The fracking fluid end market is likely to rise at a CAGR of 4.2% during 2023-2028, to reach US$ 734.7 million in 2028, states Stratview Research.
DETROIT, Dec. 15, 2023 /PRNewswire/ -- Stratview Research, a global market research firm has launched a report on the global fracking fluid end market which provides a comprehensive analysis of the global and regional industry forecast, current & emerging trends, segment analysis, and competitive landscape.
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Report Highlights
Market Size in 2028 | USD 734.7 million |
Growth (CAGR) | 4.2% during 2023-2028 |
Forecast Period | 2023-2028 |
Trend Period | 2017-2021 |
Base Year | 2022 |
Number of Segments Covered | 5 |
Number of Tables & Graphs | 70+ |
Country-Level Market Assessment | 20 |
Segment Insights on the Fracking Fluid End Market
The global fracking fluid end market is segmented based on material type, end-user type, design type, horsepower type, and region.
Based on the material type - The fracking fluid end market is segmented into carbon steel and stainless steel. Stainless steel is likely to maintain its dominance in the market during the forecast period and is also likely to grow at a higher rate during the same period in the wake of its corrosion-resistant property and longer pumping hours as compared to the carbon fluid end.
Based on the end-user type - The market is segmented into OE and aftermarket. Aftermarket not only governed the fracking fluid end market in 2022 but is also estimated to remain the fastest-growing end-user type during the forecast period. The lifespan of fluid ends gets shorter with the harsher fracking environment, a larger volume of proppant used, and rising pumping pressure resulting in increasing replacement of fluid ends in existing frac pumps. While the power end lasts for two years, fluid ends need to be replaced three to four times per year (approx.).
Based on the horsepower type - The market is segmented into 2000-2500 HP and above 2500 HP. In 2022, fluid ends compatible with frac pumps of horsepower between 2000-2500 held a major share of the market. The above 2500 horsepower segment is expected to grow at a higher rate during the forecast period, driven by the gradual shift in demand towards higher horsepower pumps to reduce the number of assets on the site while extending the parts' life. For example, 11 units of 5,000 HP fracking pumps can do the job of 20 units of 2,500 HP frac pumps.
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Which Region Offers the Best Opportunity and Growth?
The report suggests that North America is expected to remain the largest market for fracking fluid end during the forecast period. This growth is majorly attributed to the following -
- The presence of high technically recoverable reserves of shale oil & gas and the presence of major fluid end manufacturers in the region.
- The rise in the number of hydraulic frac stages in North America has resulted in a notable increase in high hydraulic pressure (HHP) requirements at well sites, subsequently driving the demand for fluid ends.
Likewise, Asia-Pacific is expected to witness the highest growth in the market during the forecast period, mainly driven by China. The country has increased its investments in the exploration and production of oil & natural gas, using the hydraulic fracking technique.
Fracking Fluid End Market Drivers
Some of the key drivers listed in the report are given below.
- Increasing oil demand is expected to lead to a surge in fracking activities, driving higher demand for fluid ends and propelling market growth alongside the rising number of frac stages in North America.
- A recovery in oil prices.
- Growing global oil demand.
- The upward trend in rig counts.
- An increase in the number of frac stages.
- Increase in the share of horizontally drilled wells.
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Top 5 Companies in the Fracking Fluid End Market?
The market is fairly consolidated with the presence of a handful of regional and global players. Most of the major players compete on some of the governing factors including price, product offerings, regional presence, etc. The following are the key players in the fracking fluid end market.
- GD Energy Products, LLC
- Caterpillar, Inc.
- TechnipFMC plc
- Kerr Pumps
- Forum Energy Technologies, Inc.
What Deliverables Will You Get in this Report?
Key questions this report answers | Relevant contents in the report |
How big is the sales opportunity? | In-depth analysis of the Fracking Fluid End Market |
How lucrative is the future? | Market forecast and trend data and emerging trends |
Which regions offer the best sales opportunities? | Global, regional, and country-level historical data and forecasts |
Which are the most attractive market segments? | Market segment analysis and forecast |
Which are the top players and their market positioning? | Competitive landscape analysis, Market share analysis |
How complex is the business environment? | Porter's five forces analysis, PEST analysis, Life cycle analysis |
What are the factors affecting the market? | Drivers & challenges |
Will I get the information on my specific requirements? | 10% free customization |
Related reports which might be useful:
- Dissolvable Frac Plugs Market
- Composite Frac Plugs and Balls Market
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