Please Wait.....
Report
Frac Stack Market - Growth, Trends, Covid-19 Impact, and Forecasts (2023 - 2028)
Market Report I 2023-01-23 I 125 Pages I Mordor Intelligence
The frac stack market is expected to register a CAGR of more than 5% during the period from 2022 to 2027. As global oil prices fell enormously during the COVID-19 pandemic, the frac stack and fracking market suffered immensely, as most producers halted fracking operations due to lower oil prices. There is rising production from unconventional resources, as most of the conventional oil fields are aging at a faster rate and will not be able to meet the growing energy demand. This is expected to drive the frac stack market during the forecast period. Additionally, the shale boom in the United States, which has led to massive growth in production volumes and the commercialization of fracking technology, has reduced the capital costs of fracking operations globally, which is expected to drive the market during the forecast period. However, environmental concerns and a lack of capital market and incentives are restraining the market growth.
Key Highlights
The onshore sector has accounted for around 70% of the global crude oil production. The demand for fracturing is growing to maintain or increase production from existing fields and the increasing popularity of unconventional reserves such as shale and tight ones. As hydraulic fracturing increases in the onshore sector, the frac stack market is expected to get larger.
The application of the Internet of Things (IoT) to use a large amount of data generated during the exploration and production (E&P) activities has led to a growing demand for safety concerns and improving the efficiency of the fracking process using advanced analytics and simulation software. The application of big data analytics and IoT systems in fracking operations is expected to lead to significant growth opportunities for the frac stack market in the coming years.
North America is one of the largest markets for frac stacks, led by the United States, primarily due to the shale boom, which has led to the increased exploitation of its shale reserves that need to be fractured for economical production.
Frac Stack Market Trends
The Onshore Sector is Expected to Dominate the Market
Hydraulic fracturing is used to increase the rate of crude oil and gas being recovered from conventional and unconventional reservoirs. The demand for fracturing is growing as conventional fields are aging, and more unconventional reservoirs are to be tapped.
In 2021, global oil discoveries fell to the lowest level in 75 years, falling from 12.5 billion barrels of oil equivalent (boe) in 2020 to 4.7 billion boe in 2021, nearly a 62.5% Y-o-Y decline. As a result, several operating companies have shifted their focus toward the exploitation of unconventional onshore reserves such as shale and tight gas reserves, which have a lower risk and require lower capital investment than large offshore projects. The increased hydraulic fracking of unconventional onshore reserves is expected to increase the demand for frac stacks during the forecast period.
Saudi Arabia's state-owned oil company Saudi Aramco has begun producing shale gas from one location and is exploring the North Arabia basin, the South Ghawar basin, and the Jafurah basin. Saudi Aramco has started the development of the Jafurah shale play and expects it to yield up to 2 Bcf/d of gas, 418 MMcf/d of ethane, and 630,000 boe/d of gas liquids and condensates by 2030. As Saudi Aramco increases its unconventional drilling and production operations, the demand in the frac stack market is expected to increase in the future.
Therefore, the increasing popularity of hydraulic fracturing technology outside North America, especially in China, is expected to drive the frac stack onshore segment during the forecast period.
North America is Likely to Dominate the Market
North America is one of the largest markets for frac stacks, led by the United States, mainly due to the increased exploitation of its shale reserves that are fractured for economic production.
As the economic impact of COVID-19 has started to subside and geopolitical tensions in major oil-producing nations such as Russia, Kazakhstan, and Libya have reduced global oil output, oil prices have started to rise due to the increasing demand. Due to this, oil and gas producers in the United States are paving the way for faster production by expanding new well completions in the Permian Basin of west Texas and New Mexico, the primary shale plays in the country.
However, growing health and safety concerns about groundwater contamination caused by fracking chemicals and increased seismic activities due to high-pressure fracking have created significant social concerns, which have led to strict regulation of the fracking industry in the United States. Due to increased safety and environmental regulations, the cost of fracking has increased, which is expected to restrain the market growth during the forecast period.
Canada has also been a major hotspot for fracking, and fracking has been ongoing in Cardium, Duvernay, Montney, and Viking Formations in Alberta, Bakken Shale in Saskatchewan, and the Montney and Horn River Shale in British Columbia. Additionally, the province of Alberta has one of the largest reserves of tar sands globally, and the commercial exploitation of tar sands requires massive fracking operations. The development of large unconventional shale reserves and oil sands is expected to drive the demand for fracking equipment such as frac stacks.
Therefore, due to large and domestic unconventional reserves, a mature fracking sector, and a robust domestic demand, along with hydrocarbon export infrastructure, North America is expected to remain the largest market for frac stacks during the forecast period.
Frac Stack Market Competitor Analysis
The frac stack market is moderately consolidated. Some of the key players in the market include Oil States Energy Services, CCSC Petroleum Equipment Ltd Co., Schlumberger Limited, The Weir Group PLC, and Covenant Testing Technologies LLC.
Additional Benefits:
The market estimate (ME) sheet in Excel format
3 months of analyst support
1 INTRODUCTION
1.1 Scope of the Study
1.2 Market Definition
1.3 Study Assumptions
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET OVERVIEW
4.1 Introduction
4.2 Market Size and Demand Forecast in USD billion, till 2027
4.3 Recent Trends and Developments
4.4 Government Policies and Regulations
4.5 Market Dynamics
4.5.1 Drivers
4.5.2 Restraints
4.6 Supply Chain Analysis
4.7 Porter's Five Forces Analysis
4.7.1 Bargaining Power of Suppliers
4.7.2 Bargaining Power of Consumers
4.7.3 Threat of New Entrants
4.7.4 Threat of Substitute Products and Services
4.7.5 Intensity of Competitive Rivalry
5 MARKET SEGMENTATION
5.1 Location of Deployment
5.1.1 Onshore
5.1.2 Offshore
5.2 Well Type
5.2.1 Horizontal and Deviated
5.2.2 Vertical
5.3 Geography
5.3.1 North America
5.3.2 Europe
5.3.3 Asia-Pacific
5.3.4 South America
5.3.5 Middle-East
6 COMPETITIVE LANDSCAPE
6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
6.2 Strategies Adopted by Leading Players
6.3 Company Profiles
6.3.1 Equipment Manufacturers
6.3.1.1 CCSC Petroleum Equipment Ltd Co.
6.3.1.2 Oil States Energy Services
6.3.1.3 Schlumberger Limited
6.3.1.4 Covenant Testing Technologies LLC
6.3.1.5 The Weir Group PLC
6.3.1.6 Yantai Jereh Petroleum Equipment & Technologies Co.
6.3.2 Fracturing Service Providers
6.3.2.1 Baker Hughes, a GE Company
6.3.2.2 Calfrac Well Services Ltd
6.3.2.3 C&J Energy Services
6.3.2.4 FTS International Inc.
6.3.2.5 Halliburton Limited
6.3.2.6 Schlumberger Limited
6.3.2.7 Trican Well Service Ltd
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
- Not Sure / Need Reassuring
- Confirm Content
-
Content is provided by our partners and every effort is made to make Market Report details as clear as possible. If you are not sure the exact content you require is included in this study you can Contact us to double check. To do this you can:
Use the ‘? ASK A QUESTION’ below the license / prices and to the right of this box. This will come directly to our team who will work on dealing with your request as soon as possible.
Write to directly on support@scotts-international.com with details. Please include as much information as possible including the name of report or link so our staff will be able to work on you request.
Telephone us directly on 0048 603 394 346 and an experienced member of team will be on hand to answer.
-
- Sample Pages
-
With the vast majority of our partners we can obtain Sample Pages to support your decision. This is something we can arrange without revealing your personal details.
It is important to note that we will not be able to provide you the exact data or statistics such as Market Size and Forecasts. Sample pages usually confirm the layout or the Categories included in Charts and Graphs, excluding specific data.
To ask for Sample Pages by contact us through ‘? ASK A QUESTION’, support@scotts-international.com, or by telephoning 0048 603 394 346.
-
- Check for Alternatives
-
Whilst we try to make our online platform as easy to use as possible there is always the possibility that a better alternative has not been found in your search.
To avoid this possibility Contact us through ‘? ASK A QUESTION’, support@scotts-international.com, or by telephoning 0048 603 394 346 and a Senior Team Member can review your requirements and send a list of possibilities with opinions and recommendations.
-
- Confirm Content
- Prices / Formats / Delivery
- Prices
-
All prices are set by our partners and should be exactly the same as those listed on their own websites. We work on a Revenue share basis ensuring that you never pay more than what is offered elsewhere.
Should you find the price cheaper on another platform we recommend you to Contact us as we should be able to match this price. You can Contact us though through ‘? ASK A QUESTION’, support@scotts-international.com, or by telephoning 0048 603 394 346.
-
- Discounts
-
As we work in close partnership with our Partners from time to time we can secure discounts and assist with negotiations, this is part of our personalised service to you.
Discounts can sometimes be arranged for speedily placed orders; multiple report purchases or Higher License purchases.
To check if a Discount is possible please Contact our experienced team through ‘? ASK A QUESTION’, support@scotts-international.com, or by telephoning 0048 603 394 346.
-
- Available Currencies
-
Most Market Reports on our platform are listed in USD or EURO based on the wishes of our Partners. To avoid currency fluctuations and potential price differentiations we do not offer the possibility to change the currency online.
Should you wish to pay in a different currency to that advertised online we do accept payments in USD, EURO, GBP and PLN. The price will be calculated based on the relevant exchange rate taken from our National Bank.
To pay in a different above currency to that advertised online please Contact our team and a quotation will be sent within a couple of hours with payment details.
-
- Licenses
-
License options vary from Partner to Partner as is usually based on the number of Users that will benefitting from the report. It is very important that License ordered is not breached as this could have potential negative consequences for you individually or your employer.
If you have questions or need confirmation about the specific license we recommend you to Contact us and a detailed explanation will be provided.
-
- Global Site License
-
The Global Site License is the most comprehensive license available. By selecting this license, the Market Report can be shared with other ‘Allowed Users’ and any other member of staff from the same organisation regardless of geographic location.
It is important to note that this may exclude Parent Companies or Subsidiaries.
If you have questions or need confirmation about the specific license we recommend you to Contact us and a detailed explanation will be provided.
-
- Formats
-
The most common format is PDF, however in certain circumstances data may be present in Excel format or Online, especially in the case of Database or Directories. In addition, for certain higher license options a CD may also be provided.
If you have questions or need clarification about the specific formats we recommend you to Contact us and a detailed explanation will be provided.
-
- Delivery
-
Delivery is fulfilled by our partners directly. Once an order has been placed we inform the partner by sharing the delivery email details given in the order process.
Delivery is usually made within 24 hours of an order being placed, however it may take longer should your order be placed prior to the weekend or if otherwise specified on the Market Report details page. Additionally, if details have been not fully completed in the Order process a delay in delivery is possible.
If a delay in delivery is expected you will be informed about it immediately.
-
- Shipping Charges
-
As most Market Reports are delivered in PDF format we almost never have to add additional Shipping Charges. If, however you are ordering a Higher License service or a specific delivery format (e.g. CD version) charges may apply.
If you are concerned about additional Shipping Charges we recommend you to Contact us to double check.
-
- Prices
- Ordering
- By Credit Card
-
We work in Partnership with PayU to ensure payments are made securely in a fast and effortless way. PayU is the e-payments division of Naspers.
Naspers operates in over 133 International Markets and ranks 3rd Globally in terms of the number of e-commerce customers served.
For more information on PayU please visit: https://www.payu.pl/en/about-us
-
- By Money Transfer
-
If you require an invoice prior to payment, this is possible. To ensure a speedy delivery of the Market Report we require all relevant company details and you agree to maximum payment terms of 30 days from receipt of order.
With our regular clients deliver of the Market Report can be made prior to receiving payment, however in some circumstances we may ask for payment to be received before arranging for the Market Report to be delivered.
-
- By Credit Card
- Security
- Website security
-
We have specifically partnered with leading International companies to protect your privacy by using different technologies and processes to ensure security.
Everything submitted to Scotts International is encrypted via SSL (Secure Socket Layer) and all personal information provided to Scotts International is stored on computer systems with limited access in controlled environments.
-
- Credit Card Security
-
We partner with PayU (https://www.payu.pl/en/about-us) to ensure all credit card payments are made securely in a fast and effortless way.
PayU offers 250+ various payment channels and eWallet services across 4 continents allowing buyers to pay electronically, whether on a computer or a mobile device.
-
- Website security