Overview

Engineering simulation solutions are used to design hydraulic fracturing drilling and pressure pumping equipment. Simulation can also be used to design and optimize facilities and water recycle devices. There are also many environmental concerns, including how to reduce:

(1) The operational footprint at the drilling/production sites,

(2) The amount of the fracking fluids and material used during the fracking process, and

(3) Emissions from the machinery.

More specifically, Parveen Industries provides solutions related to optimizing fracking stages and overall well performances and related geomechanics concerns related to oil shale or shale gas formations.

Global Market Outlook on Hydraulic Fracturing Services

The overall global hydraulic fracturing services market is estimated to be $62.5 billion in 2018:

  • The global hydraulic fracturing services market is forecasted to grow at a CAGR of 9–10 percent to reach $82.1 billion by 2021
  • The US is the significant market for hydraulic fracturing services, which accounts for 85 percent of the global hydraulic fracturing activities
  • The global hydraulic fracturing market is estimated to reach $ 62.5 billion by the end of 2018, and it is expected to grow at a CAGR of 9–10 percent during 2018–2021.

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