Rising exploration & production (E&P) in unconventional oil & gas reserves including shale basins is estimated to spur the growth of the market.
The Global Pressure Pumping Market size is expected to reach USD 75.1 billion by 2025, according to a new report by Grand View Research, Inc., progressing at a CAGR of 4.1% during the forecast period.
Increasing prominence of unconventional reserves including coalbed methane (CBM), shale, tight oil, and tight gas is likely to drive the market over the next few years. Advancements in extraction techniques are also helping E&P companies in increasing the yield in scanty profit regions such as the Arctic region and ultra-deep seas.
Governments of countries that support natural gas E&P from conventional (oil, gas, and coal), as well as unconventional sources (shale, CBM, and tight gas) are undertaking several regulatory initiatives to promote hydraulic fracturing. This is leading to upsurge in use of hydraulic fracturing for the development of unconventional sources.
To Know More About Pressure Pumping Market Please Visit Us @ https://www.grandviewresearch.com/industry-analysis/pressure-pumping-market
Stable prices in 2017 and an upswing in upstream oil & gas investments are likely to augment the demand for pressure pumping operations over the forecast period. Number of coil tubing rigs in the U.S. registered an increase of nearly 3.3% from 2016 to 2017. Thus, stable oil prices, coupled with increasing number of the coiled tubing units, are expected to stoke the growth of the market over the forecast period
Pressure pumping of oil and gas formations may lead to groundwater contamination, migration of gases and fracking chemicals to surface, and contamination of surrounding air. In addition, oil obtained through pressure pumping includes chemicals used in fracking, which may increase corrosion rate in rail tank cars and pipelines. Thus, environment related concerns with the product are likely to hamper growth prospects.
Moratoriums and bans on hydraulic fracturing from regional agencies in France, Romania, Tunisia, Bulgaria, etc. are also expected to remain a major challenge for the industry. Soaring need for fossil fuels in electricity generation and transportation, however, is expected to propel the market.
Top Players of Pressure Pumping Market:
Some of the key companies in the industry are Baker Hughes; Schlumberger Limited; Halliburton; C&J Energy Services, Inc.; Calfrac Energy Services Ltd.; Trican; and Superior Energy Services, Inc.
Regional Analysis Pressure Pumping Market:
The North America pressure pumping market is anticipated to exceed USD 47.8 billion by 2025. Flourishing upstream oil and gas sector in the region is likely to drive the regional market over the forecast period
Asia Pacific is projected to witness a remarkable CAGR of 5.5% over the forecast period, with China and Australia being the key revenue contributors in the region.
Inquire About Pressure Pumping Market with Our Experts @ http://bit.ly/2s65q0E
The Global Pressure Pumping Market size is expected to reach USD 75.1 billion by 2025, according to a new report by Grand View Research, Inc., progressing at a CAGR of 4.1% during the forecast period.
Increasing prominence of unconventional reserves including coalbed methane (CBM), shale, tight oil, and tight gas is likely to drive the market over the next few years. Advancements in extraction techniques are also helping E&P companies in increasing the yield in scanty profit regions such as the Arctic region and ultra-deep seas.
Governments of countries that support natural gas E&P from conventional (oil, gas, and coal), as well as unconventional sources (shale, CBM, and tight gas) are undertaking several regulatory initiatives to promote hydraulic fracturing. This is leading to upsurge in use of hydraulic fracturing for the development of unconventional sources.
To Know More About Pressure Pumping Market Please Visit Us @ https://www.grandviewresearch.com/industry-analysis/pressure-pumping-market
Stable prices in 2017 and an upswing in upstream oil & gas investments are likely to augment the demand for pressure pumping operations over the forecast period. Number of coil tubing rigs in the U.S. registered an increase of nearly 3.3% from 2016 to 2017. Thus, stable oil prices, coupled with increasing number of the coiled tubing units, are expected to stoke the growth of the market over the forecast period
Pressure pumping of oil and gas formations may lead to groundwater contamination, migration of gases and fracking chemicals to surface, and contamination of surrounding air. In addition, oil obtained through pressure pumping includes chemicals used in fracking, which may increase corrosion rate in rail tank cars and pipelines. Thus, environment related concerns with the product are likely to hamper growth prospects.
Moratoriums and bans on hydraulic fracturing from regional agencies in France, Romania, Tunisia, Bulgaria, etc. are also expected to remain a major challenge for the industry. Soaring need for fossil fuels in electricity generation and transportation, however, is expected to propel the market.
Top Players of Pressure Pumping Market:
Some of the key companies in the industry are Baker Hughes; Schlumberger Limited; Halliburton; C&J Energy Services, Inc.; Calfrac Energy Services Ltd.; Trican; and Superior Energy Services, Inc.
Regional Analysis Pressure Pumping Market:
The North America pressure pumping market is anticipated to exceed USD 47.8 billion by 2025. Flourishing upstream oil and gas sector in the region is likely to drive the regional market over the forecast period
Asia Pacific is projected to witness a remarkable CAGR of 5.5% over the forecast period, with China and Australia being the key revenue contributors in the region.
Inquire About Pressure Pumping Market with Our Experts @ http://bit.ly/2s65q0E
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