New Analysis from Global Industry Analysts Reveals Steady Growth for Hydraulic Fracturing, with the Market to Reach $71.1 Billion Worldwide by 2026
SAN FRANCISCO, June 23, 2022
SAN FRANCISCO, June 23, 2022 /PRNewswire/ -- A new market study published by Global Industry Analysts Inc., (GIA) the premier market research company, today released its report titled "Hydraulic Fracturing - Global Market Trajectory & Analytics". The report presents fresh perspectives on opportunities and challenges in a significantly transformed post COVID-19 marketplace.
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Edition: 9; Released: January 2022
Executive Pool: 1167
Companies: 22 - Players covered include Baker Hughes, a GE company; Calfrac Well Services, Ltd.; FTS International; Halliburton; Rpc, Inc.; Schlumberger Ltd.; Trican Well Services Ltd.; United Oilfield Services Sp. z o.o.; Weatherford International Ltd. and Others.
Coverage: All major geographies and key segments
Segments: End-Use (Shale Gas, Tight Gas, Tight Oil, Other End-Uses); Segment (Plug & Perf, Sliding Sleeve)
Geographies: World; United States; Canada; Japan; China; Europe (France; Germany; Italy; United Kingdom; Spain; Russia; and Rest of Europe); Asia-Pacific (Australia; India; South Korea; and Rest of Asia-Pacific); Latin America (Argentina; Brazil; Mexico; and Rest of Latin America); Middle East (Iran; Israel; Saudi Arabia; United Arab Emirates; and Rest of Middle East); and Africa.
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Amid the COVID-19 crisis, the global market for Hydraulic Fracturing estimated at US$38.2 Billion, is projected to reach a revised size of US$71.1 Billion by 2026, growing at a CAGR of 10.6% over the analysis period. Plug & Perf, one of the segments analyzed in the report, is projected to record a 10.7% CAGR and reach US$67.4 Billion by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Sliding Sleeve segment is readjusted to a revised 9.9% CAGR for the next 7-year period.
The Hydraulic Fracturing market in the U.S. is estimated at US$11.5 Billion in the year 2021. China, the world`s second largest economy, is forecast to reach a projected market size of US$14.8 Billion by the year 2026 trailing a CAGR of 14% over the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 7.3% and 9.2% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 8.3% CAGR. More
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SOURCE Global Industry Analysts, Inc.