프랙 펌프 시장 예측(-2030년) : 유형별, 정격 마력별, 용도별, 최종사용자별, 지역별 세계 분석

According to Stratistics MRC, the Global Frac Pumps Market is accounted for $543.86 million in 2023 and is expected to reach $828.63 million by 2030 growing at a CAGR of 6.2% during the forecast period. Frac pumps, also known as fracturing pumps, are essential to hydraulic fracturing operations in the oil and gas sector. These specialized pumps are made to produce high pressure and pump large amounts of fluid-usually water mixed with chemicals and sand-into subterranean rock formations. Moreover, hydrocarbons like oil and natural gas can be extracted from reservoir rocks thanks to the severe pressure that frac pumps create in the rock.

According to the American Petroleum Institute (API), advancements in drilling technology and the utilization of state-of-the-art frac pumps have been pivotal in enhancing the efficiency and productivity of hydraulic fracturing processes within the oil and gas industry.

Market Dynamics:

Driver:

Rising interest in non-conventional gas and oil resources

A shift towards unconventional oil and gas resources, like shale formations, has resulted from the growing demand for energy on a global scale. Hydrocarbons can be extracted from these unconventional reservoirs using hydraulic fracturing, and hydraulic pumps are essential to this process. Additionally, the need for durable frac pumps that can effectively handle high-pressure fluid injection is growing as exploration and production efforts shift their focus to unconventional sources, propelling the frac pump market's expansion.

Restraint:

Variable costs of gas and oil

One major obstacle facing the frac pump industry is the volatility of global oil and gas prices. Commodity prices have a significant impact on the economic feasibility of hydraulic fracturing projects. There is less of a need for frac pumps when prices are low because operators may scale back on production and exploration. Furthermore, the frac pump market's growth prospects may be impacted by market volatility and economic uncertainties that prevent investments in new drilling projects.

Opportunity:

Technological breakthroughs and sector advancements

Technological innovations that keep coming up create opportunities for the frac pump market. Pump manufacturers can become more competitive by focusing their research and development efforts on improving pump durability, efficiency, and environmental impact. Moreover, pump systems with automation, smart technologies, and advanced materials offer operators ways to stand out from the competition, increasing productivity and sustainability while creating new opportunities for creative frac pump applications.

Threat:

Alternative energy sources competition

The long-term need for conventional oil and gas extraction techniques, like hydraulic fracturing, is threatened by the growing use of alternative energy sources, such as electrification and renewable energy. Frac pumps may become less necessary as the world moves toward greener energy sources and the oil and gas sector experiences a decline in demand. Furthermore, growing competitiveness and ongoing developments in alternative technologies may present difficulties for the established hydrocarbon extraction industry.

Covid-19 Impact:

The global energy dynamics and oil and gas operations have been disrupted by the COVID-19 pandemic, which has had a significant effect on the frac pump market. Reduced demand due to lockdowns and travel restrictions, combined with the abrupt drop in oil prices, caused a contraction in exploration and production activities. The need for frac pumps was directly impacted by the cancellation or postponement of numerous oil and gas projects. Workforce constraints, economic uncertainty, and supply chain disruptions all added to the industry's problems. Additionally, the frac pump market saw a fall in investments, postponed projects, and an overall slowdown in its growth trajectory as the energy sector dealt with the financial fallout from the pandemic.

The Triplex Frac Pumps segment is expected to be the largest during the forecast period

The Triplex has the largest market share as these pumps are so reliable and effective, they are frequently used in hydraulic fracturing operations. With their three reciprocating plungers, these pumps offer a high-pressure fluid injection application that strikes a balance between dependability and power. Moreover, their dominance is explained by their capacity to produce high pressure, which is necessary for effectively fracturing subterranean rock formations. Due to their dependability, simplicity of maintenance and suitability for demanding oil and gas extraction environments, triplex frac pumps are the preferred choice.

The Oilfield Service Companies segment is expected to have the highest CAGR during the forecast period

The segment of the frac pump market with the highest CAGR is oilfield service companies. By offering a variety of services, including hydraulic fracturing operations, where frac pumps are essential components, oilfield service companies play a crucial role in the oil and gas industry. Oilfield service businesses have grown as a result of the rising demand for gas and oil as well as the expansion of unconventional resource exploration. Additionally, the need for sophisticated frac pumps is being driven by these businesses, which provide specific knowledge, tools, and labor for effective hydraulic fracturing.

Region with largest share:

Due to the strength of the oil and gas industry in both the United States and Canada, North America currently holds the largest share of the global market for frac pumps. Large-scale hydraulic fracturing operations have been concentrated in the area, especially in shale basins with high production like the Permian Basin, Bakken Formation, and Eagle Ford Shale. Furthermore, the need for frac pumps has increased due to the rise in unconventional resource production and exploration, as well as technological developments in hydraulic fracturing methods. North America's dominant position in the global frac pump market can be attributed to the notable surge in shale gas and tight oil extraction in the United States in particular.

Region with highest CAGR:

The Middle East and Africa (MEA) has the highest CAGR in the frac pump market. Because of the region's abundant conventional and unconventional hydrocarbon reserves, there has been a noticeable surge in oil and gas exploration and production activities in the MEA. To fully utilize their shale gas resources, nations like Saudi Arabia, the United Arab Emirates, Iraq, and Oman have been making significant investments in hydraulic fracturing technology. As a result, there is an increasing need for frac pumps in the area. Additionally, a number of domestic and foreign oil companies operate in the Middle East, making it a significant hub for the production of gas and oil.

Key players in the market

Some of the key players in Frac Pumps market include Forum Energy Technologies, Stewart & Stevenson, ValTek Industries, Caterpillar, Gardner Denver, Baker Hughes, Yukos Petroleum Equipment, SERVA (EnTrans International), Cornell Pump Company, Halliburton, KERUI Petroleum and ShalePumps.

Key Developments:

In January 2024, Forum Energy Technologies, Inc. announced it has completed the acquisition of Variperm Energy Services, a leading manufacturer of customized downhole technology solutions, providing sand and flow control products for heavy oil applications. Total consideration for the acquisition consisted of $150 million of cash and 2 million shares of FET's common stock, subject to customary purchase price adjustments.

In January 2024, Caterpillar Inc. has signed an electrification strategic agreement with CRH to advance the deployment of Caterpillar's zero-exhaust emissions solutions for electric off-highway trucks and charging solutions. CRH is the number one Electric Off-Highway Trucksaggregates producer in North America and the first company in that industry to sign such an agreement with Caterpillar.

In December 2023, Baker Hughes has entered into a 20-year framework agreement with Chevron Australia for the supply of subsea production systems. Baker Hughes will offer its Aptara subsea production systems for Chevron Australia's future offshore developments. According to the company, the Aptara suite is an array of advanced subsea equipment including subsea trees, wellheads, control systems and more, and offers adaptable, lightweight and compact TOTEX-lite subsea systems to meet the industry's evolving demands.

Types Covered:

• Triplex Frac Pumps
• Quintuplex Frac Pumps
• Hydraulic Frac Pumps
• Electric Frac Pumps
• Diesel Frac Pumps
• Other Types

Horsepower Ratings Covered:

• Low Horsepower Frac Pumps
• Medium Horsepower Frac Pumps
• High Horsepower Frac Pumps

Applications Covered:

• Onshore Wells
• Offshore Wells
• Other Applications

End Users Covered:

• Oil and Gas Exploration Companies
• Oilfield Service Companies
• Rental Companies
• Other End Users

Regions Covered:

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • UK
  • Italy
  • France
  • Spain
  • Rest of Europe
• Asia Pacific
  • Japan
  • China
  • India
  • Australia
  • New Zealand
  • South Korea
  • Rest of Asia Pacific
• South America
  • Argentina
  • Brazil
  • Chile
  • Rest of South America
• Middle East & Africa
  • Saudi Arabia
  • UAE
  • Qatar
  • South Africa
  • Rest of Middle East & Africa

What our report offers:

• Market share assessments for the regional and country-level segments
• Strategic recommendations for the new entrants
• Covers Market data for the years 2021, 2022, 2023, 2026, and 2030
• Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
• Strategic recommendations in key business segments based on the market estimations
• Competitive landscaping mapping the key common trends
• Company profiling with detailed strategies, financials, and recent developments
• Supply chain trends mapping the latest technological advancements

Free Customization Offerings:

All the customers of this report will be entitled to receive one of the following free customization options:

• Company Profiling
  • Comprehensive profiling of additional market players (up to 3)
  • SWOT Analysis of key players (up to 3)
• Regional Segmentation
  • Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
  • Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances

Table of Contents

1 Executive Summary

2 Preface

• 2.1 Abstract
• 2.2 Stake Holders
• 2.3 Research Scope
• 2.4 Research Methodology
  • 2.4.1 Data Mining
  • 2.4.2 Data Analysis
  • 2.4.3 Data Validation
  • 2.4.4 Research Approach
• 2.5 Research Sources
  • 2.5.1 Primary Research Sources
  • 2.5.2 Secondary Research Sources
  • 2.5.3 Assumptions

3 Market Trend Analysis

• 3.1 Introduction
• 3.2 Drivers
• 3.3 Restraints
• 3.4 Opportunities
• 3.5 Threats
• 3.6 Application Analysis
• 3.7 End User Analysis
• 3.8 Emerging Markets
• 3.9 Impact of Covid-19

4 Porters Five Force Analysis

• 4.1 Bargaining power of suppliers
• 4.2 Bargaining power of buyers
• 4.3 Threat of substitutes
• 4.4 Threat of new entrants
• 4.5 Competitive rivalry

5 Global Frac Pumps Market, By Type

• 5.1 Introduction
• 5.2 Triplex Frac Pumps
• 5.3 Quintuplex Frac Pumps
• 5.4 Hydraulic Frac Pumps
• 5.5 Electric Frac Pumps
• 5.6 Diesel Frac Pumps
• 5.7 Other Types

6 Global Frac Pumps Market, By Horsepower Rating

• 6.1 Introduction
• 6.2 Low Horsepower Frac Pumps
• 6.3 Medium Horsepower Frac Pumps
• 6.4 High Horsepower Frac Pumps

7 Global Frac Pumps Market, By Application

• 7.1 Introduction
• 7.2 Onshore Wells
• 7.3 Offshore Wells
• 7.4 Other Applications

8 Global Frac Pumps Market, By End User

• 8.1 Introduction
• 8.2 Oil and Gas Exploration Companies
• 8.3 Oilfield Service Companies
• 8.4 Rental Companies
• 8.5 Other End Users

9 Global Frac Pumps Market, By Geography

• 9.1 Introduction
• 9.2 North America
  • 9.2.1 US
  • 9.2.2 Canada
  • 9.2.3 Mexico
• 9.3 Europe
  • 9.3.1 Germany
  • 9.3.2 UK
  • 9.3.3 Italy
  • 9.3.4 France
  • 9.3.5 Spain
  • 9.3.6 Rest of Europe
• 9.4 Asia Pacific
  • 9.4.1 Japan
  • 9.4.2 China
  • 9.4.3 India
  • 9.4.4 Australia
  • 9.4.5 New Zealand
  • 9.4.6 South Korea
  • 9.4.7 Rest of Asia Pacific
• 9.5 South America
  • 9.5.1 Argentina
  • 9.5.2 Brazil
  • 9.5.3 Chile
  • 9.5.4 Rest of South America
• 9.6 Middle East & Africa
  • 9.6.1 Saudi Arabia
  • 9.6.2 UAE
  • 9.6.3 Qatar
  • 9.6.4 South Africa
  • 9.6.5 Rest of Middle East & Africa

10 Key Developments

• 10.1 Agreements, Partnerships, Collaborations and Joint Ventures
• 10.2 Acquisitions & Mergers
• 10.3 New Product Launch
• 10.4 Expansions
• 10.5 Other Key Strategies

11 Company Profiling

• 11.1 Forum Energy Technologies
• 11.2 ValTek Industries
• 11.3 Caterpillar
• 11.4 Gardner Denver
• 11.5 Baker Hughes
• 11.6 Yukos Petroleum Equipment
• 11.7 SERVA (EnTrans International)
• 11.8 Cornell Pump Company
• 11.9 Halliburton
• 11.10 KERUI Petroleum
• 11.11 ShalePumps