Market Highlights

The demand for hydraulic fracturing market is expected to be driven by the rapid increase in the rate of production and it provides access to strategy of shifting energy through natural gas and energy security by domestic supply. The increase in demand of energy and the increase in inclination towards production and exploration of non-conventional sources of energy such as shale gas and tight oil among others is expected to further drive the growth of the market. Favorable government rules and regulations and the increased government expenditure for promoting the extraction of natural resources is further expected to drive the growth of the market.

Key Players

The key players of hydraulic fracturing market are

• Halliburton Company (U.S.),
• Schlumberger Limited (France),
• Weatherford International (U.S.),
• United Oilfield Services, Inc. (U.S.),
• Cudd Energy Services (Texas),
• Calfrac Well Services Ltd. (U.S.),
• Trican Well Services Ltd (U.S.),
• Tacrom Services S.R.L (Romania)
• Superior Well Services, Inc. (U.S.)
• others.

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North America accounts for the highest market share

North America region is utilizing hydraulic fracturing on a very large scale due to presence of natural resources in huge quantities. A large number of wells in the region are stimulated by the use of hydraulic fracturing. Shale gas reserves in North America are attracting many huge companies as the gas is clean and green fuel compared to oil and coal. The successful evolution of shale gas reserves, has reduced the dependency of the region on foreign crude oil and natural gas, thereby leading to the growth of the market.