Hydraulic Fracturing Market Size Worth $27.54 Billion By 2032 | CAGR: 9.4%

The global hydraulic fracturing market size is expected to reach USD 27.54 billion by 2032, according to a new study by Polaris Market Research. The report “Hydraulic Fracturing Market Share, Size, Trends, Industry Analysis Report, By Well Type (Horizontal, Vertical); By Technology; By Application; By Region; Segment Forecast, 2023 - 2032” gives a detailed insight into current market dynamics and provides analysis on future market growth.

A common method for extracting natural gas and petroleum from the deposit is hydraulic fracturing. In principle, it works by injecting a high-viscosity liquid into the drilled well and maintaining high pressure at the well's bottom using a high-pressure pump on the ground. According to the 2017 Energy Information Administration Report, tight oil is expected to make up most of U.S. oil production through 2040. This will further create new growth potential for the hydraulic fracturing market throughout the study period.

There have been significant decreases in greenhouse gas emissions because of the recent revolution in energy output, which was sparked by the fast expansion of un-conventional gas & oil development in the U.S. Based on the article published in ExxonMobil, over the past 60 years, more than 1 million wells have used hydraulic fracturing at the global level. This trend is further boosting research and development activities in hydraulic fracturing operations.

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Oil and gas flow from petroleum-bearing rock formations can be increased by using hydraulic fracturing, a well technique frequently utilised in low permeability rocks such as tight sand-stone, shale, & nearby coal beds. The rising demand for energy is stimulating the adoption of un-conventional energy resources like shale gas, tight oil, or tight gas. This will increase the adoption of hydraulic fracturing operations due to their effectiveness in extracting energy.

According to an official from OPEC, the demand for all types of energy is expected to increase by 23% globally through 2045. As a proxy for demand, the EIA predicts that total petroleum consumption in the US will increase by 100,000 bpd this year to 20.4 million bpd and by another 400,000 bpd in 2024 to 20.8 million bpd. This ongoing trend will contribute to the expansion of the hydraulic fracturing industry soon.

Hydraulic Fracturing Market Report Highlights

• Horizontal segment is anticipated to witness the highest growth in the coming years due to its ability to extract more oil and gas.
• Plug and perf segment accounted for the largest market share owing to its increased operational performance.
• Shale gas segment held the largest share, due to the presence of higher shale gas reserves.
• APAC held the largest share, owing to the existence of un-conventional energy resources in the region, primarily in China.
• North America is expected to have the fastest growth owing to the increasing extraction activities of shale gas.
• The global players include AFG Holdings, Baker Hughes, Calfrac Well Services, GD Energy Products, Halliburton, Nine Energy Services & ProPetro Holding.

Polaris Market Research has segmented the hydraulic fracturing market report based on type, technology, application and region:

Hydraulic Fracturing, Well Type Outlook (Revenue - USD Billion, 2019 - 2032)

• Horizontal
• Vertical

Hydraulic Fracturing, Technology Outlook (Revenue - USD Billion, 2019 - 2032)

• Plug & Perf
• Sliding Slee

Hydraulic Fracturing, Application Outlook (Revenue - USD Billion, 2019 - 2032)

• Shale Gas
• Tight Oil
• Tight Gas

Hydraulic Fracturing, Regional Outlook (Revenue - USD Billion, 2019 - 2032)

• North America
  • U.S.
  • Canada
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
  • Russia
  • Netherlands
• Asia Pacific
  • China
  • India
  • Japan
  • South Korea
  • Indonesia
  • Malaysia
• Latin America
  • Argentina
  • Brazil
  • Mexico
• Middle East & Africa
  • UAE
  • Saudi Arabia
  • Israel
  • South Africa

Hydraulic Fracturing Market Report Scope