The global hydraulic fracturing market is anticipated to garner a CAGR of 14% during the forecast period (2018-2023), Market Research Future (MRFR) unveils in a detailed report. Hydraulic fracturing is a technique extensively used to extract natural gas and crude oil. In this process, injection of water, chemical additives, and propping agents are allowed at high temperature and pressure, which boost the permeability of the rock.

The surging demand for fuel from developing countries has resulted in the large-scale production of shale oil. As most shale rocks are semi-permeable, the oil produced is called tight oil. Thus, conventional drilling techniques to extract oil from these rocks are inefficient. Hydraulic fracturing technology thus gains from the rising production of shale and surging demand for energy fuels.

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The revolution of shale oil & gas, increased demand for oil & gas, and growing concern for the depletion of natural resources are some of the major factors triggering the demand from the hydraulic fracturing market across the globe. The US, Canada, China, and Argentina were the four countries to produce shale oil & gas commercially back in 2015. The increased shale revolution has led other nations like Russia, Algeria, Australia, Mexico, and Colombia to participate in the production of shale. This has positively impacted the growth of the hydraulic fracturing market.

Competitive Dashboard

The top players dominating the global hydraulic fracturing market include Schlumberger (U.S.), Baker Hughes GE (U.S.), Patterson-UTI Energy (U.S.), National Oilwell Varco, Inc. (U.S.), TechnipFMC (UK), FracChem LLC. (U.S.), Halliburton (U.S.), U.S. Silica Holdings (U.S.), FTS International (U.S.), Nuverra (U.S.), Franklin Well Service LLC (U.S.), US Well Services (U.S.), and EOG Resources (U.S.).

Global Hydraulic Fracturing Market Segmental Analysis

The hydraulic fracturing market is segmented on the basis of technology, well type, and application.

By technology, the hydraulic fracturing market is segmented into sliding sleeve, plug-and-perforation, and others.

By well type, the hydraulic fracturing market is segmented into horizontal and vertical.

By application, the market is segmented into shale gas, crude oil, tight oil, and others.

Regional Frontiers

Geographically, the hydraulic fracturing market spans across Asia Pacific, North America, Europe, and the Middle East & Africa.

Considering the global scenario, North America is predicted to dominate the global market in terms of share. As the production of shale oil and gas is constantly on the rise every year in Canada and the US, the demand for hydraulic fracturing is increasing. As per the US EIA, the overall tight oil produced in the US in 2017 was 4.67 million barrels per day.

The Asia Pacific region will emerge as a significant region due to the heavy investment by developing countries like China, Australia, and Indonesia through FDI channels.

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