Frac Stack Market size to grow by USD 9,506.94 million from 2022 to 2027; Increasing demand for unconventional oil and natural gas resources boost the market growth

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10 Aug, 2023, 18:45 ET

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NEW YORK, Aug. 10, 2023 /PRNewswire/ -- The frac stack market size is set to grow by USD 9,506.94 million from 2022 to 2027. The market is estimated to be progressing at a CAGR of 5.01% during the forecast period. The report offers an up-to-date analysis regarding the current global market scenario, the latest trends and drivers, and the overall market environment. The market is driven by the increasing demand for unconventional oil and gas resources. Unconventional oil and gas resources refer to the oil and gas resources present in shale and tight formations and oil sands. There is an increasing tendency for unconventional hydrocarbon resources to make their natural pressure flow faster in comparison to conventional hydrocarbon resources. Additionally, there is a growing demand for the use of various techniques to enhance the production rate. Factors such as the rising popularity of unconventional energy sources over the past years, coupled with their excess availability in many countries including the US, Canada, China, and Argentina drive the market growth-Here is an Exclusive report talking about Market scenarios with a historical period (2017-2021) and forecast period (2023-2027). Download Sample Report in minutes!

The frac stack market covers the following areas:

Frac Stack Market SizingFrac Stack Market ForecastFrac Stack Market Analysis

The report on the frac stack market provides a holistic update, market size and forecast, trends, growth drivers, and challenges, as well as vendor analysis.

Frac Stack Market 2023-2027 - Market Dynamics

Significant trends influencing the market growth

The increasing demand for the adoption of green fracking methods is an emerging trend in the market. There is increasing adoption of green fracking methods by various energy technology providers to minimize the negative impact of fracking on the environment. Furthermore, several market players are utilizing environmentally friendly fracking methods, including recycled water or brine pumped from underground instead of freshwater for fracturing. These fracking methods are used to minimize environmental hazards. Hence, such factors are expected to drive market growth during the forecast period.

Major challenges hindering the market growth

Increasing environmental concerns regarding the hydraulic fracturing processes is a significant challenge hindering market growth. There is growing concern regarding several environmental issues associated with the hydraulic process including the threat of methane leaks and water pollution and large quantities of water used during hydraulic fracturing. For example, the hydraulic fracturing process also contaminates underground water reserves due to the injection of chemicals into the shale oil reservoir during fracturing. Hence, such factors can impede the market growth during the forecast period.

Frac Stack Market 2023-2027: Market Segmentation

This report extensively covers market segmentation by deployment (onshore and offshore), type (horizontal, deviated, and vertical), and geography (North America, Europe, APAC, South America, Middle East, and Africa).

The market share growth in the onshore segment will be significant during the forecast period. One of the main factors which is significantly fuelling the growth of this segment is the lower operating cost of onshore exploration and production operations when compared to the offshore segment. There is a rising demand for onshore E&P projects to gain profit margins as offshore operations needs advanced technologies and equipment such as a frac stack. For Instance, all the leading unconventional oil and gas producing countries, and unconventional resources, including the dominant shale plays in the US, Vaca Muerta plays in Argentina, and oil sands in Canada, are located and extracted onshore. Hence, such factors are expected to fuel the growth of this segment which in turn will fuel the market growth during the forecast period.

This report presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources through an analysis of key parameters- View Sample ReportCompanies Mentioned

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Frac Stack Market Scope

Report Coverage

Details

Base year

2022

Historic period

2017-2021

Forecast period

2023-2027

Growth momentum & CAGR

Accelerate at a CAGR of 5.01%

Market growth 2023-2027

USD 9,506.94 million

Market structure

Fragmented

YoY growth 2022-2023(%)

3.77

Regional analysis

North America, Europe, APAC, South America, and Middle East and Africa

Performing market contribution

North America at 32%

Key countries

US, Canada, China, Australia, and Argentina

Competitive landscape

Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks

Key companies profiled

AWC Frac Technology, Baker Hughes Co., Calfrac Well Services Ltd., Caterpillar Inc., CCSC Petroleum Equipment Co. Ltd., Covenant Testing Technologies LLC, Halliburton Co., Jiangsu Hongxun Oil Equipment Co. Ltd., KLX Energy Services Holdings Inc., Moto Mechanics Argentina SA, Oil States International Inc., REIN PROCESS EQUIPMENT JIANGSU CO. LTD., Schlumberger Ltd., SHAANXI KERGY MECHANICAL EQUIPMENT CO. LTD., Sunnda Corp., Trican Well Service Ltd., Universal Wellhead Services Holdings LLC, Worldwide Oilfield Machine Inc., Yancheng Qihang Petroleum Machinery Co. Ltd., and Yantai Jereh Oilfield Services Group Co. Ltd.

Market dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period.

Customization purview

If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

Table of Contents

1 Executive Summary

2 Market Landscape

3 Market Sizing

4 Historic Market Size

5 Five Forces Analysis

6 Market Segmentation by Deployment

7 Market Segmentation by Type

8 Customer Landscape

9 Geographic Landscape

10 Drivers, Challenges, and Trends

11 Vendor Landscape

12 Vendor Analysis

13 Appendix

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