The global hydraulic fracturing market size was exhibited at USD 54.72 billion in 2023 and is projected to hit around USD 124.87 billion by 2033, growing at a CAGR of 8.6% during the forecast period of 2024 to 2033.
Key Takeaways:
Hydraulic Fracturing Market by Overview
In the realm of energy extraction, hydraulic fracturing, also known as fracking, has emerged as a transformative technology, revolutionizing the oil and gas industry. This comprehensive overview delves into the intricacies of the hydraulic fracturing market, examining key trends, drivers, challenges, and opportunities shaping its trajectory.
Hydraulic Fracturing Market Growth
Hydraulic fracturing is known as a technology in which the fluids are drove into the well at a high level of injection in order to breakdown the reservoirs of oil. This fluid comprise of chemicals, water, and sand. In addition, in the production of oil and gas, it is in general used to increase the production of oil & gas reservoirs in order to keep the well sticky in nature and also fracturing fluids are utilized in this technique for creating a fracture of better width. This technique of hydraulic fracturing is father known as fracking and it is utilized to generate gas and oil from the well. Also, this technique of fracking is provided by variouscompanies of oils & natural gas, and it is also utilized in various applications such as tight oil, crude oil, shale oil and many others.
A significant increase in the offshore and onshore oil and gas explorationactivities is one of the major factors driving the market growth. Hydraulic fracturing is extensively used for the redevelopment of well base expansion, oil fields, and exploring new offshore projects for the extraction of crude oil and natural gas. In addition, the growing demand for energy across both emerging and developed nations is providing a growth impetus to the market. Hydraulic fracturing is widely used for the exploration of optimization of oil production and highly impermeable shale reservoirs. In line with this, the increasing adoption of prefundplug technology for horizontal and vertical wells is also contributing to the market growth. In addition, the growth of waterless and foam-based technologies of fracking is working as another growth factor. In addition, foam provides low liquid and high viscosity content that helps in decreasing water reducing and utilizing the impact on the environment. Furthermore, other key factors, comprise of the growth of lucrative fine sand of mesh frac, also with the application of sustainable development favorable policies, are anticipated to drive the market toward growth.
The outbreak of the COVID-19 epidemic in 2020 forced the government to shut down the market in an attempt to restrict the spread of the covid19 virus. Likewise, the lockdown rules and travelling restrictions were assessed across the globe. The propagation of the COVID-19 worldwide has braked down the growth of multitudinous diligence. Furthermore, epidemic has resulted in a substantial decline in affiliated conditioning and transportation, which has further impacted the customer demand for oil and gas. According to the report of International Energy Agency (IEA), the events of geopolitical has increased the low-priced oil supply to the global market of hydraulic fracturing, and during the same time, the demand also declined owing to the outburst of the epidemic, leading to a collapse in oil prices in March 2020. Moreover, these events altogether negatively impacted the global demand regardingoil and natural gas, along with the demand for hydraulic fracturing products & servicesand have integrated significant oil prices volatility.
Hydraulic Fracturing Market Report Scope
| Report Coverage | Details |
| Market Size in 2024 | USD 54.72 Billion |
| Market Size by 2033 | USD 124.87 Billion |
| Growth Rate From 2024 to 2033 | CAGR of 8.6% |
| Base Year | 2023 |
| Forecast Period | 2024-2033 |
| Segments Covered | Well Type, Application, and Regions |
| Market Analysis (Terms Used) | Value (US$ Million/Billion) or (Volume/Units) |
| Regional Scope | North America; Europe; Asia Pacific; Central and South America; the Middle East and Africa |
| Key Companies Profiled | Kitchen United, Rebel Foods, DoorDash Kitchen, Zuul Kitchen, Keatz, Kitopi, Ghost Kitchen Orlando, Dahmakan, Starbucks (Star Kitchen), Cloud Kitchen. |
Segments Insights:
Hydraulic Fracturing Market Dynamics:
Driver:
Technological advancements
Technological advancements have played a crucial role in driving the Hydraulic Fracturing (fracking) market. Advancement in horizontal drilling techniques allows for greater access to hydrocarbon reservoirs. Technological innovations enable real-time monitoring of well performance and reservoir conditions. Data analytics help operators make informed decisions, optimize production, and troubleshoot issues promptly, improving overall efficiency and reducing downtime. Technologies like Enhanced Oil Recovery (EOR) methods, such as CO2 injection and chemical flooding, can be integrated with hydraulic fracturing to maximize hydrocarbon recovery.
Restraint
Environmental concerns
Governments and regulatory bodies are increasingly scrutinizing the environmental impact of hydraulic fracturing. Stricter regulations, permit requirements, and environmental assessments can increase the operational costs and timelines for fracking projects. Fracking generates a significant amount of wastewater, often containing hazardous substances and heavy metals. Proper disposal and treatment of this wastewater pose challenges, and improper handling can lead to soil and water pollution.
Opportunity
emergence of water management solutions
Increasing environmental regulations and public concern about water usage and contamination have put pressure on the hydraulic fracturing industry to adopt more sustainable and responsible practices. Water management solutions can help companies comply with regulations and demonstrate their commitment to environmental stewardship. Effective water management solutions can lead to cost reductions by optimizing water usage, recycling wastewater, and minimizing the need for freshwater inputs. Concerns about water scarcity and pollution have led to increased scrutiny of fracking operations by communities and stakeholders.
Well Type Insights
The horizontal well segment held the dominating share of the hydraulic fracturing market in 2023. Horizontal wells allow for a greater contact area with the reservoir rock compared to vertical wells. This extended contact enhances the recovery of hydrocarbons, especially in unconventional resources such as shale formations.
The horizontal well segments enable better access to the natural fractures within the reservoir, leading to increased production rates. By drilling horizontally through the productive zone, operators can tap into more natural fractures and maximize the flow of hydrocarbons.
Application Insights
Based on the application, the shale gas segment is expected to grow at the fastest rate during the forecast period. In addition, there are a myriad number of shale reserves around the world. Also, according to the EIA study, there exist 48 shale gas basins in 32 countries, which comprise of almost 70 shale gas foundations in total. Consequently, China has shale gas reserve which is technically recoverable of about 21.8 tcmand has proved shale gas reserve of 764.3 bcm, Sichuan basin based marine facies. Furthermore, the technically recoverable shale gas reserves of Argentinawhich is around 802 billion cubic feet, however Algeria comprise of the world’s third largest intact resources of shale gas with 20 tcm shale gas which is technically recoverable. Therefore, such myriad reserves are boosting the market growth of hydraulic fracturing.
Regions Insights
Asia Pacific was the leading hydraulic fracturing market that garnered a market share of more than 61% in 2023. Asia Pacific is the home to more than half of the global population which provides a huge consumer base. The rapid urbanization, rising disposable income, busy and hectic lifestyle, rising penetration of the internet, and the increasing adoption of the smartphones are some of the significant macroeconomic factors that drives the growth of the hydraulic fracturing market in Asia Pacific. Moreover, the presence of huge youth population and the rising demand for food along with the rising population is supplementing the market growth. The countries like China and India are showing promising growth opportunities for the market players owing to the strong economic growth in the region. The rising demand for the international cuisines and rising preferences for the food delivery over dine-in is supplementing the growth of the Asia Pacific hydraulic fracturing market. For this, the Asia Pacific is also estimated to be the fastest-growing market.
North America is estimated to grow at a considerable pace during the forecast period. Increasing buying power, improved access to the digital technologies, higher penetration of internet, and increased adoption of the smart devices are some of the major factors that has propelled the growth of the North America hydraulic fracturing market. The high demand for the fast foods coupled with the busy and hectic schedules of the consumers is boosting the demand for the hydraulic fracturing services owing to the conveniences associated with it.
Key Market Developments
Some of the prominent players in the hydraulic fracturing market include:
Segments Covered in the Report
This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2021 to 2033. For this study, Nova one advisor, Inc. has segmented the global hydraulic fracturing market.
By Well Type
By Application
By Region
Chapter 1. Introduction
1.1. Research Objective
1.2. Scope of the Study
1.3. Definition
Chapter 2. Research Methodology
2.1. Research Approach
2.2. Data Sources
2.3. Assumptions & Limitations
Chapter 3. Executive Summary
3.1. Market Snapshot
Chapter 4. Market Variables and Scope
4.1. Introduction
4.2. Market Classification and Scope
4.3. Industry Value Chain Analysis
4.3.1.Raw Material Procurement Analysis
4.3.2.Sales and Distribution Channel Analysis
4.3.3.Downstream Buyer Analysis
Chapter 5. COVID 19 Impact on Hydraulic Fracturing Market
5.1. COVID-19 Landscape: Hydraulic Fracturing Industry Impact
5.2. COVID 19 - Impact Assessment for the Industry
5.3. COVID 19 Impact: Global Major Government Policy
5.4. Market Trends and Opportunities in the COVID-19 Landscape
Chapter 6. Market Dynamics Analysis and Trends
6.1. Market Dynamics
6.1.1.Market Drivers
6.1.2.Market Restraints
6.1.3. Market Opportunities
6.2. Porter’s Five Forces Analysis
6.2.1. Bargaining power of suppliers
6.2.2. Bargaining power of buyers
6.2.3. Threat of substitute
6.2.4. Threat of new entrants
6.2.5. Degree of competition
Chapter 7. Competitive Landscape
7.1.1. Company Market Share/Positioning Analysis
7.1.2. Key Strategies Adopted by Players
7.1.3.Vendor Landscape
7.1.3.1. List of Suppliers
7.1.3.2. List of Buyers
Chapter 8. Global Hydraulic Fracturing Market, By Type
8.1. Hydraulic Fracturing Market, by Type, 2024-2033
8.1.1. Independent
8.1.1.1. Market Revenue and Forecast (2021-2033)
8.1.2. Commissary/Shared Kitchen
8.1.2.1. Market Revenue and Forecast (2021-2033)
8.1.3. Kitchen Pods
8.1.3.1. Market Revenue and Forecast (2021-2033)
Chapter 9. Global Hydraulic Fracturing Market, By Nature
9.1. Hydraulic Fracturing Market, by Nature, 2024-2033
9.1.1. Standalone
9.1.1.1. Market Revenue and Forecast (2021-2033)
9.1.2. Franchised
9.1.2.1. Market Revenue and Forecast (2021-2033)
Chapter 10. Global Hydraulic Fracturing Market, Regional Estimates and Trend Forecast
10.1. North America
10.1.1. Market Revenue and Forecast, by Type (2021-2033)
10.1.2. Market Revenue and Forecast, by Nature (2021-2033)
10.1.3. U.S.
10.1.3.1. Market Revenue and Forecast, by Type (2021-2033)
10.1.3.2. Market Revenue and Forecast, by Nature (2021-2033)
10.1.4. Rest of North America
10.1.4.1. Market Revenue and Forecast, by Type (2021-2033)
10.1.4.2. Market Revenue and Forecast, by Nature (2021-2033)
10.2. Europe
10.2.1. Market Revenue and Forecast, by Type (2021-2033)
10.2.2. Market Revenue and Forecast, by Nature (2021-2033)
10.2.3. UK
10.2.3.1. Market Revenue and Forecast, by Type (2021-2033)
10.2.3.2. Market Revenue and Forecast, by Nature (2021-2033)
10.2.4. Germany
10.2.4.1. Market Revenue and Forecast, by Type (2021-2033)
10.2.4.2. Market Revenue and Forecast, by Nature (2021-2033)
10.2.5. France
10.2.5.1. Market Revenue and Forecast, by Type (2021-2033)
10.2.5.2. Market Revenue and Forecast, by Nature (2021-2033)
10.2.6. Rest of Europe
10.2.6.1. Market Revenue and Forecast, by Type (2021-2033)
10.2.6.2. Market Revenue and Forecast, by Nature (2021-2033)
10.3. APAC
10.3.1. Market Revenue and Forecast, by Type (2021-2033)
10.3.2. Market Revenue and Forecast, by Nature (2021-2033)
10.3.3. India
10.3.3.1. Market Revenue and Forecast, by Type (2021-2033)
10.3.3.2. Market Revenue and Forecast, by Nature (2021-2033)
10.3.4. China
10.3.4.1. Market Revenue and Forecast, by Type (2021-2033)
10.3.4.2. Market Revenue and Forecast, by Nature (2021-2033)
10.3.5. Japan
10.3.5.1. Market Revenue and Forecast, by Type (2021-2033)
10.3.5.2. Market Revenue and Forecast, by Nature (2021-2033)
10.3.6. Rest of APAC
10.3.6.1. Market Revenue and Forecast, by Type (2021-2033)
10.3.6.2. Market Revenue and Forecast, by Nature (2021-2033)
10.4. MEA
10.4.1. Market Revenue and Forecast, by Type (2021-2033)
10.4.2. Market Revenue and Forecast, by Nature (2021-2033)
10.4.3. GCC
10.4.3.1. Market Revenue and Forecast, by Type (2021-2033)
10.4.3.2. Market Revenue and Forecast, by Nature (2021-2033)
10.4.4. North Africa
10.4.4.1. Market Revenue and Forecast, by Type (2021-2033)
10.4.4.2. Market Revenue and Forecast, by Nature (2021-2033)
10.4.5. South Africa
10.4.5.1. Market Revenue and Forecast, by Type (2021-2033)
10.4.5.2. Market Revenue and Forecast, by Nature (2021-2033)
10.4.6. Rest of MEA
10.4.6.1. Market Revenue and Forecast, by Type (2021-2033)
10.4.6.2. Market Revenue and Forecast, by Nature (2021-2033)
10.5. Latin America
10.5.1. Market Revenue and Forecast, by Type (2021-2033)
10.5.2. Market Revenue and Forecast, by Nature (2021-2033)
10.5.3. Brazil
10.5.3.1. Market Revenue and Forecast, by Type (2021-2033)
10.5.3.2. Market Revenue and Forecast, by Nature (2021-2033)
10.5.4. Rest of LATAM
10.5.4.1. Market Revenue and Forecast, by Type (2021-2033)
10.5.4.2. Market Revenue and Forecast, by Nature (2021-2033)
Chapter 11. Company Profiles
11.1. Kitchen United
11.1.1. Company Overview
11.1.2. Type Offerings
11.1.3. Financial Performance
11.1.4. Recent Initiatives
11.2. Rebel Foods
11.2.1. Company Overview
11.2.2. Type Offerings
11.2.3. Financial Performance
11.2.4. Recent Initiatives
11.3. DoorDash Kitchen
11.3.1. Company Overview
11.3.2. Type Offerings
11.3.3. Financial Performance
11.3.4. Recent Initiatives
11.4. Zuul Kitchen
11.4.1. Company Overview
11.4.2. Type Offerings
11.4.3. Financial Performance
11.4.4. Recent Initiatives
11.5. Keatz
11.5.1. Company Overview
11.5.2. Type Offerings
11.5.3. Financial Performance
11.5.4. Recent Initiatives
11.6. Kitopi
11.6.1. Company Overview
11.6.2. Type Offerings
11.6.3. Financial Performance
11.6.4. Recent Initiatives
11.7. Ghost Kitchen Orlando
11.7.1. Company Overview
11.7.2. Type Offerings
11.7.3. Financial Performance
11.7.4. Recent Initiatives
11.8. Dahmakan
11.8.1. Company Overview
11.8.2. Type Offerings
11.8.3. Financial Performance
11.8.4. Recent Initiatives
11.9. Starbucks (Star Kitchen)
11.9.1. Company Overview
11.9.2. Type Offerings
11.9.3. Financial Performance
11.9.4. Recent Initiatives
11.10. Cloud Kitchen
11.10.1. Company Overview
11.10.2. Type Offerings
11.10.3. Financial Performance
11.10.4. Recent Initiatives
Chapter 12. Research Methodology
12.1. Primary Research
12.2. Secondary Research
12.3. Assumptions
Chapter 13. Appendix
13.1. About Us
13.2. Glossary of Terms
Cross-segment Market Size and Analysis for
Mentioned Segments
Additional Company Profiles (Upto 5 With No Cost)
Additional Countries (Apart From Mentioned Countries)
Country/Region-specific Report
Go To Market Strategy
Region Specific Market DynamicsRegion Level Market Share Import Export AnalysisProduction AnalysisOthers