The global pressure pumping market was estimated to be US$ 56.1 billion in 2019 and is expected to grow at a CAGR of 4.8% during the forecast period. Pressure pumping is a form of fracture propagation across several rock layers, using pressurized fracturing fluid and injecting the cement into the wellbore to complete it. This technique is mainly used to extract resources from reservoirs with low permeability; these resources include shale gas and unconventional liquids which are difficult to recover through normal drilling methods. Moreover the global oil & gas industry has been motivated by the depleting condition of traditional resources to exploit and benefit from unconventional resources such as shale gas, tight oil and gas, and methane from coalbeds. The extraction of unconventional resources involves complex techniques that lead to hydraulic fracturing being used. Hydraulic fracturing including unconventional natural gas obtained by traditional extraction is considered to be a crucial technology that has generated the most unconventional resources. Due to rising hydraulic fracturing in the oil and gas industry and increasing demand for energy, the global pressure pumping market is projected to develop at a high rate during the forecast period.
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Unconventional resource growth is being witnessed worldwide especially in North America where the demand for pressure pumping has grown dramatically due to the advent of shale gas and other unconventional resources. In addition, it is anticipated that increasing shale gas basins, increased usage of unconventional sources and waterless fracking foams would create growth opportunities for the global market for pressure pumping. The widely used pressure pump operation globally is hydraulic fracturing. In addition, the industry also includes cementing services, sand control services etc. Pressure pumping is currently facing a great deal of public opposition to the environmental risks of fracking. The most critical issues for pressure pumping are water use, water pollution, and seismic events. Because of these environmental issues, the expansion of the global market for pressure pumping has reduced because of a ban on hydraulic fracking in many countries. The most important driver for the global market is the potential increase in the demand for resources and production. This technique is used for both oil and natural gas recovery, but is primarily used for unconventional gas recovery. This proves to be an advantage for the foreign market for natural gas and therefore for the market for pressure pumping thus boosting the growth of the market.
The market players are adopting significant growth strategies in order to increase their market share. Liberty Oilfield Services Inc. and Schlumberger reached an arrangement in return for a 37 percent equity stake in the merged company. This agreement is done in order to manage Schlumberger's onshore hydraulic fracturing companies in the Canada and United States which also includes pressure pumping.
In the United States and Canada land markets, the merged business will provide best-in-class completion services for the sustainable production of unconventional resources. The pressure pumping market in the United States, China and Canada is expected to expand over the years.
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This growth is due to several factors like increasing demand for energy amongst others, estimated growth of pressure pumping market in the Canada and the United States is expected to be 10%, and in China the market could boom over the years with a growth of more than 20% over the forecast period.
Many manufacturers are designing goods for fracking activities that can provide high efficiency and productivity while having a limited environmental effect. By incorporating real-time work optimization and inventory management to maximize efficiency, the vendors are striving to reduce labor requirements. To increase their fleet sizes, several global players in the industry are purchasing fleets of regional players. For example, in 2017, Schlumberger Limited acquired Weatherford's pressure pumping fleet. Similarly, in 2018, Patterson-UTI Energy purchased Seventy Seven Energy Inc.'s pressure pumping fleet.
The European economy is still in its developmental phase and has undergone many setbacks in recent years due to moratoriums and bans by many national governments and non-governmental regulatory bodies. France, for example, has banned hydraulic fracking in the country and many acts and amendments have been passed by the German government to regulate hydraulic fracturing. International investment is increasingly being embraced by the Middle East oil and gas market. For example, in 2017, the National Iranian Oil Company (NIOC), Iran's state-owned oil and gas company, was awarded Total, a contract to develop the South Pars field. The biggest gas field in the world is the South Pars/North Dome Gas-Condensate field. Rising foreign investment is thus expected to stimulate demand in the region for pressure pumping.
The detailed research study provides qualitative and quantitative analysis of pressure pumping market. The market has been analyzed from demand as well as supply side. The demand side analysis covers market revenue across regions and further across all the major countries. The supply side analysis covers the major market players and their regional and global presence and strategies. The geographical analysis done emphasizes on each of the major countries across North America, Europe, Asia Pacific, Middle East & Africa and Latin America.
Key Findings of the Report:
- The pressure pumping industry is primarily concentrated in North America, where Schlumberger, Halliburton, Baker Hughes and other medium and small players run many of the leading oil field service companies.
- Although the North American market for pressure pumping is reaching maturity, the market in other geographic regions is still in its early period.
- The demand for pressure pumping the Asia Pacific market is on the rise due to factors such as rapid industrialization in countries like China, India and Japan which is leading to an increase in the demand of oil. In addition, efforts to reduce reliance on oil imports and improve indigenous oil production by different governments in the region are anticipated to provide a tremendous boost to the pressure pumping market.
- The major players operating in the global pressure pumping market include Alamo Pressure Pumping, LLC., Axis Energy Services, LLC., Go Wireline, Graco Oilfield Services, Lightning Energy, MAMMOTH ENERGY SERVICES INC., National Energy Services Reunited Corp., National Oilwell Varco, P W Well Services Ltd., Patterson-UTI Energy, Inc., Presure Pumping Services, RPC, Inc. (Cudd Energy Services), Sprint Oil & Gas Services (DMCC), Westwood Global Energy Limited, Dencil Pumps and other market participants.
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Pressure Pumping Market:
- By Application
- Furnace Fuel Oil Injection
- Water / Effluent Injection
- Hydraulic Testing
- Crude Oil Dispatch
- Oil / Chemical Handling
- Cementing
- Others
- By Pump Type
- Horizontal
- Vertical
- Directional
- By Power Drive
- Electric Motor
- Diesel Engine
- Gas Engine
- By Mounting
- Base Plate
- Skid
- Trolley
- By Power End Connection
- Pulley Driven
- Gear Box Reduction
- By End Users
- Residential
- Commercial
- Corporates
- Fire Fighting Systems
- Malls and Hotels
- Colleges and Schools
- Hot Water Circulation
- Hydraulic Power Plants
- Steam Boilers
- Hilly Area Water Supply
- Sprinkler System
- Booster Service
- Reverse Osmosis
- Condensate Transfer
- Others
- By Geography
- North America
- U.S.
- Canada
- Mexico
- Rest of North America
- Europe
- France
- The UK
- Spain
- Germany
- Italy
- Nordic Countries
- Denmark
- Finland
- Iceland
- Sweden
- Norway
- Benelux Union
- Belgium
- The Netherlands
- Luxembourg
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- New Zealand
- Australia
- South Korea
- Southeast Asia
- Indonesia
- Thailand
- Malaysia
- Singapore
- Rest of Southeast Asia
- Rest of Asia Pacific
- Middle East & Africa
- Saudi Arabia
- UAE
- Egypt
- Kuwait
- South Africa
- Rest of Middle East & Africa
- Latin America
- Brazil
- Argentina
- Rest of Latin America
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