Pressure Pumping Market

Pressure Pumping Market Size, Trends & Growth (2021 - 2026)

As per our recent research analysis, it is expected that the size of the Global Pressure Pumping Market was worth USD 83.65 billion in 2021 and is expected to register a CAGR of 4.1% from 2021 to 2026.

Pressure pumps are mainly used to propagate the resources from low permeability resources. These devices are not the same as regular drilling procedures as they can recover the most difficult tasks in extracting resources. The pressure pumping market is expected to grow at a CAGR of 3.6% during the forecast period.

Industry Growth Drivers

Increased activities in the production and exploration of unconventional shale gas, by which further operations will get coupled like sand controlling, enhanced oil recovery (EOR) services, cementing, and acidization. And the services of pressure pumping are implemented in the mature reservoirs which face the difficulty in extraction of oil are propelling the growth of the global pressure pumping market.

The rising demand for energy and surge for the recoverable explorations, resources, and productions is one of the significant factors for the growth of the global pressure pumping project. Also, increasing investments made by the major players in oil and gas companies on oil drilling activities is the factor that is fuelling the market.

Key Challenges

However, expensiveness in the initial installation process and the increasing number of drilled but uncompleted wells in various regions are hindering the growth of the global pressure pumping market.

And the factors like strict government regulations, concerns related to contamination of water, and earth seismic activity are some factors that are hampering the pressure pumping business. In addition, lack of labor who are trained or got skilled in managing the applications of pressure pumping technologies is lagging the growth of the market.

Growth Opportunities

The increasing shale gas basins & usage of unconventional sources are anticipated to create the opportunities for pressure pumping market during the forecast period.

Also, rising processes like waterless fracturing-foam, an alternative to hydraulic fracturing in which liquefied petroleum gas (LPG) which uses propane liquefied into a gel, are expected to create further opportunities for the market. In the waterless fracturing-foam, propane is inserted into a shale rock formation in the place of water, and this usage of propane does not block all path-ways. Therefore, more natural gas is released in this process. Moreover, this process will not emit poisonous toxins and underground radioactive chemicals to the surface. Even if it does come back to the surface, then it can have another usage or be used again for LPG. Due to the advantage of the usage of the waterless fracture-foam, its adoption is rising globally.

REPORT COVERAGE

This research report on the Global Pressure Pumping Market has been segmented & sub-segmented into the following categories and analyzed market size & forecast for each segment until 2024.

Pressure Pumping Market – By Well Type

• Land
• Onshore

On the basis of well type, then the onshore segment is dominating with the highest shares of the market. Increasing depletion in onshore for extracting water at deeper levels is fueling the growth of the market.

Pressure Pumping Market – By Service Type

• Remedial Cementing
• Cementing Services
• Hydraulics & Fracturing

On the basis of service type, the Remedial cementing type is gaining attention in holding the largest shares if the market. The increasing scale of large industries is outshining the growth of the market.  

Pressure Pumping Market – By Region

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa

Regionally, the market is segmented into Asia Pacific, North America, Europe, Middle East and Africa. North America and Europe are playing a vital role in holding the largest shares of the market. Increasing capital income in developed and developing countries is bolstering the demand of the market in these regions.

The Asia Pacific is growing at a higher rate from recent years and is also to continue with the same growth rate in the review period. Acceptance of the latest technologies and launch of various products in favor of the end user industries is escalating the growth of the market. The Middle East and Africa are anticipated to have inclined growth rate in near future.

Top Companies in the Pressure Pumping Market

Companies like the following China Oilfield Services Ltd., Baker Hughes Incorporated, Weatherford International Limited, Schlumberger Limited, Premier Pressure Pumping, Halliburton Company, Universal and Weatherford International, Frontier Oilfield Services Inc., Superior Energy Services, Trican Well Services Limited, and Calfrac Well Services Ltd are leading the Global Pressure Pumping market and profiled in this report.