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Pressure pumping is the pumps that are used for various purposes like well completion, well stimulation, well intervention and others. They play a major role in the oil and gas industry as these are one of the important equipment required during the lifecycle of a well. They maintain a very high pressure of the discharged fluids which ensures creation of cracks in the deep and hard rock formation, which ensures the escape route for the trapped hydrocarbons.
The fluid which is pumped using the pressure pumping is made up of water, sand and chemical additives, which are different for each well depending upon the formation. The major application of pressure pumps is hydraulic fracturing and well-cementing operations. With the increase in the exploration activities the global pressure pumping market will grow at a good rate during the given forecast period.
Based on the service type the global pressure pumping market can be segmented into hydraulic fracturing and well cementing. The hydraulic fracturing segment will hold a dominant position in the given forecast period owing to the increased horizontal wells across the globe. Based on well type, the global pressure pumping market can be segmented into horizontal and vertical wells. Globally, the number of horizontal wells drilled in recent years has increased which will see the horizontal wells dominate the global pressure pumping market.
Key Market Driver -
Key Market Driver – Increased adoption of hydraulic fracturing for wells.
Key Market Restraint -
Key Market Restraint – Environmental considerations regarding use of techniques requiring pressure pumping.
The major market driver for the global pressure pumping market is the increased adoption of the hydraulic fracturing technique in oil and gas exploration. The hydraulic fracturing has increased owing to the switch from vertical wells to horizontal wells, which save cost and are considered economical in operation over vertical wells.
Key market restraint for the global pressure pumping market is the negative impact on the environment caused by the processes which involve the use of pressure pumping. The negative effects include seismic disturbance and groundwater contamination.
Some of the notable companies in the global pressure pumping market are LEWA GmbH, KAMAT GmbH & Co. KG, SPP PUMPS, Sam Pumps, Sulzer, Schlumberger, Baker Hughes, a GE company, Halliburton, Danfoss, National Oilwell Varco, Flowserve Corporation, KSB Limited, ITT Inc., and Maximator GmbH.
The global pressure pumping market has been segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The increased adoption of the hydraulic fracturing and increased exploration activities for the unconventional gas has seen the North America region dominate the global pressure pumping market. The US has been the dominating country in the region and over the globe. The advantages provided by the horizontal wells have also been the major reason which has seen increased adoption of horizontal wells and, eventually, pressure pumping.
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After North America the Asia Pacific and Europe region stand as the major regions which hold the opportunity for the growth of the global pressure pumping market owing to increased energy demand. Middle East & Africa and Latin America regions have also shifted towards the horizontal wells and hydraulic fracturing which will enhance the growth of the pressure pumping market in the regions.
By Service Type
By Well Type
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