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Electric Fracking Market: Introduction

  • Electric fracking is the process of using gas turbine to generate electricity to power the hydraulic fracking process. The conventional hydraulic fracking process employs diesel-fueled engines to power the pumps.
  • Hydraulic fracking is process, wherein a rock is fractured with the help of pressurized liquid to stimulate the well. The technique consists of injection of high pressure fracking fluid into the bore well to fracture the deep-rock formations. This creates gaps through which natural gas, petroleum, and brine flow more freely.
  • Diesel powered engines are used to power the pumps in conventional hydraulic fracking. This would result in high carbon emission and uneconomical process. However, gas turbines are used to generate electricity in case of electric fracking. Pumps are operated on these turbines.
  • Electric fracking units are compact, and have high efficiency and low maintenance. The overall logistics cost also reduces, as just a single truck can carry all the required auxiliaries for fracking.

Key Drivers of Global Electric Fracking Market

  • Electric fracking has many benefits vis-à-vis hydraulic fracking. The overall installation process is easy in electric fracking, as no crane is required and all auxiliaries are carried on a single truck. Electric fracking increases the pressure pumping reliability and minimizes the fleet size by 35% to 40%.
  • High maintenance and diesel fuel costs are eliminated in electric fracking. Operations are safer and can be remotely monitored or diagnosed. These factors are anticipated to drive the electric fracking market in the near future.

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Key Development

  • Baker Hughes, a GE Company LLC, introduced gas turbines for electric fracking. The company’s mobile and modular turbines allow its clients to switch from diesel-fueled engines to gas turbines that produce electricity to power pressure pumps for hydraulic fracking operations. The new electric fracking solutions help save on fuel costs and fulfill commitments to reduce carbon emissions.

North America Expected to Hold Major Share of Global Electric Fracking Market

  • Based on region, the global electric fracking market can be segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
  • North America is anticipated to dominate the global electric fracking market in 2018. The trend is projected to continue during the forecast period owing to presence of ample unconventional reservoirs in the region. Large numbers of crude oil and natural gas oil reserves are also present in the region.
  • North America comprises shale gas reserves, which are attracting upstream companies from various regions, as shale gas is a green and clean fuel compared to coal and oil
  • Middle East & Africa is anticipated to account for major share of the global electric fracking market during the forecast period. Countries in the region such as Egypt, Jordon, Saudi Arabian, Algeria, and Tunisia are planning to commence shale gas extraction. Some companies have already started shale gas extraction.
  • The electric fracking market in Europe is estimated to expand at a healthy pace owing to the ban on conventional hydraulic fracking in Germany, France, the Netherlands, Scotland, and Bulgaria due to the pollution norms
  • The electric fracking market in Asia Pacific is estimated to expand at a moderate pace during the forecast period. Demand for fracking is rising in China in order to reduce the dependence on foreign energy sources. The market in Latin America is likely to be expand at slow pace during the forecast period.

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Key Players Operating in the Electric Fracking Market

Leading companies operating in the global electric fracking market include:

  • Baker Hughes, a GE Company LLC

Global Electric Fracking Market: Research Scope

Global Electric Fracking Market, by Application

  • Onshore
  • Offshore             

Global Electric Fracking Market, by Water Depth

  • Shallow
  • Medium
  • Deepwater

Global Electric Fracking Market, by Region

  • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    • U.K.
    • France
    • Italy
    • Spain
    • Russia & CIS
    • Rest of Europe
  • Asia Pacific
    • China
    • India
    • Australia
    • ASEAN
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Venezuela
    • Rest of Latin America
  • Middle East & Africa
    • Saudi Arabia
    • UAE
    • Qatar
    • Nigeria
    • Rest of Middle East & Africa 

This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.

Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:

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  • Strategic Frameworks to boost the growth journey

The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.

The following regional segments are covered comprehensively:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

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Below is a snapshot of these quadrants.

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The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:

1. What can be the best investment choices for venturing into new product and service lines?

2. What value propositions should businesses aim at while making new research and development funding?

3. Which regulations will be most helpful for stakeholders to boost their supply chain network?

4. Which regions might see the demand maturing in certain segments in near future?

5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?

6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?

7. Which government regulations might challenge the status of key regional markets?

8. How will the emerging political and economic scenario affect opportunities in key growth areas?

9. What are some of the value-grab opportunities in various segments?

10. What will be the barrier to entry for new players in the market?

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Electric Fracking Market

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