Market Overview:
The global hybrid frac plug 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, the increasing adoption of fracking technology for shale gas production is also contributing to the growth of this market. The global hybrid frac plug market can be segmented on the basis of type, application, and region. On the basis of type, it can be divided into 4.5 inches, 5 inches, 5.5 inches, and others segments.
Product Definition:
A Hybrid Frac Plug is a device that is inserted into a wellbore to temporarily stop the flow of oil and gas. It can also be used to control the pressure in the well during hydraulic fracturing operations.
4.5 inches:
4.5 inches is the measurement of length and it's used for plugging of Hybrid Frac Plug (HFP) in wellbore during drilling operations. It is also known as “frac plug” or “frac shoe” and it can be categorized into two types - standard and premium.
5.0 inches:
5.0 inches is the standard length for hybrid frac plug. It’s a combination of three different types of plugs that are designed to fit into wells with varying dimensions. The most common use of these plugs is in wellbores where the walls have been perforated at regular intervals and then they are cemented using a special cement known as Hybrid Cement (HC).
The 5-inch hybrid frac plug has an external thread on one end.
Application Insights:
The global demand for shale gas is expected to rise over the coming years, which in turn will drive the growth of the global hybrid frac plug market. The horizontal well segment dominated the overall application segment accounting for a share of 60.1% in 2017 owing to its ability to extract large volumes of oil and gas with low costs per unit volume as compared to vertical wells.
The growing use of these plugs during hydraulic fracturing operations has led to an increase in their demand from horizontal wells across various regions including North America and Asia Pacific. In addition, technological advancements such as implementation of advanced materials have further driven their adoption across all types of applications including vertical and horizontal wells.
Regional Analysis:
North America dominated the global hybridfrac plug market in 2017. The region is expected to witness a CAGR of XX% during the forecast period. Increasing shale gas exploration activities and development of unconventional resources, such as tight oil and tar sands, are anticipated to drive product demand in this region. Furthermore, technological advancements related to hydraulic fracturing have led to an increase in production of unconventional hydrocarbon reserves which includes shale gas and tight oil deposits across North America thus driving regional market growth.
Asia Pacific is estimated to be the fastest-growing regional segment over the forecast period owing high investments made by various governments for developing natural gas resources from coal bed methane (CBM) wells thereby increasing government subsidies on CBM technology leading towards increased adoption rate for hydraulic fracking coupled with horizontal well drilling techniques resulting into increased demand for hybridfrac plugs within Asia Pacific region.
Growth Factors:
- Increasing demand for oil and gas due to population growth and industrialization
- Rising investments in exploration and production activities of oil and gas
- Technological advancements in drilling and completion techniques
- Stringent environmental regulations for hydraulic fracturing operations
- Growing popularity of hybrid frac plugs as a cost-effective alternative to conventional plugs
Scope Of The Report
Report Attributes
Report Details
Report Title
Hybrid Frac Plug Market Research Report
By Type
4.5 inches, 5.0 inches, 5.5 inches, Others
By Application
Vertical Wells, Horizontal Wells
By Companies
Innovex, Downhole Technology, GE (Baker Hughes)
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
232
Number of Tables & Figures
163
Customization Available
Yes, the report can be customized as per your need.
Global Hybrid Frac Plug Market Report Segments:
The global Hybrid Frac Plug market is segmented on the basis of:
Types
4.5 inches, 5.0 inches, 5.5 inches, 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
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:
- Innovex
- Downhole Technology
- GE (Baker Hughes)
Highlights of The Hybrid 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:
- 4.5 inches
- 5.0 inches
- 5.5 inches
- Others
- By Application:
- Vertical Wells
- Horizontal Wells
- 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 Hybrid 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.
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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 hybrid frac plug is a type of well completion tool that combines the functionality of both a perforating gun and a directional drill. This allows operators to quickly complete wells with multiple stages, without having to carry multiple tools on site.
Some of the key players operating in the hybrid frac plug market are Innovex, Downhole Technology, GE (Baker Hughes).
The hybrid frac plug market is expected to register a CAGR of 5.5%.
1. Executive Summary
2. Assumptions and Acronyms Used
3. Research Methodology
4. Hybrid Frac Plug 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. Hybrid Frac Plug Market Dynamics
4.3.1. Market Drivers
4.3.2. Market Restraints
4.3.3. Opportunity
4.3.4. Market Trends
4.4. Hybrid Frac Plug Market - Supply Chain
4.5. Global Hybrid Frac Plug Market Forecast
4.5.1. Hybrid Frac Plug Market Size (US$ Mn) and Y-o-Y Growth
4.5.2. Hybrid Frac Plug Market Size (000 Units) and Y-o-Y Growth
4.5.3. Hybrid Frac Plug Market Absolute $ Opportunity
5. Global Hybrid Frac Plug 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. Hybrid Frac Plug Market Size and Volume Forecast by Type
5.3.1. 4.5 inches
5.3.2. 5.0 inches
5.3.3. 5.5 inches
5.3.4. Others
5.4. Absolute $ Opportunity Assessment by Type
5.5. Market Attractiveness/Growth Potential Analysis by Type
6. Global Hybrid Frac Plug 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. Hybrid Frac Plug 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 Hybrid Frac Plug 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. Hybrid Frac Plug 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 Hybrid Frac Plug 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. Hybrid Frac Plug 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 Hybrid Frac Plug Demand Share Forecast, 2019-2026
9. North America Hybrid Frac Plug 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 Hybrid Frac Plug 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 Hybrid Frac Plug 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 Hybrid Frac Plug Market Size and Volume Forecast by Type
9.7.1. 4.5 inches
9.7.2. 5.0 inches
9.7.3. 5.5 inches
9.7.4. Others
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 Hybrid Frac Plug Demand Share Forecast, 2019-2026
10. Latin America Hybrid Frac Plug 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 Hybrid Frac Plug 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 Hybrid Frac Plug 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 Hybrid Frac Plug Market Size and Volume Forecast by Type
10.7.1. 4.5 inches
10.7.2. 5.0 inches
10.7.3. 5.5 inches
10.7.4. Others
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 Hybrid Frac Plug Demand Share Forecast, 2019-2026
11. Europe Hybrid Frac Plug 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 Hybrid Frac Plug 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 Hybrid Frac Plug 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 Hybrid Frac Plug Market Size and Volume Forecast by Type
11.7.1. 4.5 inches
11.7.2. 5.0 inches
11.7.3. 5.5 inches
11.7.4. Others
11.8. Basis Point Share (BPS) Analysis by Type
11.9. Y-o-Y Growth Projections by Type
11.10. MarketAttractiveness/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 Hybrid Frac Plug Demand Share, 2019-2026
12. Asia Pacific Hybrid Frac Plug 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 Hybrid Frac Plug 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 Hybrid Frac Plug 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 Hybrid Frac Plug Market Size and Volume Forecast by Type
12.7.1. 4.5 inches
12.7.2. 5.0 inches
12.7.3. 5.5 inches
12.7.4. Others
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 Hybrid Frac Plug Demand Share, 2019-2026
13. Middle East & Africa Hybrid Frac Plug 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 Hybrid Frac Plug 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 Hybrid Frac Plug 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 Hybrid Frac Plug Market Size and Volume Forecast by Type
13.7.1. 4.5 inches
13.7.2. 5.0 inches
13.7.3. 5.5 inches
13.7.4. Others
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 Hybrid Frac Plug Demand Share, 2019-2026
14. Competition Landscape
14.1. Global Hybrid Frac Plug Market: Market Share Analysis
14.2. Hybrid Frac Plug Distributors and Customers
14.3. Hybrid Frac Plug Market: Competitive Dashboard
14.4. Company Profiles (Details Overview, Financials, Developments, Strategy)
14.4.1. Innovex
14.4.1.1. Overview
14.4.1.2. Financials
14.4.1.3. Developments
14.4.1.4. Strategic Outlook
14.4.2. Downhole Technology
14.4.2.1. Overview
14.4.2.2. Financials
14.4.2.3. Developments
14.4.2.4. Strategic Outlook
14.4.3. GE (Baker Hughes)
14.4.3.1. Overview
14.4.3.2. Financials
14.4.3.3. Developments
14.4.3.4. Strategic Outlook
14.4.4. COMPANY4
14.4.4.1. Overview
14.4.4.2. Financials
14.4.4.3. Developments
14.4.4.4. Strategic Outlook
14.4.5. COMPANY5
14.4.5.1. Overview
14.4.5.2. Financials
14.4.5.3. Developments
14.4.5.4. Strategic Outlook
14.4.6. COMPANY6
14.4.6.1. Overview
14.4.6.2. Financials
14.4.6.3. Developments
14.4.6.4. Strategic Outlook
14.4.7. COMPANY7
14.4.7.1. Overview
14.4.7.2. Financials
14.4.7.3. Developments
14.4.7.4. Strategic Outlook
14.4.8. COMPANY8
14.4.8.1. Overview
14.4.8.2. Financials
14.4.8.3. Developments
14.4.8.4. Strategic Outlook
14.4.9. COMPANY9
14.4.9.1. Overview
14.4.9.2. Financials
14.4.9.3. Developments
14.4.9.4. Strategic Outlook
14.4.10. COMPANY 10
14.4.10.1. Overview
14.4.10.2. Financials
14.4.10.3. Developments
14.4.10.4. Strategic Outlook
14.4.11. COMPANY 11
14.4.11.1. Overview
14.4.11.2. Financials
14.4.11.3. Developments
14.4.11.4. Strategic Outlook
14.4.12. COMPANY 12
14.4.12.1. Overview
14.4.12.2. Financials
14.4.12.3. Developments
14.4.12.4. Strategic Outlook
14.4.13. COMPANY 13
14.4.13.1. Overview
14.4.13.2. Financials
14.4.13.3. Developments
14.4.13.4. Strategic Outlook
14.4.14. COMPANY 14
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