IMARC Group, a leading market research company, has recently releases report titled “Hydraulic Fracturing Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028.” the study provides a detailed analysis of the industry, including the global hydraulic fracturing market share, size, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.

Report Highlights

How big is the hydraulic fracturing market?

Report Attributes - Details

Market Size in 2022 - US$ 44.4 Billion

Market Forecast in 2028 - US$ 65.5 Billion

Growth rate (2023 to 2028) - CAGR of 6.3%

Base Year of the Analysis - 2022

Forecast Period - 2023-2028

What is Hydraulic Fracturing?

Hydraulic fracturing is used to extract natural gas and oil from deep underground formations. Commonly known as fracking, the process involves injecting a mixture of water, sand, and chemicals at high pressure into a wellbore to create fractures in the rock, allowing the trapped hydrocarbons to flow more freely. One of the key characteristics of hydraulic fracturing is its ability to access previously inaccessible resources. It enables the extraction of natural gas and oil from tight formations, such as shale, that have low permeability. This technology has revolutionized the energy industry by unlocking vast reserves of hydrocarbons. The features of hydraulic fracturing include its efficiency and cost-effectiveness. Fracking allows for the extraction of significant amounts of oil and gas from a single well, reducing the need for numerous wells to be drilled. Hydraulic fracturing finds its application primarily in the oil and gas industry.

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What are the growth prospects and trends in the hydraulic fracturing industry?

The widespread advancements in drilling techniques, such as horizontal drilling and multi-stage fracturing, have improved the efficiency and productivity of hydraulic fracturing operations, which is influencing the market growth. Moreover, economies with significant shale resources are using hydraulic fracturing to reduce dependence on energy imports, thereby enhancing energy security and independence, which is acting as a growth inducing factor. Besides this, hydraulic fracturing operations generate substantial economic benefits, including job creation, tax revenues, and increased local economic activity, which, in turn, is contributing to the market growth. The discovery and exploitation of vast shale gas reserves have transformed the energy landscape. Hydraulic fracturing has played a crucial role in unlocking these reserves, leading to increased production and thereby positively impacting the growth of the market. The increased production of natural gas through hydraulic fracturing has helped lower energy costs for industries and consumers, thus boosting the market growth. The market is also driven by the increasing inclination toward cleaner energy sources. Since natural gas extracted through hydraulic fracturing serves as a bridge fuel, this is supporting the growth of the market.

The increasing demand for natural gas as a cleaner alternative to coal in power generation is fostering the market growth of hydraulic fracturing. The development of hydraulic fracturing operations requires significant investments in infrastructure, including pipelines, storage facilities, and processing plants. This, in turn, is contributing to the market growth. Countries with emerging shale resources are adopting hydraulic fracturing technologies and techniques from more developed regions, which is leading the market toward growth. Furthermore, stable and supportive regulatory frameworks that address environmental concerns while enabling responsible hydraulic fracturing practices are also encouraging the market growth. Other factors, such as research and development (R&D) efforts to improve the performance and environmental impact of hydraulic fracturing fluids, advancements in water treatment and recycling technologies, the growing demand for petrochemical products, and significant technological advancements, are creating a positive outlook for the market further across the globe.

Who are the key players operating in the industry?

The report covers the major market players including:

• Afg Holdings Inc
• Archer Limited
• Baker Hughes Company
• Basic Energy Services Inc.
• Calfrac Well Services Ltd.
• Fts International Inc.
• Halliburton Company
• Legend Energy Services
• Liberty Oilfield Services Inc.
• Nextier Oilfield Solutions Inc.
• Nine Energy Services
• Patterson-Uti Energy Inc.

What is included in market segmentation?

The report has segmented the market into the following categories:

Breakup by Well Type:

• Horizontal
• Vertical

Breakup by Fluid Type:

• Slick Water-based Fluid
• Foam-based Fluid
• Gelled Oil-based Fluid
• Others

Breakup by Technology:

• Plug and Perf
• Sliding Sleeve

Breakup by Application:

• Shale Gas
• Tight Oil
• Tight Gas

Breakup by Region:

• North America (United States, Canada)
• Europe (Germany, France, United Kingdom, Italy, Spain, Others)
• Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
• Latin America (Brazil, Mexico, Others)
• Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Others)

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Key Highlights of the Report:

• Market Performance (2017-2022)
• Market Outlook (2023-2028)
• Market Trends
• Market Drivers and Success Factors
• The Impact of COVID-19 on the Global Market
• Value Chain Analysis
• Structure of the Global Market
• Comprehensive mapping of the competitive landscape

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