The technological advantages and long-term contract policy is the current trend of the pressure pumping market.
The leading companies of the pressure pumping market focuses on new product/technology/service launch to enhance their business reach. Thus, the new product/technology/service launch activities seemed to be a trend that was followed by major industry players as their growth strategy.
The companies that lead the pressure pumping market currently are Halliburton (U.S.), Schlumberger (U.S.), Baker Hughes (U.S.), and Superior Well Services (U.S.). However, this is a very dynamic market, where one innovation could give a company a competitive edge over the others.
Pressure pumping operations require highly skilled manpower and technologically advanced equipment. Safety is a major concern of pressure pumping services as a minor error can lead to the damage of the complete reservoir and equipment set up. Keeping this in mind, the best way for companies to increase their geographic presence and market penetration is through the launch of new and advanced products and technologies. Additionally, the well-known and established brand name of the market has an edge in the pressure pumping market.
The major service providers are based in North America and focus on other regionsí countries for their market expansion. Hence, investment in these regions through setting up new bases provides the companies a competitive edge to access the local business.
Companies such as Halliburton (U.S.), Schlumberger (U.S.), Baker Hughes (U.S.), Key Energy Services (U.S.), Trican Well Services (Canada), Weatherford (Switzerland), and Frac Tech Services (U.S.) have been the most active companies from January 2011 to July 2013. Most of these market players are present in the North American region and have been actively participating in competitive developments for the pressure pumping market.
The pressure pumping market is mainly governed by a few major players and the rest of the market share is divided between small companies. Top players in this market include Halliburton (U.S.), Schlumberger (U.S.), Baker Hughes (U.S.), and Key Energy Services (U.S.), etc.
Pressure Pumping Market by Types (Hydraulic Fracturing, Cementing, Others), North America Resource Type (Conventional, Unconventional), North America Well Type (Horizontal, Vertical) & Geography - Global Trends & Forecasts to 2018
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