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(Transportation-News.com, March 01, 2019 )
As per the latest market intelligence report published by Stratview Research, the Composite Frac Plugs and Balls Market is anticipated to reach at US$ 2,837.1 million by 2024.
The research studies Composite Frac Plugs and Balls Market in the trend period of 2013 to 2018 and forecasted period of 2019 to 2024 under five segments by Product Type (Frac Plugs and Frac Balls), by Resin Type (Epoxy Composites, Phenolic Composites, and Other Composites), by Manufacturing Process Type (Injection Molding, Filament Winding, and Compression Molding), by Sales Channel Type (Direct Sales and Distributor Sales), and by Region (North America, Europe, Asia-Pacific, and Rest of the World), Trend, Forecast, Competitive Analysis, and Growth Opportunity: 2019-2024
The study finds –
North America is expected to remain the largest as well as the fastest-growing market during the forecast period.
Hydraulic fracturing is considered to be the most promising technology for oil & gas production, where composite frac plugs and balls have a proven track record of more than three decades.
Frac plug dominates the total market and is expected to remain the larger and faster-growing segment of the market over the next five years.
Click here to read the detailed description: https://www.stratviewresearch.com/365/Composite-Frac-Plugs-and-Frac-Balls-Market.html
Go through the TOC: https://www.stratviewresearch.com/toc/365/Composite-Frac-Plugs-and-Frac-Balls-Market.html
Composite Frac Plugs and Balls Market: Highlights
Plug-n-perf is the most common technique and accounts for more than 85% share of the hydraulic fracturing market in which composite frac plugs and balls are the most preferred choices. The global composite frac plugs and balls market is likely to experience an excellent CAGR over the next five years to reach US$ 2,837.1 million in 2024.
Rebounding crude oil prices; recovering rigs count, especially of North America; increasing share of hydraulically fractured oil & gas in the USA; increasing share of horizontal wells drilling in the USA; increasing average lateral length of wells; and increasing average number of frac stages are some of the major factors that are driving the demand for frac plugs and balls.
In terms of region, North America is expected to remain the largest as well as the fastest-growing market during the forecast period. The major players such as Haliburton, Schlumberger Limited, Downhole technology Ltd., Weatherford International, and Baker Hughes, are based in North America only.
About Stratview Research
Stratview Research is a trusted brand globally, providing high quality research and strategic insights that help companies worldwide in effective decision making.
Stratview Research
Ritesh Gandecha
+1-313-307-4176
sales@stratviewresearch.com
Source: EmailWire.Com 
Source: EmailWire.com
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