Pressure Pumping Market Pressure pumping market forecast, 2016-2024 | Page 3

Hydraulic fracturing expected to dominate the pressure pumping market holding more than 70% of the total market share in 2016 Hydraulic fracturing, or fracking, is a process in which water, sand and chemicals are pumped underground to break apart the rock and release the gas. In past decades, an extensive use of hydraulic fracturing has been noticed in the North American countries. Fracking is is highly effective, efficient and productive method for reaching deep and difficult to reach zones below the earth’s crust. According to the statistics revealed by U.S. Energy Information Administration (EIA), nearly 50% of the total oil wells in the U.S. are hydraulically fractured 3