Global,Hydraulic,Fracturing,Ma business, insurance Global Hydraulic Fracturing Market outlook: Escalating crude
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“Worldwide hydraulic fracturing market is projected to surpass a revenue of USD 68 billion by 2024.” According to the Global Market Insights, Inc.,Increasing demand for crude oil will provide a major push to the already booming hydraulic fracturing market share over the coming seven years. Escalating industrialization and urbanization along with the abundance of the unconventional resources such as tight gas & oil, shale gas & liquids will be some of the pivotal factors generating heavy growth opportunities for hydraulic fracturing industry over the next few years.Hydraulic fracturing market finds major application across areas such as shale gas, crude oil, tight oil, and tight gas. Hydraulic fracturing industry share in shale gas applications will reach a revenue of over USD 15 billion by 2024, owing to the rising demand from power plant industries for natural gas for a better fuel efficiency. The growing awareness along with strict governmental rules & regulations regarding carbon emission will fuel the demand for natural gas.Request for a sample of this research report @ https://www.fractovia.org/request-sample/303 Crude oil contributed towards 14% of the global hydraulic fracturing industry share in 2015 and is anticipated to collect a noticeable revenue over the coming timeframe. The growing automobile and manufacturing sector will boost the demand for crude oil, which will impact hydraulic fracturing market size lucratively. Sliding sleeve and plug-and-perforation are the key technologies of the hydraulic fracturing market. Sliding sleeve technology will collect considerable revenue by 2024, due to its increasing applications in open hole wells. Plug and perforation technology accounted for more than 70% of the global industry share in 2015 and is expected to register a lucrative growth rate over the coming years. The escalating need for this technology for fracturing in the horizontal well will augment the industry growth. Make an inquiry for purchasing this report @ https://www.gminsights.com/inquiry-before-buying/303 Based on the drilling direction, horizontal and vertical are the two main types of the well. Horizontal well hydraulic fracturing industry is poised to register a CAGR of over 13% over the period of 2016 to 2024, owing to its extensive application across the oil & gas industries. In addition, around 77% of the wells were drilled horizontally across the U.S. in 2015.Taking into account hydraulic fracturing market regional landscape, China accounted for 45% of the regional market share in 2015 and will grow substantially over the coming timeframe, driven by the ample availability of the unconventional resources.
Global,Hydraulic,Fracturing,Ma