Latin America Pressure Pumping Market

Latin America Pressure Pumping Market Size, Share & Trends (2021 - 2026)

As per the latest report by our team, the size of the Latin America Pressure Pumping Market is expected to register a decent CAGR between the forecast period of 2021 – 2026.

Pressure pumping involves injecting high-pressure fluid to create cracks in the wellbore. The pressure of the fluid is dependent on the target depth and can be varied accordingly in the application. The fluid is a mixture of some chemical additives like sodium chloride, citric acid, ethylene glycol, and many others for various purposes. The growth of the market in Latin America is moving at a faster rate and is expected to have the highest CAGR oncoming years.

Drivers, Challenges & Opportunities in the Latin America Pressure Pumping Market

Replacement of traditional equipment with the latest ones is the major factor bolstering the demand of the market. Rising investments in oil and gas companies by private and public organizations are additionally lavishing the demand of the market.

However, the lack of skilled labor in managing the operations is slightly declining the growth of the regional market. Stringent rules and regulations by the government in concern towards environmental safety are limiting the demand of the market.

Growth opportunities for the market lie in the increasing prevalence to improve crude oil productivity in the industries. Decreasing the level of water in the underground is ascribed to accelerate the demand of the market.

This report has been segmented & sub-segmented into the following categories.

• By Services: Hydraulic Fracturing, Cementing and Others

• By Application: Land and Onshore

• By Country: Brazil, Mexico, Argentina, Chile and Rest of Latin America

On the basis of services, Hydraulic fracturing is holding the highest shares of the market with the rise in the applications from low permeability reservoirs.

On the basis of Application, the Onshore segment has the highest growth rate from the past decade and is to continue with the same flow in the foreseen years. The rise in the demand for extraction of oil in the onshore with advanced techniques is leveraging the demand of the market.

On the basis of Region, Latin America is gaining traction over the shares of the market by owing to the adoption of the latest technological developments. The increasing scale of oil and gas companies with huge investments is escalating the demand of the market. Also, growing awareness in the utilization of the devices effectively is propelling the growth rate of the market in this region.

Major companies dominating the Latin American Pressure Pumping Market are Liberty Oilfield Services, Calfrac Well Services Ltd., China Oilfield Services Limited, Eneroil Offshore Drilling Ltd and Halliburton Company among others.