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North America Pressure Pumping Market


Energy & Power
Drilling Services

The global North American pressure pumping market is projected to grow at a CAGR of 2.6% from 2016 to 2021, to reach a market size of USD 29.94 Billion by 2021. This growth is attributed to exploration and shale plays in the U.S. & Canada and scheduled auction of shale fields in Mexico in 2017.

The report segments the North American pressure pumping market on the basis of service type into hydraulic fracturing, well cementing, and other services. The widely used service in the North American pressure pumping market. Production from hydraulically fractured wells, now makes up about two-thirds of the total U.S. marketed gas production. This share of production is even greater than the share of crude oil produced using that method, where hydraulic fracturing accounts for about half of the current U.S. crude oil production.

The North American pressure pumping market is segmented based on well type into horizontal and vertical wells. The horizontal wells segment accounted for the largest market share in 2015 and is expected to grow at the highest CAGR during the forecast period. Increasing hydraulic fracturing activity in the U.S. is expected to propel the demand for pressure pumping in horizontal wells in North America during the forecast period.

The report segments the North American pressure pumping market based on resource type into conventional and unconventional wells. Unconventional wells accounted for the largest market share in 2015, due to abundance of unconventional wells in North America.  About 52% of the total U.S. crude oil production in 2015 was from unconventional wells mainly from shale. The unconventional wells segment is also expected to grow at the fastest rate during the forecast period, owing to increasing demand for hydraulic fracturing in the U.S. This segment is expected to create new revenue pockets for the North American pressure pumping market during the forecast period.

In this report, the North American pressure pumping market has been analyzed with respect to three countries, namely, the U.S., Canada, and Mexico. The U.S. is expected to dominate the North American pressure pumping market during the forecast period, owing to increasing hydraulic fracturing in the country. The Mexican pressure pumping market is projected to grow at the highest CAGR from 2016 to 2021, due to the presence of large untapped reserves in the country that are expected to be auctioned in the year 2017.

North America Pressure Pumping Market

Declining oil prices globally could be a restraint for the North American pressure pumping market. Also, increasing public opposition to hydraulic fracturing and environmental concerns regarding effects of hydraulic fracturing could also hamper the pressure pumping market.

Leading players in the North American pressure pumping market include Schlumberger (U.S.), Halliburton (U.S.), Baker Hughes (U.S.), and Weatherford (Switzerland). New product launch was the strategy most commonly adopted by top players in the market from 2013 to 2016. It was followed by expansion.

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