The global pressure pumping market size is expected to reach USD 85.94 Billion in 2028 at a CAGR of 4.6%, according to the latest report by Reports and Data. Increasing demand for energy owing to rapid industrialization has resulted in rising number of exploration and production activities, and this has been driving market revenue growth to a significant extent. Rising usage of hydraulic fracturing in oil gas industry and increasing expenditure on oil drilling activities has boosted adoption of pressure pumping services. Increasing offshore EP activities and implementation of supportive regulations for new exploration activities are other key factors driving revenue growth of the market.
Pressure pumping includes application of pressure pumps of various processes in the oil gas industry such as well stimulation, well completion, and well intervention, among others. Pressure pumping is crucial during the lifecycle of well and plays a pivotal role in the oil gas industry. Pressure pumping is generally deployed in mature and unconventional oilfields to secure wellbore and enhance drainage capacity of reservoir. Pressure pumping services are extensively used by operator companies for oilfields that have low hydrocarbon output. Fracking or coiled tubing is used to overcome low production of hydrocarbons caused by sand issues in reservoir, changes in wellbore porosity, and loss of pressure in reservoir.
Top Companies Operating in the Global Pressure Pumping Market:
Schlumberger Limited, Baker Hughes, Halliburton, Calfrac Energy Services Ltd., CJ Energy Services, Inc., Trican, and Superior Energy Services, Inc.
Get a sample of the report @ https://www.reportsanddata.com/sample-enquiry-form/4096
Some Key Highlights From the Report:
- Hydraulic fracturing segment is expected to register significant revenue CAGR over the forecast period. Growth can be attributed to hydraulic fracturing being the most widely used pressure pump services globally. Increasing production of tight oil and gas across North America and rest of the world is expected to boost demand for hydraulic fracturing over the forecast period.
- Horizontal well type segment revenue is expected to expand considerably over the forecast period, attributable to increasing production of oil gas and rapid technological advancements.
- North America is expected to account for largest revenue share in the global market over the forecast period owing to presence of mature oil fields in the United States and Canada, increasing production of oil gas from unconventional resources, and rapid advancements in drilling technologies in the region. In addition, robust presence of major market players such as Baker Hughes, Schlumberger, and Halliburton in the region is expected to further drive regional market revenue growth.
To read more about the report @ https://www.reportsanddata.com/report-detail/pressure-pumping-market
Pressure Pumping Market Segmentation
Type Outlook:
- Hydraulic Fracturing
- Cementing
Well Type Outlook:
- Horizontal
- Vertical
- Directional
The report is written with the aid of industry analysts, market segmentation, and data collection in order to assist readers in making profitable business decisions. The report includes a comprehensive database of technical and product advances. It also provides information on growth rates and market value, as well as a thorough examination of niche market segments. The report provides strategic advice to newcomers and existing businesses about how to make profitable and well-informed business decisions.
The Pressure Pumping market has been segmented into key regions of the world and offers an analysis of growth rate, market share, current and emerging trends, production and consumption ratio, industrial chain analysis, demand and supply, import and export, revenue contribution, and presence of key players in each region. A country-wise analysis of the market is offered in the report to gain a better understanding of the regional spread and progress of the Pressure Pumping market.
The global Pressure Pumping market is segmented into:
- North America (U.S.A., Canada, Mexico)
- Europe (Italy, U.K., Germany, France, Rest of Europe)
- Asia Pacific (China, India, Japan, South Korea, Australia, Rest of APAC)
- Latin America (Chile, Brazil, Argentina, Peru, Rest of Latin America)
- Middle East Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
Key Questions Addressed in the Report:
- What are the dominating factors that are influencing the growth of the industry?
- In the forecast period, which market segment is expected to rise the most?
- What are the risks and challenges that the industry is facing?
- In the coming years, which area is projected to dominate the market?
- Who are the major players in the market? What kind of strategic business plans have they made?
Request a customization of the report @ https://www.reportsanddata.com/request-customization-form/4096
Thank you for taking the time to read our article. The report can be tailored to the needs of the client. Please contact us for more details, and our team will tailor the report to your specific requirements.
About Reports and Data
Reports and Data is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target and analyze consumer behavior shifts across demographics, across industries and help client’s make a smarter business decision. We offer market intelligence studies ensuring relevant and fact-based research across a multiple industries including Healthcare, Technology, Chemicals, Power and Energy. We consistently update our research offerings to ensure our clients are aware about the latest trends existent in the market. Reports and Data has a strong base of experienced analysts from varied areas of expertise.
Contact Us:
John W
Head of Business Development
Reports and Data | Web: www.reportsanddata.com
Direct Line: +1-212-710-1370
E-mail: sales@reportsanddata.com
Blog: https://www.reportsanddata.com/blogs
