Market Size of Europe Hydraulic Fracturing Industry
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2020 - 2022 |
| CAGR | > 0.66 % |
| Market Concentration | High |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Europe Hydraulic Fracturing Market Analysis
The market for hydraulic fracturing in Europe is expected to grow at a CAGR of more than 0.66% during the forecast period of 2020 - 2025. The increase in demand for oil and gas and the countries trying to reduce their dependence on imports are the factors that have led to some growth in the sector. However, the impact of hydraulic fracturing on the environment and technological constraints have impeded much growth in the industry. Many countries, including the Netherlands and Ireland, have banned the process of hydraulic fracturing, which has also caused concerns in the hydraulic fracturing market.
- The hydraulic fracturing industry is a controversial topic in the countries of Europe due to its alleged effects on the environment, with the United Kingdom banning the practice in England, in 2019.
- The pipeline being built through the Baltic Sea is expected to add to the demand for Russian gas. An increase in demand may lead to companies to invest in unconventional resources, which can become an opportunity for companies in the oil and gas industry.
- Russia is expected to dominate the market over the forecast period owing to the presence of economically feasible shale reserves in the country.
