Hydraulic fracturing is the process of creating fractures in the rocks by injecting a mixture of sand and water to take out the oil and gas. This process allows the wellbore to crack underground and helps it to open further to flow out petroleum and natural gas. Hydraulic fracturing is used in mining industry. Government support helps it to increase its operations. The driving factors for hydraulic fracturing include the growing use of natural gas, technological advancements, increasing number of reservoirs, huge investments, mergers and acquisitions and so on. The hydraulic fracturing market is restrained by water availability, stringent government regulations and opposition by the public due to its hazardous environmental impact.
North America contributes the major market share in the hydraulic fracturing market because in America regulations are favorable to this sector which helps the market to grow. The market in Rest of the world is still in a growing position.
Continued development in fracturing technology leads this market to the highest level of growth. Providing more innovative tools for drilling, water availability for the use of consumption, use of green technology, prevention of environment pollution could be the opportunities for this market which needs more attention in these areas.
The key market players that support the economy to grow by providing their services include Weatherford International Inc. (U.S.), Cudd Energy services (U.S.), United Oilfield Services (U.S.), Baker Hughes (U.S.), Halliburton (U.S.), FTS International (U.S.), Calfrac Well Services (U.S.), Schlumberger (U.S.), Superior Well Services (U.S.).
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