What is the global market size of the Hydraulic Fracturing Market?

Global Hydraulic Fracturing Market size was valued at USD 34.1 billion in 2021 and is poised to grow from USD 36.69 billion in 2022 to USD 70.94 billion by 2030, growing at a CAGR of 7.6% in the forecast period (2023-2030).

Hydraulic Fracturing Market Size, Share, Growth Analysis, By Well Type (Horizontal, Vertical), By Technology (Plug & Perf, Sliding Sleeve), By Application (Shale Gas, Tight Oil), By Region -Industry Forecast 2024-2031.

Report ID: SQMIG20I2216 | Region: Global | Published Date: November, 2024
Pages: 157 | Tables: 89 | Figures: 76

Hydraulic Fracturing Market Dynamics

Hydraulic Fracturing Market Driver

According to the hydraulic fracturing market report, rapidly increasing demand for oil, gas, and other petroleum products, as well as the growing demand for advanced hydraulic equipment, particularly for exploration, will drive market growth, as it is helping to increase hydraulic fracturing market share throughout the forecast period.

Increasing E&P in unorthodox oil and gas reserves, particularly in shale basins, is expected to continue to be a key driver of market growth.

Hydraulic Fracturing Market Restraint

Due to the potential environmental risk, multiple governments around the world and regulatory authorities such as the EPA and REACH are expected to impose stringent regulations and safety mandates, which is restricting market growth over the forecast period.

Hydraulic Fracturing Market Report Snapshots

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Global Hydraulic Fracturing Market size was valued at USD 49.20 billion in 2022 and is poised to grow from USD 52.89 billion in 2023 to USD 94.33 billion by 2031, growing at a CAGR of 7.50% during the forecast period (2024-2031).

Global hydraulic fracturing market is highly competitive and somewhat fragmented. To maintain a competitive edge, the major industry participants are continually implementing various growth strategies. Innovations, mergers, and acquisitions, collaborations and partnerships are adopted by these players to thrive in the competitive market. In order to provide industries with the most effective and economical solutions, the major market players are also continually concentrating on R&D. 'Halliburton ', 'Liberty Oilfield Services LLC ', 'SLB ', 'Baker Hughes Company ', 'Trican ', 'Step Energy Services ', 'Weatherford ', 'Profrac Holding Corp. ', 'Calfrac Well Services Ltd. ', 'TechnipFMC PLC ', 'Patterson-UTI Energy, Inc. ', 'ProPetro Holding Corp. ', 'Petro Welt Technologies AG ', 'Nine Energy Service ', 'National Energy Services Reunited Corp. ', 'GD Energy Products, LLC ', 'Anton Oilfield Services ', 'TAM International, Inc. ', 'Tacrom ', 'AFG Holdings, Inc. '

According to the hydraulic fracturing market report, rapidly increasing demand for oil, gas, and other petroleum products, as well as the growing demand for advanced hydraulic equipment, particularly for exploration, will drive market growth, as it is helping to increase hydraulic fracturing market share throughout the forecast period.

Energy demand is increasing in developing countries such as India and China, and hydraulic fracturing will keep increasing and benefit these countries in order to meet this demand and boost growth. This in turn, increasing the market size globally.

Due to the presence of key countries such as Canada and the United States, North America is expected to dominate the global hydraulic fracturing market during the forecast period. Furthermore, high market penetration in these regions can be influenced by the availability of essential resources such as skilled labour, technology, and government assistance, as well as increased exploration and production activities in unconventional reserves.

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Hydraulic Fracturing Market Size, Share, Growth Analysis, By Well Type (Horizontal, Vertical), By Technology (Plug & Perf, Sliding Sleeve), By Application (Shale Gas, Tight Oil), By Region -Industry Forecast 2024-2031.

Hydraulic Fracturing Market Dynamics

Hydraulic Fracturing Market Report Snapshots

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