Hydraulic Fracturing Market by Well Type (Horizontal Well, and Vertical Well), Technology (Plug and Perf, and Sliding Sleeve), Application (Shale gas, Tight Oil, and Tight gas) and Region - Global Trends and Forecast to 2028

Abstract
The global hydraulic fracturing market is estimated to grow from USD 52.1 Billion in 2023 to USD 74.4 Billion by 2028; it is expected to record a CAGR of 7.4% during the forecast period. The presence of large shale-proved reserves and increasing shale exploration and production activities globally will drive the hydraulic fracturing market in the forecasted period.

“Shale Gas: The largest segment of the hydraulic fracturing market, by application “

Based on application, the hydraulic fracturing market has been split into three types: shale gas, tight oil, and tight gas. Shale Gas holds the largest share of the hydraulic fracturing market. Natural gas that has been trapped inside shale formations is referred to as shale gas. Fine-grained sedimentary rocks called shale are potentially abundant sources of gas and oil. Shale gas is extracted via a procedure called hydraulic fracturing. There are a large number of shale reserves across the globeThe increasing demand for natural gas is attributed to driving the market of hydraulic fracturing for shale gas applications in the forecasted period.

“Horizontal segment is expected to emerge as the largest segment based on well type.”

By well type, the hydraulic fracturing market has been segmented into vertical and horizontal. For maximizing reservoir performance, horizontal wells employ a multi-directional drilling technique with inclinations exceeding 80°. The powerful alliance of horizontal drilling and hydraulic fracturing has resulted in a remarkable surge in the rates of US crude oil, lease condensate, and natural gas production. This dynamic combination has revolutionized the energy industry by efficiently accessing hydrocarbon reserves and unlocking their potential, contributing significantly to the nation's energy output and enhancing energy security.

“By technology, the plug & perf segment is expected to be the largest market during the forecast period.”

Based on technology, the hydraulic fracturing market is segmented into plug & perf and sliding sleeves. Plug & purf technology is expected to be the largest segment during the forecast period. Plug & Perf technology is a widely used method in hydraulic fracturing. It involves placing plugs in the wellbore at specific intervals and isolating sections for fracturing. High-pressure fluid is then pumped to fracture the rock, and once completed, the plugs are removed, allowing for the flow of oil or gas.

Asia Pacific is expected to be the second-largest region in the hydraulic fracturing market.

Asia Pacific is expected to be the second-largest hydraulic fracturing market during the forecast period. The region has been segmented, by country, into China, Australia, and the Rest of Asia Pacific. The Rest of Asia Pacific includes India and Turkey. Asia Pacific is a significant contributor to the hydraulic fracturing market in the current scenario owing to a large presence of unconventional resources.

The Asia Pacific region has seen rapid expansion in demand for oil and gas in recent years attributed to a growing population, increased per capita income, urbanization, and growth in the number of petrochemical refineries. According to the IEA, the region is expected to account for about 37.8% of global crude oil consumption by 2026. China is one of the major contributors to the hydraulic fracturing market, owing to a large presence of mature oilfields in the South China Sea and increasing shale production.

Breakdown of Primaries:
In-depth interviews have been conducted with various key industry participants, subject-matter experts, C-level executives of key market players, and industry consultants, among other experts, to obtain and verify critical qualitative and quantitative information, as well as to assess future market prospects.

The distribution of primary interviews is as follows:
By Company Type: Tier 1- 65%, Tier 2- 24%, and Tier 3- 11%
By Designation: C-Level- 30%, Director Levels- 25%, and Others- 45%
By Region: North America- 15%, %, Europe- 25%, Asia Pacific- 35, South America- 15% and

Middle East & Africa- 10%
Note: Others include product engineers, product specialists, and engineering leads.
Note: The tiers of the companies are defined on the basis of their total revenues as of 2022. Tier 1: > USD 1 billion, Tier 2: From USD 500 million to USD 1 billion, and Tier 3: < USD 500 million

The hydraulic fracturing market is dominated by a few major players that have a wide regional presence. The leading players in the hydraulic fracturing market are Halliburton (US), SLB (US), Liberty Oilfield Services LLC (US), Baker Hughes (US), and NexTier Oilfield Solutions (US).

Research Coverage:
The report defines, describes, and forecasts the global hydraulic fracturing market by type, end-user industry, application, and region. It also offers a detailed qualitative and quantitative analysis of the market. The report provides a comprehensive review of the major market drivers, restraints, opportunities, and challenges. It also covers various important aspects of the market. These include an analysis of the competitive landscape, market dynamics, market estimates in terms of value, and future trends in the hydraulic fracturing market.

Key Benefits of Buying the Report
•The presence of large shale-proved reserves globally and increasing shale gas drilling activities are the main factors driving the hydraulic fracturing market. Factors such as growing concerns regarding seismic activities due to hydraulic fracturing still restrain the market. The capability of foams presents a good opportunity for players to include waterless fracking for the hydraulic fracturing market to grow, even though the health and environmental impacts of fracking chemicals are the major challenge faced by countries under hydraulic fracturing development.
•Product Development/ Innovation: The hydraulic fracturing market is witnessing significant product development and innovation, driven by the growing demand for hydraulic fracturing technology. Companies are investing in the development of advanced hydraulic fracturing that is specifically designed for the unique requirements of the industry.
•Market Development: ProFrac acquired Producers Services Holdings LLC, an pressure pumping services company serving Appalachia and the Mid-Continent. ProFrac bought Producers for about $35 million in total transaction value, according to the terms of the arrangement.
•Market Diversification: NexTier Oilfield Solutions and Patterson-UTI Energy, Inc. announced that they have entered into a definitive merger agreement to combine in an all-stock merger of equals transaction. The combined company will be an industry-leading drilling and completions services provider with operations in the most active major U.S. basins.
•Competitive Assessment: In-depth assessment of market shares, growth strategies, and service offerings of leading players like include Halliburton (US), SLB (US), Liberty Oilfield Services LLC (US), Baker Hughes (US), and NexTier Oilfield Solutions (US) among others in the hydraulic fracturing market.

Content
Table of Contents

1INTRODUCTION26
1.1STUDY OBJECTIVES26
1.2MARKET DEFINITION26
1.3INCLUSIONS AND EXCLUSIONS27
1.4MARKET SCOPE27
1.4.1HYDRAULIC FRACTURING MARKET: SEGMENTATION27
1.4.2GEOGRAPHICAL SCOPE28
1.5YEARS CONSIDERED28
1.6CURRENCY CONSIDERED29
1.7LIMITATIONS29
1.8STAKEHOLDERS29
1.9SUMMARY OF CHANGES29
1.10IMPACT OF RECESSION30
2RESEARCH METHODOLOGY31
2.1RESEARCH DATA31
FIGURE 1HYDRAULIC FRACTURING MARKET: RESEARCH DESIGN32
2.2MARKET BREAKDOWN AND DATA TRIANGULATION33
FIGURE 2DATA TRIANGULATION METHODOLOGY33
2.2.1SECONDARY DATA34
2.2.1.1Key data from secondary sources34
2.2.2PRIMARY DATA35
2.2.2.1Key data from primary sources35
2.2.2.2Breakdown of primaries36
FIGURE 3BREAKDOWN OF PRIMARIES36
2.3MARKET SIZE ESTIMATION37
2.3.1BOTTOM-UP APPROACH37
FIGURE 4HYDRAULIC FRACTURING MARKET: BOTTOM-UP APPROACH37
2.3.2TOP-DOWN APPROACH38
FIGURE 5HYDRAULIC FRACTURING MARKET: TOP-DOWN APPROACH38
2.3.3DEMAND-SIDE METRICS39
FIGURE 6METRICS CONSIDERED FOR ANALYZING AND ASSESSING DEMAND FOR HYDRAULIC FRACTURING SYSTEMS39
2.3.3.1Calculation for demand-side metrics39
2.3.3.2Assumptions for demand-side analysis39
2.3.4SUPPLY-SIDE ANALYSIS40
FIGURE 7KEY METRICS CONSIDERED FOR ASSESSING SUPPLY OF HYDRAULIC FRACTURING40
FIGURE 8HYDRAULIC FRACTURING MARKET: SUPPLY-SIDE ANALYSIS40
2.3.4.1Calculation for supply-side metrics41
2.3.4.2Assumptions for supply-side analysis41
2.3.5FORECAST41
2.3.5.1Recession impact analysis41
3EXECUTIVE SUMMARY42
TABLE 1HYDRAULIC FRACTURING MARKET SNAPSHOT42
FIGURE 9SHALE GAS SEGMENT TO CONTINUE TO HOLD LARGEST SIZE OF MARKET, BY APPLICATION, DURING FORECAST PERIOD43
FIGURE 10HORIZONTAL SEGMENT TO DOMINATE HYDRAULIC FRACTURING MARKET, BY WELL TYPE, DURING FORECAST PERIOD43
FIGURE 11PLUG & PERF SEGMENT TO HOLD LARGER SIZE OF HYDRAULIC FRACTURING MARKET, BY TECHNOLOGY, DURING FORECAST PERIOD44
FIGURE 12NORTH AMERICA DOMINATED HYDRAULIC FRACTURING MARKET IN 202244
4PREMIUM INSIGHTS46
4.1ATTRACTIVE OPPORTUNITIES FOR PLAYERS IN HYDRAULIC FRACTURING MARKET46
FIGURE 13INCREASING SHALE EXPLORATION AND PRODUCTION ACTIVITIES TO DRIVE HYDRAULIC FRACTURING MARKET FROM 2023 TO 202846
4.2HYDRAULIC FRACTURING MARKET, BY REGION47
FIGURE 14NORTH AMERICA TO RECORD HIGHEST CAGR IN HYDRAULIC FRACTURING MARKET DURING FORECAST PERIOD47
4.3HYDRAULIC FRACTURING MARKET, BY APPLICATION47
FIGURE 15SHALE GAS SEGMENT DOMINATED HYDRAULIC FRACTURING MARKET IN 202247
4.4HYDRAULIC FRACTURING MARKET, BY WELL TYPE48
FIGURE 16HORIZONTAL SEGMENT ACCOUNTED FOR LARGER SHARE OF HYDRAULIC FRACTURING MARKET IN 202248
4.5HYDRAULIC FRACTURING MARKET, BY TECHNOLOGY48
FIGURE 17PLUG & PERF SEGMENT DOMINATED HYDRAULIC FRACTURING MARKET IN 202248
4.6NORTH AMERICA: HYDRAULIC FRACTURING MARKET, BY WELL TYPE & COUNTRY49
FIGURE 18HORIZONTAL & US DOMINATED HYDRAULIC FRACTURING MARKET IN NORTH AMERICA IN 202249
5MARKET OVERVIEW50
5.1INTRODUCTION50
5.2MARKET DYNAMICS50
FIGURE 19HYDRAULIC FRACTURING MARKET: DRIVERS, RESTRAINTS, OPPORTUNITIES, AND CHALLENGES50
5.2.1DRIVERS51
5.2.1.1Increasing shale exploration and production activities globally51
5.2.1.1.1Presence of large shale-proven reserves globally51
5.2.1.1.2Increasing shale gas drilling activities51
FIGURE 20DRY NATURAL GAS PRODUCTION IN US, BY TYPE, 2000–205052
5.2.1.2Growing demand for hydraulic fracturing technology with increasing requirement for energy52
FIGURE 21GLOBAL OIL DEMAND, 2019–202853
FIGURE 22GLOBAL NATURAL GAS DEMAND, BY REGION, 2010–205053
5.2.2RESTRAINTS54
5.2.2.1High water usage and environmental concerns associated with hydraulic fracturing54
FIGURE 23WATER USAGE IN SHALE PLAYS ACROSS US55
FIGURE 24HYDRAULIC FRACTURING WATER CYCLE AND ITS IMPACT ON WATER SUPPLIES55
FIGURE 25FRACTURING FLUID COMPOSITION56
5.2.2.2Growing concerns regarding seismic activities due to hydraulic fracturing56
5.2.2.3Local ban and suspensions on hydraulic fracturing57
TABLE 2HYDRAULIC FRACTURING: POLICIES REGARDING SHALE OIL AND GAS PRODUCTION57
5.2.3OPPORTUNITIES59
5.2.3.1Foams’ capability to facilitate waterless fracking59
FIGURE 26APPLICATIONS OF FOAM IN OIL & GAS INDUSTRY59
TABLE 3COMPARISON OF VARIOUS FRACTURING FLUIDS60
5.2.4CHALLENGES60
5.2.4.1Health and environmental impacts of fracking chemicals60
5.2.4.2Disruptions in hydraulic fracturing operations and demand shock61
5.3TRENDS/DISRUPTIONS IMPACTING CUSTOMER BUSINESS61
5.3.1REVENUE SHIFTS AND NEW REVENUE POCKETS FOR PROVIDERS OF HYDRAULIC FRACTURING61
FIGURE 27REVENUE SHIFTS FOR HYDRAULIC FRACTURING PROVIDERS62
5.4SUPPLY CHAIN ANALYSIS63
FIGURE 28HYDRAULIC FRACTURING MARKET: SUPPLY CHAIN ANALYSIS63
5.4.1RAW MATERIAL SUPPLIERS63
5.4.2SERVICE PROVIDERS63
5.4.3OILFIELD OPERATORS63
TABLE 4ROLE OF KEY COMPANIES IN HYDRAULIC FRACTURING ECOSYSTEM64
5.5ECOSYSTEM MAPPING65
FIGURE 29HYDRAULIC FRACTURING MARKET MAP65
5.6PATENT ANALYSIS65
5.6.1LIST OF MAJOR PATENTS65
TABLE 5HYDRAULIC FRACTURING: INNOVATIONS AND PATENT REGISTRATIONS, 2018–202365
5.7TARIFFS AND REGULATORY FRAMEWORK67
5.7.1REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS67
TABLE 6NORTH AMERICA: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS67
TABLE 7EUROPE: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS68
TABLE 8ASIA PACIFIC: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS68
TABLE 9LATIN AMERICA: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS69
TABLE 10MIDDLE EAST AND AFRICA: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS70
5.7.2HYDRAULIC FRACTURING MARKET: REGULATORY FRAMEWORK70
TABLE 11HYDRAULIC FRACTURING MARKET: REGULATIONS70
5.8CASE STUDY ANALYSIS72
5.8.1OPTIMIZATION OF HYDRAULIC FRACTURING OF HIGH PRESSURE AND HIGH TEMPERATURE (HPHT) TIGHT FORMATIONS WITH MULTISTAGE COMPLETION SYSTEM72
5.9PORTER'S FIVE FORCES ANALYSIS73
FIGURE 30HYDRAULIC FRACTURING MARKET: PORTER’S FIVE FORCES ANALYSIS73
TABLE 12HYDRAULIC FRACTURING MARKET: PORTER’S FIVE FORCES ANALYSIS73
5.9.1THREAT OF NEW ENTRANTS74
5.9.2BARGAINING POWER OF BUYERS74
5.9.3BARGAINING POWER OF SUPPLIERS74
5.9.4THREAT OF SUBSTITUTES74
5.9.5INTENSITY OF COMPETITIVE RIVALRY75
6HYDRAULIC FRACTURING MARKET, BY APPLICATION76
6.1INTRODUCTION77
FIGURE 31SHALE GAS SEGMENT HELD LARGEST SHARE OF HYDRAULIC FRACTURING MARKET IN 202277
TABLE 13HYDRAULIC FRACTURING MARKET, BY APPLICATION, 2019–2022 (USD MILLION)77
TABLE 14HYDRAULIC FRACTURING MARKET, BY APPLICATION, 2023–2028 (USD MILLION)78
6.2SHALE GAS78
6.2.1INCREASING DEMAND FOR NATURAL GAS TO DRIVE SEGMENT78
TABLE 15SHALE GAS: HYDRAULIC FRACTURING MARKET, BY REGION, 2019–2022 (USD MILLION)79
TABLE 16SHALE GAS: HYDRAULIC FRACTURING MARKET, BY REGION, 2023–2028 (USD MILLION)79
6.3TIGHT OIL79
6.3.1INCREASING DEMAND FOR CRUDE OIL TO BOOST SEGMENTAL LANDSCAPE79
TABLE 17TIGHT OIL: HYDRAULIC FRACTURING MARKET, BY REGION, 2019–2022 (USD MILLION)80
TABLE 18TIGHT OIL: HYDRAULIC FRACTURING MARKET, BY REGION, 2023–2028 (USD MILLION)80
6.4TIGHT GAS81
6.4.1INCREASING INVESTMENTS IN DEVELOPMENT OF TIGHT GAS FIELDS TO DRIVE SEGMENT81
TABLE 19TIGHT GAS: HYDRAULIC FRACTURING MARKET, BY REGION, 2019–2022 (USD MILLION)81
TABLE 20TIGHT GAS: HYDRAULIC FRACTURING MARKET, BY REGION, 2023–2028 (USD MILLION)81
7HYDRAULIC FRACTURING MARKET, BY WELL TYPE82
7.1INTRODUCTION83
FIGURE 32HORIZONTAL SEGMENT HELD LARGER SHARE OF HYDRAULIC FRACTURING MARKET IN 202283
TABLE 21HYDRAULIC FRACTURING MARKET, BY WELL TYPE, 2019–2022 (USD MILLION)83
TABLE 22HYDRAULIC FRACTURING MARKET, BY WELL TYPE, 2023–2028 (USD MILLION)84
7.2HORIZONTAL84
7.2.1SHALE DEVELOPMENTS TO BOOST GROWTH OF HORIZONTAL SEGMENT84
TABLE 23HORIZONTAL: HYDRAULIC FRACTURING MARKET, BY REGION, 2019–2022 (USD MILLION)84
TABLE 24HORIZONTAL: HYDRAULIC FRACTURING MARKET, BY REGION, 2023–2028 (USD MILLION)85
7.3VERTICAL85
7.3.1STEADILY INCREASING INVESTMENTS IN UNCONVENTIONAL RESOURCES TO DRIVE SEGMENT85
TABLE 25VERTICAL: HYDRAULIC FRACTURING MARKET, BY REGION, 2019–2022 (USD MILLION)85
TABLE 26VERTICAL: HYDRAULIC FRACTURING MARKET, BY REGION, 2023–2028 (USD MILLION)86
8HYDRAULIC FRACTURING MARKET, BY TECHNOLOGY87
8.1INTRODUCTION88
FIGURE 33PLUG & PERF SEGMENT HELD LARGER SHARE OF HYDRAULIC FRACTURING MARKET IN 202288
TABLE 27HYDRAULIC FRACTURING MARKET, BY TECHNOLOGY, 2019–2022 (USD MILLION)88
TABLE 28HYDRAULIC FRACTURING MARKET, BY TECHNOLOGY, 2023–2028 (USD MILLION)89
8.2PLUG & PERF89
8.2.1EASE OF OPERATION AND ACCESSIBILITY TO BOOST DEMAND FOR PLUG & PERF TECHNOLOGY89
TABLE 29PLUG & PERF: HYDRAULIC FRACTURING MARKET, BY REGION, 2019–2022 (USD MILLION)89
TABLE 30PLUG & PERF: HYDRAULIC FRACTURING MARKET, BY REGION, 2023–2028 (USD MILLION)90
8.3SLIDING SLEEVE90
8.3.1INCREASING INVESTMENTS IN DEVELOPMENT OF SLIDING SLEEVE TECHNOLOGY TO DRIVE MARKET GROWTH90
TABLE 31SLIDING SLEEVE: HYDRAULIC FRACTURING MARKET, BY REGION, 2019–2022 (USD MILLION)91
TABLE 32SLIDING SLEEVE: HYDRAULIC FRACTURING MARKET, BY REGION, 2023–2028 (USD MILLION)91
9HYDRAULIC FRACTURING MARKET, BY REGION92
9.1INTRODUCTION93
FIGURE 34HYDRAULIC FRACTURING MARKET IN NORTH AMERICA TO REGISTER HIGHEST CAGR FROM 2023 TO 202894
FIGURE 35NORTH AMERICA ACCOUNTED FOR LARGEST SHARE OF HYDRAULIC FRACTURING MARKET IN 202294
TABLE 33HYDRAULIC FRACTURING MARKET, BY REGION, 2019–2022 (USD MILLION)95
TABLE 34HYDRAULIC FRACTURING MARKET, BY REGION, 2023–2028 (USD MILLION)95
9.2NORTH AMERICA95
FIGURE 36NORTH AMERICA: HYDRAULIC FRACTURING MARKET SNAPSHOT96
9.2.1NORTH AMERICA: RECESSION IMPACT97
9.2.2MACRO TRENDS97
9.2.2.1Shale gas reserves97
TABLE 35TOTAL TECHNICALLY RECOVERABLE SHALE GAS RESERVES IN NORTH AMERICA, BY COUNTRY (TCF)97
9.2.2.2Shale/Tight oil reserves97
TABLE 36TOTAL TECHNICALLY RECOVERABLE SHALE/TIGHT OIL RESERVES IN NORTH AMERICA, BY COUNTRY (BILLION BBL)97
9.2.2.3Crude oil production97
TABLE 37CRUDE OIL PRODUCTION IN NORTH AMERICA, BY COUNTRY (THOUSAND BARRELS DAILY)97
9.2.3BY APPLICATION98
TABLE 38NORTH AMERICA: HYDRAULIC FRACTURING MARKET, BY APPLICATION, 2019–2022 (USD MILLION)98
TABLE 39NORTH AMERICA: HYDRAULIC FRACTURING MARKET, BY APPLICATION, 2023–2028 (USD MILLION)98
9.2.4BY WELL TYPE98
TABLE 40NORTH AMERICA: HYDRAULIC FRACTURING MARKET, BY WELL TYPE, 2019–2022 (USD MILLION)98
TABLE 41NORTH AMERICA: HYDRAULIC FRACTURING MARKET, BY WELL TYPE, 2023–2028 (USD MILLION)99
9.2.4.1Well type, by country99
TABLE 42NORTH AMERICA: HORIZONTAL HYDRAULIC FRACTURING MARKET, BY COUNTRY, 2019–2022 (USD MILLION)99
TABLE 43NORTH AMERICA: HORIZONTAL HYDRAULIC FRACTURING MARKET, BY COUNTRY, 2023–2028 (USD MILLION)99
TABLE 44NORTH AMERICA: VERTICAL HYDRAULIC FRACTURING MARKET, BY COUNTRY, 2019–2022 (USD MILLION)99
TABLE 45NORTH AMERICA: VERTICAL HYDRAULIC FRACTURING MARKET, BY COUNTRY, 2023–2028 (USD MILLION)100
9.2.5BY TECHNOLOGY100
TABLE 46NORTH AMERICA: HYDRAULIC FRACTURING MARKET, BY TECHNOLOGY, 2019–2022 (USD MILLION)100
TABLE 47NORTH AMERICA: HYDRAULIC FRACTURING MARKET, BY TECHNOLOGY, 2023–2028 (USD MILLION)100
9.2.5.1Technology, by country100
TABLE 48NORTH AMERICA: HYDRAULIC FRACTURING MARKET FOR PLUG & PERF, BY COUNTRY, 2019–2022 (USD MILLION)100
TABLE 49NORTH AMERICA: HYDRAULIC FRACTURING MARKET FOR PLUG & PERF, BY COUNTRY, 2023–2028 (USD MILLION)101
TABLE 50NORTH AMERICA: HYDRAULIC FRACTURING MARKET FOR SLIDING SLEEVE, BY COUNTRY, 2019–2022 (USD MILLION)101
TABLE 51NORTH AMERICA: HYDRAULIC FRACTURING MARKET FOR SLIDING SLEEVE, BY COUNTRY, 2023–2028 (USD MILLION)101
9.2.6BY COUNTRY101
TABLE 52NORTH AMERICA: HYDRAULIC FRACTURING MARKET, BY COUNTRY, 2019–2022 (USD MILLION)101
TABLE 53NORTH AMERICA: HYDRAULIC FRACTURING MARKET, BY COUNTRY, 2023–2028 (USD MILLION)102
9.2.6.1US102
9.2.6.1.1Increasing production from shale and tight oil reserves to drive market102
9.2.6.1.2Macro trends103
TABLE 54TOTAL TECHNICALLY RECOVERABLE SHALE GAS RESERVES IN US (TCF)103
TABLE 55SHALE/TIGHT OIL PROVEN RESERVES FROM SELECTED TIGHT PLAYS IN US, 2021 (MILLION BBL)103
TABLE 56CRUDE OIL PRODUCTION IN US (THOUSAND BARRELS DAILY)103
9.2.6.1.3By well type104
TABLE 57US: HYDRAULIC FRACTURING MARKET, BY WELL TYPE, 2019–2022 (USD MILLION)104
TABLE 58US: HYDRAULIC FRACTURING MARKET, BY WELL TYPE, 2023–2028 (USD MILLION)104
9.2.6.1.4By technology104
TABLE 59US: HYDRAULIC FRACTURING MARKET, BY TECHNOLOGY, 2019–2022 (USD MILLION)104
TABLE 60US: HYDRAULIC FRACTURING MARKET, BY TECHNOLOGY, 2023–2028 (USD MILLION)104
9.2.6.2Canada105
9.2.6.2.1Increasing investments in Duvernay and Montney formations to drive market105
9.2.6.2.2Macro trends105
TABLE 61TOTAL TECHNICALLY RECOVERABLE SHALE GAS RESERVES IN CANADA, BY COUNTRY (TCF)105
TABLE 62TOTAL TECHNICALLY RECOVERABLE SHALE/TIGHT OIL RESERVES IN CANADA (BILLION BBL)106
TABLE 63CRUDE OIL PRODUCTION IN CANADA (THOUSAND BARRELS DAILY)107
9.2.6.2.3By well type107
TABLE 64CANADA: HYDRAULIC FRACTURING MARKET, BY WELL TYPE, 2019–2022 (USD MILLION)107
TABLE 65CANADA: HYDRAULIC FRACTURING MARKET, BY WELL TYPE, 2023–2028 (USD MILLION)107
9.2.6.2.4By technology107
TABLE 66CANADA: HYDRAULIC FRACTURING MARKET, BY TECHNOLOGY, 2019–2022 (USD MILLION)107
TABLE 67CANADA: HYDRAULIC FRACTURING MARKET, BY TECHNOLOGY, 2023–2028 (USD MILLION)108
9.3ASIA PACIFIC108
FIGURE 37ASIA PACIFIC: HYDRAULIC FRACTURING MARKET SNAPSHOT109
9.3.1ASIA PACIFIC: RECESSION IMPACT109
9.3.2MACRO TRENDS110
9.3.2.1Shale gas reserves110
TABLE 68TOTAL TECHNICALLY RECOVERABLE SHALE GAS RESERVES IN ASIA PACIFIC, BY COUNTRY (TCF)110
9.3.2.2Shale/Tight oil reserves110
TABLE 69TOTAL TECHNICALLY RECOVERABLE SHALE/TIGHT OIL RESERVES IN ASIA PACIFIC, BY COUNTRY (BILLION BBL)110
9.3.2.3Crude oil production110
TABLE 70CRUDE OIL PRODUCTION IN ASIA PACIFIC, BY COUNTRY (THOUSAND BARRELS DAILY)110
9.3.3BY APPLICATION111
TABLE 71ASIA PACIFIC: HYDRAULIC FRACTURING MARKET, BY APPLICATION, 2019–2022 (USD MILLION)111
TABLE 72ASIA PACIFIC: HYDRAULIC FRACTURING MARKET, BY APPLICATION, 2023–2028 (USD MILLION)111
9.3.4BY WELL TYPE111
TABLE 73ASIA PACIFIC: HYDRAULIC FRACTURING MARKET, BY WELL TYPE, 2019–2022 (USD MILLION)111
TABLE 74ASIA PACIFIC: HYDRAULIC FRACTURING MARKET, BY WELL TYPE, 2023–2028 (USD MILLION)112
9.3.4.1Well type, by country112
TABLE 75ASIA PACIFIC: HORIZONTAL HYDRAULIC FRACTURING MARKET, BY COUNTRY, 2019–2022 (USD MILLION)112
TABLE 76ASIA PACIFIC: HORIZONTAL HYDRAULIC FRACTURING MARKET, BY COUNTRY, 2023–2028 (USD MILLION)112
TABLE 77ASIA PACIFIC: VERTICAL HYDRAULIC FRACTURING MARKET, BY COUNTRY, 2019–2022 (USD MILLION)113
TABLE 78ASIA PACIFIC: VERTICAL HYDRAULIC FRACTURING MARKET, BY COUNTRY, 2023–2028 (USD MILLION)113
9.3.5BY TECHNOLOGY113
TABLE 79ASIA PACIFIC: HYDRAULIC FRACTURING MARKET, BY TECHNOLOGY, 2019–2022 (USD MILLION)113
TABLE 80ASIA PACIFIC: HYDRAULIC FRACTURING MARKET, BY TECHNOLOGY, 2023–2028 (USD MILLION)114
9.3.5.1Technology, by country114
TABLE 81ASIA PACIFIC: HYDRAULIC FRACTURING MARKET FOR PLUG & PERF, BY COUNTRY, 2019–2022 (USD MILLION)114
TABLE 82ASIA PACIFIC: HYDRAULIC FRACTURING MARKET FOR PLUG & PERF, BY COUNTRY, 2023–2028 (USD MILLION)114
TABLE 83ASIA PACIFIC: HYDRAULIC FRACTURING MARKET FOR SLIDING SLEEVE, BY COUNTRY, 2019–2022 (USD MILLION)115
TABLE 84ASIA PACIFIC: HYDRAULIC FRACTURING MARKET FOR SLIDING SLEEVE, BY COUNTRY, 2023–2028 (USD MILLION)115
9.3.6BY COUNTRY115
TABLE 85ASIA PACIFIC: HYDRAULIC FRACTURING MARKET, BY COUNTRY, 2019–2022 (USD MILLION)115
TABLE 86ASIA PACIFIC: HYDRAULIC FRACTURING MARKET, BY COUNTRY, 2023–2028 (USD MILLION)116
9.3.6.1China116
9.3.6.1.1Increasing exploration and production from unconventional resources to fuel market growth116
9.3.6.1.2Macro trends117
TABLE 87TOTAL TECHNICALLY RECOVERABLE SHALE GAS RESERVES IN CHINA (TCF)117
TABLE 88TOTAL TECHNICALLY RECOVERABLE SHALE/TIGHT OIL RESERVES IN CHINA (BILLION BBL)117
TABLE 89CRUDE OIL PRODUCTION IN CHINA (THOUSAND BARRELS DAILY)117
9.3.6.1.3By well type118
TABLE 90CHINA: HYDRAULIC FRACTURING MARKET, BY WELL TYPE, 2019–2022 (USD MILLION)118
TABLE 91CHINA: HYDRAULIC FRACTURING MARKET, BY WELL TYPE, 2023–2028 (USD MILLION)118
9.3.6.1.4By technology118
TABLE 92CHINA: HYDRAULIC FRACTURING MARKET, BY TECHNOLOGY, 2019–2022 (USD MILLION)118
TABLE 93CHINA: HYDRAULIC FRACTURING MARKET, BY TECHNOLOGY, 2023–2028 (USD MILLION)119
9.3.6.2Australia119
9.3.6.2.1Presence of significant unconventional shale resources to create opportunities for market players119
9.3.6.2.2Macro trends119
TABLE 94TOTAL TECHNICALLY RECOVERABLE SHALE GAS RESERVES IN AUSTRALIA (TCF)119
TABLE 95TOTAL TECHNICALLY RECOVERABLE SHALE/TIGHT OIL RESERVES IN AUSTRALIA (BILLION BBL)120
TABLE 96CRUDE OIL PRODUCTION IN AUSTRALIA (THOUSAND BARRELS DAILY)120
9.3.6.2.3By well type120
TABLE 97AUSTRALIA: HYDRAULIC FRACTURING MARKET, BY WELL TYPE, 2019–2022 (USD MILLION)120
TABLE 98AUSTRALIA: HYDRAULIC FRACTURING MARKET, BY WELL TYPE, 2023–2028 (USD MILLION)120
9.3.6.2.4By technology121
TABLE 99AUSTRALIA: HYDRAULIC FRACTURING MARKET, BY TECHNOLOGY, 2019–2022 (USD MILLION)121
TABLE 100AUSTRALIA: HYDRAULIC FRACTURING MARKET, BY TECHNOLOGY, 2023–2028 (USD MILLION)121
9.3.6.3Rest of Asia Pacific121
9.3.6.3.1Macro trends122
TABLE 101TOTAL TECHNICALLY RECOVERABLE SHALE GAS RESERVES IN INDIA (TCF)122
TABLE 102TOTAL TECHNICALLY RECOVERABLE SHALE GAS RESERVES IN TURKEY (TCF)122
TABLE 103TOTAL TECHNICALLY RECOVERABLE SHALE/TIGHT OIL RESERVES IN INDIA (BILLION BBL)122
TABLE 104TOTAL TECHNICALLY RECOVERABLE SHALE/TIGHT OIL RESERVES IN TURKEY (BILLION BBL)122
TABLE 105CRUDE OIL PRODUCTION IN REST OF ASIA PACIFIC (THOUSAND BARRELS DAILY)122
9.3.6.3.2By well type123
TABLE 106REST OF ASIA PACIFIC: HYDRAULIC FRACTURING MARKET, BY WELL TYPE, 2019–2022 (USD MILLION)123
TABLE 107REST OF ASIA PACIFIC: HYDRAULIC FRACTURING MARKET, BY WELL TYPE, 2023–2028 (USD MILLION)123
9.3.6.3.3By technology123
TABLE 108REST OF ASIA PACIFIC: HYDRAULIC FRACTURING MARKET, BY TECHNOLOGY, 2019–2022 (USD MILLION)123
TABLE 109REST OF ASIA PACIFIC: HYDRAULIC FRACTURING MARKET, BY TECHNOLOGY, 2023–2028 (USD MILLION)123
9.4LATIN AMERICA124
9.4.1LATIN AMERICA: RECESSION IMPACT124
9.4.2MACRO TRENDS125
9.4.2.1Shale gas reserves125
TABLE 110TOTAL TECHNICALLY RECOVERABLE SHALE GAS RESERVES IN LATIN AMERICA, BY COUNTRY (TCF)125
9.4.2.2Shale/Tight oil reserves125
TABLE 111TOTAL TECHNICALLY RECOVERABLE SHALE/TIGHT OIL RESERVES IN LATIN AMERICA, BY COUNTRY (BILLION BBL)125
9.4.2.3Crude oil production125
TABLE 112CRUDE OIL PRODUCTION IN LATIN AMERICA, BY COUNTRY (THOUSAND BARRELS DAILY)125
9.4.3BY APPLICATION126
TABLE 113LATIN AMERICA: HYDRAULIC FRACTURING MARKET, BY APPLICATION, 2019–2022 (USD MILLION)126
TABLE 114LATIN AMERICA: HYDRAULIC FRACTURING MARKET, BY APPLICATION, 2023–2028 (USD MILLION)126
9.4.4BY WELL TYPE126
TABLE 115LATIN AMERICA: HYDRAULIC FRACTURING MARKET, BY WELL TYPE, 2019–2022 (USD MILLION)126
TABLE 116LATIN AMERICA: HYDRAULIC FRACTURING MARKET, BY WELL TYPE, 2023–2028 (USD MILLION)127
9.4.4.1Well type, by country127
TABLE 117LATIN AMERICA: HORIZONTAL HYDRAULIC FRACTURING MARKET, BY COUNTRY, 2019–2022 (USD MILLION)127
TABLE 118LATIN AMERICA: HORIZONTAL HYDRAULIC FRACTURING MARKET, BY COUNTRY, 2023–2028 (USD MILLION)127
TABLE 119LATIN AMERICA: VERTICAL HYDRAULIC FRACTURING MARKET, BY COUNTRY, 2019–2022 (USD MILLION)128
TABLE 120LATIN AMERICA: VERTICAL HYDRAULIC FRACTURING MARKET, BY COUNTRY, 2023–2028 (USD MILLION)128
9.4.5BY TECHNOLOGY128
TABLE 121LATIN AMERICA: HYDRAULIC FRACTURING MARKET, BY TECHNOLOGY, 2019–2022 (USD MILLION)128
TABLE 122LATIN AMERICA: HYDRAULIC FRACTURING MARKET, BY TECHNOLOGY, 2023–2028 (USD MILLION)129
9.4.5.1Technology, by country129
TABLE 123LATIN AMERICA: HYDRAULIC FRACTURING MARKET FOR PLUG & PERF, BY COUNTRY, 2019–2022 (USD MILLION)129
TABLE 124LATIN AMERICA: HYDRAULIC FRACTURING MARKET FOR PLUG & PERF, BY COUNTRY, 2023–2028 (USD MILLION)129
TABLE 125LATIN AMERICA: HYDRAULIC FRACTURING MARKET FOR SLIDING SLEEVE, BY COUNTRY, 2019–2022 (USD MILLION)130
TABLE 126LATIN AMERICA: HYDRAULIC FRACTURING MARKET FOR SLIDING SLEEVE, BY COUNTRY, 2023–2028 (USD MILLION)130
9.4.6BY COUNTRY130
TABLE 127LATIN AMERICA: HYDRAULIC FRACTURING MARKET, BY COUNTRY, 2019–2022 (USD MILLION)130
TABLE 128LATIN AMERICA: HYDRAULIC FRACTURING MARKET, BY COUNTRY, 2023–2028 (USD MILLION)131
9.4.6.1Argentina131
9.4.6.1.1Shale developments in Vaca Meurta field to create high demand for hydraulic fracturing services131
9.4.6.1.2Macro trends132
TABLE 129TOTAL TECHNICALLY RECOVERABLE SHALE GAS RESERVES IN ARGENTINA (TCF)132
TABLE 130TOTAL TECHNICALLY RECOVERABLE SHALE/TIGHT OIL RESERVES IN ARGENTINA (BILLION BBL)132
TABLE 131CRUDE OIL PRODUCTION IN ARGENTINA (THOUSAND BARRELS DAILY)132
9.4.6.1.3By well type132
TABLE 132ARGENTINA: HYDRAULIC FRACTURING MARKET, BY WELL TYPE, 2019–2022 (USD MILLION)132
TABLE 133ARGENTINA: HYDRAULIC FRACTURING MARKET, BY WELL TYPE, 2023–2028 (USD MILLION)133
9.4.6.1.4By technology133
TABLE 134ARGENTINA: HYDRAULIC FRACTURING MARKET, BY TECHNOLOGY, 2019–2022 (USD MILLION)133
TABLE 135ARGENTINA: HYDRAULIC FRACTURING MARKET, BY TECHNOLOGY, 2023–2028 (USD MILLION)133
9.4.6.2Mexico134
9.4.6.2.1Increasing investments in maximizing oil and gas production to boost market growth134
9.4.6.2.2Macro trends134
TABLE 136TOTAL TECHNICALLY RECOVERABLE SHALE GAS RESERVES IN MEXICO (TCF)134
TABLE 137TOTAL TECHNICALLY RECOVERABLE SHALE/TIGHT OIL RESERVES IN MEXICO (BILLION BBL)135
TABLE 138CRUDE OIL PRODUCTION IN MEXICO (THOUSAND BARRELS DAILY)135
9.4.6.2.3By well type135
TABLE 139MEXICO: HYDRAULIC FRACTURING MARKET, BY WELL TYPE, 2019–2022 (USD MILLION)135
TABLE 140MEXICO: HYDRAULIC FRACTURING MARKET, BY WELL TYPE, 2023–2028 (USD MILLION)135
9.4.6.2.4By technology136
TABLE 141MEXICO: HYDRAULIC FRACTURING MARKET, BY TECHNOLOGY, 2019–2022 (USD MILLION)136
TABLE 142MEXICO: HYDRAULIC FRACTURING MARKET, BY TECHNOLOGY, 2023–2028 (USD MILLION)136
9.4.6.3Rest of Latin America136
9.4.6.3.1Macro trends137
TABLE 143TOTAL TECHNICALLY RECOVERABLE SHALE GAS RESERVES IN COLOMBIA (TCF)137
TABLE 144TOTAL TECHNICALLY RECOVERABLE SHALE GAS RESERVES IN CHILE (TCF)137
TABLE 145TOTAL TECHNICALLY RECOVERABLE SHALE/TIGHT OIL RESERVES IN COLOMBIA (BILLION BBL)137
TABLE 146TOTAL TECHNICALLY RECOVERABLE SHALE/TIGHT OIL RESERVES IN CHILE (BILLION BBL)137
TABLE 147CRUDE OIL PRODUCTION IN REST OF LATIN AMERICA (THOUSAND BARRELS DAILY)137
9.4.6.3.2By well type138
TABLE 148REST OF LATIN AMERICA: HYDRAULIC FRACTURING MARKET, BY WELL TYPE, 2019–2022 (USD MILLION)138
TABLE 149REST OF LATIN AMERICA: HYDRAULIC FRACTURING MARKET, BY WELL TYPE, 2023–2028 (USD MILLION)138
9.4.6.3.3By technology138
TABLE 150REST OF LATIN AMERICA: HYDRAULIC FRACTURING MARKET, BY TECHNOLOGY, 2019–2022 (USD MILLION)138
TABLE 151REST OF LATIN AMERICA: HYDRAULIC FRACTURING MARKET, BY TECHNOLOGY, 2023–2028 (USD MILLION)138