PUBLISHER: Global Market Insights Inc. | PRODUCT CODE: 1666616
PUBLISHER: Global Market Insights Inc. | PRODUCT CODE: 1666616
The Global Hydraulic Fracturing Market was valued at USD 40.6 billion in 2024 and is projected to grow at a CAGR of 7.4% from 2025 to 2034. The rising energy demand across various sectors, including industrial and commercial operations, is driving the market's expansion. In addition, there is a growing emphasis on tapping into unconventional oil and gas resources, such as shale gas formations, coal bed methane, and tight oil reserves. These resources require advanced hydraulic fracturing technologies to ensure efficient extraction, further fueling market growth. Continuous advancements in drilling and extraction technologies, coupled with the development of new extraction sites and optimizing existing wells, are playing a key role in meeting the global energy demand.
As hydraulic fracturing techniques evolve, technological innovations are enhancing operational efficiency. Companies in the oil and gas sector are increasingly adopting state-of-the-art methods for extracting hydrocarbons from unconventional reservoirs. The rise in demand for natural gas and oil, especially in areas with tight oil and shale gas formations, is expected to boost the market. Additionally, rising investments in research and development of hydraulic fracturing technologies, infrastructure development, and a stronger focus on energy independence are contributing to the market's optimistic outlook.
Market Scope | |
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Start Year | 2024 |
Forecast Year | 2025-2034 |
Start Value |