Global Pressure Pumping Market to Reach $951.4 Billion by 2030
The global market for Pressure Pumping estimated at US$321.7 Billion in the year 2023, is expected to reach US$951.4 Billion by 2030, growing at a CAGR of 16.8% over the analysis period 2023-2030. Hydraulic Fracturing Service, one of the segments analyzed in the report, is expected to record a 17.4% CAGR and reach US$627.9 Billion by the end of the analysis period. Growth in the Cementing Service segment is estimated at 15.9% CAGR for the next 7-year period.
The U.S. Market is Estimated at $82.7 Billion, While China is Forecast to Grow at 21.3% CAGR
The Pressure Pumping market in the U.S. is estimated at US$82.7 Billion in the year 2023. China, the world`s second largest economy, is forecast to reach a projected market size of US$243.1 Billion by the year 2030 trailing a CAGR of 21.3% over the analysis period 2023 to 2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 11.8% and 14.3% respectively over the 2023-2030 period. Within Europe, Germany is forecast to grow at approximately 13% CAGR. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$158.6 Billion by the year 2030.
Learn how to effectively navigate the market research process to help guide your organization on the journey to success.
Download eBook