Global Non-Volatile Memory Market Research Report: Forecast to 2023
Global Pressure Pumping Market Research Report: Forecast to 2025
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Copyright Š 2017 Market Research Future.
Global Non-Volatile Memory Market Research Report: Forecast to 2023
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Copyright © 2017 Market Research Future.
Global Non-Volatile Memory Market Research Report: Forecast to 2023
Summary The global pressure pumping market is predicted to touch USD 72.4 billion at a 4.2% CAGR over the forecast period (2017-2024), reveals the new Market Research Future (MRFR) report. Pressure pumping simply put, is a fracture propagation method through several rock layers using pressurized fracturing fluid followed by pumping the cement in the well bore for completing it. It is chiefly used for extracting resources from low permeability reservoirs such as unconventional liquids, shale gas, and tight gas. Increase in depletion in matured oil fields is rising the demand for pressure pumps. There is a need to implement a complex pumping system to drill into the shallows of the mature oil fields to procure oil. This brings in the importance of drilling into unconventional onshore resources like coalbed methane (CBM), tight oil, shale oil which requires this specific drilling technique. Thus, increasing the demand for pressure pumps that use hydraulic fracturing. Pressure pumping is a process that includes high pressure injection of fracking liquid chiefly water, having sand and other prop pants that are suspended through thickening agents into the wellbore. This creates cracks in deep rock formations with the help of which resources such as brine, natural gas, and petroleum can flow freely. Cementing is used for different purposes. It is widely used to protect and seal the wellbore, shut off the penetration of water permanently into the well, and also seal lost circulation areas where there is flow reduction within the well. Various factors are driving the growth of the pressure pumping market. These factors, in accordance with the Market Research Future (MRFR) report, include growing hydraulic fracturing in oil and gas industry, growing shale gas basin, growing demand for energy, advancements in extraction methods, and growing activities in the exploration as well as the production of non-conventional shale gas. Besides, services cementing, acidization, sand controlling, and enhanced oil recovery are also pushing the market growth. On the contrary, stringent regulations laid down by the government on pressure pumping, concerns related to seismic activities, high installation costs, unfavorable weather conditions, shortage of professional workforce, and concerns regarding contamination of water are factors that may restrict the pressure pumping market growth over the forecast period. The unconventional oils have high porosity and less permeability that makes the natural flow of oil difficult. The pressure pump plays a significant role in oil extraction over other conventional techniques. The pressure pump is economic and is predicted to cause a dip in the oil price in the forecasted year. Although the market research reports pressure pump market a good sector to invest, human health and security remain the major challenges associated with the pressure pump techniques. Environmental hazards like contamination of groundwater is another issue.
Competitive Landscape The prominent companies those driving the global pressure pump market are China Oilfield Services Ltd (China), Weatherford International (US), Halliburton Company (US), Schlumberger Limited (US), Saipem S.p.An (Italy), Superior Energy Services (US), Baker Hughes (US), Frac Tech Services International, Trican (Canada) and Calfrac Well Services (Canada).
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Copyright Š 2017 Market Research Future.
Global Non-Volatile Memory Market Research Report: Forecast to 2023
Market Segmentation The Market Research Future report offers a wide segmental analysis of the pressure pumping market based on services type, resource type, and well type. Based on service type, the pressure pumping market is segmented into cementing, hydraulic fracturing, and others. Of these, the hydraulic fracturing segment will have the largest share in the market over the forecast period. This will be followed by cementing services. Based on well type, the pressure pumping market is segmented into vertical wells and horizontal wells. Based on resource type, the pressure pumping market is segmented into conventional and unconventional.
Regional Analysis Based on the region, the pressure pumping market report covers growth opportunities and the latest trends across Europe, North America, Asia Pacific, and the Middle East and Africa. Of these, North America will be the frontrunner in the market over the forecast period. The US is the key contributor here owing to advancements in unconventional drilling technologies that have gathered capital for oil & gas drilling projects. Besides, ample resources of hydrocarbon in the US, and constant offshore drilling are pushing the market growth in the region. The pressure pumping market in the APAC region is predicted to have significant growth over the forecast period. Growing energy demand due to industrialization and urbanization from Indonesia, China, and India are driving market growth. The pressure pumping market in Europe is predicted to have favorable growth over the forecast period. Russia, Norway, and the UK are the key contributors here. New discovery of oil in Northern Russia, coupled with approval of various drilling projects are driving the market growth in this region.
Industry Updates: July 2018, The leading global provider of high-pressure hydraulic service, Well Services LLC (US) announced its partnership with a special purpose acquisition company, Matlin & Partners Acquisition Corporation (US) to increase its fleet size to 17 spreads with 800,000 hydraulic HP approximately. July 2019: ProPetro Holding Corp., pressure pumping expert, is planning to deploy completion fleets that are electrically powered in the Permian Basin.
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Copyright Š 2017 Market Research Future.
Global Non-Volatile Memory Market Research Report: Forecast to 2023
owned company based in Norway that has developed a field-proven portfolio of completion systems and intervention tools.
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Copyright Š 2017 Market Research Future.