According
to this report, the global hydraulic fracturing market stood at 21.34
MHHP in 2013 and is expected to reach 33.97 MHHP by 2022 at a CAGR of
5.30% from 2014 to 2022. In terms of revenue, the global hydraulic
fracturing market was valued at USD 38,320.00 Million and is
estimated to reach USD 66,059.42 Million at a CAGR of 6.12% from 2014
to 2022.
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Hydraulic Fracturing Market Report with Full TOC at
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Hydraulic
fracturing technique has emerged as one of the most preferred
techniques for the extraction of crude oil and natural gas across the
globe. With the first experiment carried out in 1940s and the first
commercial usage of hydraulic fracturing being witnessed in 1949, it
has been in use for reservoir stimulation and enhanced hydrocarbon
recovery since a long time. It has become a widespread technique due
to technological advances that allow for easier extraction of crude
oil and natural gas from unconventional reserves (shale formations,
coal bed methane, and tight sand). The hydraulic fracturing technique
uses fracturing fluid to fracture the reservoir rocks. A hydraulic
fracture is formed by injecting the fracturing fluid inside the
wellbore at high pressure and high temperature sufficient enough to
fracture the rock.
Fracturing
fluid is an important component of hydraulic fracturing, not only due
to the technical considerations, but also due to its environmental
impact as well. Some of the major environmental concerns are linked
with shale gas fracturing due to the high usage of water. Large
quantity of water is used and is lost underground at the time of
hydraulic fracturing. Fracturing fluid is made up of base fluid,
additives and proppants.
The
majorly used hydraulic fracturing techniques are plug and perf and
sliding sleeves. The plug and perf technique is most common and is
widely used for the extraction of crude oil and natural gas across
the globe. It is mainly used in cased hole wells and is very flexible
in nature. Each stage can be easily perforated ‘n’ number of
times through the application of plug and perf technique. Information
obtained from previous stages can be easily utilized in the current
stage to optimize the process, thereby resulting in high production
rate. The plug and perf technique is primarily used for shale oil and
shale gas completions. One of the major advantages of the plug and
perf technique is the fact that it can be easily reworked in case of
any problem or when production process comes to a halt. Sliding
sleeves is a newer technique for carrying out hydraulic fracturing.
It is basically used to speed up the process. It is an open hole
technique through which multiple stages can be easily fractured in a
single pumping session. Continuous downhole pressure is then utilized
to decrease the completion time by cutting off the repeat process.
High efficiency is achieved by performing multiple fractures in a
single pumping session, thereby ensuring time and cost savings.
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The
hydraulic fracturing technique is carried out on conventional and
unconventional reserves. The presence of vast unconventional
reserves, which include shale gas, shale oil, tight gas, tight oil,
and coal bed methane boost the demand for hydraulic fracturing
technique across the globe. Shale gas remains most dominant in the
implementation of hydraulic fracturing technique owing to its vast
reserves, especially in North America. The hydraulic fracturing
technique also finds application in conventional reserves as large
number of oilfields are depleting currently. In the present scenario,
matured fields account for over 70% of the overall hydrocarbons
production.
The
global hydraulic fracturing market has been segmented as follows:
Hydraulic
Fracturing Market: Technology Analysis
- Plug and Perf
- Sliding Sleeves
Hydraulic
Fracturing Market: Application Analysis
- Conventional
- Shale gas
- Others
Hydraulic
Fracturing Market: Regional Analysis
North
America
- U.S.
- Canada
- Mexico
Europe
- Germany
- Spain
- Italy
- France
- U.K.
- Rest of Europe
Asia
Pacific
- China
- Japan
- India
- Rest of Asia Pacific
Rest
of the World (RoW)
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Press Release Of Hydraulic Fracturing Market
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