세계의 플랙 플러그 시장 예측(-2030년) : 유형별, 갱이 유형별, 유통 채널별, 기술별, 용도별, 지역별 분석

According to Stratistics MRC, the Global Frac Plugs Market is accounted for $310.62 million in 2024 and is expected to reach $642.58 million by 2030 growing at a CAGR of 9.5% during the forecast period. Frac plugs are specialized devices used in hydraulic fracturing (fracking) to isolate sections of a wellbore during the fracturing process. They are typically made from high-strength materials and are designed to withstand high pressure and temperature. Frac plugs are set in place in the wellbore to block the flow of fluids and prevent them from reaching certain areas of the well. This allows for the staged fracturing of different zones, optimizing the extraction of hydrocarbons and enhancing overall well productivity.

According to the U.S. Energy Information Administration, global liquid fuel consumption has increased from 99.9 mbd in 2022 to 101.9 mbd in 2023.

Market Dynamics:

Driver:

Increased shale gas exploration

Frac plugs play a critical role in isolating sections of the well during fracturing, ensuring efficient extraction. As shale gas exploration expands, the need for reliable and advanced frac plugs intensifies. The surge in shale gas projects has led to a heightened demand for advanced frac plugs, which are critical for improving the efficiency and effectiveness of fracturing operations. This increasing reliance on hydraulic fracturing in shale gas extraction is directly fueling the expansion of the frac plugs market.

Restraint:

Technical challenges

Technical challenges in frac plugs include issues with plug retrieval, incomplete dissolution in the case of dissolvable plugs, and difficulties in deployment in deep or complex well environments. These challenges can lead to operational delays, increased costs, and the potential for well integrity issues. For instance, if a plug fails to dissolve or is difficult to remove, it can obstruct the flow of hydrocarbons, reducing well productivity. Such technical hurdles make operators hesitant to adopt certain types of frac plugs, thereby hampering market growth.

Opportunity:

Growing global energy demand

Growing global energy demand drives the expansion of oil and gas exploration and production activities, particularly in unconventional resources like shale formations. As energy companies seek to meet this rising demand, hydraulic fracturing becomes increasingly essential for accessing these resources. Frac plugs, which are critical tools in the fracturing process, are in higher demand as they enable efficient well completion and maximize hydrocarbon extraction. The need for more wells and enhanced production efficiency directly boosts the demand for frac plugs, fueling market growth as energy consumption continues to rise globally.

Threat:

Vendor lock-in

Volatility in oil prices is driven by factors like geopolitical tensions, fluctuating supply and demand, OPEC decisions, and economic uncertainties. When oil prices drop, energy companies reduce investments in exploration and production to cut costs, leading to fewer drilling and hydraulic fracturing activities. This decline in upstream operations directly hampers the demand for frac plugs, as fewer wells are completed. Consequently, the frac plugs market experiences slower growth during periods of low oil prices due to reduced drilling activity and delayed projects.

Covid-19 Impact

The covid-19 pandemic led to a significant impact on the frac plugs market, causing a decrease in oil and gas exploration activities due to lower energy demand and disrupted supply chains. Reduced investments and halted projects further affected market growth. However, as the industry recovers and production ramps up, the demand for frac plugs is expected to rebound, driven by increased drilling activities and the need for efficient hydraulic fracturing solutions to optimize oil and gas extraction.

The biodegradable frac plugs segment is expected to be the largest during the forecast period

The biodegradable frac plugs segment is estimated to be the largest during the forecast period. Biodegradable frac plugs are advanced well completion tools used in hydraulic fracturing that dissolve naturally after serving their purpose, eliminating the need for retrieval and reducing environmental impact. Made from materials like polyglycolic acid, these plugs break down into harmless byproducts, simplifying well operations and minimizing debris left in the wellbore. Their use enhances operational efficiency, cuts costs, and aligns with environmental regulations, making them increasingly popular in the oil and gas industry.

The geothermal energy segment is expected to have the highest CAGR during the forecast period

The geothermal energy segment is anticipated to witness the highest CAGR growth during the forecast period. Frac plugs are used to isolate sections of the wellbore during hydraulic fracturing, a process that enhances the permeability of geothermal reservoirs. By enabling targeted fracturing, frac plugs help optimize the flow of geothermal fluids, improving the efficiency of heat extraction. The use of frac plugs in geothermal wells is essential for creating multiple fracture zones, thereby maximizing the energy output from geothermal resources and contributing to more efficient and sustainable energy production.

Region with largest share:

The frac plugs market in the Asia-Pacific region is to experience largest share due to increasing oil and gas exploration and production activities. This growth is driven by rising energy demands, particularly in emerging economies like China and India, which are expanding their energy infrastructure. The region's vast untapped reserves and technological advancements in hydraulic fracturing are also contributing to the market's expansion. Additionally, investments in unconventional resource extraction are enhancing market potential and driving competitive dynamics in the region.

Region with highest CAGR:

The frac plugs market in North America is estimated to have highest CAGR, primarily driven by the region's significant oil and gas production activities, particularly in shale plays like the Permian Basin and the Bakken Formation. The market benefits from ongoing investments in infrastructure and innovation, leading to the development of more efficient and reliable frac plug technologies.

Key players in the market

Some of the key players profiled in the Frac Plugs Market include Schlumberger, Halliburton, Baker Hughes, Weatherford International, C&J Energy Services, Nine Energy Service, Trican Well Service, NCS Multistage, Liberty Oilfield Services, Calfrac Well Services, Pioneer Energy Services, BJ Services, Superior Energy Services, Nextier Oilfield Solutions, Great White Pressure Pumping, SPM Oil & Gas and GEODynamics.

Key Developments:

In May 2022, SPM Oil & Gas has announced an innovation to enhance the hydraulic fracturing process: the new, more streamlined SPM(TM) Simplified Frac Iron System. The Simplified Frac Iron System improves the typically disjointed process inherent with conventional ground iron. This results in fewer lines, connections and components.

In March 2022, GEODynamics(R) has introduced its new EVOLV(R) Composite Frac Plug with Quick Connect Technology. The new EVOLV plug eliminates many horizontal completions challenges and has been shown to allow wireline firms to improve time savings at the wellsite by 95%, 15 seconds compared to 300 seconds with conventional plugs, enabling operators to realise greater efficiencies in the oilfield.

Types Covered:

• Composite Frac Plugs
• Metal Frac Plugs
• Biodegradable Frac Plugs

Well Types Covered:

• Vertical Wells
• Horizontal Wells
• Multilateral Wells
• Extended Reach Wells
• Directional Wells
• Unconventional Wells
• Other Well Types

Distribution Channels Covered:

• Direct Sales
• Distributors
• Online Sales

Technologies Covered:

• Conventional
• Dissolvable
• Retrievable

Applications Covered:

• Oil & Gas Exploration
• Geothermal Energy
• Coal Seam Gas
• Well Stimulation
• Water Wells
• Other Applications

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 2022, 2023, 2024, 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 Technology Analysis
• 3.7 Application 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 Plugs Market, By Type

• 5.1 Introduction
• 5.2 Composite Frac Plugs
• 5.3 Metal Frac Plugs
• 5.4 Biodegradable Frac Plugs

6 Global Frac Plugs Market, By Well Type

• 6.1 Introduction
• 6.2 Vertical Wells
• 6.3 Horizontal Wells
• 6.4 Multilateral Wells
• 6.5 Extended Reach Wells
• 6.6 Directional Wells
• 6.7 Unconventional Wells
• 6.8 Other Well Types

7 Global Frac Plugs Market, By Distribution Channel

• 7.1 Introduction
• 7.2 Direct Sales
• 7.3 Distributors
• 7.4 Online Sales

8 Global Frac Plugs Market, By Technology

• 8.1 Introduction
• 8.2 Conventional
• 8.3 Dissolvable
• 8.4 Retrievable

9 Global Frac Plugs Market, By Application

• 9.1 Introduction
• 9.2 Oil & Gas Exploration
• 9.3 Geothermal Energy
• 9.4 Coal Seam Gas
• 9.5 Well Stimulation
• 9.6 Water Wells
• 9.7 Other Applications

10 Global Frac Plugs Market, By Geography

• 10.1 Introduction
• 10.2 North America
  • 10.2.1 US
  • 10.2.2 Canada
  • 10.2.3 Mexico
• 10.3 Europe
  • 10.3.1 Germany
  • 10.3.2 UK
  • 10.3.3 Italy
  • 10.3.4 France
  • 10.3.5 Spain
  • 10.3.6 Rest of Europe
• 10.4 Asia Pacific
  • 10.4.1 Japan
  • 10.4.2 China
  • 10.4.3 India
  • 10.4.4 Australia
  • 10.4.5 New Zealand
  • 10.4.6 South Korea
  • 10.4.7 Rest of Asia Pacific
• 10.5 South America
  • 10.5.1 Argentina
  • 10.5.2 Brazil
  • 10.5.3 Chile
  • 10.5.4 Rest of South America
• 10.6 Middle East & Africa
  • 10.6.1 Saudi Arabia
  • 10.6.2 UAE
  • 10.6.3 Qatar
  • 10.6.4 South Africa
  • 10.6.5 Rest of Middle East & Africa

11 Key Developments

• 11.1 Agreements, Partnerships, Collaborations and Joint Ventures
• 11.2 Acquisitions & Mergers
• 11.3 New Product Launch
• 11.4 Expansions
• 11.5 Other Key Strategies

12 Company Profiling

• 12.1 Schlumberger
• 12.2 Halliburton
• 12.3 Baker Hughes
• 12.4 Weatherford International
• 12.5 C&J Energy Services
• 12.6 Nine Energy Service
• 12.7 Trican Well Service
• 12.8 NCS Multistage
• 12.9 Liberty Oilfield Services
• 12.10 Calfrac Well Services
• 12.11 Pioneer Energy Services
• 12.12 BJ Services
• 12.13 Superior Energy Services
• 12.14 Nextier Oilfield Solutions
• 12.15 Great White Pressure Pumping
• 12.16 SPM Oil & Gas
• 12.17 GEODynamics