Hydraulic Fracturing Market Report 2025

This Hydraulic Fracturing market report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market’s historic and forecast market growth by geography.

The hydraulic fracturing market size has grown strongly in recent years. It will grow from $40.69 billion in 2024 to $44.51 billion in 2025 at a compound annual growth rate (CAGR) of 9.4%. The growth in the historic period can be attributed to increased demand for unconventional oil and gas resources, rising energy prices andThe need for energy security, expansion of shale gas exploration and production.

The hydraulic fracturing market size is expected to see strong growth in the next few years. It will grow to $60.35 billion in 2029 at a compound annual growth rate (CAGR) of 7.9%. The growth in the forecast period can be attributed to growing global energy demand, continued exploration of unconventional reserves, enhanced focus on environmental and regulatory compliance, integration of data analytics in hydraulic fracturing operations, increasing use of recycled water in hydraulic fracturing operations. Major trends in the forecast period include advancements in hydraulic fracturing technologies, technological innovations in horizontal drilling, advances in hydraulic fracturing fluid technology, increasing focus on the development of eco-friendly hydraulic fracturing technologies.

The increasing demand for oil and gas from offshore assets is propelling the growth of the hydraulic fracturing market. The surge in global energy demand has prompted oil and gas operators to enhance the value of their existing assets by employing advanced methods like hydraulic fracturing for oil and gas recovery, while also extending production and exploration activities to more remote and challenging environments. For example, in June 2023, the International Energy Agency, a France-based intergovernmental economic organization, reported that global oil demand is expected to rise by 6% between 2022 and 2028, reaching 105.7 million barrels per day (mb/d), driven by strong demand from the petrochemical and aviation sectors. Consequently, the rising demand for oil and gas from offshore assets is fueling the hydraulic fracturing market.

The rise in energy demand is driving the growth of the hydraulic fracturing market. Energy is defined as the capacity or ability to perform work or induce change. Hydraulic fracturing plays a crucial role in extracting hydrocarbons from underground reserves, significantly contributing to meeting the growing energy demand. For example, in September 2022, the Energy Information Administration, a US government agency, reported that in 2022, the cumulative nameplate power capacity of active utility-scale battery energy storage systems (BESSs) in the US reached 8,842 MW, with a total energy capacity of 11,105 MWh. A substantial portion of this BESS power capacity became operational after several years, with approximately 4,807 MW installed during 2022 alone. Therefore, the increasing energy demand will continue to drive the growth of the hydraulic fracturing market.

Technological advancement is a prominent trend in the hydraulic fracturing market. Companies operating in this sector are increasingly adopting advanced technologies such as automation, real-time tracking systems, and live 3D visualization systems, as these innovations enhance efficiency in hydraulic fracturing operations through automated controls and improved visibility. For instance, in May 2022, SPM Oil & Gas, a US-based company specializing in upstream pressure pumping and pressure control equipment and services, introduced the SPM Simplified Frac Iron System. This innovative system aims to improve the hydraulic fracturing process by addressing the inefficiencies associated with traditional frac operations. The new system reduces the physical footprint and the amount of iron needed for fracturing operations, thereby increasing overall operational efficiency at the frac site.

Major players in the hydraulic fracturing market are actively engaged in developing innovative products, including simplified hydraulic fracturing systems. These streamlined technologies are designed to efficiently extract oil and gas from underground reservoirs, utilizing minimal and optimized equipment and processes. For instance, in May 2022, SPM Oil & Gas introduced the SPM Simplified Frac Iron System, streamlining the fracking process for enhanced efficiency. The system simplifies the typically complex equipment used in hydraulic fracturing, making the entire process smoother and more efficient.

In January 2023, ProFrac Holding Corp., a US-based company primarily engaged in the hydraulic fracturing sector, acquired Rev Energy Holdings, LLC, and Producers Services Holdings, LLC for an undisclosed amount. This acquisition aligns with ProFrac's strategy to expand its presence in the hydraulic fracturing market, enhancing its service offerings and operational capacity. Producers Services Holdings, LLC is an Ohio-based company that provides pressure pumping services, while Rev Energy is a Canada-based private energy company specializing in hydraulic fracturing and related services.

Major companies operating in the hydraulic fracturing market include Halliburton Company, Schlumberger Limited, Baker Hughes Company, NexTier Oilfield Solutions Inc., Calfrac Well Services Ltd., Liberty Oilfield Services LLC, Weatherford International plc, ProPetro Holding Corp., Evolution Well Services LLC, RPC Inc., PJSC Rosneft Oil Company, Trican Well Service Ltd., US Well Services Inc., Cudd Energy Services, Enerplus Corporation, Frac Shack Inc., Nine Energy Service Inc., Patterson-UTI Energy Inc., ProFrac Services LLC, Pro-Stim Services LLC, Sanjel Energy Services, STEP Energy Services Ltd., Tacrom Services SA, AFG Holdings Inc.

North America was the largest region in the hydraulic fracturing market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the hydraulic fracturing market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the hydraulic fracturing market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Canada, Spain.

Hydraulic fracturing is the process of inducing fractures in a rock formation containing oil or gas by injecting a high-pressure liquid into wells. Once the wells are drilled, cased, and cemented, small perforations are created throughout the pipe by injecting a fluid mixture consisting of 90% water, 9. 5% sand, and 0. 5% additives, aiming to generate microfractures.

The primary technologies employed in hydraulic fracturing are plug & perf and sliding sleeves. Plug and perf, a stimulation technique used in wells with cemented liners, is the preferred and widely adopted method for unconventional wells. This technique involves the deployment of a bridge plug on a wireline with perforating guns to a horizontal location near the toe of the well. The plug is then adjusted, and the zone is perforated. Fluids utilized in hydraulic fracturing include slickwater-based fluid, foam-based fluid, gelled oil-based fluid, and others. This process is applied in both horizontal and vertical wells situated in onshore and offshore locations.

The hydraulic fracturing market research report is one of a series of new reports that provides hydraulic fracturing market statistics, including the hydraulic fracturing industry global market size, regional shares, competitors with a hydraulic fracturing market share, detailed hydraulic fracturing market segments, market trends and opportunities, and any further data you may need to thrive in the hydraulic fracturing industry. This hydraulic fracturing market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The hydraulic fracturing market consists of revenues earned by entities that are engaged in providing services such as preparation, drilling, well completion, production, and well abandonment. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

This product will be delivered within 3-5 business days.