The global hydraulic fracturing market is anticipated to grow at a CAGR of 7.6% during the forecast period. The global hydraulic fracturing market is growing at a modest rate due to the rise in the adoption of hydraulic fracturing in the oil & gas market for shale exploration and production. Significant investment from government and private players is expected to boost the global hydraulic fracturing market. For instance, in August 2021, NexTier Oilfield Solutions announced the acquisition of Alamo Pressure Pumping, LLC. With this acquisition, NexTier Oilfield Solutions will operate the third-largest base of active hydraulic horsepower across the US and the largest base of next-generation equipment in the Permian Basin. Additionally, R&D investment and research programs are guiding the market to explore shale gas through safe technology without harming the environment. However, the requirement for a huge amount of water and chemicals in the global hydraulic fracturing market is restraining the market growth. Stringent government regulations & policies may also affect the market growth. Concerns for water contamination, seismic wave formation, and sliding crude oil prices are expected to affect market growth. However, huge demand in the Asia-Pacific region and the adoption of waterless fracturing foams are expected to boost the market.
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The COVID-19 pandemic negatively impacted the global hydraulic fracturing market. During COVID-19, as of May 2020, 212 countries had been impacted by the pandemic, and the governments of these countries had ordered nationwide lockdowns which disrupted the supply chain operation of several industries. As a result, there was a considerable decline in transportation and related activities which in turn impacted the demand for oil and gas. According to the International Energy Agency (IEA) report, in March 2020, the geopolitical events increased the supply of low-priced oil to the global market while simultaneously the demand declined due to the outbreak of the pandemic. These in turn affected the demand for oil and natural gas, as well as for hydraulic fracturing services and products. However, as the COVID-19 situation normalizes, the global Hydraulic Fracturing market started to recover as industrial operations were normalized after the recovery.
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- Market Coverage
- Market number available for – 2022-2028
- Base year- 2021
- Forecast period- 2022-2028
- Segment Covered- By Source, By Product Type, By Applications
- Competitive Landscape- Archer Daniels Midland Co., Ingredion Inc., Kerry Group Plc, Cargill Inc., and others
Market Segmentation
Global Hydraulic Fracturing Market by Application
- Conventional Hydraulic Fracturing
- Tight Gas Hydraulic Fracturing
- Shale Gas Hydraulic Fracturing
- Tight Oil Hydraulic Fracturing
- Coal Bed Hydraulic Fracturing
- Others
Global Hydraulic Fracturing Market by Technology
- Sliding Surface
- Plug & Perf
- Others
Global Hydraulic Fracturing Market by Material
- Proppant
- Sand
- Ceramic
- Resin Coated Sand
- Others
Global Hydraulic Fracturing Market by Shale Type
- Bakken Shale
- Antrim Shale
- Woodford Shale
- Marcellus Shale
- Haynesville Shale
- Fayetteville Shale
- Eagle ford Shale
- Barnett Shale
- Others
Regional Analysis
- North America
- United States
- Canada
- Europe
- UK
- Germany
- Italy
- Spain
- France
- Rest of Europe
- Asia-Pacific
- China
- India
- Japan
- South Korea
- Rest of Asia-Pacific
- Rest of the World
Company Profiles
- Baker Hughes Inc.
- BP PLC
- C&J Energy Services Inc.
- Calfrac Well Services Ltd.
- Cudd Energy Services.
- EXXONMOBIL
- Halliburton
- Nabors Industries Ltd.
- Patterson-Uti Energy, Inc.
- Petrobras
- Royal Dutch Shell PLC
- RPC, INC.
- Schlumberger Ltd.
- Equinor Asa
- Superior Well Services Inc.
- Tacrom Services S.R.L.
- Trican Well Service Ltd.
- UOS Drilling S.A.
- Weatherford International PLC
The Report Covers
- Market value data analysis of 2021 and forecast to 2028.
- Annualized market revenues ($ million) for each market segment.
- Country-wise analysis of major geographical regions.
- Key companies operating in the global hydraulic fracturing market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.
- Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
- Analysis of market-entry and market expansion strategies.
- Competitive strategies by identifying ‘who-stands-where’ in the market.
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