Perforating Gun Market Forecasts to 2028 – Global Analysis By Gun Type (Through Tubing Hollow Carrier, Through Tubing Strip, Tubing Conveyed Perforating, Wireline Conveyed Casing), Application (Onshore, Offshore) and By Geography
According to Stratistics MRC, the Global Perforating Gun Market is accounted for $5,361.35 million in 2020 and is expected to reach $8,359.93 million by 2028 growing at a CAGR of 5.7% during the forecast period. Growing complexity of reservoir conditions and increased shale gas exploration is driving the market growth. However, declining number of newly drilled wells is hampering the growth of the market.
Perforating gun is a device used to drill holes in oil and gas wells for production purpose. The primary purpose of the perforating gun is to provide effective flow communication between the cased wellbore and the productive reservoir.
Based on the well type, the horizontal & deviated well segment is going to have lucrative growth during the forecast period due to the increasing well development activities and increasing reperforation of old wells. By geography, North America is going to have high growth during the forecast period owing to the rise in shale gas exploration activities and commencement of several offshore drilling activities in the region.
Some of the key players profiled in the Perforating Gun Market include Baker Hughes, Core Laboratories, Dynaenergetics , Halliburton, Hunting PLC, National Oilwell Varco , Oiltech Service , Promperforator, Schlumberger, Shaanxi Fype Rigid Machinery , Tassaroli, Weatherford, Yellow Jacket Oil Tool , and Zao Ntf Perfotech.
Estimated Market Size in 2020:
USD 5,361.35 million
Compound Annual Growth Rate (CAGR) from 2020 to 2028:
Predicted 2028 Value:
USD 8,359.93 million
Tables, Graphs & Figures
Type, Gun Type, Well Type, Explosive Type, Depth, Well Pressure, Carrier Type, Application and Region
Core Drivers and Opportunities:
Restraining Factors & Market Threats:
• Non-directional Perforating Tools
• Oriented Perforating Tools
Gun Types Covered:
• Through Tubing Hollow Carrier
• Through Tubing Strip
• Tubing Conveyed Perforating
• Wireline Conveyed Casing
Well Types Covered:
• Horizontal & Deviated Well
• Vertical Well
Explosive Types Covered:
• Hexanitrosilbene (HNS)
• Cyclotrimethylene Trinitramine (RDX)
• Cyclotetramethylene Trinitramine (HMX)
• Up to 3,000 ft.
• 3,000–8,000 ft.
• Above 8,000 ft.
Well Pressures Covered:
• Low Pressure Perforating Gun
• High Pressure Perforating Gun
Carrier Types Covered:
• Expandable Shaped Charged Gun
• Retrievable/Hollow Carrier
• Semi-Expendable Gun
• North America
o Rest of Europe
• Asia Pacific
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o South Africa
o Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2019, 2020, 2021, 2025 and 2028
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
o Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances
Key Questions Answered In The Report
The Global Perforating Gun Market is majorly driven by increase in the average well depth, increased shale gas exploration, and rising oil & gas production.
The horizontal & derivated well segment is growing at a highest CAGR due to the increasing well development activities and technological advancements.
North America dominated with a significant market share due to increasing oil & gas activities in the region and increased investments in the upstream oil & gas sector.
Asia Pacific market is growing at a highest CAGR due to ongoing investments in shale gas exploration and the increase in demand for energy in Asia Pacific, especially in China and India.
Key players in Perforating Gun Market include Baker Hughes, Core Laboratories, Dynaenergetics , Halliburton, Hunting PLC, National Oilwell Varco , Oiltech Service , Promperforator, Schlumberger, Shaanxi Fype Rigid Machinery , Tassaroli, Weatherford, Yellow Jacket Oil Tool , and Zao Ntf Perfotech.
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