Frac Services Market Size | Trends, Share & Outlook 2025

Q: What is the current size of the frac services market in USD?

The frac services market is valued at approximately USD 19.7 billion as of 2024.

Q: What is the projected market size of the frac services industry by 2031?

It is projected to reach USD 31.5 billion by 2031.

Q: What is the CAGR of the frac services market from 2024 to 2031?

The market is expected to grow at a CAGR of 6.1% during this period.

Q: Which major factors are driving the growth of the frac services market?

Factors include rising shale gas exploration, technological innovations, and increasing energy demand.

Q: How does 6W market outlook report help businesses in making decisions?

6W monitors the market across 60+ countries Globally, publishing an annual market outlook report that analyses trends, key drivers, Size, Volume, Revenue, opportunities, and market segments. This report offers comprehensive insights, helping businesses understand market dynamics and make informed decisions.

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Code: MTA4541

Publication Date: Jun 2025

What is the Frac services Market Size?

According to 6Wresearch internal database and industry insights, the Global Frac services market was valued at USD 19.7 billion in 2024 and is anticipated to exceed USD 31.5 billion by 2031, registering a steady at a CAGR of 6.1% during the forecast period.

The frac services market is driven by increasing shale gas exploration, the growing demand for oil & gas, and the rising adoption of horizontal drilling techniques. With advancements in hydraulic fracturing technologies and rising global energy needs, the market is experiencing steady growth. North America continues to dominate due to large-scale fracking operations in the U.S.

Major Growth Factors of the Frac services Industry

Rising shale gas and tight oil exploration
Increasing global energy demand
Technological advancements in fracking methods
Government support and investment in unconventional energy
Expansion of horizontal drilling operations
Rising oil prices boosting upstream investments
Increased focus on energy independence by nations

Frac services Market Trends

The market is witnessing a notable shift toward environmentally friendly fracturing fluids and waterless fracking techniques. There is also an increasing trend of digitization and automation in frac operations to improve efficiency and reduce downtime. Integration of real-time monitoring and data analytics in frac fleets is further shaping the competitive landscape.

Emerging Developments in the Frac services Industry

Emerging developments in the industry include the deployment of electric frac fleets to reduce emissions, the introduction of AI-powered predictive maintenance systems, and collaboration among energy companies for shared infrastructure. The focus is also growing on cost-effective and sustainable frac methods due to increasing regulatory scrutiny.