The latest market report published by Credence Research Inc. is “Global Fracking Fluid End Market: Growth, Future Prospects, and Competitive Analysis, 2016 – 2028”. The Global Fracking Fluid End Market generated revenue of around USD 525.6 million in 2021 and is anticipated to grow a CAGR of over 6% during the forecast period from 2022 to 2028 to reach around USD 745.57 million in 2028.
Fracking fluid is a chemical mixture used during drilling operations to increase the number of hydrocarbons extracted. It aids in the prevention of good corrosion. Fracking fluid end lubricates the extraction process and inhibits bacteria growth and clogs. It is employed during the hydraulic fracturing procedure. Hydraulic fracturing is a technique that breaks underground rock by releasing additives, fluid, and sand at high pressure to extract natural gas and oil. Hydraulic fracturing also allows the production of clean energy.
Fracking fluid and chemicals help to reduce frictional pressure loss and maintain stability. Fracking fluid end performs various functions, including fluid viscosity maintenance, mineral dissolution, scale deposition and corrosion prevention, and product stabilization. Thus, fracking fluids are important in increasing yield and product quality. The global fracking fluid end market is driven by the growth in oil exploration activities worldwide. The shifting trend of drilling wells toward horizontal drilling is expected to propel global market growth for the fracking fluid end. Horizontal fracking requires more fracking fluids and chemicals than vertical drilling, resulting in market expansion. Growing energy demand causes rising fracking fluid end demand, positively impacting the global market. However, water backflow can contaminate surface and groundwater, and stringent regulations against fracking fluids and an increasing demand for alternatives are limiting the global fracking fluid end market growth.
Browse Global Fracking Fluid End Market report-https://www.credenceresearch.com/report/fracking-fluid-end-market
The global fracking fluid end market is bifurcated into material type, end-user type, horsepower type, design type, and geography. Based on the material type, the market is categorized into the carbon-steel fluid end and stainless-steel fluid end. Based on end-user type, the market is divided into OE and aftermarket. Based on horsepower type, the global market is segmented into 2000-2500 HP and above 2500 HP. Based on the design type, the market is categorized into triplex and quintuplex. The market is categorized geographically into North America, Europe, Asia Pacific, Latin America, the Middle East, and Africa.
North America dominated the global fracking fluid end market in 2021, accounting for a significant market revenue share due to rising gas and oil exploration activities, stable economic growth rate, and favorable government regulatory policies. Acceptance of advanced drilling technologies, such as horizontal drilling, in regional countries to recover oil and gas benefits the fracking fluid end market. The United States is the leading fracking fluid end market in North America, owing primarily to the availability of unconventional resources and the presence of major hydraulic fracturing operators.
Why to Buy This Report-
- The report examines the global fracking fluid end market by segment, current trends, drivers, restraints, opportunities, challenges, and market dynamics from 2016 to 2020, with 2021 as the base year and 2022-2028 as the projected period.
- The report describes the competitive environment in the market, including how major players operate at the national, regional, and international levels.
- In-depth analysis of the global fracking fluid end market segmentation by material, end-user, horsepower, and design.
- The report includes comprehensive and authentic data for all factors, including CAGR, consumer purchasing trends, supply and demand, and import/export statistics for major regional countries.
- The fracking fluid end market report includes global, regional, and country-level market analysis, key market trends, major players analysis, market growth strategies, and key application areas.
The Global Fracking Fluid End Market is Segmented into:
|Forecast Period||2022 – 2028|
|Historical Year||2016 – 2021|
|By Architecture Type (2016–2028; US$ Mn)|
|By Material Type (2016–2028; US$ Mn)|
|By End-User Type (2016–2028; US$ Mn)|
|By Horsepower Type (2016–2028; US$ Mn)|
|By Design Type (2016–2028; US$ Mn)|
|By Geography Segment (2016–2028; US$ Mn)|