Global Pressure Pumping Market in Oil and Gas Industry 2015-2019
About Pressure Pumping
Pressure pumping services increase access to the proven reserves, improve the asset value, ROI, and reservoir yield and integrity. They are generally used in maturing reservoirs or places where oil extraction conditions are challenging. The ever-increasing demand for oil and gas has led to a shift toward EOR. This has led to increased activities in unconventional gas plays, which utilize advanced techniques to enhance the reservoir recovery. Hence, pressure pumping has been gaining traction in the market due to increased process complexity of oil and gas exploration.
TechNavio's analysts forecast the Global Pressure Pumping market in Oil and Gas industry to grow at a CAGR of 14.6 percent over the period 2014-2019.
Covered in this Report
The Global Pressure Pumping market in Oil and Gas industry can be divided into three segments based on applications: Hydraulic Fracturing, Cementing, and Others.
TechNavio's report, Global Pressure Pumping Market in Oil and Gas Industry 2015-2019, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the Americas, and the EMEA and APAC regions; it also covers the Global Pressure Pumping market landscape in the Oil and Gas industry and its growth prospects in the coming years. The report also includes a discussion of the key vendors operating in this market.
TechNavio Announces the Publication of its Research Report – Global Pressure Pumping Market in Oil and Gas Industry 2015-2019
TechNavio recognizes the following companies as the key players in the Global Pressure Pumping Market in Oil and Gas Industry: Baker Hughes, Halliburton Corp., National Oilwell Varco, Schlumberger and Weatherford International.
Other Prominent Vendors in the market are: Calfrac Well Services, Frac Tech Services International, Sanjel and Trican.
Commenting on the report, an analyst from TechNavio’s team said: “One key trend witnessed in this market is the rise in unconventional oil and gas resources. Rapidly increasing populations and industrialization have led to the increased demand for oil and gas. The requirement of pressure pumps is huge because of the complexity and unfavorable conditions for unconventional exploration and production.”
According to the report, one of the main drivers in this market is the increase in global oil and gas demand. As a result of the increased E&P of oil and gas, many industries worldwide are adopting this technology.
Further, the report states that a major challenge confronting the market is the shortfall in the revenue generation of oil companies. Because of decreasing imports from the US and China, crude oil prices have declined leading to lower revenue generation by the oil companies.
Baker Hughes, Halliburton, National Oil Varco, Schlumberger, Weatherford International, Calfrac Well Services, Frac Tech Services, Sanjel, Trican
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