The global pressure pumping market size is expected to reach USD 85.94 Billion in 2028 at a CAGR of 4.6%, according to the latest report by Reports and Data. Increasing demand for energy owing to rapid industrialization has resulted in rising number of exploration and production activities, and this has been driving market revenue growth to a significant extent. Rising usage of hydraulic fracturing in oil & gas industry and increasing expenditure on oil drilling activities has boosted adoption of pressure pumping services. Increasing offshore E&P activities and implementation of supportive regulations for new exploration activities are other key factors driving revenue growth of the market.
Pressure pumping includes application of pressure pumps of various processes in the oil & gas industry such as well stimulation, well completion, and well intervention, among others. Pressure pumping is crucial during the lifecycle of well and plays a pivotal role in the oil & gas industry. Pressure pumping is generally deployed in mature and unconventional oilfields to secure wellbore and enhance drainage capacity of reservoir. Pressure pumping services are extensively used by operator companies for oilfields that have low hydrocarbon output. Fracking or coiled tubing is used to overcome low production of hydrocarbons caused by sand issues in reservoir, changes in wellbore porosity, and loss of pressure in reservoir.
Top Companies Operating in the Global Pressure Pumping Market:
Schlumberger Limited, Baker Hughes, Halliburton, Calfrac Energy Services Ltd., C&J Energy Services, Inc., Trican, and Superior Energy Services, Inc.
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Some Key Highlights From the Report:
· Hydraulic fracturing segment is expected to register significant revenue CAGR over the forecast period. Growth can be attributed to hydraulic fracturing being the most widely used pressure pump services globally. Increasing production of tight oil and gas across North America and rest of the world is expected to boost demand for hydraulic fracturing over the forecast period.
· Horizontal well type segment revenue is expected to expand considerably over the forecast period, attributable to increasing production of oil & gas and rapid technological advancements.
· North America is expected to account for largest revenue share in the global market over the forecast period owing to presence of mature oil fields in the United States and Canada, increasing production of oil & gas from unconventional resources, and rapid advancements in drilling technologies in the region. In addition, robust presence of major market players such as Baker Hughes, Schlumberger, and Halliburton in the region is expected to further drive regional market revenue growth.
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Pressure Pumping Market Segmentation
Type Outlook:
· Hydraulic Fracturing
· Cementing
Well Type Outlook:
· Horizontal
· Vertical
· Directional
The report is written with the aid of industry analysts, market segmentation, and data collection in order to assist readers in making profitable business decisions. The report includes a comprehensive database of technical and product advances. It also provides information on growth rates and market value, as well as a thorough examination of niche market segments. The report provides strategic advice to newcomers and existing businesses about how to make profitable and well-informed business decisions.
The Pressure Pumping market has been segmented into key regions of the world and offers an analysis of growth rate, market share, current and emerging trends, production and consumption ratio, industrial chain analysis, demand and supply, import and export, revenue contribution, and presence of key players in each region. A country-wise analysis of the market is offered in the report to gain a better understanding of the regional spread and progress of the Pressure Pumping market.
The global Pressure Pumping market is segmented into:
· North America (U.S.A., Canada, Mexico)
· Europe (Italy, U.K., Germany, France, Rest of Europe)
· Asia Pacific (China, India, Japan, South Korea, Australia, Rest of APAC)
· Latin America (Chile, Brazil, Argentina, Peru, Rest of Latin America)
· Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
Key Attentions of Pressure Pumping Market Report:
The report offers a complete and broad perspective on the global Pressure Pumping Market.
The market statistics depicted in the various Pressure Pumping Market segments give a complete picture of the industry.
The market growth drivers and challenges affecting the development of the Pressure Pumping Market are analyzed in detail.
The report will aid in the analysis of key competitive market scenarios and Pressure Pumping Market dynamics.
Major players, Pressure Pumping Market key companies, investment feasibility, and study of new market entrants are offered.
The scope of development of the Pressure Pumping Market in each market segment is covered in this report.
The macro and microeconomic factors that influence the Pressure Pumping Market progress are detailed in this report.
The upstream and downstream components of the Pressure Pumping Market and a complete value chain are explained.
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