As per our recent research analysis, it is expected that the size of the Global Pressure Pumping Market was worth USD 83.65 billion in 2019 and is expected to register a CAGR of 4.1% from 2019 to 2024.
This is owing to the increased activities in the production and exploration of unconventional shale gas, by which further operations will get coupled like sand controlling, enhanced oil recovery (EOR), services cementing, and acidization. And the services of pressure pumping are implement-ed in the mature reservoirs which face the difficulty in extraction of oil are propelling the growth of the pressure pumping market.
Also, rising processes like waterless fracturing-foam, an alternative to hydraulic fracturing in which liquefied petroleum gas (LPG) which uses propane liquefied into a gel, are expected to cre-ate further opportunities for the market. In the waterless fracturing-foam, propane is inserted into a shale rock formation in the place of water, and this usage of propane does not block all path-ways. Therefore more natural gas is released in this process. Due to the advantage of the usage of the waterless fracture-foam, its adoption is rising globally.
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Recent developments
• BJ Services, a leading worldwide provider of pressure pumping and oilfield services for the petroleum industry, commences field trials for natural gas, fueled fracturing technolo-gy.
• Fluor, an American multinational engineering and construction firm headquartered in Ir-ving, Texas, has announced that it is going to provide project management consultancy services for BPCL’s polyols petrochemicals project in India.
Market drivers and restraints
The rising demand for energy and surge for the recoverable explorations, resources, and produc-tions is one of the significant factors for the growth of the global pressure pumping project. Also, increasing investments made by the major players in oil and gas companies on drilling activities is the factor that is fuelling the market.
However, expensiveness in the initial installation process and the increasing number of drilled but uncompleted wells in various regions are hindering the growth of the pressure pumping market.
And the factors like strict government regulations, concerns related to contamination of water, and earth seismic activity are some factors that are hampering the global pressure pumping market.
In addition, lack of labor who are trained or got skilled in managing the applications of pressure pumping technologies is lagging the growth of the market.
The increasing shale gas basins & usage of unconventional sources are anticipated to create the opportunities for the global pressure pumping market during the forecast period.
Report Segmented as
Pressure Pumping Market- By well type
• Land
• Onshore
Pressure Pumping Market- By Service type
• Remedial Cementing
• Cementing Services
• Hydraulics & Fracturing
Geographical Analysis
• North America
• Europe
• Asia-Pacific
• South America
• Middle East & Africa
In the regional analysis of the global Pressure Pumping Market, North America, and Europe are having a major market share. One of the major factors that are fuelling the growth of these regions is the increasing capita income in developed & developing countries in these regions.
The Asia-Pacific region is anticipated to register a high CAGR during the forecast period owing to the launch of various products in the pressure pumping technology and the acceptance of the latest technologies by the consumers.
Key market players
• National Oilwell Varco
• Fluor corporation
• Key Energy Services
• Sanjel Energy Services
• Frac tech services international,
• Advanced Cementing Services Inc.
• Baker Hughes A GE Co.
• BJ Services
• Nine Energy Services
• C&J Energy Services, Inc.
• Liberty Oilfield Services
• Calfrac Well Services Ltd
• China Oilfield Services Limited
• Eneroil Offshore Drilling Ltd
• Halliburton Company
• Saipem SpA
• Schlumberger Limited
• Superior Oilfield Services Inc.
• Trican Well Services Corporation
• Weatherford International Inc
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