Pressure pumping services or pressure pumping systems are used in unconventional oil fields and mature oil fields. Pressure pumping services or systems are applied by the operator company to those oilfields which are underperforming in terms of hydrocarbon production. Pressure pumping is employed to secure wellbore, enhance reservoir drainage capacity, and deploy effective coil tubing interventions. In its early stage, hydrocarbon production from most of the oil fields is obtained at desired or expected rate. Later, the production level falls due to factors such as sand problem in the reservoir, alteration to near wellbore porosity and permeability, pressure loss in reservoir, and water coning. Operations such as hydraulic fracturing (hydrofrac), coil tubing, other well interventions, and cementing or squeeze cementing operations are carried out in order to overcome the factors.

Based on operation, the pressure pumping service market can be categorized into hydrofrac, cementing, and others. It is essential to keep the optimum pressure in the well. Under the hydraulic fracturing process, the excess pressure is required to create fractures in the reservoir. Cementing operations are routine operations in oil well drilling.

Hydraulic fracturing is the common process of tight sand reservoirs and unconventional shale and CBM reservoirs. Thus, the pressure pumping services market can also be segmented in terms of reservoir type. Based on well type, the pressure pumping services market can be divided into vertical and horizontal. Most of the wells drilled are horizontal due to the technological developments in the upstream oil & gas sector. Horizontal wells cover larger drainage area of the reservoir than conventional vertical wells.

Demand for hydrocarbons has increased significantly over the last few decades. Hydrocarbons such as oil and natural gas are key components of energy consumption. Increase in demand for oil and gas has encouraged the global oil companies to explore unconventional reservoirs such as shale reservoirs, CBM reservoirs, and deep & ultra-deep offshore areas. These new exploration ventures are the key drivers of pressure pumping services market. Rise in number of aging or maturing oil field across the globe is another driver of the pressure pumping services market. Enhanced recovery methods are employed to increase the production level from such oilfields. Sometimes, hydraulic fracturing operation is carried out to increase the production rate. Fluctuation in prices of oil, stringent environmental regulations, and trend of use of renewable energy are the major restraints of the pressure pumping services market.

North America is expected to dominate the pressure pumping services market owing to the recent development of shale reservoirs. It is also becoming one of the major exporters of hydrocarbons. The Government of the U.S. has employed strong strategies for the development of oil and gas reserves. Middle East & Africa is another lucrative region of the pressure pumping services market. The vast, existing oil and gas reserves in the region provide lucrative opportunities to the pressure pumping services market. Demand for fossil fuel energy is rising in Asia Pacific, led by the growth in economy of countries such as China and India. Of late, China, India, Malaysia, Brunei, and Indonesia have expanded their exploration activities. This is likely to offer opportunities to the pressure pumping services market.

Key players operating in the pressure pumping services market are Weatherford, Halliburton, Schlumberger Limited, Trican Well Services, Stimulation Pumping Services LLC., BHGE, Basic Energy Services, BJ Services., Patterson-UTI Energy Inc, Superior Energy Services, Inc., and Premier Pressure Pumping.

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:

  • Customer Experience Maps
  • Insights and Tools based on data-driven research
  • Actionable Results to meet all the business priorities
  • 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

The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.

Below is a snapshot of these quadrants.

1. Customer Experience Map

The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.

2. Insights and Tools

The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.

3. Actionable Results

The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.

4. Strategic Frameworks

The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.

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?

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.

Custom Market Research Services

TMR offers custom market research services that help clients to get information on their business scenario required where syndicated solutions are not enough.

REQUEST CUSTOMIZATION

Pressure Pumping Services Market

Pre Book