San Francisco, 15 February 2019: The Report Hydraulic Fracturing Market Analysis By Technology (Plug & Perf, Sliding Sleeve), Material (Proppant (Sand, Ceramic, Resin Coated Sand)), Application (Shale Gas, Tight Gas, Tight Oil, Coal Bed Methane (CBM)) And Segment Forecasts To 2024
The global hydraulic fracturing market is expected to reach USD 81.10 billion by 2024, according to a new report by Grand View Research, Inc. Growing E&P companies’ concern towards declining production rates in conventional hydrocarbon reserves along with shifting focus towards developing unconventional oil & gas blocks globally is anticipated to drive the market growth.
Favorable initiatives by the U.S. and Chinese government in the form of financial aids, tax incentives and easy provision of FDI in the hydrocarbon sector are estimated to steer the industry expansion over the next few years. Several bans, moratoriums and pubic concerns regarding environmental impacts of the technology particularly in counties including France, Tunisia, Bulgaria, Romania, and South Africa are expected to remain key challenges for the industry participants over the forecast period.
Plug & perf technology dominated the global hydraulic fracturing market accounting for over 80% of the total revenue in 2015. The technique enables multistage fracking in cased holes and is widely used in tight oil and shale completions particularly in the U.S.
Access Research Report of Hydraulic Fracturing Market @ www.grandviewresearch.com/industry-analysis/hydraulic-fracturing-market
Further key findings from the report suggest:
Browse more reports of this category by Grand View Research at: www.grandviewresearch.com/industry/conventional-energy
Grand View Research has segmented the hydraulic fracturing market on the basis of technology, material, application and region:
Global Hydraulic Fracturing Technology Outlook (Revenue, USD Million, 2014 - 2024)
Global Hydraulic Fracturing Material Outlook (Revenue, USD Million, 2014 - 2024)
Global Hydraulic Fracturing Application Outlook (Revenue, USD Million, 2014 - 2024)
Global Hydraulic Fracturing Regional Outlook (Revenue, USD Million, 2014 - 2024)
Access Press Release of Hydraulic Fracturing Market@ www.grandviewresearch.com/press-release/global-hydraulic-fracturing-market
About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.
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