Pressure Pumping Market Size, Share, & Forecast 2027

 

Pressure Pumping Market

The Pressure Pumping Market is expected to grow at significant CAGR during the forecast period (2020-2027).

The factors driving the growth of Pressure Pumping Market includes increasing exploration activities in the Oil and Gas Industry, growing energy consumption around the world, growing adoption of hydraulic fracturing techniques and rising demand for robotics in the industrial sector. According to the IEA’s semi-annual Electricity Market Report, the global electricity demand is expected to increase by 5% in 2021 as compared to 2020, primarily in India and China, which will boost the Pressure Pumping Market share in the approaching years. Moreover, the rapid industrialization, advancements in new technologies, increasing application of pressure pumping in well completion and well stimulation and rise in the prices of oil & gas commodity, are some of the additional factors supplementing the Pressure Pumping Market size. In addition, the rising disposable incomes, increasing Foreign Direct Investments (FDI) inflows in the developing Countries and growing population rates, are further pushing the market’s growth.

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However, the growth of Pressure Pumping Market is hindered attributed to high installation cost of pressure pumping systems.

The major players operating in the market are Weatherford, FTS International, TRICAN, Patterson-UTI Energy, Inc., Baker Hughes Company, Schlumberger Limited, Calfarc Well Services Ltd., RPC Inc., Sanjel Energy Services and Halliburton, among others.

Type – Segment Analysis

Based on Type, the hydraulic fracturing segment is anticipated to expand at a robust CAGR over the forecast period. The increasing application of hydraulic fracturing to enhance the production of oil and natural gas and increasing Government’s expenditure on purchasing crude oil, are some of the factors responsible for the growth of the segment.

Well Type – Segment Analysis

Based on Well Type, the horizontal well type segment is projected to capture the largest market share during the forecast period because it helps in increasing productivity and minimizes the pressure drop near the wellbore.

Regional – Segment Analysis

Based on region, the North American region is predicted to lead the market during the forecast period. The presence of the leading players such as Baker Hughes, Halliburton, and Schlumberger, increasing energy demand from the different industries, high per capita incomes and improvements in the living the standards, are some of the important factors influencing the market growth in North American region.

Market Segmentation

Global Pressure Pumping Market by Type

  • Hydraulic Fracturing
  • Cementing
  • Others

Global Pressure Pumping Market by Well Type

  • Horizontal
  • Vertical
  • Directional

Global Pressure Pumping Market by Region

  • Asia Pacific
    • China
    • Japan
    • India
    • Rest of APAC
  • North America
    • United States of America
    • Canada
  • Europe
    • United Kingdom
    • Germany
    • France
    • Spain
    • Rest of Europe
  • RoW
    • Brazil
    • South Africa
    • Saudi Arabia
    • UAE

About GMI Research

GMI Research is a market research and consulting firm which provides market insights and intelligence across 12 major sectors helping our clients in making effective investment and business decisions.

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