Global Market Size, Forecast, and Trend Highlights Over 2025-2037
Pressure Pumping Market size was over USD 88.59 billion in 2024 and is projected to reach USD 208.36 billion by 2037, witnessing around 6.8% CAGR during the forecast period i.e., between 2025-2037. In the year 2025, the industry size of pressure pumping is assessed at USD 93.71 billion.
The growth of the market can be attributed to the increasing investment in offshore production, along with rising demand for oil and gas worldwide. Moreover, the holistic evolution of technology for oil drilling is also estimated to boost the growth of the market.
Pressure pumping can enhance the reservoir drainage capacity, in turn, increasing the supply of oil or gas from the reserve. According to the data by the International Energy Agency (IEA), oil production touched 98.3 million barrel per day (MB/D), while natural gas production reached 3937 billion cubic meters (BCM) globally, in 2018. The growing demand for this technique amongst the producers of oil & gas, is estimated to boost the market growth. Furthermore, rising adoption of hydraulic fracturing for increasing the production of hydrocarbons, is estimated to promote the market growth. The rising gap between demand and supply of oil and gas, is also estimated to boost the market growth. As per a report by the IEA, 4,296 million tons oil and NGL was produced in 2020, while the demand touched 4070 million tons.
Pressure Pumping Sector: Growth Drivers and Challenges
Growth Drivers
- Increasing Demand for Oil and Other Petroleum Products
- Access to More Gas and Oil in this Technique
- Growing Investment in the Oil & Gas Sector
Challenges
- Growing Adoption of Green Energy
- Higher Expense of Offshore Production
Pressure Pumping Market: Key Insights
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Base Year |
2024 |
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Forecast Year |
2025-2037 |
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CAGR |
6.8% |
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Base Year Market Size (2024) |
USD 88.59 billion |
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Forecast Year Market Size (2037) |
USD 208.36 billion |
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Regional Scope |
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Pressure Pumping Segmentation
The pressure pumping market is segmented by technology into hydraulic fracturing, cementing, and others, out of which, the hydraulic fracturing segment is anticipated to hold the largest share in the market over the forecast period on account of advantages of hydraulic fracturing, such as, access to more quantity of gas and oil, lower cost, and reduced water intensity. Hydraulic fracturing is the most commonly applied technology for oil production, which is estimated to boost the market growth.
Our in-depth analysis of the global market includes the following segments:
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Types |
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Resources |
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Application |
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Customize this ReportPressure Pumping Industry - Regional Synopsis
Middle East and Africa industry is likely to account for largest revenue share by 2037, propelled by large oil reserves in the gulf countries, along with advancement in oil drilling technology., propelled by large oil reserves in the gulf countries, along with advancement in oil drilling technology. According to the Organization for Economic Co-operation and Development (OECD) data, 507,805.25 tons of oil equivalent (toe) was produced in Saudi Arabia in 2017.
The market in the North America region is anticipated to gain the largest market share throughout the forecast period owing to the increasing production of oil and gas in the region. According to the statistics by the U.S. Energy Information Administration (EIA), in 2020, U.S. petroleum consumption touched 18.12 million barrels per day.
Companies Dominating the Pressure Pumping Landscape
- C&J Energy Services
- Company Overview
- Business Strategy
- Key Product Offerings
- Financial Performance
- Key Performance Indicators
- Risk Analysis
- Recent Development
- Regional Presence
- SWOT Analysis
- Calfrac Well Services Ltd.
- Superior Energy Services, Inc.
- Schlumberger Limited
- Trican Well Service Ltd.
- Patterson-UTI Energy Inc.
- Baker Hughes Company
- Halliburton Company
- RPC, Inc.
- FTS International
In the News
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September 13, 2021: Trican Well Service Ltd. announced the renewal of its low-emission fracturing equipment, upgrading 48,000 hydraulic horsepower in the hydraulic fracturing fleet.
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June 08, 2021: NOV Inc. announced its joint venture with Schlumberger to accelerate the adoption of automated drilling solutions in the oil and gas industry.
Author Credits: Dhruv Bhatia
- Report ID: 3609
- Published Date: Dec 24, 2024
- Report Format: PDF, PPT
