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Hydraulic Fracturing Market by Resource & Well Type – Global Trends & Forecasts up till 2017

By: marketsandmarkets.com
Publishing Date: August 2012
Report Code: EP 1207

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Hydraulic fracturing is the propagation of fractures through layers of rock using pressurized fracturing fluid. This technique is primarily used in the extraction of resources from low permeability reservoirs – such as shale gas, tight gas, CBM, and unconventional liquids – which are difficult to recover through regular drilling procedures. Hydraulic fracturing services are provided by oilfield service companies (such as Halliburton) to oil and gas companies (such as Shell). It was first used in 1947, since then scores of wells have been fractured.

This report estimates the hydraulic fracturing market in terms of volume and value. The volume of this market is estimated in terms of million hydraulic horse power (million hhp) and value in terms of $million. This has been broken down into component regions and further split into countries.

This market is mainly concentrated in North America, where many leading oil field service companies – Schlumberger (U.S.), Halliburton (U.S.), Baker Hughes (U.S.), and other medium and small players – operate. While the North American market is reaching maturity, the Rest of the World’s (ROW) market is still in its infancy.

Australia, China, and Poland are expected to lead the ROW hydraulic fracturing market. Apart from the regions mentioned above, other areas are not expected to show a very significant moment in the forecast period of the report i.e. 2012 to 2017. This will prove beneficial for the developing countries such as India, China, and Brazil. As the energy demand in these countries is increasing, fulfilling this demand domestically will enhance their economic growth.

Hydraulic Fracturing is facing a lot of public opposition due to potential environmental hazards caused by fracturing. Water usage, water contamination, and seismic activity are the most important concerns related to hydraulic fracturing. Because of these environmental concerns, the growth of the market in the Rest of the World market is somewhat lessened. In fact, some companies have even banned the use of hydraulic fracturing. This presents an opportunity to oilfield service companies to use ‘waterless’ hydraulic fracturing or foam fracturing.

Foam fracturing has advantageous properties such as high viscosity and low liquid content; foams find application in many petroleum industry processes. This alternative utilizes less water than traditional fracturing and could help companies in addressing public concern over the environmental effects of fracturing. As a process, fracturing takes up a large percentage of the total water required in well drilling, at roughly 89%. This presents a good opportunity for players to capitalize on.

We have used various secondary sources such as encyclopedia, directories, and databases to identify and collect information useful for this extensive commercial study of global market. The primary sources – experts from industry and suppliers have been interviewed to obtain and verify critical information as well as to assess the future prospects of the market.

We have also profiled leading players of this industry with their recent developments and other strategic industry activities. These include: Baker Hughes (U.S.), Calfrac Well Services (U.S.), Cudd Energy services (U.S.), FTS International (U.S.), Superior Well Services (U.S.), Halliburton (U.S.), Schlumberger (U.S.), Tacrom Services SRL (Romania), Trican Well Services Limited (U.S), United Oilfield Services (U.S.), and Weatherford International Inc. (U.S.).

Scope of the report:
The report breaks the Global Market into the following three segments:

On the basis of Geography: The report is divided into 6 main geographies: North America (U.S. and Canada), South America (Argentina and Brazil), Europe (Poland, U.K., and Russia), Africa (Libya), Asia (China and Middle East), and Australia.

On the basis of Resource type: The North American hydraulic fracturing market is further segmented into conventional and unconventional.

On the basis of Well type: The North American hydraulic fracturing market has also been segmented into horizontal and vertical wells.

TABLE OF CONTENTS 
 
1 INTRODUCTION 

  1.1 KEY TAKE-AWAYS 
  1.2 REPORT DESCRIPTION 
  1.3 MARKETS COVERED 
  1.4 STAKEHOLDERS 
  1.5 RESEARCH METHODOLOGY 
      1.5.1 MARKET SIZE 
      1.5.2 KEY DATA POINTS FROM SECONDARY SOURCES 
      1.5.3 KEY DATA POINTS TAKEN FROM PRIMARY 
      1.5.4 KEY ASSUMPTIONS 
 
2 EXECUTIVE SUMMARY 
 
3 MARKET OVERVIEW 
  3.1 INTRODUCTION TO WELL STIMULATION 
  3.2 TECHNOLOGY OVERVIEW 
      3.2.1 TYPES OF HYDRAULIC FRACTURING 
            3.2.1.1 Perf-and-plug 
            3.2.1.2 Sliding sleeve 
            3.2.1.3 Comparison of Perf-and-Plug and Sliding Sleeve Systems 
  3.3 BURNING ISSUES 
      3.3.1 NORTH AMERICAN NATURAL GAS SUPPLY GLUT AND DEPRESSED PRICES 
      3.3.2 FLUCTUATING PRICES AND VARIABLE SUPPLY OF GUAR GUM 
  3.4 WINNING IMPERATIVES 
  3.5 GLOBAL HYDRAULIC FRACTURING MARKET 
  3.6 MARKET DYNAMICS 
      3.6.1 DRIVERS 
            3.6.1.1 Increases production rate and adds to recoverable reserves 
            3.6.1.2 Energy strategy shift through gas, a ‘transitional fuel’ 
            3.6.1.3 Energy security offered by domestic supply of natural gas 
      3.6.2 RESTRAINTS 
            3.6.2.1 Water availability and contamination concerns 
            3.6.2.2 Public opposition to hydraulic fracturing 
                    3.6.2.2.1 Concerns about seismic activity 
      3.6.3 OPPORTUNITIES 
            3.6.3.1 ‘Waterless’ fracturing – foams 
  3.7 IMPACT OF MARKET DYNAMICS 
  3.8 COST ANALYSIS 
  3.9 VALUE CHAIN ANALYSIS 
      3.9.1 SUPPLIERS 
      3.9.2 UPSTREAM – OILFIELD SERVICE COMPANIES 
      3.9.3 MIDSTREAM 
      3.9.4 DOWNSTREAM 
  3.10 PORTER’S FIVE FORCES ANALYSIS 
      3.10.1 THREAT OF NEW ENTRANTS 
      3.10.2 THREAT OF SUBSTITUTES 
      3.10.3 BARGAINING POWER OF BUYERS 
      3.10.4 BARGAINING POWER OF SUPPLIERS 
      3.10.5 COMPETITIVE RIVALRY WITHIN AN INDUSTRY 
  3.11 MARKET SHARE ANALYSIS 
  3.12 PATENT ANALYSIS 
 
4 GLOBAL OIL & GAS RESERVES & PRODUCTION 
  4.1 INTRODUCTION 
  4.2 GLOBAL OIL & GAS RESERVES 
      4.2.1 GLOBAL OIL RESERVES 
            4.2.1.1 North America 
            4.2.1.2 South America 
            4.2.1.3 Europe 
            4.2.1.4 Middle East 
            4.2.1.5 Africa 
            4.2.1.6 APAC 
      4.2.2 GLOBAL GAS RESERVES 
            4.2.2.1 North America 
            4.2.2.2 South America 
            4.2.2.3 Europe 
            4.2.2.4 Middle East 
            4.2.2.5 Africa 
            4.2.2.6 APAC 
  4.3 GLOBAL OIL & GAS PRODUCTION 
      4.3.1 GLOBAL OIL PRODUCTION 
            4.3.1.1 North America 
            4.3.1.2 South America 
            4.3.1.3 Europe 
            4.3.1.4 Middle East 
            4.3.1.5 Africa 
            4.3.1.6 APAC 
      4.3.2 GLOBAL GAS PRODUCTION 
            4.3.2.1 North America 
            4.3.2.2 South America 
            4.3.2.3 Europe 
            4.3.2.4 Middle East 
            4.3.2.5 Africa 
            4.3.2.6 APAC 
 
5 NORTH AMERICA  
  5.1 INTRODUCTION 
  5.2 REGULATIONS 
      5.2.1 FEDERAL 
      5.2.2 CONGRESS 
      5.2.3 DEPARTMENT OF ENERGY 
      5.2.4 BUREAU OF LAND MANAGEMENT 
      5.2.5 STATE RULES 
  5.3 NATURAL GAS PRODUCTION 
  5.4 HYDRAULIC FRACTURING BY COUNTRY 
  5.5 BY RESOURCE TYPE 
  5.6 BY WELL TYPE 
  5.7 REVENUE TREND 
 
6 REST OF THE WORLD  
  6.1 INTRODUCTION 
  6.2 EUROPE 
  6.3 AUSTRALIA 
  6.4 ASIA 
  6.5 SOUTH AMERICA 
  6.6 AFRICA 
  6.7 REVENUE TREND 
 
7 COMPETITIVE LANDSCAPE 
  7.1 INTRODUCTION 
  7.2 NEW PRODUCTS LAUNCH LEADS THE WAY 
  7.3 MERGERS & ACQUISITIONS 
  7.4 NEW PRODUCTS LAUNCH AND R&D 
  7.5 AGREEMENTS & CONTRACTS 
  7.6 GEOGRAPHIC EXPANSIONS 
 
8 COMPANY PROFILES 
  8.1 BAKER HUGHES INCORPORATED 
      8.1.1 OVERVIEW 
      8.1.2 FINANCIALS 
      8.1.3 PRODUCTS & SERVICES 
      8.1.4 STRATEGY 
      8.1.5 DEVELOPMENTS 
  8.2 CALFRAC WELL SERVICES LIMITED 
      8.2.1 OVERVIEW 
      8.2.2 FINANCIALS 
      8.2.3 PRODUCTS & SERVICES 
      8.2.4 STRATEGY 
      8.2.5 DEVELOPMENTS 
  8.3 CUDD ENERGY SERVICES 
      8.3.1 OVERVIEW 
      8.3.2 FINANCIALS 
      8.3.3 PRODUCTS & SERVICES 
      8.3.4 STRATEGY 
  8.4 FTS INTERNATIONAL 
      8.4.1 OVERVIEW 
      8.4.2 FINANCIALS 
      8.4.3 PRODUCTS & SERVICES 
      8.4.4 STRATEGY 
      8.4.5 DEVELOPMENTS 
  8.5 HALLIBURTON 
      8.5.1 OVERVIEW 
      8.5.2 FINANCIALS 
      8.5.3 PRODUCTS & SERVICES 
      8.5.4 STRATEGY 
      8.5.5 DEVELOPMENTS 
  8.6 SCHLUMBERGER LIMITED 
      8.6.1 OVERVIEW 
      8.6.2 FINANCIALS 
      8.6.3 PRODUCTS & SERVICES 
      8.6.4 STRATEGY 
      8.6.5 DEVELOPMENTS 
  8.7 SUPERIOR WELL SERVICES INC 
      8.7.1 OVERVIEW 
      8.7.2 FINANCIALS 
      8.7.3 PRODUCTS & SERVICES 
      8.7.4 STRATEGY 
      8.7.5 DEVELOPMENTS 
  8.8 TACROM SERVICES SRL 
      8.8.1 OVERVIEW 
      8.8.2 FINANCIALS 
      8.8.3 PRODUCTS & SERVICES 
      8.8.4 STRATEGY 
      8.8.5 DEVELOPMENTS 
  8.9 TRICAN WELL SERVICE LIMITED 
      8.9.1 OVERVIEW 
      8.9.2 FINANCIALS 
      8.9.3 PRODUCTS & SERVICES 
      8.9.4 STRATEGY 
      8.9.5 DEVELOPMENTS 
  8.10 UNITED OILFIELD SERVICES 
      8.10.1 OVERVIEW 
      8.10.2 FINANCIALS 
      8.10.3 PRODUCTS & SERVICES 
      8.10.4 STRATEGY 
      8.10.5 DEVELOPMENTS 
  8.11 WEATHERFORD INTERNATIONAL INC. 
      8.11.1 OVERVIEW 
      8.11.2 FINANCIALS 
      8.11.3 PRODUCTS & SERVICES 
      8.11.4 STRATEGY 
      8.11.5 DEVELOPMENTS 
 
APPENDIX 
  NORTH AMERICA PATENTS 
  EUROPE PATENTS 
 
  
LIST OF TABLES 
 
TABLE 1 HYDRAULIC FRACTURING MARKET, BY GEOGRAPHY, 2010 – 2017 (MILLION HHP) 
TABLE 2 COMPARISON: PERF & PLUG VS. SLIDING SLEEVE 
TABLE 3 GLOBAL HYDRAULIC FRACTURING MARKET, BY REGION, 2010 – 2017 (MILLION HHP) 
TABLE 4 GLOBAL HYDRAULIC FRACTURING MARKET, BY REGION, 2010 – 2017 ($MILLION) 
TABLE 5 GLOBAL HYDRAULIC FRACTURING MARKET, BY COUNTRY, 2010 – 2017 (MILLION HHP) 
TABLE 6 GLOBAL HYDRAULIC FRACTURING MARKET, BY COUNTRY, 2010 – 2017 ($MILLION) 
TABLE 7 2020 EMISSION REDUCTION TARGETS OF SELECTED REGIONS 
TABLE 8 FOSSIL FUEL EMISSION LEVELS - POUNDS PER BILLION BTU OF ENERGY INPUT 
TABLE 9 WATER USE IN U.S. SHALE PLAYS, BY COMPANY, 2009 
TABLE 10 WELL WATER USE BY ACTIVITY, 2011 
TABLE 11 COMPARISON: FRACTURING FLUIDS 
TABLE 12 IMPACT OF MARKET DYNAMICS, 2012 – 2017 
TABLE 13 NORTH AMERICA: CAPACITY, BY COMPANY, 2011 (MILLION HHP) 
TABLE 14 OIL RESERVES, BY GEOGRAPHY, 2010 – 2011 (BILLION BARRELS) 
TABLE 15 NORTH AMERICA: OIL RESERVES, BY COUNTRY, 2010 – 2011 (BILLION BARRELS) 
TABLE 16 SOUTH AMERICA: OIL RESERVES, BY COUNTRY, 2010 – 2011 (BILLION BARRELS) 
TABLE 17 EUROPE: OIL RESERVES MARKET, BY COUNTRY, 2010 – 2011 (BILLION BARRELS) 
TABLE 18 MIDDLE EAST: OIL RESERVES, BY COUNTRY, 2010 – 2011 (BILLION BARRELS) 
TABLE 19 AFRICA: OIL RESERVES, BY COUNTRY, 2010 – 2011 (BILLION BARRELS) 
TABLE 20 APAC: OIL RESERVES, BY COUNTRY, 2010 – 2011 (BILLION BARRELS) 
TABLE 21 GAS RESERVES, BY GEOGRAPHY, 2010 – 2011 (TRILLION CUBIC FEET) 
TABLE 22 NORTH AMERICA: GAS RESERVES, BY COUNTRY, 2010 – 2011 (TRILLION CUBIC FEET) 
TABLE 23 SOUTH AMERICA: GAS RESERVES, BY COUNTRY, 2010 – 2011 (TRILLION CUBIC FEET) 
TABLE 24 EUROPE: GAS RESERVES, BY COUNTRY, 2010 – 2011 (TRILLION CUBIC FEET) 
TABLE 25 MIDDLE EAST: GAS RESERVES, BY COUNTRY, 2010 – 2011 (TRILLION CUBIC FEET) 
TABLE 26 AFRICA GAS RESERVES, BY COUNTRY, 2010 – 2011 (TRILLION CUBIC FEET) 
TABLE 27 APAC: GAS RESERVES, BY COUNTRY, 2010 – 2011 (TRILLION CUBIC FEET) 
TABLE 28 OIL PRODUCTION, BY GEOGRAPHY, 2009 – 2011 (MILLION BARRELS PER DAY) 
TABLE 29 NORTH AMERICA: OIL PRODUCTION, BY COUNTRY, 2009 – 2011 (MILLION BARRELS PER DAY) 
TABLE 30 SOUTH AMERICA: OIL PRODUCTION, BY COUNTRY, 2009 – 2011 (MILLION BARRELS PER DAY) 
TABLE 31 EUROPE: OIL PRODUCTION, BY COUNTRY, 2009 – 2011 (MILLION BARRELS PER DAY) 
TABLE 32 MIDDLE EAST: OIL PRODUCTION, BY COUNTRY, 2009 – 2011 (MILLION BARRELS PER DAY) 
TABLE 33 AFRICA: OIL PRODUCTION, BY COUNTRY, 2009 – 2011 (MILLION BARRELS PER DAY) 
TABLE 34 APAC: OIL PRODUCTION, BY COUNTRY, 2009 – 2011 (MILLION BARRELS PER DAY) 
TABLE 35 GAS PRODUCTION, BY GEOGRAPHY, 2009 – 2011 (TRILLION CUBIC FEET) 
TABLE 36 GLOBAL: NATURAL GAS PRODUCTION, 2009 – 2011, (TCF) 
TABLE 37 NORTH AMERICA: GAS PRODUCTION, BY COUNTRY, 2009 – 2011 (TRILLION CUBIC FEET) 
TABLE 38 NORTH AMERICA: NATURAL GAS PRODUCTION, 2009 – 2011 (TCF) 
TABLE 39 SOUTH AMERICA: GAS PRODUCTION, BY COUNTRY, 2009 – 2011 (TRILLION CUBIC FEET) 
TABLE 40 SOUTH AMERICA: NATURAL GAS PRODUCTION, 2009 – 2011 (TCF) 
TABLE 41 EUROPE: GAS PRODUCTION, BY COUNTRY, 2009 – 2011 (TRILLION CUBIC FEET) 
TABLE 42 EUROPE: NATURAL GAS PRODUCTION, 2009 – 2011 (TCF) 
TABLE 43 MIDDLE EAST: GAS PRODUCTION, BY COUNTRY, 2009 – 2011 (TRILLION CUBIC FEET) 
TABLE 44 MIDDLE EAST: NATURAL GAS PRODUCTION, 2009 – 2011 (TCF) 
TABLE 45 AFRICA: GAS PRODUCTION, BY COUNTRY, 2009 – 2011 (TRILLION CUBIC FEET) 
TABLE 46 AFRICA: NATURAL GAS PRODUCTION, 2009 – 2011 (TCF) 
TABLE 47 APAC: GAS PRODUCTION, BY COUNTRY, 2009 – 2011 (TRILLION CUBIC FEET) 
TABLE 48 APAC: NATURAL GAS PRODUCTION, 2009 – 2011 (TCF) 
TABLE 49 U.S: TECHNICALLY RECOVERABLE SHALE RESERVES, 2009 (TCF) 
TABLE 50 NORTH AMERICA: HYDRAULIC FRACTURING MARKET, BY COUNTRY, 2010 – 2017 (MILLION HHP) 
TABLE 51 NORTH AMERICA: HYDRAULIC FRACTURING MARKET REVENUE, BY COUNTRY, 2010 – 2017 ($MILLION) 
TABLE 52 NORTH AMERICA: HYDRAULIC HORSE POWER MARKET, BY RESOURCE TYPE, 2010 – 2017 (MILLION HHP) 
TABLE 53 NORTH AMERICA: HYDRAULIC FRACTURING MARKET REVENUE, BY RESOURCE TYPE, 2010 – 2017 ($MILLION) 
TABLE 54 COMPARISON: HORIZONTAL VS VERTICAL DRILLING 
TABLE 55 NORTH AMERICA: HYDRAULIC FRACTURING MARKET, BY RESOURCE TYPE, 2010 – 2017 (MILLION HHP) 
TABLE 56 NORTH AMERICA: HYDRAULIC FRACTURING MARKET REVENUE, BY RESOURCE TYPE, 2010 – 2017 ($MILLION) 
TABLE 57 ROW: HYDRAULIC FRACTURING MARKET, BY REGION, 2012 – 2017 (MILLION HHP) 
TABLE 58 ROW: HYDRAULIC FRACTURING MARKET REVENUE, BY COUNTRY, 2012 – 2017 ($MILLION) 
TABLE 59 EUROPE: HYDRAULIC FRACTURING MARKET, BY COUNTRY, 2012 – 2017 (MILLION HHP) 
TABLE 60 EUROPE: HYDRAULIC FRACTURING MARKET REVENUE, BY COUNTRY, 2012 – 2017 ($MILLION) 
TABLE 61 AUSTRALIA: HYDRAULIC FRACTURING MARKET, BY COUNTRY, 2012 – 2017 (MILLION HHP) 
TABLE 62 AUSTRALIA: MARKET REVENUE, BY COUNTRY, 2012 – 2017 ($MILLION) 
TABLE 63 ASIA: HYDRAULIC FRACTURING MARKET, BY COUNTRY, 2012 – 2017 (MILLION HHP) 
TABLE 64 ASIA: HYDRAULIC FRACTURING MARKET REVENUE, BY COUNTRY, 2012 – 2017 ($MILLION) 
TABLE 65 SOUTH AMERICA: HYDRAULIC FRACTURING MARKET, 2012 – 2017 (MILLION HHP) 
TABLE 66 SOUTH AMERICA: MARKET REVENUE, BY COUNTRY, 2012 – 2017 ($MILLION) 
TABLE 67 AFRICA: HYDRAULIC FRACTURING MARKET, BY COUNTRY, 2012 – 2017 (MILLION HHP) 
TABLE 68 AFRICA: HYDRAULIC FRACTURING MARKET REVENUE, BY COUNTRY, 2012 – 2017 ($MILLION) 
TABLE 69 MERGERS & ACQUISITIONS, 2010 – 2012 
TABLE 70 NEW PRODUCTS LAUNCHES AND R&D, 2010 – 2012 
TABLE 71 AGREEMENTS & CONTRACTS, 2010 – 2012 
TABLE 72 GEOGRAPHIC EXPANSIONS, 2010 – 2012 
TABLE 73 BAKER HUGHES: TOTAL REVENUE, BY GEOGRAPHY, 2010 – 2011 ($MILLION) 
TABLE 74 CALFRAC WELL SERVICES: TOTAL REVENUE, BY COUNTRY, 2010 – 2011 ($MILLION) 
TABLE 75 HALLIBURTON: ANNUAL REVENUE, 2010 – 2011 ($MILLION) 
TABLE 76 SCHLUMBERGER: ANNUAL REVENUE, BY GEOGRAPHY, 2010 – 2011 ($MILLION) 
TABLE 77 SCHLUMBERGER: ANNUAL REVENUE, BY BUSINESS SEGMENT, 2010 – 2011 ($MILLION) 
TABLE 78 WEATHERFORD: ANNUAL REVENUE, BY REGION, 2010 – 2011 ($MILLION) 
 
  
LIST OF FIGURES  
 
FIGURE 1 FACTORS DETERMINING SUCCESSFUL UNCONVENTIONAL EXPLORATION 
FIGURE 2 NATURAL GAS PRICES, 2008 – 2012 ($/MMBTU) 
FIGURE 3 GUAR GUM PRICE TRENDS ($/POUND) 
FIGURE 4 HYDRAULIC FRACTURING WATER CYCLE & CORRESPONDING IMPACT ON POTABLE WATER SUPPLIES 
FIGURE 5 FRACTURING FLUID COMPOSITION 
FIGURE 6 FOAM APPLICATIONS IN OIL & GAS – 1950 TILL DATE 
FIGURE 7 WELL DRILLING COST ANALYSIS, 2011 
FIGURE 8 VALUE CHAIN ANALYSIS 
FIGURE 9 PORTER’S FIVE FORCES ANALYSIS 
FIGURE 10 NORTH AMERICA: MARKET SHARE ANALYSIS, 2011 
FIGURE 11 PATENT ANALYSIS, BY COMPANY, 2009 – 2012 
FIGURE 12 PATENT ANALYSIS, BY GEOGRAPHY, 2009 – 2012 
FIGURE 13 PATENT ANALYSIS, BY TYPE, 2009 – 2012 
FIGURE 14 EUROPE: PRIMARY ENERGY CONSUMPTION, 2011 
FIGURE 15 WORLD PRIMARY ENERGY MIX, 2011 
FIGURE 16 NORTH AMERICA: NATURAL GAS PRODUCTION, 2009 – 2011 (TCF) 
FIGURE 17 NORTH AMERICA: UNCONVENTIONAL GAS PRODUCTION, 2009 – 2011 (TCF) 
FIGURE 18 NORTH AMERICA: HYDRAULIC HORSE POWER DISTRIBUTION, BY RESOURCE TYPE, 2012 (MILLION HHP) 
FIGURE 19 NORTH AMERICA: REVENUE TREND, 2010 – 2017 ($/HP) 
FIGURE 20 ROW: REVENUE TREND, 2010 – 2017 ($/HP) 
FIGURE 21 GLOBAL HYDRAULIC FRACTURING MARKET SHARE, BY GROWTH STRATEGIES, 2010 – 2012

Global Hydraulic Fracturing Market value is expected to increase from $40 billion in 2012 to $64 billion by 2017, with 10% CAGR during the same period. Hydraulic fracturing is a technique to generate oil and gas from wells with low permeability. This is a service provided by oilfield service companies to the oil and natural gas companies. In this report the market is analyzed on the basis of hydraulic horse power supplied by oilfield service companies to the market. The future of this market lies in the activity in Rest of the World market. The ROW market is still in state of infancy and hence there are growth prospects for the hydraulic fracturing market. While the North American market is near its maturity and the movement in the market will be subjected to competition mainly.

Potential increase in the recoverable resources and production is the most important driver for the market. This technique is used in recovery of both oil and natural gas but is predominantly used in recovery of unconventional gas. Now-a-days natural gas is called as transitional fuel for being the chain between conventional resources and renewable energy. This proves an advantage to the international natural gas market and hence to the hydraulic fracturing market.

If countries across the world permit the use of this technique then the recovery of resources is expected to increase. Hence hydraulic fracturing will prove beneficial for the developing countries such as India, China, and Brazil. As the energy demand in these countries is increasing, fulfilling this demand will enhance their growth prospects. This is the driver for this market.

Though experts believe that the ROW market presents a substantial growth opportunity; environmental objections and subsequent ban on fracturing in few countries is an important hurdle for this market. Research and development in the field of water usage, water treatment, and seismic disturbances is expected to accelerate the growth of this market in ROW region.

Estimates and forecasts of the global market are given in the chart below:

Hydraulic fracturing market share, by geography, 2010 - 2017

Hydraulic Fracturing Market
Source: Secondary Research, Expert Interview, MarketsandMarkets Analysis

Unconventional gas recovery and its growth are important reasons for the growth of the hydraulic fracturing market. The regulatory structure, geology, and availability of skilled labor drive the North American unconventional gas market. The companies leading this market currently are Halliburton (U.S.), Schlumberger (U.S.), Baker Hughes (U.S.), and Superior Well Services (U.S.).

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