Frac Tree Market Outlook - 2027
A frac tree typically comprises master valves such as upper vales, lower valves, swab valve, and wing vales. In addition, it contains flow cross and goat head. These are large sized bores and have high-pressure ratings in comparison to production trees that helps to accommodate the high flow rates and pressures that is necessary for hydraulic fracturing. A frac tree installed precisely for the fracturing process, which refers to the construction procedure of forming high pressure in the wellbore to compel the formation to shape fractures typically also referred to as hydraulic fracturing. Hydraulic fracturing work on the principle of hydraulic pressure transmission. The high-pressure working liquid carrying proppant is from the ground to form and maintain fractures in the formation. It is a powerful production increment generally utilized at home and abroad. Because of the high conductivity fractures loaded up with proppant, it is equivalent to expanding the radius of the wellbore, expanding the spillage area, and extraordinarily diminishing the seepage resistance.
COVID-19 scenario analysis:
- The global market for frac tree is severely impacted by the outbreak of the COVID-19 pandemic.
- The COVID-19 pandemic led to a decline in the economic growth in almost all major countries, thus affecting consumer spending patterns.
- Owing to the lockdown implemented across various countries, national and international transport have been hampered, which has significantly impacted the supply chain of numerous industries across the globe, thereby increasing the supply–demand gap.
- Thus, insufficiency in raw material supply is expected to hamper the production rate of frac tree, which negatively impact the market growth.
Top impacting factors: Market Scenario Analysis, Trends, Drivers and Impact Analysis
Growth in unconventional resources, mainly shale gas and oil reserves along with large investments in exploration and production activities are driving the market for frac tree. Growing investment in shale oil and gas is contributing towards the growth of the market. Shale is a low permeability sedimentary stone development, which contains trap oil and gas. With using a mixture of water, sand, detergents, and other stimulating fluids, pressure is applied on these rock formations to fracture the rock and allow the oil and gas to rise to the surface where it is collected for processing.
New product launches to flourish the market
Jereh Group, a main oilfield equipment maker, launched new electric solution for shale gas improvement. Jereh's new innovation is different from other because of its robust electric engine and Jereh licensed JR5000QPN pump, focusing and empowering the electric frac fleet to satisfy operations of large displacement, high pressure and long duration. A power supply package is offered for areas with deficient power grids or any type of power facilities. the electric fleet is more economical with power density of 134kw/t in comparison to diesel fleets. The electric solution is environmental-friendly with low noise level of less than 85 dB and less lube leaking.
Surge in usage in oil & gas well applications
Rise in discovery of multiple reservoirs of shale oil and gas and rising offshore exploration activities in the region. Increasing population and increasing demand for energy impacting on the demand for frac tree. Operational efficiency along with growing number of exploitation and discoveries of marginal oil reserves drive the frac tree industry share. Rising focus toward digitalization and automation of the drilling operations to augment crude oil production rate will further boost the business landscape. Thecost-effective nature of frac tree enablesoil and gas industries to adopt it for production.
Key benefits of the report:
- This study presents the analytical depiction of the global Frac Tree market along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the global Frac Tree market.
- The current market is quantitatively analysed to highlight the global Frac Tree market growth scenario.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
- The report provides a detailed global frac tree market analysis based on competitive intensity and how the competition will take shape in coming years.
Frac Tree Market Report Highlights
Key Market Players
Aero Rental Services, Ocean Petroleum Machinery Co. Ltd., Helios Oil Gas Equipment., Stonewell Energy