December 4, 2018 - 10:06 AM EST
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Global Frac Tree Market 2019-2023| Increasing Applications of IoT in the Oil and Gas Industry to Promote Growth| Technavio

LONDON

The global frac tree market is expected to post a CAGR of over 5% during the period 2019-2023, according to the latest market research report by Technavio.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20181204005705/en/

Technavio has released a new market research report on the global frac tree market for the period 20 ...

Technavio has released a new market research report on the global frac tree market for the period 2019-2023. (Graphic: Business Wire)

A key factor driving the growth of the market is the growing investments in shale oil and gas. Shale is a low permeability sedimentary rock formation, which contains trapped oil and gas. The hydraulic fracturing process is used to harness oil and gas from shale rocks. By using a combination of water, sand, detergents, and other stimulating fluids, pressure is applied on these rock formations to fracture the rock and allow the oil and gas to rise to the surface where it is collected for processing.

This market research report on the global frac tree market 2019-2023 also provides an analysis of the most important trends expected to impact the market outlook during the forecast period. Technavio classifies an emerging trend as a major factor that has the potential to significantly impact the market and contribute to its growth or decline.

This report is available at a USD 1,000 discount for a limited time only: View market snapshot before purchasing

In this report, Technavio highlights the increasing applications of IoT in the oil and gas industry as one of the key emerging trends in the global frac tree market:

Global frac tree market: Increasing applications of IoT in the oil and gas industry

During the well drilling process, oil and gas E&P activities generate a large amount of data. The integration of automation in drilling activities is being applied to various parts of the drilling process to improve efficiency by integrating the latest technology into the processes. In order to meet the growing demands of the industry and reduce safety concerns, GPS, sensors, wireless communication, real-time data acquisition, and innovations in equipment are being implemented.

“Though safety aspect is the prime motive behind drilling automation, economic benefits of automation are also gaining popularity, leading to the increased adoption of automation. The incorporation of IoT in industrial operations for improved processing and automation provides an analytical as well as a calculated approach to oil and gas production. This decreases the risk, reduces non-productive time, and lowers the uncertainty in the process,” says a senior analyst at Technavio for research on oil and gas.

Global frac tree market: Segmentation analysis

This market research report segments the global frac tree market by application (onshore and offshore) and geographical regions (the Americas, APAC, and EMEA).

The onshore segment held the largest market share in 2018, accounting for nearly 97% of the market. This application segment is expected to dominate the global market throughout the forecast period.

The Americas led the market in 2018 with a market share of nearly 91%. This region is expected to dominate the market until 2023.

Looking for more information on this market? Request a free sample report

Technavio’s sample reports are free of charge and contain multiple sections of the report such as the market size and forecast, drivers, challenges, trends, and more.

Some of the key topics covered in the report include:

Market Landscape

  • Market ecosystem
  • Market characteristics
  • Market segmentation analysis

Market Sizing

  • Market definition
  • Market size and forecast

Five Forces Analysis

Market Segmentation

Geographical Segmentation

  • Regional comparison
  • Key leading countries

Market Drivers

Market Challenges

Market Trends

Vendor Landscape

  • Vendors covered
  • Vendor classification
  • Market positioning of vendors
  • Competitive scenario

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 10,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

If you are interested in more information, please contact our media team at [email protected].

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
www.technavio.com


Source: Business Wire (December 4, 2018 - 10:06 AM EST)

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