Pressure Pumping Market Share

On the basis of geographical analysis, the pressure pumping market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. The market in the Middle East and Africa industry is set to hold largest revenue share by 2036, 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.