Fracking Fluid End Market to Reach $734.7 Million by 2028, Forecast Reveals Industry Dynamics & Growth Analysis
Dublin, Feb. 02, 2024 (GLOBE NEWSWIRE) -- The "Global Fracking Fluid End Market Size, Share, Trend, Dynamics, Forecast, & Growth Analysis- 2023-2028" report has been added to * ResearchAndMarkets.com's* offering.
The latest industry report on the Fracking Fluid End Market offers an extensive analysis of key growth strategies, drivers, opportunities, key segments, Porter’s Five Forces analysis, and competitive landscape. This study is a helpful source of information for market players, investors, VPs, stakeholders, and new entrants to gain a thorough understanding of the industry and determine steps to be taken to gain a competitive advantage.
The report discloses that the global Fracking Fluid End Market is set to expand at a promising Compound Annual Growth Rate (CAGR) of 4.2% to reach $734.7 Million by 2028. The robust growth of the market is attributed to increasing hydraulic fracturing activities propelled by the rising demand for oil and gas. Frac pumps are critical for transmitting fracking fluid into wellbores, and their fluid end components are vital for high-pressure injections during this process.
According to the report, stainless steel fluid ends are expected to maintain a dominant position in the market owing to their corrosion-resistant properties and extended lifespans compared to carbon steel fluid ends. This segment's growth is boosted by the always increasing efforts to maximize the efficiency of fracking operations.
*Regional Outlook Demonstrates Market Evolution*
The North American region, with its abundant technically recoverable shale oil & gas reserves, is anticipated to remain the largest market throughout the forecast period. The increase in hydraulic frac stages is contributing to heightened demand for higher hydraulic pressure (HHP) at well sites, fueling the growth of the fluid ends market in this region. Concurrently, the Asia-Pacific market, particularly in China, is forecasted to witness the highest growth due to escalating investments in oil & gas exploration and production.
The report also identifies key market players, including GD Energy Products, LLC, Caterpillar, Inc., TechnipFMC plc, Kerr Pumps, and Forum Energy Technologies, Inc. These companies are head-to-head in competition based on product offerings, pricing, and regional presence, further intensifying the market landscape
The valuable insights provided by the research are crucial for industry stakeholders to formulate business strategies and adapt to the evolving market demands. This comprehensive analysis serves as a testament to the market's resilience in the face of previous challenges such as the price war between Russia and Saudi Arabia and the global COVID-19 pandemic, and its capacity for recovery.
*Segment Analysis Highlights Leading Trends*
· Market segmentation by Material Type sheds light on the carbon steel and stainless steel categories, with stainless steel predicted to grow at a higher rate.
· By End-User Type, the Aftermarket segment commands the market due to the frequent replacement requirements of fluid ends.
· Examining the market by Horsepower Type, the 2000-2500 HP segment leads the market, but higher horsepower pumps over 2500 HP are gaining traction for their efficiency and lifecycle benefits.
*Companies Mentioned*
· Caterpillar Inc.
· Dragon Products Ltd.
· Forum Energy Technologies, Inc.
· GD Energy Products, LLC
· Halliburton
· Kerr Pumps
· ST9 Gas + Oil
· TechnipFMC plc
· VP Sales & Manufacturing
· VULCAN Industrial Holdings
For more information about this report visit https://www.researchandmarkets.com/r/x866bj
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