Please Wait.....
Report
Hydraulic Fracturing Market - Growth, Trends, Covid-19 Impact, and Forecasts (2023 - 2028)
Market Report I 2023-01-23 I 125 Pages I Mordor Intelligence
The hydraulic fracturing market is expected to register a CAGR of greater than 8.55% during the forecast period of 2022 - 2027. The outbreak of the COVID-19 pandemic in Q1 of 2020 severely affected the hydraulic fracturing market. During the COVID-19 pandemic, the shale oil and gas sector suffered the most, which are among the largest sector where the different techniques of hydraulic fracturing are used. Also, the oil and gas demand slumped by more than 30 MMbbl/d in April 2020, which, in turn, affected the market. Factors, such as technological advancements with the introduction of better techniques, are likely to drive the hydraulic fracturing market during the forecast period. However, the volatility in crude oil prices is expected to restrain the growth of the hydraulic fracturing market in the coming years.
Key Highlights
The foam-based segment is expected to witness significant growth due to its increasing usage and rising exploration and development in global oil and gas operations.
The advancement in hydraulic fracturing techniques and the increasing viability of vertical integration are expected to act as an opportunity for the market.
With a significant number of oil and gas upstream projects that require hydraulic fracturing, North America is expected to dominate the market during the forecast period.
Hydraulic Fracturing Market Trends
The Foam-based Fluid Segment to Witness a Significant Growth
For water-sensitive formations and environments where water is scarce, foams have long been considered one of the best fracturing fluids. In particular, foams are believed to be an appropriate means for fracturing shale gas reservoirs.
Foam-based fluids require lower (or no) water consumption and cause less damage in water-sensitive formations, and there is less liquid to recover and handle after the fracturing process. Many environmentalists, especially in the United States, have argued for cleaner methods of fracturing, which is possible through the use of foam-based fracturing. Further advancement in this technology may aid the growth of the market while also preventing environmental damage.
Additionally, foam-based fluid has also found niche application in coalbed fracturing in Canada on dry coalbeds, where any water introduced into the formation damages the cleats.
Although this technique has been tested in a few shale plays worldwide, most studies have been performed in the United States and Canada. Therefore, the foam fracturing technique is still comparatively novel for other countries around the world.
The most common application for high-quality foams is in water-sensitive gas-bearing formations, typically an under-saturated gas reservoir, where water blockage is a major concern. Foams are beneficial when used for liquids-rich gas wells, such as in the Alberta Deep Basin in Canada, and work in certain oil-bearing formations, such as the Cardium. Lastly, in areas where water is in short supply or hard to source, foams can present a very obvious advantage.?
The crude oil production in Alberta reached 1,280 cubic meters per day. Also, according to the Alberta Energy Regulator, total crude oil production in Alberta is forecast to be around 4.2 million barrels per day in 2025.
Therefore, the increasing demand for foam-based fluids in different regions is expected to drive the market during the forecast period.
North America to Dominate the Market
North America is one of the major producers of crude oil and natural gas globally. The hydraulic fracturing market is expected to be driven forward by new well drilling and the expanding producing well base.
In the United States, the hydraulic fracturing market is primarily driven by increased drilling activities, new offshore projects, and the redevelopment of matured fields. The production from Marcellus/Utica shale and new oil wells is expected to account for most of the growth in gas production.
The biggest increase in activity is expected from Canada's main crude oil and gas producing region, Alberta, in the coming years. Consequently, the hydraulic fracturing market is estimated to grow at a moderate pace in Canada.
In January 2021, Reliance Industries Ltd agreed to sell its entire stake in certain upstream assets in the Marcellus shale gas asset in south-western Pennsylvania in the United States for USD 250 million amid weakness in the global hydrocarbon market. The assets, controlled by RIL's wholly-owned unit Reliance Marcellus LLC and operated by affiliates of EQT Corporation, a United States-based energy company engaged in hydrocarbon exploration and pipeline transport, are to be sold to Northern Oil and Gas (NOG) Inc. The shock caused by COVID-19 has caused many smaller investors in the shale region to delay or abandon the projects in the industry.
According to the US Energy Information Administration (EIA), shale oil production in the United States output would increase by 27% in 2050. The shale oil production may increase further due to new wells being drilled across the country.
Hence, North America is expected to dominate the market due to the overwhelming production of shale on the continent and the increase in investment in the sector.
Hydraulic Fracturing Market Competitor Analysis
The hydraulic fracturing market is moderately fragmented. Some of the major companies include Schlumberger Limited, Baker Hughes Co., Basic Energy Services, NexTier Oilfield Solutions Inc., and Calfrac Well Services Ltd.
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 EXECUTIVE SUMMARY
3 RESEARCH METHODOLOGY
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
4.6.1 Bargaining Power of Suppliers
4.6.2 Bargaining Power of Consumers
4.6.3 Threat of New Entrants
4.6.4 Threat of Substitutes Products and Services
4.6.5 Intensity of Competitive Rivalry
5 MARKET SEGMENTATION
5.1 Well Type
5.1.1 Horizontal
5.1.2 Vertical
5.2 Fluid Type
5.2.1 Slick Water-based Fluid
5.2.2 Foam-based Fluid
5.2.3 Gelled Oil-based Fluid
5.2.4 Other Base Fluids
5.3 Geography
5.3.1 North America
5.3.2 Asia-Pacific
5.3.3 Europe
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 Archer Well Company Inc.
6.3.2 Baker Hughes a GE Co.
6.3.3 Basic Energy Services
6.3.4 Calfrac Well Services Ltd
6.3.5 FTS International Services
6.3.6 Halliburton Company
6.3.7 NexTier Oilfield Solutions Inc.
6.3.8 Patterson (Seventy Seven)
6.3.9 RPC Inc. (Cudd Pumping)
6.3.10 Schlumberger Limited
6.3.11 Liberty Oilfield Services
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