The shale gas hydraulic fracturing market in Canada, the United States and China experienced robust year-on-year (YoY) growth rate during 2021. While the total market volume across these countries totaled 28,866.50 units in 2021, it is projected to increase at 9.2% CAGR between 2021 and 2027, surpassing around 48,814.70 units by the end of 2027.
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This Week’s Market Buzz
• The hydraulic fracturing market through 2023 is expected to be tight. Horsepower and water demand are both projected to rise next year, and sand will likely continue to be an issue, according to Luke Smith, U.S. onshore analyst at Westwood Global Energy Group.
Read MoreEmerging Hydraulic Fracturing Innovations
Ian Palmer, writing in Forbes, recapped emerging technology potentially impacting hydraulic fracturing in the future.
Read MoreSome Hydraulic Fracturing Crews Returning to Work
According to the Houston Chronicle, the number of hydraulic fracturing crews returning to work inched upward in July with the Permian Basin of West Texas and southeastern New Mexico accounting for most of the growth.
Read MoreWater Management for Hydraulic Fracturing Forecasts Top $174 Billion
Water management investment for hydraulic fracturing is forecasted to average $17 billion per year from 2019 through 2028, according to new market forecasts from Bluefield Research. Emboldened by growing demand for scaling water supplies and disposal needs, a host of midstream water companies backed by private equity and sovereign wealth funds are positioned to seize the opportunity going forward.
Read MoreIs Electric Hydraulic Fracturing the Future?
Evolution Well Services announced the execution of a 30-month agreement to provide dedicated electric hydraulic fracturing services for a leading onshore oil and gas producer.
Read MoreWill Hydraulic Fracturing Operations Go Electric?
According to a report on Bloomberg, oil and gas drillers are considering e-fracking: using gas from their own wells to run turbines for electric motors that power drilling pumps.
Read MoreThis Week’s Market Buzz
• Mammoth Energy Services has agreed to acquire frac sand mining company Taylor Frac and two oilfield service businesses for issuance of 7 million common shares. Based upon Mammoth Energy Services’ March 20 closing price of $19.06/share, the value of the transaction is $133.8 million, including the assumption of $7.3 million in debt. Mammoth Energy Services said it plans to…
Read MoreFrac Sand Market Projected to Expand
According to the study “World Industrial Silica Sand Market” by the Freedonia Group, although the hydraulic fracturing industry has struggled for the past year or so, it will remain the fastest growing market for silica sand on a global basis through 2020. Given silica sand’s importance in industrial applications, however, there are other stories about the mineral that are worth…
Read MoreEPA Claims Hydraulic Fracturing Impacts Drinking Water
The U.S. Environmental Protection Agency (EPA) released its scientific report on the impacts from hydraulic fracturing activities on drinking water resources, which provides states and others the scientific foundation to better protect drinking water resources in areas where hydraulic fracturing is occurring or being considered. The report, done at the request of Congress, provides scientific evidence that hydraulic fracturing activities…
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