Pressure Pumping Market 2019 Worldwide Overview by Size, Share, Growth, Top Leaders, Opportunities, Drivers and Challenges Till 2023

Global Pressure Pumping Market Information Report by Well Type (Land and Offshore), by Services (cementing, hydraulics and fracturing) And by Region - Forecast to 2027

Pune, India - March 5, 2019 /MarketersMedia/ —

The global market of Pressure Pumping is booming and expected to gain prominence over the forecast period. The global Pressure Pumping market is forecasted to demonstrate an exponential growth by 2027, surpassing its previous growth records in terms of value with a whooping, CAGR during the estimated period (2017 2027). Pressure pumping is a propagation of fractures through layers of rock using pressurized fracturing fluid and pumping the cement into the well bore to complete it. It is primarily used to extract resources from low permeability reservoirs such as shale gas, and unconventional liquids, which are difficult to recover through regular drilling procedures.

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Prominent Players:
Some of the key players in the Pressure Pumping market are Weatherford International, China Oilfield Services Ltd., Halliburton Company, Saipem S.p.A., Schlumberger Limited, Baker Hughes and Superior Energy Services

Industry Related News:
In January 2016, Trican Well Service Ltd announce that it has entered into a definitive agreement with Keane Group, a privately-held, U.S. based well completion services company for the sale of Trican's United States pressure pumping business. The agreed purchase price for the disposition is USD 200 million, or CDN 285 million.
In March 2017, Trican and Canyon to combine to create premier canadian pressure pumping company

Intended Audience
Pressure pumping Contractors
Pressure pumping Suppliers
Research and Development (R&D) Companies

Pressure Pumping Market Segmental Analysis:
The Pressure pumping market has been segmented on the basis of Well Type as Land and Offshore.
Based on services, the market has been segmented into cementing, hydraulics fracturing, and others. Hydraulics fracturing dominates the service segment of global market. Hydraulics fracturing is a process of pumping fluid into a wellbore to create enough pressure to crack, or fracture, the rock layer. The fluid usually contains a proppant like sand, that helps keep the fractures open to allow oil and gas to be produced to the well. Cementing services is the second major segment for pressure pumping market and it is expected to witness strong growth over the forecast period.
Based on well type, the market has been segmented land and offshore. Onshore dominates the well type segment of global market. Offshore segment is expected to be the fastest growing segment during the forecast period. Increasing the exploration activities in deep and ultra-deep waters especially in the North Sea, and Gulf of Mexico is expected to drive demand in the sector over the forecast period.
Based on regions, Comprises Geographical regions - North America, Europe, Asia Pacific, Middle East & Africa and South America.

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Detailed Regional Analysis:
North America dominates the Pressure Pumping market. The U.S. accounts for the largest market share in the North American region. The advancements in unconventional drilling technologies, which have attracted capital for oil and gas drilling projects. Additionally, vast hydrocarbon resources in the U.S. Shale basins and continuous offshore drilling in the Gulf of Mexico region, are driving the demand of the market.
Asia Pacific and Europe are the other major market for the Pressure Pumping. Increasing demand for energy due to urbanization & industrialization from the countries such as India, China, and Indonesia among others driving the demand of the market in Asia Pacific region. The Europe Pressure Pumping market is expected to be dominated by countries such as U.K, Norway and Russia. New discovery of oil has been found in the Laptev Sea offshore Northern Russia and several drilling projects have been approved in the Russian Arctic sea region closer to the North Pole are the factors driving the market in the region. It is expected to contribute significantly during the forecast period.

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Source URL: https://marketersmedia.com/pressure-pumping-market-2019-worldwide-overview-by-size-share-growth-top-leaders-opportunities-drivers-and-challenges-till-2023/488609

Source: MarketersMedia

Release ID: 488609