Crude Oil Fracking to Witness Significant Growth in North America Hydraulic Fracturing Market Through 2025
Growing energy demand spurred by ongoing expansion of
industrial and commercial sectors to drive the growth of North America hydraulic
fracturing market
According
to TechSci Research report, “North America Hydraulic Fracturing
Market By
Well Type, By Technology, By Application, By Country, Forecast &
Opportunities, 2025”, the North America hydraulic
fracturing market is expected to grow at a steady CAGR during the forecast
period owing to the increasing unavailability of easy oil. Additionally, growing
demand for longer lateral services and stabilizing rate of drilled but
uncompleted (DUC) well inventory is anticipated to further propel the market
during the next five years. However, environmental
concerns and lack of capital market & incentives can hamper the growth of
the market during forecast period.
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The North America hydraulic fracturing market is segmented based on well
type, technology, application, country and company. Based on well type, the
market can be divided into horizontal and vertical. The vertical segment is
expected to witness significant growth over the forecast years since it
requires low volume and pressure as compared to the horizontal wells. Based on
technology, the market can be bifurcated into plug & perf and sliding
sleeve. The sliding sleeve segment is expected to register the highest CAGR through
2025 attributable to its low cost. Additionally, it takes lesser time as
compared to the plug & perf technology. Based on application, the market
can be categorized into crude oil, shale gas, tight gas, coal bed methane and
others. The crude oil fracking segment is anticipated to dominate the market
during the coming years declining production rate of exiting reservoirs along
with growing number of mature fields.
Weatherford International plc, United
Oilfield Services Inc, Cudd Pressure Control, Inc, Calfrac Well Services Ltd., Trican
Well Service Ltd., Superior Well Services, Inc., Patterson-UTI, ConocoPhilips, Baker
Hughes, a GE company, Schlumberger Limited and others are some of the
leading players operating in North America hydraulic fracturing market.
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“The hydraulic
fracturing market in North America is expected to witness exponential growth
during the forecast period on account of the rapid shale development along with
ongoing discoveries of new oil & gas fields in the region. Additionally, availability of key resources including technology,
skilled manpower and government aid, increasing exploration and production
activities in unconventional reserves are further projected to spur the market growth
through 2025.” said Mr. Karan Chechi, Research Director with TechSci Research,
a research-based global management consulting firm.
“North America Hydraulic Fracturing Market By Well
Type, By Technology, By Application, By Country, Forecast & Opportunities,
2025” has
evaluated the future growth potential of North America hydraulic fracturing market
and provides statistics & information on market size, structure and future
market growth. The report intends to provide cutting-edge market intelligence
and help decision makers take sound investment decisions. Besides, the report
also identifies and analyzes the emerging trends along with essential drivers,
challenges and opportunities in North America hydraulic fracturing market.
Contact
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New York – 10017
Tel: +1-646-360-1656
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