Pressure Pumping Market will reach

$314.1 billion by 2024, says Esticast

Research & Consulting
 The global pressure pumping market was valued at $88.5
billion in 2016, and is projected to reach $314.14 billion by
2024, growing at a CAGR of 17.4% from 2017 to 2024. In
2016, the Hydraulic Fracturing segment generated the
highest revenue share in the global pressure pumping
market. The highest growth will be experienced by
cementing service market, having a CAGR of 18.1% during
the forecast period. Among major regions, North American
Pressure Pumping market was the highest revenue
generating market in 2016

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 Hydraulic fracturing expected to dominate the pressure pumping
market holding more than 70% of the total market share in 2016

Hydraulic fracturing, or fracking, is a process in which water, sand and

chemicals are pumped underground to break apart the rock and release
the gas. In past decades, an extensive use of hydraulic fracturing has
been noticed in the North American countries. Fracking is is highly
effective, efficient and productive method for reaching deep and difficult
to reach zones below the earths crust. According to the statistics
revealed by U.S. Energy Information Administration (EIA), nearly 50%
of the total oil wells in the U.S. are hydraulically fractured

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Unconventional resources will experience the highest
exploration, witnessing the fastest growth during the forecast
period

Unconventional resource exploration through pressure

pumping is an emerging market trend and is expected to hold
highest growth rate of 19.2% throughout the entire forecast
period. The market held nearly 40% of the global market share
in 2016. Advancements in the exploration methodologies have
made unconventional oil sources more accessible for the E & C
companies, and have reduced the cost of extraction. As
conventional sources of oil are getting exhausted and getting
too expensive to use, unconventional sources are expected to
make up a larger share of fossil fuel production in the near
future. According to a research done by EIA, the world has
7576.6 trillion cubic feet of wet shale gas and 418.9 billion
barrels of tight oil which is technically recoverable.

A considerable increase in the exploration
of unconventional resources and their
exploitation is the most important driver
for the global market. The pressure
pumping technology is a versatile
technology which could be used to recover
both conventional and unconventional oil
and gas resources. The future scope for the
industry is high as per the growing energy
requirements and depletion rate of
conventional oil resources.

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 Vertical well pressure pumping service segment governed the
overall market holding more than 70% market share

The vertical wells, also called as conventional wells is the majorly

drilled well type by the exploration and production companies in
order to exploit conventional oil and gas reservoirs for petroleum,
CNG and crude oil. The market is expected to grow with a CAGR of
16% during the forecast period. However, an extensive use of
horizontal well drilling procedures for reaching unconventional oil
resources such as shale oil, tight oil and others, will lead the very
market to grow with the fastest growth, with a CAGR of 18.3%
throughout the forecast period. The global pressure pumping
market is driven by rapid depletion of conventional energy
reservoirs and shifting trend towards unconventional reservoirs.
However, high risks of environmental hazards and high initial cost
investment may resist the market growth.
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North America pressure pumping market by resource type,
2016-2024

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 Pressure Pumping Market Key Insights

Asia Pacific is expected to have the fastest CAGR of 19.2%

over the forecast period.
Unconventional Resource exploration holds the major
segment of the Pressure Pumping Market.
Horizontal well pressure pumping market is expected to
witness the highest CAGR of 19.5% over the forecast period
(2017-2024).
North America holds more than 55 % of the total pressure
pumping market.
The cementing segment is expected to witness the highest
growth with the CAGR of 18.1 % over the forecast period.

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 Key Vendor Profiles

Baker Hughes
Frac tech services international
Schlumberger limited
China oilfield services ltd.
Halliburton, Superior energy services
National Oilwell Varco
Saipem S.p.A
Weatherford International and Fluor
corporation.

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 Market By Geography

North America Europe

Asia-Pacific

Africa

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