The MarketResearchFuture analysis indicated that a massive surge in investment in renewables, energy efficiency and other clean energy technologies could drive declines in global demand and investment in Pressure Pumping market.
The Pressure Pumping Market report 2022 includes enabling technologies, key trends, market drivers, challenges, global standardization, regulatory regional landscape, deployment models, case studies, opportunities, future roadmaps, value chains, historical and forecasted data of top market player profiles. This Pressure Pumping industry is a multi-billion-dollar business, with the Europe region dominating the global landscapes. It is an integral part of modern life, yet even though it has existed for over a century, the Pressure Pumping Market has changed dramatically in time to time. Traditional markets such as Europe and North America are now being joined by emerging economies such as Asia Pacific.
The pressure pumping market size is projected to reach USD 84.78 billion by 2025 with an estimated 6% CAGR from 2021 to 2027.
Pressure Pumping Market Overview
Pressure pumping is a propagation of fractures through layers of rock using pressurized fracturing fluid and pumping the cement into the well bore to complete it. It is primarily used to extract resources from low permeability reservoirs such as shale gas, and unconventional liquids, which are difficult to recover through regular drilling procedures.
New oil reserve discoveries increase the drilling and exploration activities in coming years which upsurge the demand for the market. For example, in Liberia, Exxon Mobile Corporation is planning to start oil drilling in its recently found oil reserves by 2018. Moreover, global increasing demand for energy cross the globe has resulted in rapid increase in the offshore drilling activities to meet the increasing demand, which ultimately has provided significant boost to the Pressure Pumping market. However, stringent government regulation as well as high installation cost of pressure pumping systems are the factors may hinder the market growth of the market.
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Globally Major key Players accelerates the Pressure Pumping Market is Baker Hughes, a GE Company (US), Halliburton (US), Schlumberger (US), Weatherford International Inc. (US), Trican (Canada), RPC Inc. (US), Key Energy Services (US), Sanjel Corporation (Canada), Frac Tech Services International (US), Calfrac Well Services Ltd. (Canada), China Oilfield Services Ltd. (China), Saipem S.p.A. (Italy), Patterson-UTI Energy, Inc. (US), National Oilwell Varco (US), and Superior Energy Services (US), and Others.
Pressure Pumping Market Industry Aspects:
- International Energy Agency (IEA) - the energy prospects for Southeast Asia have been affected by the Covid-19 pandemic, new energy and climate policy commitments and, most recently, high and volatile prices exacerbated by the Russian Federation’s (hereafter, “Russia”) invasion of Ukraine. Covid-19 led to a major economic shock for countries in Southeast Asia and the economic recovery now risks being slowed by higher energy prices.
- Russia’s unprovoked invasion of Ukraine has had far-reaching impacts on the global energy system, disrupting supply and demand patterns and fracturing long-standing trading relationships.
- China and the United States each registered gigawatt-scale additions. Utility-scale installations continue to dominate the market, accounting for around two-thirds of total added capacity. Although new policies and projects in key markets are set to accelerate growth, an even faster rise is needed to align with the Net Zero Emissions by 2050 Scenario, which sees nearly 600 GW of battery storage capacity installed by 2030.
Most important Segments of Pressure Pumping Market covered in this report are:
Based on services, the market has been segmented into cementing, hydraulics fracturing, and others. Hydraulics fracturing dominates the service segment of global market. Hydraulics fracturing is a process of pumping fluid into a wellbore to create enough pressure to crack, or fracture, the rock layer. The fluid usually contains a proppant like sand, that helps keep the fractures open to allow oil and gas to be produced to the well. Cementing services is the second major segment for pressure pumping market and it is expected to witness strong growth over the forecast period.
Based on well type, the market has been segmented land and offshore. Onshore dominates the well type segment of global market. Offshore segment is expected to be the fastest growing segment during the forecast period. Increasing the exploration activities in deep and ultra-deep waters especially in the North Sea, and Gulf of Mexico is expected to drive demand in the sector over the forecast period.
Pressure Pumping Industry Influence of the global market report: –Comprehensive assessment of all opportunities and risks in the Pressure Pumping Market. –Pressure Pumping Market recent innovations and major events. –A detailed study of business strategies for the growth of the Pressure Pumping Market market-leading players. –Conclusive study about the growth plot of Pressure Pumping Market for forthcoming years. –In-depth understanding of Pressure Pumping Market, market-particular drivers, constraints, and major micro markets. –Favorable impression inside vital technological and market latest trends striking the Pressure Pumping Market.
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The Pressure Pumping Market report explores the current outlook in global and key regions (North America, Europe, Asia-Pacific, and Latin America) from the perspective of players, countries (U.S., Canada, Germany, France, U.K., Italy, Russia, China, Japan, South Korea, Taiwan, Southeast Asia, Mexico, and Brazil, etc.), product types, and end industries.
What are the market factors that are covered in the report?
-Key Strategic Developments: The study also includes the key strategic developments of the Pressure Pumping market, comprising R&D, new product launch, M&A, agreements, collaborations, partnerships, joint ventures, and regional growth of the leading competitors operating in the market on a global and regional scale.
-Key Market Features: The Pressure Pumping Market report evaluated key market features, including revenue, price, capacity, capacity utilization rate, gross, production, production rate, consumption, import/export, supply/demand, cost, market share, CAGR, and gross margin. In addition, the study offers a comprehensive study of the key market dynamics and their latest trends, along with pertinent market segments and sub-segments.
The research includes historic data from 2017 to 2021 and forecasts until 2030 which makes the reports an invaluable resource for industry executives, marketing, sales and product managers, consultants, analysts, and other people looking for key industry data in readily accessible documents with clearly presented tables and graphs.
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