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Frac Services Market USD 2.70 Billion: COVID-19 Focused Report|Evolving Opportunities with Baker Hughes Co. and Schlumberger Ltd. | Technavio

·4 min read

NEW YORK, June 3, 2021 /PRNewswire/ --

Technavio has announced its latest market research report titled Frac Services Market by Application and Geography - Forecast and Analysis 2021-2025
Technavio has announced its latest market research report titled Frac Services Market by Application and Geography - Forecast and Analysis 2021-2025

The frac services market is expected to grow by USD 2.70 billion during 2021-2025, according to Technavio. The report offers a detailed analysis of the impact of the COVID-19 pandemic on the frac services market in optimistic, probable, and pessimistic forecast scenarios.

Technavio's in-depth market research reports include value chain analysis and validation techniques to help industry leaders improve their business.
Download Free Sample Report

The frac services market will witness a negative impact during the forecast period owing to the widespread growth of the COVID-19 pandemic. As per Technavio's pandemic-focused market research, market growth is likely to increase in 2021 as compared to 2020.

Market Segmentation by Application:

Based on the segmentation by application, the market generated maximum revenue in the onshore segment in 2020. The increase in shale oil and gas production activities will increase the demand for the frac services market. The growth of the segment will be significant over the forecast period.

Market Segmentation by Geography:

North America held the largest market share of 45% in 2020 and the market growth in the region is expected to be slower compared to the growth of the market in other regions. The growth of the market in North America can be attributed to the increase in E&P of crude oil and gas resources over the forecast period. The US and Canada are the key markets for frac services market in North America.

Get more insights about the global trends impacting the future of the market,

Buy Technavio's Research Methodology Analysis Report

Major Three Frac Services Market Participants:

Baker Hughes Co.

Baker Hughes Co. offers fracturing services for applications such as low to ultra-high temperatures, slickwater, crosslinked, and aqueous-based.

Calfrac Well Services Ltd.

Calfrac Well Services Ltd. offers horizontal and vertical hydraulic fracturing services.

Schlumberger Ltd.

Schlumberger Ltd. offers a fracturing service that helps in efficiently managing fluid delivery from the manifold to the wellhead.

Know more about Techanavio's analysis on the impact of Disruption Threats comparing Disruptive sources and Factors driving disruption,
https://www.technavio.com/talk-to-us?report=IRTNTR43916

Key market dynamics:

Market Drivers:

  • Rising investments in shale oil and gas

  • Increasing focus on unconventional oil and gas E&P activities

  • Increasing upstream investment

Market Challenges:

  • Increasing investments in renewable energy

  • Environmental concerns associated with the hydraulic fracturing process

  • Volatility in oil and gas prices

Frac Services Market 2021-2025: Key Highlights

  • CAGR of the market during the forecast period 2021-2025

  • Detailed information on factors that will assist frac services market growth during the next five years

  • Estimation of the frac services market size and its contribution to the parent market

  • Predictions on upcoming trends and changes in consumer behavior

  • The growth of the frac services market

  • Analysis of the market's competitive landscape and detailed information on vendors

  • Comprehensive details of factors that will challenge the growth of frac services market vendors

Related Report on Energy Include:

Global Subsea Manifolds Market- The subsea manifolds market is segmented by application (production and injection) and geography (Europe, APAC, North America, MEA, and South America).
Download FREE Sample Report

Global Offshore Drilling Market- The offshore drilling market is segmented by application (shallow water, deepwater, and ultra-deepwater) and geography (North America, APAC, Europe, MEA, and South America).
Download FREE Sample Report

Available Customization

Along with the market data, Technavio offers customizations as per the specific needs of the companies. The following customization options are available for the frac services market report:

  • Further breakdown of the market segmentation in requested regions.

  • Detailed analysis and profiling of additional market players, vendor segmentation, and vendor offerings

About Us
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contact
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/
Report Page: https://www.technavio.com/report/frac-services-market-industry-analysis

Technavio (PRNewsfoto/Technavio)
Technavio (PRNewsfoto/Technavio)
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SOURCE Technavio

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