Growth of Fracking Fluid Market to be Impacted by the Increasing Demand for Oil
Posted by Loise Williams on March 3rd, 2020
The report, global fracking fluid market 2020-2024 has been added to Technavio's catalog. It provides a comprehensive analysis of the market, including its global and regional market share as well as market segmentation based on geographic regions and application for the forecast period 2020-2024.
Increasing demand for oil and gas will drive the fracking fluid market
The rising industrialization and urbanization in countries such as China and India and the growing energy consumption are driving the demand for oil and gas. According to IEA, the global energy demand is expected to grow by 25% during 2018-2040. This is propelling oil and gas E&P companies to increase well-drilling activities to explore untapped reservoirs through unconventional E&P techniques such as hydraulic fracturing and horizontal drilling. This will drive the demand for fracturing fluid in these unconventional E&P techniques, which will boost the growth of the fracking fluid market during the forecast period.
Increasing applications of IoT – An emerging trend in the fracking fluid market
The integration of IoT into oil and gas operations is gaining traction in the market because it improves the processing and helps in employing automation. This not only provides an analytical and calculated approach to oil and gas production but also eliminates the uncertainty, non-productive time, and potential risks associated with the extraction process. It also provides real-time pressure data, which plays a significant role in the fracking process to prevent over-fracturing issues. It also supports the efficiency of the tools used in the fracking process.
Download the free sample report @ http://bit.ly/2IeyJGH
Other Key Topics Covered in the Report are:
DRIVERS AND CHALLENGES
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About the AuthorLoise Williams
Joined: August 7th, 2019
Articles Posted: 266
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