San Francisco, California, January 24, 2018 – Over the years, onshore natural resources and those in the shallow water fields have depleted considerably, compelling the companies operating in the oil and gas industry to explore unconventional onshore locations as well as go into deep water. For these exploring and extracting activities, pressure pumping services are a must, and consequently the market for the same is flourishing on the back of increasing exploration activities. According to a recent business and commerce publication by TMR Research, the demand in the global pressure pumping market will expand at a notable CAGR during the forecast period of 2017 to 2025. The report, titled “Pressure Pumping Market – Global Industry Analysis, Size, Share, Trends, Analysis, Growth, and Forecast 2017 – 2025,” is a professional study compiled to provide insights into the market and to act as a decision-making tool for its audiences such as companies operating in the oil and gas industry, providers of pressure pumping materials and equipment, research organizations, and government agencies.
Some of the key factors augmenting the demand in the global pressure pumping market are: consistently increasing number of recoverable reserves, constant striving of the companies to achieve greater production efficiencies, shifting focus towards green energy, and growing demand for energy security by domestic supply. Rapid industrialization and urbanization in several emerging economies such as China and India has increased energy demands by multiple folds and hence, the need for greater focus on exploration and extraction activities has gained momentum. In addition to that, the option of stronger recovery rate of reservoirs is also expected to reflect positively on the market for pressure pumping, which on the other hand is facing hindrance from factors such as concerns regarding contamination owing to hydraulic fracturing, issues pertaining to seismic activities, and stringent government regulations in a number of countries that players of the pressure pump must comply with. That being said, the advent of waterless fracturing foams is expected to open new revenue avenues for the vendors of this market. In the report, each of these factors have been analyzed in detail and their eventual impact over the demand in the global pressure pumping market have been adjudged.
Based on service types, the pressure pumping market can be segmented into cementing, hydraulic fracturing, and other pressure pump services such as acidization and sand controlling services, whereas on the basis of the type of well, the market can be bifurcated into vertical and horizontal. Resource type classification of the market can be done into unconventional and conventional. Geographically, the report understands the value of representing lucrativeness of various regions and countries. Being a study on the global demand for pressure pumping, the report has explored every important region including North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. The analysts of the report have detected that currently, the pressure pumping market is primarily concentrated into the region of North America, gaining traction from the presence of some of the major players of this market such as Schlumberger Limited, Baker Hughes, and Halliburton Company. For each of these regions, the report has evaluated the potential of demand that can be expected from primary countries during the forecast period of 2017 to 2025. The report also throws light on what type of regulations are in place by various governments regarding the usage of pressure pumping hydraulic system.
Weatherford International, Saipem S.p.A., Superior Energy Services, and China Oilfield Services Ltd. are some of the other companies operating in the global pressure pumping market.
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