Hydraulic fracturing market to witness a substantiate growth from 2026 to 2024.

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Global Hydraulic Fracturing Market Analysis
Industry Report, 2024
Wo rth 25.5bn by 2024
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Hydraulic Fracturing Industry Overview
Increasing demand for crude oil will provide a
major push to the already booming hydraulic
fracturing market share over the coming seven
years. According to the Global Market Insights,
Inc., Worldwide hydraulic fracturing market is
projected to surpass a revenue of USD 68 billion
by 2024. Escalating industrialization and
urbanization along with the abundance of the
unconventional resources such as tight gas oil,
shale gas liquids will be some of the pivotal
factors generating heavy growth opportunities for
hydraulic fracturing industry over the next few
years. Hydraulic fracturing market finds major
application across areas such as shale gas, crude
oil, tight oil, and tight gas. Hydraulic
fracturing industry share in shale gas
applications will reach a revenue of over USD 15
billion by 2024, owing to the rising demand from
power plant industries for natural gas for a
better fuel efficiency. The growing awareness
along with strict governmental rules
regulations regarding carbon emission will fuel
the demand for natural gas.
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Continued
Crude oil contributed towards 14 of the global
hydraulic fracturing industry share in 2015 and
is anticipated to collect a noticeable revenue
over the coming timeframe. The growing automobile
and manufacturing sector will boost the demand
for crude oil, which will impact hydraulic
fracturing market size lucratively. Sliding
sleeve and plug-and-perforation are the key
technologies of the hydraulic fracturing market.
Sliding sleeve technology will collect
considerable revenue by 2024, due to its
increasing applications in open hole wells. Plug
and perforation technology accounted for more
than 70 of the global industry share in 2015 and
is expected to register a lucrative growth rate
over the coming years. The escalating need for
this technology for fracturing in the horizontal
well will augment the industry growth. Based
on the drilling direction, horizontal and
vertical are the two main types of the well.
Horizontal well hydraulic fracturing industry is
poised to register a CAGR of over 13 over the
period of 2016 to 2024, owing to its extensive
application across the oil gas industries. In
addition, around 77 of the wells were drilled
horizontally across the U.S. in 2015.
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Russia Hydraulic Fracturing Market Size, by
application 2013-2024 (USD Billion)

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Key insights from the Report include

• U.S. hydraulic fracturing industry share worth
  USD 12 billion in 2015, is predicted to exhibit
  an attractive growth rate over the coming years,
  owing to the growing investigation and production
  of the unconventional resources such as tight oil
  and shale gas. Additionally, availability of the
  advanced technology and skilled manpower will
  influence the hydraulic fracturing market
  notably.
• Saudi Arabia hydraulic fracturing industry
  collected a revenue of more than USD 100 million
  in 2015 and will grow noticeably over the coming
  timeline. The growth can be attributed to the
  increasing investment across the oil and gas
  projects.
• Schlumberger Limited, Baker Hughes, FTS
  International, Calfrac Well Services, Weatherford
  International, Superior Energy Services,
  Haliburton, Trican Well Service, and Tacrom
  Services S. R. L are some of the notable
  participants in the hydraulic fracturing market.
  Other key players include Patterson UTI, Franklin
  Oil Co. Inc., and ConocoPhillips Corporation.

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