As demand for oil and gas increases globally, the Global Pressure Pumping Market in the Oil and Gas Industry is expected to grow at a CAGR of 14.6 percent from 2014-2019, says research firm TechNavio.

About the Report

The latest report by TechNavio emphasizes an increase in the consumption of oil and gas worldwide which is one of the major driving forces in the Global Pressure Pumping Market in the Oil and Gas industry. The market is expected to grow at a rapid rate, topping US $118 billion by 2019.

“The expansion to unconventional oil and gas exploration and production activities will stimulate the growth of the market and will also drive large investments in pressure pumping services,” says Faisal Ghaus, Vice President of TechNavio.

Additionally, the report highlights the emergence of intelligent pumps with data recording systems, which possess the ability to control and regulate flow or pressure and even perform density-control.

“Intelligent pump systems have a fault tolerant design and tend to reduce the total cost of ownership of pump systems. Because of these features, it is expected that many manufacturers will adopt them over the projected period,” says Ghaus.

Key Information Covered in the Report:

  • Market segmentation, size and forecast through 2019
  • Market Growth Drivers:
    • Increase in Global Oil and Gas Demand
    • For a full detailed list, view our report.
  • Market Challenges:
    • Shortfall in Revenue Generation of Oil Companies
    • For a full detailed list, view our report.
  • Market Trends:
    • Rise in Unconventional Oil and Gas Resources
    • For a full detailed list, view our report.
  • Key Vendors:
    • Baker Hughes
    • Halliburton Corp.
    • Schlumberger
  • Other Prominent Vendors:
    • Calfrac Well Services
    • Sanjel
    • Trican

TechNavio currently has more than 3000 market research reports on a huge range of topics, including 100+ reports on the oil and gas industry:

  • Global SCADA Market in the Oil and Gas Industry 2015-2019
  • Global Process Safety System Market in the Oil and Gas Industry 2015-2019

If you are interested in more information, please contact our media team at media@technavio.com.