Pressure Pumping Market Information By Service Type (Hydraulic Fracturing, Cementing, and Others), By Resource Type (Conventional and Unconventional), By Well Type (Horizontal, Vertical, and Directional), and By Region (North America, Europe, Asia-Pacific, and the Rest of the World)—Forecast till 2030

Global Pressure Pumping Market Research (MRFR Insights)

The pressure pumping market is projected to register a CAGR of 4.40% from 2022 to 2030. The rising use of hydraulic fracturing technology in oil and gas exploration is the main key driver for the market. Due to cost savings and the perception that horizontal wells are cheaper to operate than vertical wells, hydraulic fracturing has expanded. The pressure pumping market size is expected to reach approximately USD 73,756.70 million by 2030. Moreover, the strong demand for pressure pumping over the forecast period is due to rapid industrialization, which has increased the oil demand. In addition, efforts undertaken by various regional governments to reduce dependence on oil imports and boost indigenous oil production are anticipated to provide tremendous upthrust to the overall market.

COVID-19 Impact Analysis

The COVID-19 pandemic has shut down the production and sales of various products in the pressure pumps industry, mainly owing to the prolonged lockdown in major  countries, including the US, Italy, the UK, and others. This hampered the growth of the pressure-pumping market during the pandemic.

Pressure Pumping Market Dynamics

The market is witnessing tremendous growth due to rapid industrialization resulting in increasing energy demand. In addition, the growing exploration activities in the oil & gas, and mining industry and technological advancements are propelling the market's growth. Moreover, the enhanced recovery rates and productivity of reservoirs are other factors imposing a positive outlook on the market growth. However, the imposition of stringent government regulations and contamination concerns regarding hydraulic fracturing hampering the market's growth. However, the growth of service sectors, urbanization, and migration throughout the globe provide difficulties to the worldwide market since a sizable portion of the world's population, mostly in emerging nations, needs access to sophisticated versions.

Market Drivers

• Increasing usage of pressure pumps in wastewater treatment plants

Reusing wastewater is important in solving water scarcity and addressing rising water demands. In wastewater treatment plants, pressure pumps are commonly employed to process used water. These pressure pumps increase impeller velocity using spinning impellers, which force fluids through outlet valves. As a result, it is projected that the market for pressure pumping will expand as more wastewater treatment facilities are built worldwide. Thus, the market is estimated to increase with the development of new water and wastewater plants' growth.

Market Restraints:

• High installation costs and environmental concerns

High installation costs associated with pressure pumping systems and services are expected to be a major factor restraining market growth. Environmental hazards caused by hydraulic fracturing are key factors restraining market growth. Rising concerns related to water contamination due to surface spills of hydraulic fracturing fluids or wastewater can impact health, which is projected to further hampers market growth to a certain extent over the forecast period. Other factors such as air emissions, increasing consumption of water, risk of earthquakes, and adverse effects on human health are projected to impede market growth to a certain extent during the forecast period.

Market Opportunities:

• Increasing use of exploration and production activities across the globe

Increasing demand for energy due to rapid industrialization across the globe has led to an increase in exploration and production activities. The increasing application of hydraulic fracturing in the oil & gas industry and the rapid expenditure shift towards oil drilling activities have resulted in the rising adoption of pressure pumping services and devices. Pressure pumping devices are extensively used in maturing oil reservoirs where oil extraction is highly complicated. An increasing number of drilling operations to extract oil and gas to cater to rising demand has boosted the development of advanced drilling technologies and enhanced oil recovery. This is expected to drive market growth over the forecast period.

Pressure Pumping Market Segmentation

Service Type Insights

The pressure pumping market segmentation, based on service type, is hydraulic fracturing, cementing, and others. The pressure pumping market growth was prominently high under the cementing category in 2021. Consistent demand for drilling activities in the US and stable oil prices is projected to keep the demand for cementing services strong over the forecast period. However, hydraulic fracturing is to be the fastest-growing category due to the growing adoption of hydraulic fracturing in several regions.

Resource Type Insights

The pressure pumping market segmentation, based on the resource type, is conventional and unconventional. In 2021, unconventional accounted for the largest market share of the market. The utilization of unconventional resources is being witnessed across the globe, especially in North America. However, the conventional category is estimated to register the highest growth rate over the forecast period due to the growing usage of pressure pumping primarily to drag resources from low permeability reservoirs.

Well Type Insights

Based on well type, the market for pressure pumping is divided into horizontal, vertical, and directional. The horizontal category dominated the market for pressure pumping in 2021 due to increasing productivity, technological advancements, and the advantages of horizontal wells. The directional category is to witness significant growth owing to its large and varied use case and is expected to continue the trend in the forecast period.

Global Pressure Pumping Market Share, by Region, 2021 (%)

Pressure Pumping Market Overview by Region

By region, the pressure pumping market has been divided into North America, Europe, Asia-Pacific, and the Rest of the World. North America accounted for the most extensive market share. Asia-Pacific will exhibit the highest CAGR during the forecast period.

North America

North America dominated the market share in 2021. The market in the region is witnessing enhancement with new construction orders, and companies here are offered lucrative opportunities to increase their production capacity and, in turn, stimulate market growth. The rising growth of new oil & gas, mining, chemical, automotive, and other industrial plants is inclining the market for pressure pumps in the region. For instance, Michigan Sugar Company, a company that processes sugar, is to spend US$65 million improving its processing facility in Monitor Township, Michigan. The spring of 2023 is when construction is expected to be finished, having started in 2021. Similarly, Tyson Foods intends to invest $300 million in constructing a 325,000-square-foot processing facility in Danville, Virginia. It will be finished in the spring of 2023. As a result, it is anticipated that throughout the projection period, demand for pressure pumping in the region will increase due to increased investments in new food & beverage plant expansion.

Asia-Pacific

Asia-Pacific accounted for the second-largest market share in the market in pressure pumping in 2021, owing to various initiatives undertaken by research institutes to arrange conferences for educating individuals and spreading awareness regarding well-type technologies in the region. Moreover, the number of wells drilled in the region witnessed a significant boost in the market.  

Pressure Pumping Market Competitive Landscape

The market includes tier-1, tier-2, and local players. The tier-1 and tier-2 players have reach with diverse product portfolios. Companies such as Trican, RPC Inc, Key Energy Services, Sanjel Corporation, Calfrac Well Services Ltd, and Frac Tech Services International dominate the market for pressure pumping due to product differentiation, financial stability, strategic developments, and diversified regional presence. The players are concentrating on supporting research and development. Furthermore, they embrace strategic growth initiatives, such as development, joint ventures, product introduction, and partnerships, to strengthen their market position and capture an extensive customer base. For instance, in August 2021, NexTier Oilfield Solutions Inc. declared the successful completion of its previously announced acquisition of pressure pumping operations of Alamo Pressure Pumping, LLC, fueling its position as a leading Permian provider of low carbon well completion solutions.

Prominent players in the pressure pumping market research include Trican, RPC Inc, Key Energy Services, Sanjel Corporation, Calfrac Well Services Ltd, Frac Tech Services International, China Oilfield Services Ltd, Patterson-UTI Energy Inc, Saipem S.p.A, National Oilwell Varco, and Superior Energy Services among others.

Scope of the Pressure Pumping Market Report

Service Type Outlook

• Hydraulic Fracturing


• Cementing


• Others

Resource Type Outlook

• Conventional


• Unconventional

Well Type Outlook

• Horizontal


• Vertical


• Directional

Region Outlook

• 
  North America
  
  
  
  • US
  
  
  • Canada
  
  
  • Mexico
  
  
  
  


• 
  Europe
  
  
  
  • UK
  
  
  • Germany
  
  
  • France
  
  
  • Italy
  
  
  • Spain
  
  
  • Rest of Europe
  
  
  
  


• 
  Asia-Pacific
  
  
  
  • China
  
  
  • India
  
  
  • Japan
  
  
  • Australia and New Zealand
  
  
  • Rest of Asia-Pacific
  
  
  
  


• 
  Rest of the World
  
  
  
  • South America
  
  
  • Middle East
  
  
  • Africa
  
  
  
  

Objectives of the Study

The objectives of the study are summarized in 5 stages. They are as mentioned below:

Pressure Pumping Market Forecast & Size:

To identify and estimate the market size for the pressure pumping market report segmented by service type, resource type, and well type by value (in US dollars). Also, to understand the consumption/ demand created by consumers in the pressure pumping market forecast between 2022 and 2030

Market Landscape and Trends:

To identify and infer the drivers, opportunities, restraints, and challenges in the pressure pumping market growth

Market Influencing Factors:

To find out the factors which are impacting the pressure pumping market size among consumers

Impact of COVID-19:

To identify and understand the several factors involved in the market affected by the pandemic

Company Profiling:

To provide a detailed insight into the major companies operating in the market. The profiling will include the company's financial health in the past 2-3 years with segmental and regional revenue breakup, recent developments, product offerings, SWOT analysis, and key strategies.

Intended Audience

• Pressure pumping manufacturer


• Pressure pumping contractors


• Pressure pumping suppliers


• Raw material suppliers


• Retailers, wholesalers, and distributors


• Governments, associations, and industrial bodies