spwm hexarsrchHexa Research predicts the U.S. hydraulic-fracturing market will reach $13.91 billion by 2025. This is due to the rise in oil and gas exploration and extraction activities in the country. The demand for primary energy resources is increasing because of population and industrialization growth. To meet these demands and ensure the continuous supply of natural resources in the country, the market for unconventional techniques such as hydraulic fracturing is expected to grow over the forecast period. This technology was first employed in in the U.S. in 1947 and has been constantly upgraded since then. In 2015, around 67 percent of natural gas was produced from hydraulically fractured wells in the country.

Other factors for the hike are recent developments and innovations such as using hydraulic fracturing in combination with horizontal drilling during shale formations. This has revealed new sources for huge amount of natural-gas supplies. This technology was first used around the year 2000 after which it was continuously being used in the oil and gas production and extraction processes.

In 2015, the production of oil from hydraulically fractured reservoirs accounted for more than 50 percent of the total oil production and the gas production accounted for around 70 percent of the total gas production in the country. This combination technology of directional drilling and hydraulic fracturing allows the oil and gas reservoirs to be punctured directionally or horizontally alongside the foundation of targeted rocks, giving exposure to the rock formation bearing oil and gas in the production well. This is expected to drive the growth for this market over the forecast period.

The hydraulic-fracturing segment dominated the market in 2017 and is expected to maintain its dominant position over the forecast period owing to the use of hydraulic fracturing and horizontal drilling activities in conventional and unconventional reservoirs. The oil and gas industry recently has been experiencing a decline in the production rates from the present conventional reservoirs.

The market for hydraulic fracturing is fragmented and competitive in nature. There are several players in the market delivering services in the U.S., and the competition is expected to grow over the forecast period.