Hydraulic fracturing is a technique that has been commercially in use since the last few decades for the extraction of crude oil and natural gas. The process of hydraulic fracturing mainly consists of injection of water along with the propping agents and chemical additives at a very high pressure and temperature to create and open a network of fractures to enhance the rock permeability. Initially, the fracturing fluid is injected into the formation at a high pressure of approximately 600 bars. The fluid pressure creates fractures that increase in width as the injection continues. Fractures can stretch over tens or hundreds of meters away from the wellbore.
Majority of the injected hydraulic fracturing fluid flows back to the surface, while the rest remains inside the wellbore. Flow-back water also comprises saline water mixed with dissolved minerals from the rock formation. The flow-back water is either collected in tanks/pits for reuse or is either disposed. The network of fractures that is created links the shale formation to the well and allows the gas to travel from the rock pores to the surface. Hydraulic fracturing of unconventional reservoirs is basically combined with horizontal drilling. Fractures are created at set intervals along the horizontal wells. Stages are fractured sequentially, starting with the farthest away and moving towards the start of the well. Fracturing fluids are generally a mixture of water, chemical additives, and propping agent. The composition of the hydraulic fracturing fluid is highly fluctuating and majorly depends on the geological properties of the rock formation.
In the current scenario, plug and perf and sliding sleeves are the most commonly used techniques for hydraulic fracturing. Plug and perf is a widely used technique for wellbore completions. It is a cased hole completion technique. It requires bridge plug and a perforation gun to be placed at a specific depth in a wellbore. Once the plug is set, the perforation gun directly fires holes in the casing, thereby piercing the reservoir section between the plugs. Hydraulic fracturing process then takes place and fracturing fluid is then pumped in. The process is then repeated at each and every stage. Sliding sleeves is a newer technique in comparison to plug and perf. It is especially designed to speed up the fracturing jobs. Sliding sleeves is an open hole completion technique through which multiple stages can be easily fractured in a single pumping session. High efficiency is achieved by performing multiple fractures in a single pumping session, thereby resulting in a significant time and cost savings. Hazards associated with drilling activities also get reduced as multiple fractures are carried out in a single session.
Hydraulic fracturing is utilized in North America on a large scale owing to the presence of vast unconventional reserves in the region. A large number of wells in the U.S. are stimulated by hydraulic fracturing. In North America, hydraulic fracturing is being implemented since over 60 years on crude oil and natural gas wells. The shale gas reserves in North America are attracting upstream companies from across the globe as shale gas is a clean and green fuel compared to oil and coal. Also, the successful evolution of shale gas reserves has reduced North America’s dependency on foreign crude oil and natural gas imports from Middle East. The shale rock segment in North America is considered to be a game changer as it has the potential to transform the entire oil and gas sector across the globe. The output received from hydraulically fractured wells is around 40%-45% of the crude oil production and 65%-70% of natural gas production in the U.S. The hydraulic fracturing market in the U.S. ensures energy security, economic growth, and large employment opportunities. Barnett, Marcellus, Utica, and Fayetteville are the major shale gas basins in the region.
This research study analyzes the market for hydraulic fracturing in terms of volume and revenue. The hydraulic fracturing market has been segmented on the basis of technology, application, and geography. For conducting the research, 2013 has been taken as the base year while all forecasts have been presented for the 2014–2022 period. Market data for all the segments has been provided at the regional as well as country-specific level for the 2013–2022 period. The regional segments have been further divided into country level segments, which include the major players in the global hydraulic fracturing market. The report provides a comprehensive competitive landscape and features companies engaged in the hydraulic fracturing business. This report includes the key market dynamics affecting the overall hydraulic fracturing industry globally. The report also provides a detailed industry analysis of the global hydraulic fracturing market with the help of the Porter’s Five Forces model. The Porter’s Five Forces analysis aids in understanding the five major forces that affect the industry structure and profitability of the global hydraulic fracturing market. The forces analyzed are the bargaining power of buyers, bargaining power of suppliers, threat from new entrants, threat from substitutes, and degree of competition.
The high-level analysis in the report provides detailed insights into the hydraulic fracturing business globally. Major drivers, restraints, and opportunities in the hydraulic fracturing market were analyzed in detail and are illustrated in the report with the help of supporting graphs and tables. There are currently numerous growth drivers for the hydraulic fracturing industry. One of the most prominent drivers is the presence of large unconventional gas reserves for the hydraulic fracturing market. Apart from this, deep-water offshore reserves also boost the demand for hydraulic fracturing technology. Market attractiveness analysis was carried out for the hydraulic fracturing market on the basis of geography. Market attractiveness was estimated on the basis of common parameters that directly impact the market in different regions.
The hydraulic fracturing market was further segmented on the basis of technology and application type. Technologies included in this report are plug and perf and sliding sleeves. The application segments of the hydraulic fracturing market are conventional, shale gas, and others (shale oil, tight gas, tight oil, and coal bed methane). The hydraulic fracturing market was analyzed across six geographies: North America, Europe, Asia Pacific, South America, Middle East, and Africa. Regional data has been provided for each sub-segment of the hydraulic fracturing market. Key market participants in the hydraulic fracturing market include Baker Hughes Inc., Calfrac Well Services Ltd., FTS International, Inc., Halliburton Company, Nabors Industries Ltd., RPC, Inc., Schlumberger Limited, Trican Well Services Limited, United Oilfield Services, Inc., and Weatherford International Ltd. The report provides an overview of these companies, followed by their financial details, business strategies, and recent developments.
The global hydraulic fracturing market has been segmented as follows:
Hydraulic Fracturing Market: Technology Analysis
- Plug and Perf
- Sliding Sleeves
Hydraulic Fracturing Market: Application Analysis
- Shale gas
Hydraulic Fracturing Market: Region Analysis
- Rest of North America
- Rest of Europe
- Rest of Asia Pacific
- Rest of South America
- Saudi Arabia
- Rest of Middle East
- Rest of Africa