The frac manifold market is driven by increasing demand
for oil and gas, with growth fueled by local
production and infrastructure projects that require efficient fluid
control systems. These systems help optimize production and reduce
costs, making them attractive to oil and gas companies. The market
is expected to see significant growth in India (7.7% CAGR) and the US (6.9%
CAGR).
NEWARK,
Del., May 6, 2024 /PRNewswire/ -- With the
technological evolution in the background, the rate of growth of
the frac manifold market of 7.4%
will likely elevate the industry's size to US$ 11.99 billion by 2034. It will help the
landscape frac manifold market size reach US$ 5.87 billion by 2024.
Download the Sample PDF report to explore key market
insights and trends:
https://www.futuremarketinsights.com/reports/sample/rep-gb-19576
The rising population will demand more energy, which can be
fulfilled through the oil and gas industry. This spiking demand for
the industry will need a better flow-controlling system, which can
be achieved with the help of frac manifolds. As a result, this will
drive the growth of the frac manifold market.
Countries have started to rely more on local reserves to cater
to the energy demands of the population. This has affected the
imports. However, this will lift the demand for fuel
flow-controlling systems from local leading frac manifold
manufacturers for local businesses. This will inflate the demand
for the frac manifold market.
Governments have been heavily investing in development projects.
Several infrastructural projects have caught pace recently, which
require fracturing fluid to fill any cracks. This drives the demand
for a controlling system, which elevates the rate of the growth of
the frac manifold market.
The growing demand for efficient and cost-effective operations
spurs the frac manifold demand. As these systems minimize losses,
they help firms optimize their production. Therefore, this is
another driving force for the industry.
Report Scope
Attributes
|
Details
|
Estimated Industry
Size in 2024
|
US$ 5.87
billion
|
Projected Industry
Valuation in 2034
|
US$ 11.99
billion
|
Value-based CAGR
2024 to 2034
|
7.4 %
|
Forecast
Period
|
2024 to 2034
|
Historical Data
Available for
|
2019 to 2023
|
Analysis
in
|
Value in US$
billion
|
Key Segments
Covered
|
By Integration
Type:
Based on integration
type, the industry is classified as Horizontal Frac Manifolds and
Vertical Frac Manifolds.
By Material:
Carbon
Steel, Stainless Steel, and
Other Alloys are key materials used in the sector.
By Outlet:
The ecosystem is
segmented into single-outlet and multiple-outlet
systems.
By Industry:
Oil & Gas
Industry, Shale Gas
Industry, Coal Seam Gas Industry,
and Other Energy Industries are key industrial segments of the
landscape.
By Region:
The frac mani:fold
industry analysis has been carried in key countries across North
America, Latin America, Western Europe, Eastern Europe, South Asia
and Pacific, East Asia and the Middle East and Africa
|
Key Countries
Profiled
|
•
The United States
•
Canada
•
Brazil
•
Mexico
•
Germany
•
The United Kingdom
•
France
•
Spain
|
•
Italy
•
Poland
•
Russia
•
Czech Republic
•
Romania
•
India
•
Bangladesh
•
Australia
|
•
New Zealand
•
China
•
Japan
•
South Korea
•
GCC Countries
•
South Africa
•
Israel
|
Key Takeaways from the Market Study
- Horizontal frac manifolds have gained more popularity recently,
justifying their 52.3% market space occupancy in 2024.
- The oil and gas industry is advancing, reflecting the
popularity of the segment. It will secure 31.4% of the market
space.
- India's investment in
infrastructural development projects will help the market advance
at the highest CAGR of 7.7%.
- The United States of America
projects a CAGR of 6.9% through 2034 for the frac manifold market
development.
"Volatility of oil and gas prices will affect the frac
manifold market by reducing investment opportunities in the
sector," says Nikhil Kaitwade (Associate Vice
President at Future Market Insights, Inc.).
Competitive Analysis of the Frac Manifold
Industry
Key players in the frac manifold industry occupy a substantial
market space, leaving less room for new entrants to expand. These
organizations use collaborations, partnerships, mergers and
acquisitions, and product launches to gain a better market space.
The following are some recent developments availing edge to key
marketers:-
- In March 2024, Jereh Group
launched GreenWell hazardous waste treatment equipment at the 24th
China International Petroleum & Petrochemical Technology and
Equipment Exhibition.
- In April 2024, SLB announced the
acquisition of ChampionX. The business aims to enhance its
production space with the help of this strategic move. This can
avail a significant competitive advantage to the organization.
Purchase now and gain full access to
the Frac Manifold Battery Industry report, featuring comprehensive
Market Forecast, Company Share Analysis, Competition Intelligence,
DROT Analysis, Market Dynamics and Challenges, and Strategic Growth
Initiatives.
More Valuable Insights Available
Future Market Insights offers an unbiased global frac manifold
market analysis, providing historical data from 2019 to 2023 and
forecast statistics from 2024 to 2034.
The market is segmented by Integration Type (Horizontal Frac
Manifolds and Vertical Frac Manifolds), Material (Carbon Steel,
Stainless Steel, and Other Alloys), Outlet (Single Outlet and
Multiple Outlet), Industry (Oil & Gas Industry, Shale Gas
Industry, Coal Seam Gas Industry, and Other Energy Industries), and
Region (North America,
Latin America, Western Europe, Eastern Europe, South Asia and Pacific, East Asia, and the Middle East and Africa).
About the Industrial Automation Domain at Future Market
Insights
Future Market Insights' industrial automation team offers expert
analysis, time-efficient research, and strategic recommendations to
provide authentic insights and accurate results to help clients
worldwide. With over 100+ reports and one million+ data points, the
team has lucidly analyzed the industry in 50+ countries for over a
decade. The team briefly analyzes key trends, including competitive
landscape, profit margin, and research development efforts.
About the Author:
Nikhil Kaitwade (Associate Vice President at Future Market
Insights, Inc.) has over a decade of experience in market research
and business consulting. He has successfully delivered 1500+ client
assignments, predominantly in Automotive, Chemicals, Industrial
Equipment, Oil & Gas, and Service industries.
His core competency circles around developing research
methodology, creating a unique analysis framework, statistical data
models for pricing analysis, competition mapping, and market
feasibility analysis. His expertise also extends wide and beyond
analysis, advising clients on identifying growth potential in
established and niche market segments, investment/divestment
decisions, and market entry decision-making.
Nikhil holds an MBA degree in Marketing and IT and a Graduate in
Mechanical Engineering. Nikhil has authored several publications
and quoted in journals like EMS Now, EPR Magazine, and EE
Times.
Explore FMI's Extensive Coverage in the Industrial Automation
Domain:
- Mining Equipment Sales Forecast in Latin America by Coal Mining, Metal
Mining, and Mineral Mining, 2024 to 2034. – Review and Request
to Access the Sample Report.
- Drawplate Market Analysis by Steel and Tungsten Carbide
Drawplates from 2024 to 2034. - Review and Request to Access the
Sample Report.
- Curing Oven Market Forecast by Batch Curing Ovens, and
Continuous Curing Ovens From 2024 To 2034. - Review and Request
to Access the Sample Report.
- Grid Casting Machine Market Analysis by Continuous and
Semi-Continuous Grid Casting Machine for 2024 to 2034. - Review
and Request to Access the Sample Report.
- Feed Mixer Market by Vertical and Horizontal from 2024 to
2034. - Review and Request to Access the Sample
Report.
About Future Market Insights (FMI)
Future Market Insights (FMI) is a leading market intelligence
and consulting service provider, serving clients in over 150
countries. FMI is headquartered in Dubai and has delivery centers in the
UK, the U.S., and India. FMI's
latest market research reports and industry analysis help
businesses navigate challenges and make critical decisions with
confidence and clarity amidst breakneck competition. Our customized
and syndicated market research reports deliver actionable
insights that drive sustainable growth. A team of expert-led
analysts at FMI continuously tracks emerging trends and events in a
broad range of industries to ensure that our clients prepare for
the evolving needs of their consumers.
Contact Us
Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware - 19713, USA
T: +1-845-579-5705
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
LinkedIn| Twitter| Blogs | YouTube
Logo:
https://mma.prnewswire.com/media/1197648/3531122/FMI_Logo.jpg
View original
content:https://www.prnewswire.com/news-releases/a-cagr-of-7-4-through-2034-will-fuel-the-frac-manifold-market-growth-to-help-it-reach-us-11-99-billion-by-2034---future-market-insights-inc-302136435.html
SOURCE Future Market Insights