North America Pressure Pumping Market is Expected to Boom Worldwide by 2021

The North America pressure pumping market was estimated to be USD 26.29 Billion in 2016, and is expected to grow at a CAGR of 2.6% from 2016 to 2021. Increasing shale explorations in the U.S. and Canada and auction of shale gas fields in Mexico in 2017, are the factors driving the market.

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Objectives of the Study

·         To define, describe, and forecast the North American pressure pumping market by resource type, well type, service type, and country

·         To provide detailed information regarding major factors influencing the growth of the pressure pumping market (drivers, restraints, opportunities, and industry-specific challenges)

·         To strategically analyze the pressure pumping market with respect to individual growth trends, future prospects, and contribution of each segment to the market

·         To strategically profile key players and comprehensively analyze their market shares and core competencies

·         To track and analyze competitive developments such as contracts & agreements and partnerships & collaborations in the North American pressure pumping market

The report segments the North American pressure pumping market on the basis of service type into hydraulic fracturing, well cementing, and other services. The widely used service in the North American pressure pumping market. Production from hydraulically fractured wells, now makes up about two-thirds of the total U.S. marketed gas production. This share of production is even greater than the share of crude oil produced using that method, where hydraulic fracturing accounts for about half of the current U.S. crude oil production.

The North American pressure pumping market is segmented based on well type into horizontal and vertical wells. The horizontal wells segment accounted for the largest market share in 2015 and is expected to grow at the highest CAGR during the forecast period. Increasing hydraulic fracturing activity in the U.S. is expected to propel the demand for pressure pumping in horizontal wells in North America during the forecast period.

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The report segments the North American pressure pumping market based on resource type into conventional and unconventional wells. Unconventional wells accounted for the largest market share in 2015, due to abundance of unconventional wells in North America.  About 52% of the total U.S. crude oil production in 2015 was from unconventional wells mainly from shale. The unconventional wells segment is also expected to grow at the fastest rate during the forecast period, owing to increasing demand for hydraulic fracturing in the U.S. This segment is expected to create new revenue pockets for the North American pressure pumping market during the forecast period.

In this report, the North American pressure pumping market has been analyzed with respect to three countries, namely, the U.S., Canada, and Mexico. The U.S. is expected to dominate the North American pressure pumping market during the forecast period, owing to increasing hydraulic fracturing in the country. The Mexican pressure pumping market is projected to grow at the highest CAGR from 2016 to 2021, due to the presence of large untapped reserves in the country that are expected to be auctioned in the year 2017.

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