Hydraulic Fracturing Market Analysis, Growth Opportunities and Recent Trends by Application 2021 to 2024

Posted on 2021-05-04 by researchinsights in Industrial // 0 Comments

San Jose, California , USA, May 04, 2021 — /EPR Network/ —

Global Hydraulic Fracturing Market is anticipated to reach USD 81.10 billion by 2024. Hydraulic fracturing is a technique widely used for the extraction of natural gas and crude oil. The method of hydraulic fracturing primarily involves injection of water along with the chemical additives and propping agents at a very high temperature and pressure to create a network of fractures to improve the rock permeability.

The factors that propel the growth of the hydraulic fracturing market include increase in the rate of production, the surge in demand for energy, and the increase in inclination toward production and rising demand for oil & gas, increased shale oil & gas revolution, the increased government spending, and favorable government rules and regulations.

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On the other hand, there are factors that may hamper the growth of the market including high operational expenses. Hydraulic fracturing industry is anticipated to grow at a significant CAGR in the upcoming period as the scope, product types, and its applications are increasing across the globe.

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

Some of the key players that fuel the market growth of the hydraulic fracturing comprise National Oilwell Varco, Inc., Baker Hughes GE, FracChem LLC., Patterson-UTI Energy, U.S. Silica Holdings, TechnipFMC, Nuverra, Schlumberger, Halliburton, US Well Services, and FTS International. The leading companies are taking up partnerships, mergers and acquisitions, and joint ventures in order to boost the inorganic growth of the industry.

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Key questions answered in the report include:

What will be the market size in 2024?
What are the growth opportunities of Hydraulic Fracturing market in upcoming period?
What strategies are the market players adopting to ensure sustainability?
Which region or country driving the demand of Hydraulic Fracturing market?
How and where market players should focus to gain maximum ROI?

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