Global Pressure pumping Material Market to reach USD 76.2 billion by 2025 | CAGR: 4.10%
Global Pressure pumping Material Market is valued at USD 53.1 billion in 2016 is anticipated to grow USD 76.2 billion with the compounded annual growth of 4.10% over the forecast period 2017-2025.
New York 29 May 2018, As per the new research study conducted by Bizwit Research & Consulting, Global Pressure pumping Material industry is poised to raise USD 76.2 billion by 2025. Key success factors for this market are; increasing demand for- primary energy in power generation, transportation and household.
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The industry seems to be fairly competitive. Some of the leading market players include Baker Hughes Incorporated, C&J Energy Services, Inc., Calfrac Well Services Ltd., TRICAN and so on. Other market players discussed in the report include Halliburton, Schlumberger Limited, Superior Energy Services, Inc. New product launches, acquisitions, and mergers are some of the strategies adopted by the key manufacturers. Additionally, the fierce competitiveness has made these players spend in product developments to improve the customer’s requirements.
Key findings of the study:
- The Asia Pacific is projected to exhibit strong demand for pressure pumping in the near future due to rapid industrialization.
- Efforts undertaken by various governments in the region to reduce dependence on oil imports and boost indigenous oil production are anticipated to provide tremendous up thrust to the overall market.
- Rise in upstream oil and gas investments in the U.S. in 2017 is likely to be a key factor contributing to the growth of the market.
Bizwit Research & Consulting LLP has considered the following segments for the study:
- Hydraulic fracturing
By Well type:
- North America
- Asia Pacific
- Latin America
- Rest of the World