Global Hydraulic Fracturing Market Size is valued at USD 55.7 Bn in 2024 and is predicted to reach USD 118.9 Bn by the year 2034 at a 8.0% CAGR during the forecast period for 2025-2034.
Hydraulic fracturing is a well-stimulation technique that fractures bedrock rocks with a pressurised liquid to facilitate the extraction of oil and gas reserves. The expanding demand for oil, gas, and other petroleum products from developing economies and increased attempts to cut the cost of oil and gas production will drive market expansion.
The rising global need for energy, notably oil and natural gas, drives the hydraulic fracturing business. As conventional reserves dwindle, there is a greater reliance on unconventional resources, such as shale gas and tight oil, which need hydraulic fracturing to extract. The market is being pushed by the requirement to meet the increasing energy demands of various industries.
However, the pandemic cut worldwide oil and gas demand significantly due to lockdowns, travel restrictions, and economic slowdowns. This reduced drilling and production activity, affecting demand for hydraulic fracturing services.
The Segmentation of Hydraulic Fracturing Market is on the basis of Technology, Application, and Well Type. on the basis of technology, the market is segmented as plug & perf and sliding sleeve. The application segment includes shale gas, tight oil, and tight gas. The market is segmented by well type into horizontal and vertical wells.
The plug & perf category is expected to hold a major share of the global Hydraulic Fracturing Market in 2022. The plug and perf technology applies to both vertical and horizontal wells. It is the most popular and widely utilized fracturing technology for unconventional wells. The plug & perf category is expected to increase significantly because it is the most widely utilized technology due to its easiness of operation and low cost. It improves production performance while also lowering production costs.
The shale gas segment is projected to grow at a rapid rate in the global Hydraulic Fracturing Market. There are several shale reserves all over the world. According to the EIA, there are 48 shale gas basins in 32 nations, each with almost 70 shale gas deposits. China, for example, has 21.8 TCM of technically viable shale gas reserves and 764.3 BCM of proven shale gas reserves, both located primarily in marine facies in the Sichuan basin. Similarly, Argentina has 802 billion cubic feet of theoretically recoverable shale gas deposits, while Algeria has the world’s third-largest undiscovered shale gas resources, with 20 trillion cubic meters of technically recoverable shale gas. Such enormous reserves are driving the hydraulic fracturing market.
The North America Hydraulic Fracturing Market is expected to register the maximum market share in terms of revenue in the near future. The US is a significant and leading country with enormous potential for shale gas, tight gas reserves, and oil and natural gas production. Industry standards, effective state regulations, best practices, and supportive federal legislation are protecting communities and the environment.
Furthermore, these laws will increase natural gas output, allowing the United States to maintain its market share advantage. As a result, forthcoming breakthroughs and ongoing investments in unconventional gas production are boosting market expansion in the US. Oil and gas companies in China launched initiatives to liberate natural gas from shale rock formations, which led to the use of fracturing for reserve exploration. The government has pledged to increase local output and international participation in the exploration and production (E&P) business, indicating an increase in production and investments.
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Report Attribute |
Specifications |
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Market Size Value In 2024 |
USD 55.7 Billion |
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Revenue Forecast In 2034 |
USD 118.9 Billion |
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Growth Rate CAGR |
CAGR of 8.0% from 2025 to 2034 |
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Quantitative Units |
Representation of revenue in US$ Bn and CAGR from 2025 to 2034 |
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Historic Year |
2021 to 2024 |
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Forecast Year |
2025-2034 |
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Report Coverage |
The forecast of revenue, the position of the company, the competitive market structure, growth prospects, and trends |
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Segments Covered |
By Technology, By Well Type, By Application |
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Regional Scope |
North America; Europe; Asia Pacific; Latin America; Middle East & Africa |
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Country Scope |
U.S.; Canada; U.K.; Germany; China; India; Japan; Brazil; Mexico ;The UK; France; Italy; Spain; China; Japan; India; South Korea; South East Asia; South Korea; South East Asia |
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Competitive Landscape |
Halliburton (US), Schlumberger (US), Liberty Oilfield Services LLC (US), Baker Hughes (US), NexTier Oilfield Solutions (US), Calfrac Well Services Ltd. (Canada), STEP Energy Services (Canada), Patterson-UTI Energy, Inc. (US), Trican (Canada), National Energy Services Reunited Corp. (US), Petro Welt Technologies AG (Austria), ProFrac Holding Corp. (US), Tacrom (Romania) TAM International, Inc. (US), GD Energy Products, LLC (US), Petro Welt Technologies AG (Austria), ProPetro Holding Corp. (US), TechnipFMC plc (UK), Weatherford (US), Nine Energy Service (US), and AFG Holdings, Inc (US). |
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Customization Scope |
Free customization report with the procurement of the report, Modifications to the regional and segment scope. Particular Geographic competitive landscape. |
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Pricing And Available Payment Methods |
Explore pricing alternatives that are customized to your particular study requirements. |
Chapter 1. Methodology and Scope
1.1. Research Methodology
1.2. Research Scope & Assumptions
Chapter 2. Executive Summary
Chapter 3. Global Hydraulic Fracturing Market Snapshot
Chapter 4. Global Hydraulic Fracturing Market Variables, Trends & Scope
4.1. Market Segmentation & Scope
4.2. Drivers
4.3. Challenges
4.4. Trends
4.5. Investment and Funding Analysis of Metaverse Industry
4.6. Industry Analysis – Porter’s Five Forces Analysis
4.7. COVID-19 Impact on Metaverse Industry
Chapter 5. Market Segmentation 1: By Technology Estimates & Trend Analysis
5.1. By Technology & Market Share, 2024-2034
5.2. Market Size (Value US$ Mn) & Forecasts and Trend Analyses, 2021 to 2034 for the following By Technology:
5.2.1. Plug & Perf
5.2.2. Sliding Sleeve
Chapter 6. Market Segmentation 2: By Application Estimates & Trend Analysis
6.1. By Technology & Market Share, 2024-2034
6.2. Market Size (Value US$ Mn) & Forecasts and Trend Analyses, 2021 to 2034 for the following By Application:
6.2.1. Shale Gas
6.2.2. Tight Oil
6.2.3. Tight Gas
Chapter 7. Market Segmentation 3: By Well Type Estimates & Trend Analysis
7.1. By Technology & Market Share, 2024-2034
7.2. Market Size (Value US$ Mn) & Forecasts and Trend Analyses, 2021 to 2034 for the following By Well Type:
7.2.1.1. Horizontal Well
7.2.1.2. Vertical Well
Chapter 8. Hydraulic Fracturing Market Segmentation 4: Regional Estimates & Trend Analysis
8.1. North America
8.1.1. North America Hydraulic Fracturing Market revenue (US$ Million) estimates and forecasts By Technology, 2021-2034
8.1.2. North America Hydraulic Fracturing Market revenue (US$ Million) estimates and forecasts By Application, 2021-2034
8.1.3. North America Hydraulic Fracturing Market revenue (US$ Million) estimates and forecasts By Well Type, 2021-2034
8.1.4. North America Hydraulic Fracturing Market revenue (US$ Million) estimates and forecasts by country, 2021-2034
8.1.4.1. U.S.
8.1.4.2. Canada
8.2. Europe
8.2.1. Europe Hydraulic Fracturing Market revenue (US$ Million) by By Technology, 2021-2034
8.2.2. Europe Hydraulic Fracturing Market revenue (US$ Million) estimates and forecasts By Application, 2021-2034
8.2.3. Europe Hydraulic Fracturing Market revenue (US$ Million) estimates and forecasts By Well Type, 2021-2034
8.2.4. Europe Hydraulic Fracturing Market revenue (US$ Million) by country, 2021-2034
8.2.4.1. Germany
8.2.4.2. Poland
8.2.4.3. France
8.2.4.4. Italy
8.2.4.5. Spain
8.2.4.6. UK
8.2.4.7. Rest of Europe
8.3. Asia Pacific
8.3.1. Asia Pacific Hydraulic Fracturing Market revenue (US$ Million) by By Technology, 2021-2034
8.3.2. Asia Pacific Hydraulic Fracturing Market revenue (US$ Million) estimates and forecasts By Application, 2021-2034
8.3.3. Asia Pacific Hydraulic Fracturing Market revenue (US$ Million) estimates and forecasts By Well Type, 2021-2034
8.3.4. Asia Pacific Hydraulic Fracturing Market revenue (US$ Million) by country, 2021-2034
8.3.4.1. China
8.3.4.2. India
8.3.4.3. Japan
8.3.4.4. Australia
8.3.4.5. Rest of Asia Pacific
8.4. Latin America
8.4.1. Latin America Hydraulic Fracturing Market revenue (US$ Million) by By Technology, 2021-2034
8.4.2. Latin America Hydraulic Fracturing Market revenue (US$ Million) estimates and forecasts By Application, 2021-2034
8.4.3. Latin America Hydraulic Fracturing Market revenue (US$ Million) estimates and forecasts By Well Type, 2021-2034
8.4.4. Latin America Hydraulic Fracturing Market revenue (US$ Million) by country, (US$ Million) 2021-2034
8.4.4.1. Brazil
8.4.4.2. Rest of Latin America
8.5. Middle East & Africa
8.5.1. Middle East & Africa Hydraulic Fracturing Market revenue (US$ Million) by By Technology, (US$ Million)
8.5.2. Middle East & Africa Hydraulic Fracturing Market revenue (US$ Million) estimates and forecasts By Application, 2021-2034
8.5.3. Middle East & Africa Hydraulic Fracturing Market revenue (US$ Million) estimates and forecasts By Well Type, 2021-2034
8.5.4. Middle East & Africa Hydraulic Fracturing Market revenue (US$ Million) by country, (US$ Million) 2021-2034
8.5.4.1. South Africa
8.5.4.2. GCC Countries
8.5.4.3. Rest of MEA
Chapter 9. Competitive Landscape
9.1. Major Mergers and Acquisitions/Strategic Alliances
9.2. Company Profiles
9.2.1. Halliburton (US),
9.2.2. Schlumberger (US),
9.2.3. Baker Hughes (US),
9.2.4. NexTier Oilfield Solutions(US),
9.2.5. Calfrac Well Service (Canada),
9.2.6. Trican Well Service (Canada),
9.2.7. STEP Energy Services(Canada),
9.2.8. Nine Energy Services(US),
9.2.9. FTS International (US),
9.2.10. U.S. Well Services (US),
9.2.11. Petro Welt Technologies AG (Austria),
9.2.12. AFG Holdings, Inc (US),
9.2.13. Liberty Oilfield Services (US),
9.2.14. Patterson-UTI Energy, Inc. (US),
9.2.15. RPC Inc. (US),
9.2.16. ProPetro Holding Corp. (US),
9.2.17. National Energy Services Reunited Corp. (US),
9.2.18. Tacrom Services Srl (Romania),
9.2.19. Anton Oilfield Services Group (China),
9.2.20. TAM International, Inc. (US),
9.2.21. Legend Energy Services (US),
9.2.22. ProFrac (US)
Hydraulic Fracturing Market By Technology-
Hydraulic Fracturing Market By Well Type-
Hydraulic Fracturing Market By Application-
Hydraulic Fracturing Market By Region-
North America-
Europe-
Asia-Pacific-
Latin America-
Middle East & Africa-
InsightAce Analytic follows a standard and comprehensive market research methodology focused on offering the most accurate and precise market insights. The methods followed for all our market research studies include three significant steps – primary research, secondary research, and data modeling and analysis - to derive the current market size and forecast it over the forecast period. In this study, these three steps were used iteratively to generate valid data points (minimum deviation), which were cross-validated through multiple approaches mentioned below in the data modeling section.
Through secondary research methods, information on the market under study, its peer, and the parent market was collected. This information was then entered into data models. The resulted data points and insights were then validated by primary participants.
Based on additional insights from these primary participants, more directional efforts were put into doing secondary research and optimize data models. This process was repeated till all data models used in the study produced similar results (with minimum deviation). This way, this iterative process was able to generate the most accurate market numbers and qualitative insights.
Secondary research
The secondary research sources that are typically mentioned to include, but are not limited to:
The paid sources for secondary research like Factiva, OneSource, Hoovers, and Statista
Primary Research:
Primary research involves telephonic interviews, e-mail interactions, as well as face-to-face interviews for each market, category, segment, and subsegment across geographies
The contributors who typically take part in such a course include, but are not limited to:
Data Modeling and Analysis:
In the iterative process (mentioned above), data models received inputs from primary as well as secondary sources. But analysts working on these models were the key. They used their extensive knowledge and experience about industry and topic to make changes and fine-tuning these models as per the product/service under study.
The standard data models used while studying this market were the top-down and bottom-up approaches and the company shares analysis model. However, other methods were also used along with these – which were specific to the industry and product/service under study.
To know more about the research methodology used for this study, kindly contact us/click here.
