After falling from $43.4 billion in 2014 to $15.1 billion in 2016, global demand for hydraulic fracturing services rose 84% to $27.8 billion in 2017. This increase is in response to: the recovery in North American drilling, the trend toward longer laterals per well, and increased proppant consumption per foot. Frac service firms are now scrambling to add equipment and personnel to meet demand while also pushing prices higher and ordering new equipment.
With rising oil prices driving further gains in exploration and development activity, growth in the hydraulic fracturing services market is expected to continue over the near term as lateral length and completion “intensity” continue to increase.
The Hydraulic Fracturing Market Report is a quarterly report that tracks and forecasts the hydraulic fracturing market, focusing on commercial, technical, and activity trends in the North American basins which represent most of the global industry. This year's report profiles almost 40 companies in the frac supply chain, along with regional frac/acid/water/proppant demand, frac price changes and a count of each frac company’s available hydraulic horsepower in North America. The report is a useful planning and benchmarking tool for operators, oilfield service firms, OEMs and investors.