Industry Insights
Growing E&P activities for extracting hydrocarbons from unconventional reserves particularly shale basins has been major factor driving global hydraulic fracturing market growth over the last few years. Increasing demand for primary energy and fuel for transportation, household and power generation has been responsible for growth in demand for oil & gas over the last few years. Oil & gas industry participants have been witnessing declining production rates from conventional reserves. This might create an imbalance in the demand supply chain. In order to cope up with the growing demand for fossil fuels the E&P companies have shifted their focus to develop the unconventional oil & gas reserves. This shift towards development of unconventional hydrocarbon reserves is expected to boost the market growth.
Along with benefits, hydraulic fracturing has certain environmental and health risks associated with it. The market growth may be restrained by stringent environmental regulations by organizations such as REACH and EPA. Moratoriums by local organizations and bans on the use technology by regional agencies of France, U.S., Bulgaria and Romania, may have a negative impact on the market growth over the next few years. Development of shale basins in China and Russia coupled with increasing spending on R&D for developing technologies which use less water for fracking is expected to provide future opportunities for market players over the next six years.
Browse Global Hydraulic Fracturing Market Report with Full TOC at: http://www.hexaresearch.com/research-report/hydraulic-fracturing-market-analysis-segment-forecasts-2020/
Technological l Insights
Plug & Perf is the largest technology segment for hydraulic fracturing market accounting for over 85% of the total market revenues in 2013.The technology is used to extract oil & gas from cased holes. Sliding sleeve is relatively new technology in this market and is applicable for openhole wellbores as...