Hydraulic Fracturing Market To Reach $95.92 Billion By 2033

January 2026 | Report Format: Electronic (PDF)

Hydraulic Fracturing Market Growth & Trends

The global hydraulic fracturing market size is expected to reach USD 95.92 billion by 2033, registering a CAGR of 6.2% from 2026 to 2033, according to a new report by Grand View Research, Inc. Growing E&P companies’ concern towards declining production rates in conventional hydrocarbon reserves along with shifting focus towards developing unconventional oil & gas blocks globally is anticipated to drive the market growth.

Favorable initiatives by the U.S. and Chinese government in the form of financial aids, tax incentives and easy provision of FDI in the hydrocarbon sector are estimated to steer the industry expansion over the next few years. Several bans, moratoriums and pubic concerns regarding environmental impacts of the technology particularly in counties including France, Tunisia, Bulgaria, Romania, and South Africa are expected to remain key challenges for the industry participants over the forecast period.

Plug & perf technology dominated the global hydraulic fracturing market accounting for over 80% of the total revenue in 2015. The technique enables multistage fracking in cased holes and is widely used in tight oil and shale completions particularly in the U.S.

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Hydraulic Fracturing Market Report Highlights

The primary driver of the hydraulic fracturing industry is the combined impact of rising global energy demand and technological advancement in unconventional resource extraction
The plug and perforation (plug & perf) technology dominated the market, accounting for around 82.7% of total market revenue in 2025, due to its effectiveness in stimulating long horizontal wells with complex reservoir characteristics
The dominance of the other materials segment, which includes chemical additives, solvents, surfactants, acids, friction reducers, and crosslinkers, reflects their essential role across every stage of the hydraulic fracturing process. These materials are critical for
The shale gas application held the largest share of the market, contributing around 34.1% of total revenue in 2025, driven by sustained development of gas-rich unconventional formations.
The shale gas segment is also projected to register the fastest CAGR of approximately 7.3% during the forecast period, supported by expanding gas utilization across power generation, industrial processes, and LNG supply chains..
North America hydraulic fracturing industry dominated the global market, accounting for around 83.1% of total revenue share in 2025, due to the region’s highly mature unconventional oil and gas industry and sustained drilling intensity across shale formations.