Pressure Pumping Service Market to Witness Growth by a CAGR
of ~3% throughout 2022 – 2030
Research Nester published a report titled “Pressure Pumping Service
Market: Global Demand Analysis & Opportunity Outlook
2030” which delivers detailed overview of the global pressure pumping
service market in terms of market segmentation by technology, type,
application, and by region.
Further, for the in-depth analysis, the report encompasses the industry
growth indicators, restraints, supply and demand risk, along with detailed
discussion on current and future market trends that are associated with the
growth of the market.
The global pressure pumping service market is anticipated to attain a CAGR
of ~3% over the forecast period, i.e., 2022 – 2030. The market is
segmented on the basis of technology, into hydraulic fracturing, cementing,
and others, out of which, the hydraulic fracturing segment is anticipated to
hold the largest share in the market over the forecast period owing to the
increasing acceptance of hydraulic fracturing or fracking, backed by higher
access to gas and oil using this technique. Moreover, it is lower in cost, and
provides employment to more individual, which is why, this technology is
widely practiced across the globe.
The global pressure pumping service market is foreseen to witness growth
on the back of increasing demand for oil, coupled with increasing
investment in the sector. According to the data by the International Energy
Agency (IEA), the global demand for oil and natural gas touched 4070
million tons in 2020. Pressure pumping has various benefits, such as,
increased production amount, enhanced drainage capacity, and others. The
growing demand for this method for oil drilling amongst the end-users, is
estimated to increase the demand for the pressure pumping service.
Moreover, emergence of various oil well service companies is estimated to
boost the market growth.
Download Sample of This Strategic Report @ https://www.researchnester.com/sample-