Market Overview:
The global drillable frac plug market is expected to grow at a CAGR of 5.5% during the forecast period from 2018 to 2030. The market growth can be attributed to the increasing demand for oil and gas across the globe. Additionally, the increasing drilling activities for shale gas and tight oil are also propelling the growth of this market. The global drillable frac plug market is segmented on the basis of type, application, and region. On the basis of type, it is divided into cast iron plugs, composite plugs, and others (including rubber plugs). Composite plugs are expected to witness high growth during the forecast period owing to their properties such as high tensile strength and resistance against corrosion. On account of application, it is classified into horizontal well and vertical well segments. Horizontal wells are anticipated to hold a larger share in terms of revenue in 2018 as compared with vertical wells due to an increase in drilling activities for shale gas extraction across regions such as North America and Europe . Geographically speaking, North America dominates this market followed by Europe , Asia Pacific , Latin America ,and Middle East & Africa .
Product Definition:
A drillable frac plug is a tool that can be inserted into a wellbore to isolate different zones for fracturing. The importance of drillable frac plugs is that they allow for the controlled stimulation of oil and gas wells, which can increase production rates and improve recovery.
Cast Iron Plugs:
Cast iron plugs are used in the oil & gas industry for sealing purposes. They are manufactured using various raw materials including pig iron, slag, and sand. The basic process involved in manufacturing a cast iron plug is similar to that of making a regular cast steel plug; however, the final product varies according to the type of raw material used and manufacturer’s preferences.
Composite Plugs:
Composite plugs and it's usage in Drillable Frac Plug market is a new technology that has been developed to overcome the limitations of traditional plug designs. The main objective of this technology is to produce composite plugs with high strength, greater durability, and superior performance under extreme conditions. These are manufactured using multiple materials such as ceramics & metals alloys along with plastics & carbon fibers which increases their overall strength along with reducing the chances of errors during assembly operations.
Application Insights:
The global demand for the product has witnessed a paradigm shift due to its ability to reduce operational costs and environmental impact. The horizontal well segment dominated the overall industry in terms of revenue share in 2017, owing to an increase in drilling activities across various oil & gas producing countries.
Horizontal wells are widely used for discovering new resources as they offer higher productivity rates as compared to vertical wells. Horizontal drilling is also more cost-effective than vertical drilling techniques since it does not require any equipment or machinery at the time of extraction. Furthermore, increasing use of composites plugs during operations has further driven down production costs and this trend is expected to continue over the forecast period.
Regional Analysis:
North America dominated the global drillablefrac plug market in 2017. The region is expected to witness a CAGR of XX% over the forecast period, owing to increasing drilling activities for shale plays and tight oil wells in order to meet rising energy demand as well as reduce dependence on imports.
The U.S., which is one of the leading producers of crude oil and natural gas, has been witnessing an increase in exploration and production activities over the past few years due to its abundant supply of fossil fuels across various regions including North America, Europe, Asia Pacific etc.; thereby driving growth across these regions.
Growth Factors:
- Increasing demand for oil and gas across the globe
- Rising investments in the exploration and production of oil and gas
- Proliferation of fracking technology
- Stringent environmental regulations to promote use of frac plugs over other methods of well stimulation
- Growing awareness about the benefits of using drillable frac plugs
Scope Of The Report
Report Attributes
Report Details
Report Title
Drillable Frac Plug Market Research Report
By Type
Cast Iron Plugs, Composite Plugs, Others
By Application
Horizontal Well, Vertical Well
By Companies
Schlumberger, Halliburton, BHGE, Downhole Technology, Innovex, Forum Energy Technologies, NOV, Magnum Oil Tools, Weatherford, Rubicon Oilfield International, Schlumberger, 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
171
Number of Tables & Figures
120
Customization Available
Yes, the report can be customized as per your need.
Global Drillable Frac Plug Market Report Segments:
The global Drillable Frac Plug market is segmented on the basis of:
Types
Cast Iron Plugs, Composite Plugs, Others
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
Horizontal Well, Vertical Well
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:
- Schlumberger
- Halliburton
- BHGE
- Downhole Technology
- Innovex
- Forum Energy Technologies
- NOV
- Magnum Oil Tools
- Weatherford
- Rubicon Oilfield International
- Schlumberger
- CNPC
- Peak Completion
- SPT Energy
Highlights of The Drillable Frac Plug Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Cast Iron Plugs
- Composite Plugs
- Others
- By Application:
- Horizontal Well
- Vertical Well
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Drillable Frac Plug 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
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- Consumer Insights
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8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
A drillablefracplug is a type of wellbore plug that can be drilled and fracced using standard drilling and fracturing techniques. Drillablefracplugs are made from a variety of materials, including metals, plastics, and composites. They are designed to resist wear during drilling and fracturing operations, while still allowing the passage of fluids and gas.
Some of the major companies in the drillable frac plug market are Schlumberger, Halliburton, BHGE, Downhole Technology, Innovex, Forum Energy Technologies, NOV, Magnum Oil Tools, Weatherford, Rubicon Oilfield International, Schlumberger, CNPC, Peak Completion, SPT Energy.
The drillable frac plug market is expected to register a CAGR of 5.5%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Drillable Frac Plug Market Overview
4.1 Introduction
4.1.1 Market Taxonomy
4.1.2 Market Definition
4.1.3 Macro-Economic Factors Impacting the Market Growth
4.2 Drillable Frac Plug Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Drillable Frac Plug Market - Supply Chain Analysis
4.3.1 List of Key Suppliers
4.3.2 List of Key Distributors
4.3.3 List of Key Consumers
4.4 Key Forces Shaping the Drillable Frac Plug Market
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitution
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
4.5 Global Drillable Frac Plug Market Size & Forecast, 2018-2028
4.5.1 Drillable Frac Plug Market Size and Y-o-Y Growth
4.5.2 Drillable Frac Plug Market Absolute $ Opportunity
Chapter 5 Global Drillable Frac Plug Market Analysis and Forecast by Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Type
5.1.2 Basis Point Share (BPS) Analysis by Type
5.1.3 Absolute $ Opportunity Assessment by Type
5.2 Drillable Frac Plug Market Size Forecast by Type
5.2.1 Cast Iron Plugs
5.2.2 Composite Plugs
5.2.3 Others
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Drillable Frac Plug Market Analysis and Forecast by Applications
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Applications
6.1.2 Basis Point Share (BPS) Analysis by Applications
6.1.3 Absolute $ Opportunity Assessment by Applications
6.2 Drillable Frac Plug Market Size Forecast by Applications
6.2.1 Horizontal Well
6.2.2 Vertical Well
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Drillable Frac Plug Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 Drillable Frac Plug Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America Drillable Frac Plug Analysis and Forecast
9.1 Introduction
9.2 North America Drillable Frac Plug Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America Drillable Frac Plug Market Size Forecast by Type
9.6.1 Cast Iron Plugs
9.6.2 Composite Plugs
9.6.3 Others
9.7 Basis Point Share (BPS) Analysis by Type
9.8 Absolute $ Opportunity Assessment by Type
9.9 Market Attractiveness Analysis by Type
9.10 North America Drillable Frac Plug Market Size Forecast by Applications
9.10.1 Horizontal Well
9.10.2 Vertical Well
9.11 Basis Point Share (BPS) Analysis by Applications
9.12 Absolute $ Opportunity Assessment by Applications
9.13 Market Attractiveness Analysis by Applications
Chapter 10 Europe Drillable Frac Plug Analysis and Forecast
10.1 Introduction
10.2 Europe Drillable Frac Plug Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe Drillable Frac Plug Market Size Forecast by Type
10.6.1 Cast Iron Plugs
10.6.2 Composite Plugs
10.6.3 Others
10.7 Basis Point Share (BPS) Analysis by Type
10.8 Absolute $ Opportunity Assessment by Type
10.9 Market Attractiveness Analysis by Type
10.10 Europe Drillable Frac Plug Market Size Forecast by Applications
10.10.1 Horizontal Well
10.10.2 Vertical Well
10.11 Basis Point Share (BPS) Analysis by Applications
10.12 Absolute $ Opportunity Assessment by Applications
10.13 Market Attractiveness Analysis by Applications
Chapter 11 Asia Pacific Drillable Frac Plug Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Drillable Frac Plug Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific Drillable Frac Plug Market Size Forecast by Type
11.6.1 Cast Iron Plugs
11.6.2 Composite Plugs
11.6.3 Others
11.7 Basis Point Share (BPS) Analysis by Type
11.8 Absolute $ Opportunity Assessment by Type
11.9 Market Attractiveness Analysis by Type
11.10 Asia Pacific Drillable Frac Plug Market Size Forecast by Applications
11.10.1 Horizontal Well
11.10.2 Vertical Well
11.11 Basis Point Share (BPS) Analysis by Applications
11.12 Absolute $ Opportunity Assessment by Applications
11.13 Market Attractiveness Analysis by Applications
Chapter 12 Latin America Drillable Frac Plug Analysis and Forecast
12.1 Introduction
12.2 Latin America Drillable Frac Plug Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America Drillable Frac Plug Market Size Forecast by Type
12.6.1 Cast Iron Plugs
12.6.2 Composite Plugs
12.6.3 Others
12.7 Basis Point Share (BPS) Analysis by Type
12.8 Absolute $ Opportunity Assessment by Type
12.9 Market Attractiveness Analysis by Type
12.10 Latin America Drillable Frac Plug Market Size Forecast by Applications
12.10.1 Horizontal Well
12.10.2 Vertical Well
12.11 Basis Point Share (BPS) Analysis by Applications
12.12 Absolute $ Opportunity Assessment by Applications
12.13 Market Attractiveness Analysis by Applications
Chapter 13 Middle East & Africa (MEA) Drillable Frac Plug Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Drillable Frac Plug Market Size 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 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) Drillable Frac Plug Market Size Forecast by Type
13.6.1 Cast Iron Plugs
13.6.2 Composite Plugs
13.6.3 Others
13.7 Basis Point Share (BPS) Analysis by Type
13.8 Absolute $ Opportunity Assessment by Type
13.9 Market Attractiveness Analysis by Type
13.10 Middle East & Africa (MEA) Drillable Frac Plug Market Size Forecast by Applications
13.10.1 Horizontal Well
13.10.2 Vertical Well
13.11 Basis Point Share (BPS) Analysis by Applications
13.12 Absolute $ Opportunity Assessment by Applications
13.13 Market Attractiveness Analysis by Applications
Chapter 14 Competition Landscape
14.1 Drillable Frac Plug Market: Competitive Dashboard
14.2 Global Drillable Frac Plug Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 Schlumberger
14.3.2 Halliburton
14.3.3 BHGE
14.3.4 Downhole Technology
14.3.5 Innovex
14.3.6 Forum Energy Technologies
14.3.7 NOV
14.3.8 Magnum Oil Tools
14.3.9 Weatherford
14.3.10 Rubicon Oilfield International
14.3.11 Schlumberger
14.3.12 CNPC
14.3.13 Peak Completion
14.3.14 SPT Energy
