The global hydraulic fracturing market is expected to reach USD
81.10 billion by 2024, according to a new report by Grand View Research, Inc.
Growing E&P companies’ concern towards declining production rates in
conventional hydrocarbon reserves along with shifting focus towards developing
unconventional oil & gas blocks globally is anticipated to drive the market
growth.
Favorable initiatives by the U.S. and Chinese
government in the form of financial aids, tax incentives and easy provision of
FDI in the hydrocarbon sector are estimated to steer the industry expansion over
the next few years. Several bans, moratoriums and pubic concerns regarding
environmental impacts of the technology particularly in counties including
France, Tunisia, Bulgaria, Romania, and South Africa are expected to remain key
challenges for the industry participants over the forecast period.
Plug & perf technology dominated the global
hydraulic fracturing market accounting for over 80% of the total revenue in
2015. The technique enables multistage fracking in cased holes and is widely
used in tight oil and shale completions particularly in the U.S.
View
summary of this report @ http://www.grandviewresearch.com/industry-analysis/hydraulic-fracturing-market
Further key findings from the report
suggest:
·
Proppants emerged as the largest fracturing
materials with net revenue expected to exceed USD 14.0 billion by 2024. Ceramic
proppants are anticipated to grow at an estimated CAGR of 7.6% from 2016 to
2024.
·
Shale gas dominated the global demand and
accounted for 30.2% of the total hydraulic fracturing revenue in 2015. The
emergence of the shale boom in the U.S. along with increasing acreage of shale
basins globally particularly in China and Canada is expected to drive market
growth in the segment. The U.S. hydraulic fracturing demand in tight gas
formations was valued at USD 6.01 billion in 2015 and is expected to grow at a
CAGR of 8.7% from 2016 to 2024.
·
North America hydrofracking industry dominated
the global demand and is anticipated to remain the largest regional market over
the forecast period. The regional market is anticipated to witness moderate
growth over the next eight years to exceed a net worth of USD 65.0 billion by
2024.
·
Asia Pacific is anticipated to witness the
fastest growth over the forecast period owing to large available technically
recoverable unconventional oil & gas reserves and increasing FDI flow in
the hydrocarbon sector in China, India, and Australia. The region accounted for
6.6% of the global revenue in 2015 and is expected to grow at a CAGR of 12.1%
over the next eight years.
·
The global hydraulic fracturing market was
dominated by major oilfield services companies including Baker Hughes,
Schlumberger, Halliburton, Weatherford, Calfrac Well Services, Cudd Energy and
FTS International.
Browse All Reports of
this category @ http://www.grandviewresearch.com/industry/conventional-energy
Grand View Research has segmented the hydraulic
fracturing market on the basis of technology, material, application and region:
Global Hydraulic Fracturing Technology
Outlook (Revenue, USD Million, 2014 - 2024)
·
Plug & Perf
·
Sliding Sleeve
Global Hydraulic Fracturing Material
Outlook (Revenue, USD Million, 2014 - 2024)
·
Proppant
·
Sand
·
Ceramic
·
Resin Coated Sand
·
Others
Global Hydraulic Fracturing Application
Outlook (Revenue, USD Million, 2014 - 2024)
·
Shale Gas
·
Tight Gas
·
Tight Oil
·
CBM
·
Others
Global Hydraulic Fracturing Regional
Outlook (Revenue, USD Million, 2014 - 2024)
·
North America
·
U.S.
·
Canada
·
Mexico
·
Europe
·
UK
·
Russia
·
Poland
·
Asia Pacific
·
China
·
Australia
·
Middle East & Africa
·
UAE
·
Algeria
·
South Africa
·
Central & South America
·
Brazil
·
Argentina
·
Venezuela
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