Pressure Pump Market 2021: Application, Solutions, Developments Status
According to Market Research Future (MRFR), the global pressure pumping market size is expected to reach USD 78.17 billion, with an estimated 9.57% CAGR from 2019 to 2025 (forecast period). The report assesses the effect of the COVID-19 pandemic on the global pressure pumping market and presents a reliable estimation of the anticipated fluctuations in demand over the forecast period. Pressure pumping is a process of fracture propagation through several layers of rock using pressurized fracturing fluid and pumping cement into the wellbore to complete it. This method is typically used to extract resources from low permeability reservoirs like shale gas and unconventional liquids, which are difficult to recover by regular drilling procedures. Furthermore, the depleting state of conventional resources has led the global oil & gas industry to explore and benefit from unconventional resources like shale gas, tight oil & gas, and coal bed methane. The extraction of unconventiona...