DUBLIN--(BUSINESS WIRE)--The "U.S. Hydraulic Fracturing Market Size and Forecast by Service Type (Hydraulic Fracturing, Other Auxiliary Services) by End-Use (Oil & Gas Extraction) and Trend Analysis, 2015-2025" report has been added to ResearchAndMarkets.com's offering.
The U.S. hydraulic fracturing market to reach USD 13.91 billion by 2025, owing to the rise in the oil and gas exploration and extraction activities in the country over the forecast period. There is a rise in the demand for primary energy resources owing to the rise in population and industrialization. To meet these demands and ensure the continuous supply of natural resources in the country, the market for unconventional techniques such as hydraulic fracturing is expect to grow over the forecast period. This technology was first employed in the U.S. in 1947 and has been constantly upgraded since then. In 2015, around 67% of natural gas was produced from hydraulically fractured wells in the country.
The U.S. hydraulic fracturing market is expected to grow significantly owing to the rise in the recent developments and innovations such as using hydraulic fracturing in combination with horizontal drilling during shale formations. This has revealed new sources for huge amount of natural gas supplies, which is fulfilling the energy needs of the nation and is expected to transform the energy future.
There is a significant rise in the domestic oil and gas production from hydraulically fractured oil and gas production wells. In 2015, the production of oil from hydraulically fractured reservoirs accounted for more than 50% of the total oil production and the gas production accounted for around 70% of the total gas production in the country.
The hydraulic fracturing segment dominated the market in 2017 and is expected to maintain its dominant position over the forecast period owing to the use of hydraulic fracturing and horizontal drilling activities in conventional and unconventional reservoirs. Oil & gas industry recently has been experiencing a decline in the production rates from the present conventional reservoirs.
- Baker Hughes
- Superior Well Services
- United Oilfield Services
Key Topics Covered:
Chapter 1. Executive Summary
Chapter 2. Methodology and Scope
Chapter 3. Introduction
Chapter 4. Hydraulic Fracturing Market Trends: Drivers & Opportunities
Chapter 5. Hydraulic Fracturing Market, By Service type
Chapter 6. Hydraulic Fracturing Market Trends, By End-use
Chapter 7. Competitive Landscape
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