The global hydraulic fracturing market size was US$ 26.1 billion in 2021. The global hydraulic fracturing market is forecast to grow to US$ 45.1 billion by 2030 by growing at a compound annual growth rate (CAGR) of 7.1% during the forecast period from 2022 to 2030. 

Factors Influencing the Market

The growing urban population and rising demand for oil, natural gases, and other resources are forecast to surge the growth of the global hydraulic fracturing market. In addition, the growing focus of industry players on increasing the productivity of crude oil is forecast to benefit the overall hydraulic fracturing market. 

The rising deployment of cutting-edge technologies for exploring shale gas will contribute to the growth of the global hydraulic fracturing market over the forecast period. In addition, rising demand for natural gas and hydrocarbon will propel the hydraulic fracturing market forward. 

Stringent rules and regulations related to environmental protection are forecast to restrict the growth of the global hydraulic fracturing market.

During the forecast period, technological advancements and the adoption of better procedures are forecast to drive the hydraulic fracturing market forward. 

COVID-19 Impact Analysis

The COVID-19 pandemic has had a significant negative impact of the pandemic on the hydraulic fracturing market. It is due to the shutdown of manufacturing industries for a considerable time period. In addition, stringent government law and import-export challenges further hampered the growth of the hydraulic fracturing market. The COVID-19 epidemic has had a significant impact on the shale oil and gas industry, which is one of the main uses of hydraulic fracturing techniques. Thus, all of these factors discuss how COVID-19 negatively impacted the global hydraulic fracturing market. 

Regional Analysis

North America is forecast to dominate the global hydraulic fracturing market as the region is one of the major producers of crude oil and natural gas. In addition, growing drilling activities and new offshore projects are forecast to benefit the global hydraulic fracturing market during the study period. Asia-Pacific is forecast to register considerable growth, owing to the growing demand for energy in emerging economies like India and China. In addition, the increasing strategies by industry players, such as mergers and acquisitions, will benefit the regional market during the analysis period.

Competitors in the Market

• Baker Hughes GE
• Schlumberger
• National Oilwell Varco 
• Patterson-UTI Energy
• FracChem LLC
• TechnipFMC
• Halliburton
• Nuverra
• FTS International 
• US Well Services
• Other Prominent Players

Market Segmentation

The global hydraulic fracturing market segmentation focuses on Technology, Material, Application, and Region. 

Based on the technology, the hydraulic fracturing market has been segmented into –

• Plug and Perf
• Sliding Sleeve

Based on the material, the hydraulic fracturing market has been segmented into –

• Proppant
• Sand
• Ceramic
• Resin-coated sand

Based on the application, the hydraulic fracturing market has been segmented into –

• Shale gas
• Tight gas
• Tight oil
• CBM

Based on region, the hydraulic fracturing market has been segmented into –

• North America
• The U.S.
• Canada
• Mexico
• Europe
• Western Europe
• The UK
• Germany
• France
• Italy
• Spain
• Rest of Western Europe
• Eastern Europe
• Poland
• Russia
• Rest of Eastern Europe
• Asia Pacific
• China
• India
• Japan
• Australia & New Zealand
• ASEAN
• Rest of Asia Pacific
• Middle East & Africa (MEA)
• UAE
• Saudi Arabia
• South Africa
• Rest of MEA
• South America
• Brazil
• Argentina
• Rest of South America