply and is expected to stay the biggest regional market in the forecast period. In the next eight years, the national industry is expected to grow slightly above net worth USD 68 billion by 2026.
Key Players & Strategies
The worldwide hydraulic fracturing market is slightly strengthened due to the existence of numerous main players across the value chain. Major industries include multinational conglomerates including E&P businesses, oil field services and personal machinery businesses, proppants and microseismic businesses. Oilfield service providers such as Halliburton, Schlumberger, BJ Services and FTS International dominate the worldwide industry, which together accounted for over half the world's revenues in 2015.
Tacrom Services S.R.L., United Oilfield Services, Weatherford International, Calfrac Well Services, Trican Well Services Ltd, Cudd Energy Services, Superior Well Services, Patterson UTI, ConocoPhilips and Franklin also play a major role in this sector. In 2016 the Patterson UTI concluded a merger agreement with the Seventy Seven Energy company of Oklahoma with 201 high-specific devices to enhance business growth.
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