Latest Update: Impact of current COVID-19 situation has been considered in this report while making the analysis.
Global Frac Plugs Market by Type (Composite Plugs, Dissolvable Plugs, Cast Iron Plugs), By Application (Vertical Wells, Horizontal Wells) And By Region (North America, Latin America, Europe, Asia Pacific and Middle East & Africa), Forecast From 2022 To 2030-report

Global Frac Plugs Market by Type (Composite Plugs, Dissolvable Plugs, Cast Iron Plugs), By Application (Vertical Wells, Horizontal Wells) And By Region (North America, Latin America, Europe, Asia Pacific and Middle East & Africa), Forecast From 2022 To 2030

Report ID: 155372 3300 Machinery & Equipment 377 245 Pages 4.9 (48)
                                          

Market Overview:


The global frac plugs market is expected to grow at a CAGR of 5.5% during the forecast period from 2018 to 2030. The growth in the market can be attributed to the increasing demand for oil and gas across the globe. Additionally, rising investments in exploration and production activities are also propelling the growth of this market. The global frac plugs market is segmented on the basis of type, application, and region. On the basis of type, it is divided into composite plugs, dissolvable plugs, cast iron plugs,. Composite plug dominates this market with a share of more than 60%. This can be attributed to their high strength-to-weight ratio which makes them suitable for use in challenging applications such as high pressure and deep wells.


Global Frac Plugs Industry Outlook


Product Definition:


A frac plug is a tool used in the oil and gas industry to stop the flow of fluid during a fracking operation.


Composite Plugs:


Composite plugs are made up of multiple materials such as ceramic, plastic and metal. These composite plugs have the ability to fill gaps in concrete and other masonry units. They also provide resistance to corrosion which is a major concern with steel or iron plugging solutions. Composite plugs are used for applications where water pressure is high or there is a possibility of water leakage from the construction site such as around pipes, electrical boxes or any other structure that may leak during installation.


Dissolvable Plugs:


Dissolvable plugs are small plastic pieces that are intended to be placed in the wellbore of shale or tight reserves during cement placement. They act as a barrier between the cement and formation fluids, thereby preventing fluid loss from the well. The dissolvable plug is lowered into position by means of a wireline or coiled tubing string and then it is sealed at its lower end with an epoxy resin-based material called as “cable seal”.


Application Insights:


The application segment is segregated into vertical and horizontal wells. The vertical well plugging application dominated the overall industry in terms of revenue share in 2017. Horizontal drilling has been gaining popularity over the past few years owing to its low cost, less risk, shorter development time and easy operations. However, due to low permeability associated with shale rock layers under moderate pressure zones it cannot be used for producing oil & gas from shale reserves thus leading to adoption of plugs for extraction of hydrocarbons from these rocks.


The composite frac plug is a kind of reusable product which comprises two parts namely a core made up of high strength steel alloy and an outer layer that gets dissolved away when exposed to hydraulic pressure during drilling operation.


Regional Analysis:


North America dominated the global market in 2017 owing to the high number of shale gas reserves present in this region. The U.S., being a developed economy, has more options for disposal wells and thus, higher demand for such products over there. In addition, growing awareness regarding hydraulic fracturing and its associated risks is expected to drive industry growth over the forecast period.


Asia Pacific is anticipated to witness significant growth during the forecast period owing to increasing government support towards development of unconventional energy resources in countries such as China and India coupled with rising awareness about environmental hazards associated with traditional sources of energy supply (petroleum & coal). These factors are likely to boost product demand over the next eight years. Moreover, rapid industrialization along with presence of major manufacturers including MSC Industrial Directing Corporation; Belden Inc.; Furukawa Electric Co., Ltd.; Furukawa Electric Co., Ltd.; Panasonic Corporation; Sumitomo Electric Industries, Inc.


Growth Factors:


  • Increasing demand for oil and gas across the globe
  • Rising investments in shale gas exploration and production
  • Proliferation of hydraulic fracturing technology
  • Stringent environmental regulations for drilling operations
  • Growing awareness about the benefits of using frac plugs

Scope Of The Report

Report Attributes

Report Details

Report Title

Frac Plugs Market Research Report

By Type

Composite Plugs, Dissolvable Plugs, Cast Iron Plugs

By Application

Vertical Wells, Horizontal Wells

By Companies

Schlumberger, Halliburton, BHGE, Downhole Technology, Innovex, Forum Energy Technologies, NOV, Magnum Oil Tools, Weatherford, Rubicon Oilfield International, Sinopec, CNPC, Peak Completion, SPT Energy

Regions Covered

North America, Europe, APAC, Latin America, MEA

Base Year

2021

Historical Year

2019 to 2020 (Data from 2010 can be provided as per availability)

Forecast Year

2030

Number of Pages

245

Number of Tables & Figures

172

Customization Available

Yes, the report can be customized as per your need.


Global Frac Plugs Market Report Segments:

The global Frac Plugs market is segmented on the basis of:

Types

Composite Plugs, Dissolvable Plugs, Cast Iron Plugs

The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.

Applications

Vertical Wells, Horizontal Wells

The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.

Some of the companies that are profiled in this report are:

  1. Schlumberger
  2. Halliburton
  3. BHGE
  4. Downhole Technology
  5. Innovex
  6. Forum Energy Technologies
  7. NOV
  8. Magnum Oil Tools
  9. Weatherford
  10. Rubicon Oilfield International
  11. Sinopec
  12. CNPC
  13. Peak Completion
  14. SPT Energy

Global Frac Plugs Market Overview


Highlights of The Frac Plugs Market Report:

  1. The market structure and projections for the coming years.
  2. Drivers, restraints, opportunities, and current trends of market.
  3. Historical data and forecast.
  4. Estimations for the forecast period 2030.
  5. Developments and trends in the market.
  6. By Type:

    1. Composite Plugs
    2. Dissolvable Plugs
    3. Cast Iron Plugs
  1. By Application:

    1. Vertical Wells
    2. Horizontal Wells
  1. Market scenario by region, sub-region, and country.
  2. Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
  3. Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
  4. Government Policies, Macro & Micro economic factors are also included in the report.

We have studied the Frac Plugs Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.

Regional Analysis

  • North America
  • Europe
  • Asia Pacific
  • Middle East & Africa
  • Latin America

Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.

The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.

How you may use our products:

  • Correctly Positioning New Products
  • Market Entry Strategies
  • Business Expansion Strategies
  • Consumer Insights
  • Understanding Competition Scenario
  • Product & Brand Management
  • Channel & Customer Management
  • Identifying Appropriate Advertising Appeals

Global Frac Plugs Market Statistics

8 Reasons to Buy This Report

  1. Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
  2. Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
  3. Implemented Robust Methodology to Prepare the Report
  4. Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
  5. Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
  6. Provides Information About the Top-winning Strategies Implemented by Industry Players.
  7. In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
  8. Customization of the Report Available

Frequently Asked Questions?


Frac plugs are a type of oil well plugging tool. They are inserted into the well to prevent the escape of oil and gas.

Some of the key players operating in the frac plugs market are Schlumberger, Halliburton, BHGE, Downhole Technology, Innovex, Forum Energy Technologies, NOV, Magnum Oil Tools, Weatherford, Rubicon Oilfield International, Sinopec, CNPC, Peak Completion, SPT Energy.

The frac plugs market is expected to register a CAGR of 5.5%.

                                            
1. Executive Summary

2. Assumptions and Acronyms Used

3. Research Methodology

4. Frac Plugs Market Overview
   4.1. Introduction
      4.1.1. Market Taxonomy
      4.1.2. Market Definition
   4.2. Macro-Economic Factors
      4.2.1. Industry Outlook
   4.3. Frac Plugs Market Dynamics
      4.3.1. Market Drivers
      4.3.2. Market Restraints
      4.3.3. Opportunity
      4.3.4. Market Trends
   4.4. Frac Plugs Market - Supply Chain
   4.5. Global Frac Plugs Market Forecast
      4.5.1. Frac Plugs Market Size (US$ Mn) and Y-o-Y Growth
      4.5.2. Frac Plugs Market Size (000’ Units) and Y-o-Y Growth
      4.5.3. Frac Plugs Market Absolute $ Opportunity

5. Global Frac Plugs Market Analysis and Forecast by Type
   5.1. Market Trends
   5.2. Introduction
      5.2.1. Basis Point Share (BPS) Analysis by Type
      5.2.2. Y-o-Y Growth Projections by Type
   5.3. Frac Plugs Market Size and Volume Forecast by Type
      5.3.1. Composite Plugs
      5.3.2. Dissolvable Plugs
      5.3.3. Cast Iron Plugs
   5.4. Absolute $ Opportunity Assessment by Type
   5.5. Market Attractiveness/Growth Potential Analysis by Type

6. Global Frac Plugs Market Analysis and Forecast by Application
   6.1. Market Trends
   6.2. Introduction
      6.2.1. Basis Point Share (BPS) Analysis by Application
      6.2.2. Y-o-Y Growth Projections by Application
   6.3. Frac Plugs Market Size and Volume Forecast by Application
      6.3.1. Vertical Wells
      6.3.2. Horizontal Wells
   6.4. Absolute $ Opportunity Assessment by Application
   6.5. Market Attractiveness/Growth Potential Analysis by Application

7. Global Frac Plugs Market Analysis and Forecast by Sales Channel
   7.1. Market Trends
   7.2. Introduction
      7.2.1. Basis Point Share (BPS) Analysis by Sales Channel 
      7.2.2. Y-o-Y Growth Projections by Sales Channel
   7.3. Frac Plugs Market Size and Volume Forecast by Sales Channel 
      7.3.1. Manufacturer/Distributor/Service Provider
      7.3.2. Aftermarket
   7.4. Absolute $ Opportunity Assessment by Sales Channel
   7.5. Market Attractiveness/Growth Potential Analysis by Sales Channel

8. Global Frac Plugs Market Analysis and Forecast by Region
   8.1. Market Trends
   8.2. Introduction
      8.2.1. Basis Point Share (BPS) Analysis by Region
      8.2.2. Y-o-Y Growth Projections by Region
   8.3. Frac Plugs Market Size and Volume Forecast by Region
      8.3.1. North America
      8.3.2. Latin America
      8.3.3. Europe
      8.3.4. Asia Pacific
      8.3.5. Middle East and Africa (MEA)
   8.4. Absolute $ Opportunity Assessment by Region
   8.5. Market Attractiveness/Growth Potential Analysis by Region
   8.6. Global Frac Plugs Demand Share Forecast, 2019-2026

9. North America Frac Plugs Market Analysis and Forecast
   9.1. Introduction
      9.1.1. Basis Point Share (BPS) Analysis by Country
      9.1.2. Y-o-Y Growth Projections by Country
   9.2. North America Frac Plugs Market Size and Volume Forecast by Country
      9.2.1. U.S.
      9.2.2. Canada
   9.3. Absolute $ Opportunity Assessment by Country
   9.4. North America Frac Plugs Market Size and Volume Forecast by Application
      9.4.1. Vertical Wells
      9.4.2. Horizontal Wells
   9.5. Basis Point Share (BPS) Analysis by Application
   9.6. Y-o-Y Growth Projections by Application
   9.7. North America Frac Plugs Market Size and Volume Forecast by Type
      9.7.1. Composite Plugs
      9.7.2. Dissolvable Plugs
      9.7.3. Cast Iron Plugs
   9.8. Basis Point Share (BPS) Analysis by Type
   9.9. Y-o-Y Growth Projections by Type
   9.10. Market Attractiveness/Growth Potential Analysis
      9.10.1. By Country
      9.10.2. By Product Type
      9.10.3. By Application
      9.10.4. By Sales Channel
   9.11. North America Frac Plugs Demand Share Forecast, 2019-2026

10. Latin America Frac Plugs Market Analysis and Forecast
   10.1. Introduction
      10.1.1. Basis Point Share (BPS) Analysis by Country
      10.1.2. Y-o-Y Growth Projections by Country
      10.1.3. Latin America Average Pricing Analysis
   10.2. Latin America Frac Plugs Market Size and Volume Forecast by Country
      10.2.1. Brazil
      10.2.2. Mexico
      10.2.3. Rest of Latin America
   10.3. Absolute $ Opportunity Assessment by Country
   10.4. Latin America Frac Plugs Market Size and Volume Forecast by Application
      10.4.1. Vertical Wells
      10.4.2. Horizontal Wells
   10.5. Basis Point Share (BPS) Analysis by Application
   10.6. Y-o-Y Growth Projections by Application
   10.7. Latin America Frac Plugs Market Size and Volume Forecast by Type
      10.7.1. Composite Plugs
      10.7.2. Dissolvable Plugs
      10.7.3. Cast Iron Plugs
   10.8. Basis Point Share (BPS) Analysis by Type
   10.9. Y-o-Y Growth Projections by Type
   10.10. Market Attractiveness/Growth Potential Analysis
      10.10.1. By Country
      10.10.2. By Product Type
      10.10.3. By Application
      10.10.4. By Sales Channel
   10.11. Latin America Frac Plugs Demand Share Forecast, 2019-2026

11. Europe Frac Plugs Market Analysis and Forecast
   11.1. Introduction
      11.1.1. Basis Point Share (BPS) Analysis by Country
      11.1.2. Y-o-Y Growth Projections by Country
      11.1.3. Europe Average Pricing Analysis
   11.2. Europe Frac Plugs Market Size and Volume Forecast by Country
      11.2.1. Germany
      11.2.2. France
      11.2.3. Italy
      11.2.4. U.K.
      11.2.5. Spain
      11.2.6. Russia
      11.2.7. Rest of Europe
   11.3. Absolute $ Opportunity Assessment by Country
   11.4. Europe Frac Plugs Market Size and Volume Forecast by Application
      11.4.1. Vertical Wells
      11.4.2. Horizontal Wells
   11.5. Basis Point Share (BPS) Analysis by Application
   11.6. Y-o-Y Growth Projections by Application
   11.7. Europe Frac Plugs Market Size and Volume Forecast by Type
      11.7.1. Composite Plugs
      11.7.2. Dissolvable Plugs
      11.7.3. Cast Iron Plugs
   11.8. Basis Point Share (BPS) Analysis by Type
   11.9. Y-o-Y Growth Projections by Type
   11.10. Market Attractiveness/Growth Potential Analysis
      11.10.1. By Country
      11.10.2. By Product Type
      11.10.3. By Application
      11.10.4. By Sales Channel
   11.11. Europe Frac Plugs Demand Share, 2019-2026

12. Asia Pacific Frac Plugs Market Analysis and Forecast
   12.1. Introduction
      12.1.1. Basis Point Share (BPS) Analysis by Country
      12.1.2. Y-o-Y Growth Projections by Country
      12.1.3. Asia Pacific Average Pricing Analysis
   12.2. Asia Pacific Frac Plugs Market Size and Volume Forecast by Country
      12.2.1. China
      12.2.2. Japan
      12.2.3. South Korea
      12.2.4. India
      12.2.5. Australia
      12.2.6. Rest of Asia Pacific (APAC)
   12.3. Absolute $ Opportunity Assessment by Country
   12.4. Asia Pacific Frac Plugs Market Size and Volume Forecast by Application
      12.4.1. Vertical Wells
      12.4.2. Horizontal Wells
   12.5. Basis Point Share (BPS) Analysis by Application
   12.6. Y-o-Y Growth Projections by Application
   12.7. Asia Pacific Frac Plugs Market Size and Volume Forecast by Type
      12.7.1. Composite Plugs
      12.7.2. Dissolvable Plugs
      12.7.3. Cast Iron Plugs
   12.8. Basis Point Share (BPS) Analysis by Type
   12.9. Y-o-Y Growth Projections by Type
   12.10. Market Attractiveness/Growth Potential Analysis
      12.10.1. By Country
      12.10.2. By Product Type
      12.10.3. By Application
      12.10.4. By Sales Channel
   12.11. Asia Pacific Frac Plugs Demand Share, 2019-2026

13. Middle East & Africa Frac Plugs Market Analysis and Forecast
   13.1. Introduction
      13.1.1. Basis Point Share (BPS) Analysis by Country
      13.1.2. Y-o-Y Growth Projections by Country
      13.1.3. Asia Pacific Average Pricing Analysis
   13.2. Middle East & Africa Frac Plugs Market Size and Volume Forecast by Country
      13.2.1. Saudi Arabia
      13.2.2. South Africa
      13.2.3. UAE
      13.2.4. Rest of Middle East & Africa (MEA)
   13.3. Absolute $ Opportunity Assessment by Country
   13.4. Middle East & Africa Frac Plugs Market Size and Volume Forecast by Application
      13.4.1. Vertical Wells
      13.4.2. Horizontal Wells
   13.5. Basis Point Share (BPS) Analysis by Application
   13.6. Y-o-Y Growth Projections by Application
   13.7. Middle East & Africa Frac Plugs Market Size and Volume Forecast by Type
      13.7.1. Composite Plugs
      13.7.2. Dissolvable Plugs
      13.7.3. Cast Iron Plugs
   13.8. Basis Point Share (BPS) Analysis by Type
   13.9. Y-o-Y Growth Projections by Type
   13.10. Market Attractiveness/Growth Potential Analysis
      13.10.1. By Country
      13.10.2. By Product Type
      13.10.3. By Application
      13.10.4. By Sales Channel
   13.11. Middle East & Africa Frac Plugs Demand Share, 2019-2026

14. Competition Landscape
   14.1. Global Frac Plugs Market: Market Share Analysis
   14.2. Frac Plugs Distributors and Customers
   14.3. Frac Plugs Market: Competitive Dashboard
   14.4. Company Profiles (Details – Overview, Financials, Developments, Strategy) 
      14.4.1. Schlumberger
         14.4.1.1. Overview
         14.4.1.2. Financials
         14.4.1.3. Developments
         14.4.1.4. Strategic Outlook
      14.4.2. Halliburton
         14.4.2.1. Overview
         14.4.2.2. Financials
         14.4.2.3. Developments
         14.4.2.4. Strategic Outlook
      14.4.3. BHGE
         14.4.3.1. Overview
         14.4.3.2. Financials
         14.4.3.3. Developments
         14.4.3.4. Strategic Outlook
      14.4.4. Downhole Technology
         14.4.4.1. Overview
         14.4.4.2. Financials
         14.4.4.3. Developments
         14.4.4.4. Strategic Outlook
      14.4.5. Innovex
         14.4.5.1. Overview
         14.4.5.2. Financials
         14.4.5.3. Developments
         14.4.5.4. Strategic Outlook
      14.4.6. Forum Energy Technologies
         14.4.6.1. Overview
         14.4.6.2. Financials
         14.4.6.3. Developments
         14.4.6.4. Strategic Outlook
      14.4.7. NOV
         14.4.7.1. Overview
         14.4.7.2. Financials
         14.4.7.3. Developments
         14.4.7.4. Strategic Outlook
      14.4.8. Magnum Oil Tools
         14.4.8.1. Overview
         14.4.8.2. Financials
         14.4.8.3. Developments
         14.4.8.4. Strategic Outlook
      14.4.9. Weatherford
         14.4.9.1. Overview
         14.4.9.2. Financials
         14.4.9.3. Developments
         14.4.9.4. Strategic Outlook
      14.4.10. Rubicon Oilfield International
         14.4.10.1. Overview
         14.4.10.2. Financials
         14.4.10.3. Developments
         14.4.10.4. Strategic Outlook
      14.4.11. Sinopec
         14.4.11.1. Overview
         14.4.11.2. Financials
         14.4.11.3. Developments
         14.4.11.4. Strategic Outlook
      14.4.12. CNPC
         14.4.12.1. Overview
         14.4.12.2. Financials
         14.4.12.3. Developments
         14.4.12.4. Strategic Outlook
      14.4.13. Peak Completion
         14.4.13.1. Overview
         14.4.13.2. Financials
         14.4.13.3. Developments
         14.4.13.4. Strategic Outlook
      14.4.14. SPT Energy
         14.4.14.1. Overview
         14.4.14.2. Financials
         14.4.14.3. Developments
         14.4.14.4. Strategic Outlook
      14.4.15. COMPANY 15
         14.4.15.1. Overview
         14.4.15.2. Financials
         14.4.15.3. Developments
         14.4.15.4. Strategic Outlook
      14.4.16. COMPANY 16
         14.4.16.1. Overview
         14.4.16.2. Financials
         14.4.16.3. Developments
         14.4.16.4. Strategic Outlook
      14.4.17. COMPANY 17
         14.4.17.1. Overview
         14.4.17.2. Financials
         14.4.17.3. Developments
         14.4.17.4. Strategic Outlook
      14.4.18. COMPANY 18
         14.4.18.1. Overview
         14.4.18.2. Financials
         14.4.18.3. Developments
         14.4.18.4. Strategic Outlook
      14.4.19. COMPANY 19
         14.4.19.1. Overview
         14.4.19.2. Financials
         14.4.19.3. Developments
         14.4.19.4. Strategic Outlook
      14.4.20. COMPANY 20
         14.4.20.1. Overview
         14.4.20.2. Financials
         14.4.20.3. Developments
         14.4.20.4. Strategic Outlook

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