Hydraulic Fracturing, also known as Fracking, Fraccing, Hydrofracking, Hydrofracturing is a stimulation technique used to extract oil and gas from shale rocks. A large volume of hydraulically mixed liquid made of water, sand and chemical additives, is pumped down the wellbore into the reservoir formations at high pressures. This process results in small fractures, allowing the oil and gas trapped in the rock to flow back to the surface. The hydraulic fluid pumped into the wellbore consists of small quantities of chemical additives (0.8%) and large quantities of water and sand (99.2%).

Hydraulic fracturing service cost varies from well to well, depending on the number of fracturing stages and the depth of wells. Further, the costs associated with procuring water and sand plays a major role in deciding the fracturing service cost per well in each region.

MARKET TRENDS:

The Global HydraulicFracturing Services Market is estimated to grow at a CAGR of 11% during the forecast period of 2015-2020.

Main drivers of this Market being:

•          Growing Exploration Activities in unconventional oil & gas resources.
•          Growing energy demand from major industries.
•          Future demand for Oil & Gas.

GEOGRAPHICAL ANALYSIS:

The U.S. and Canada are leading this market due to their high demand of oil & gas. Some other countries like Russia, Argentina, Australia and China are also expected to contribute to the future growth of the Fracking Market.

KEY MARKET PLAYERS:

Some of the major companies in the Hydraulic Fracturing Market are given below:

•          Halliburton Co.
•          Baker Hughes Inc.
•          FTS International Inc.
•          Superior Well Services

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