Global Hydraulic Fracturing Market 2015-2019
About Hydraulic Fracturing
Hydraulic fracturing or hydraulic fracking is a technique of well stimulation in which a fluid at a high pressure (typically water mixed with sand and chemicals) is injected into an oil well to create minor fractures in the deep rock foundations to allow natural gas, petroleum, and brine to move toward the well from deep reserves. The technique of fracturing is commonly applied to wells for shale gas and oil recovery. Such stimulation is usually carried out once during the productive life of the well and helps in the extraction of fluids (gas and oil), thereby increasing the productivity of the well. The hydraulic fracturing technique used as field production declines with time.
TechNavio's analysts forecast the Global Hydraulic Fracturing market to grow at a CAGR of 12.5 percent over the period 2014-2019.
Covered in this Report
TechNavio's report, the Global Hydraulic Fracturing Market 2015-2019, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects in the coming years. It also includes the market segmentation based on type of fracturing fluid as well as geography. The report includes a discussion of the key vendors operating in this market. .
TechNavio Announces the Publication of its Research Report – Global Hydraulic Fracturing Market 2015-2019
TechNavio recognizes the following companies as the key players in the Global Hydraulic Fracturing Market: Baker Hughes, Halliburton Corp., Schlumberger Ltd., Superior Well Services, Inc. and Weatherford International.
Other Prominent Vendors in the market are: Calfrac Well Services, Nabors Industries, Tacrom Services, Trican Well Services, United Oilfield Services and Weatherford International.
Commenting on the report, an analyst from TechNavio’s team said: “One key trend upcoming in this market is the shift of preference toward horizontal drilling for oil and gas recovery. With the development of unconventional reserves, there has been a substantial shift from vertical drilling to horizontal drilling. Horizontal drilling is used for the recovery of unconventional oil and gas reserves such as shale gas.”
According to the report, one of the major drivers in this market are the huge investments in the Shale Oil and Gas market by international vendors, particularly in the US. Many market vendors such as Halliburton, Baker Hughes, Schlumberger, and many others are investing in shale oil and gas sources to increase production and meet the growing global demand.
Further, the report states that one of the major challenges in this market is the proper discharging of fracturing fluids and chemicals. Currently, the flowback fluids generated during the hydraulic fracturing process are discharged into the permitted and monitored injection wells.Baker Hughes, Halliburton, Schlumberger, Superior Well Services, Weatherford International, Calfrac Well Services , Nabors Industries , Tacrom Services , Trican Well Services , United Oilfield Services
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