Perforating Gun Market
Perforating Gun Market Size, Share, and Trends Analysis Report, By Gun Type (Through Tubing Hollow Carrier & Exposed, Wireline Conveyed Casing, and TCP), By Well Type (Horizontal and Vertical), By Application (Onshore and Offshore), Forecast Period (2022-2028)
Perforating gun market is anticipated to grow at a CAGR of 5.3% during the forecast period. Perforating guns are used in many industries but are commonly found in the oil and gas well industries. In the oil well industry, perforating guns are a standard tool used in connecting pipelines. A perforating gun is used to create openings in casings used in oil and gas well drilling. These guns generally hold several explosive-shaped charges to create the type of openings called for in opening different types and sizes of casings. The increasing demand from oil and gas well industries due to rising demand and consumption has increased the market growth. Moreover, upstream gas and LNG investments by the government is further likely to surge demand for perforating gun during the forecast period. For instance, the Government has adopted several policies to fulfill the increasing demand. According to IEA (India Energy Outlook 2021), primary energy demand is expected to nearly double to 1,123 million tonnes of oil equivalent, as India's gross domestic product (GDP) is expected to increase to $8.6 trillion by 2040. The investment will increase the number of oil and gas projects across the country along with the high demand for perforating guns.
Segmental Outlook
The global perforating gun market is segmented based on gun type, well type, and application. Based on gun type, the market is segmented into tubing hollow carrier & exposed, wireline conveyed casing, TCP, and others. Among these, the tubing hollow carrier gun system accounts for the highest market share in the global perforating gun market. For gun ODs of 2 7/8 in and larger, tubing hollow carrier guns perform better than exposed guns because they use larger charges with optimized phasing and increased shot density due to this, they are highly demanding in digging applications in oil and mining. Based on well type, the market is categorized into horizontal and vertical. Based on application, the market is segregated into onshore and offshore.
Regional Outlook
Geographically, the global market is classified into four major regions including North America (the US and Canada), Europe (UK, Germany, France, Italy, Spain, and the Rest of Europe), Asia-Pacific (India, China, Japan, South Korea, and Rest of Asia-Pacific), and Rest of the World (Latin America and the Middle East and Africa (MEA)). Asia-Pacific is projected to hold a considerable share of the market during the market growth. The regional growth is attributed to the increased demand for high precession equipment in offshore and onshore applications owing to the rising demand for oil and gas. Apart from these, the planned exploration and production in Asia-Pacific are further expected to drive the demand for perforating guns for oil well piercing. On the other hand, North America will hold the second-largest share after Europe in perforating gun market.
Global Perforating Gun Market Growth, By Region 2022-2028
Europe to Showcase Significant Share in Perforating Gun Market
Europe is projected to be hold significant market share in 2021. The major factors that are contributing a significant share to the growth of the market include the government support provided to the local manufacturers and distributors to increase perforating gun business and sales. The European Union has launched various initiatives to aid perforating gun producers and distributors with R&D. Apart from these, the manufacturing companies operating in perforating gun market have increased the market growth with innovation and the development of new products. For instance, Schlumberger introduced the Tempo instrumented docking perforating gun system at the SPE/ICoTA Coiled Tubing and Well Intervention Conference and Exhibition.
Market Players Outlook
The major market players in the global perforating gun market include Baker Hughes Co., DMC Global Inc., G&H Diversified Manufacturing, Halliburton Co., Hunting PLC, and National Oilwell Varco Inc., among others. The market players are also contributing significantly to the growth of the market by the adoption of various strategies including mergers and acquisitions, geographical expansion, partnerships, collaborations, and new product launches, to stay competitive in the market. For instance, in June 2020, DynaEnergetics, a business of DMC Global Inc. launched DS Echo, a perforating system designed for re-frac operations in unconventional oil and gas wells. DS Echo is equipped with EchoFrac DS Echo is the latest addition to DynaEnergetics’ expanding line of DS Factory-assembled, Performance-assured perforating systems. shaped charges, which were developed specifically for re-frac applications.
The Report Covers
- Market value data analysis of 2021 and forecast to 2028.
- Annualized market revenues ($ million) for each market segment.
- Country-wise analysis of major geographical regions.
- Key companies operating in the global perforating gun market. Based on the availability of data, information related to pipeline products, and relevant news is also available in the report.
- Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
- Analysis of market-entry and market expansion strategies.
- Competitive strategies by identifying ‘who-stands-where’ in the market.
1. Report Summary
1.1. Research Methods and Tools
1.2. Market Breakdown
1.2.1. By Segments
1.2.2. By Region
2. Market Overview and Insights
2.1. Scope of the Report
2.2. Analyst Insight & Current Market Trends
2.2.1. Key Findings
2.2.2. Recommendations
2.2.3. Conclusion
3. Competitive Landscape
3.1. Key Company Analysis
3.1.1. Overview
3.1.2. Financial Analysis
3.1.3. SWOT Analysis
3.1.4. Recent Developments
3.2. Key Strategy Analysis
4. Market Segmentation
4.1. Global Perforating Gun Market by Gun Type
4.1.1. Tubing Hollow Carrier & Exposed
4.1.2. Wireline Conveyed Casing
4.1.3. Tubing Conveyed Perforation System (TCP)
4.2. Global Perforating Gun Market by Well Type
4.2.1. Horizontal
4.2.2. Vertical
4.3. Global Perforating Gun Market by Application
4.3.1. Onshore
4.3.2. Offshore
5. Regional Analysis
5.1. North America
5.1.1. US
5.1.2. Canada
5.2. Europe
5.2.1. UK
5.2.2. Germany
5.2.3. Italy
5.2.4. Spain
5.2.5. France
5.2.6. Rest of Europe
5.3. Asia-Pacific
5.3.1. China
5.3.2. India
5.3.3. Japan
5.3.4. South Korea
5.3.5. Rest of Asia-Pacific
5.4. Rest of the World
6. Company Profiles
6.1. Baker Hughes Co
6.2. Core Laboratories N.V.
6.3. DMC Global, Inc.
6.4. FHE USA
6.5. G & H Diversified Manufacturing L.P.
6.6. Halliburton Energy Services, Inc.
6.7. Hunt & Hunt Ltd
6.8. Hunting PLC
6.9. Landsea Group
6.10. National Oilwell Varco Inc.
6.11. Northern Colorado Manufacturing, LLC
6.12. Oiltech Service Pte, Ltd.
6.13. Schlumberger Ltd
6.14. Shaanxi FYPE Rigid Machinery Co. Ltd
6.15. Tassaroli S.A
6.16. Weatherford International, Ltd.
1. GLOBAL PERFORATING GUN MARKET RESEARCH AND ANALYSIS BY GUN TYPE, 2021-2028 ($ MILLION)
2. GLOBAL TUBING HOLLOW CARRIER & EXPOSED PERFORATING GUN MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028 ($ MILLION)
3. GLOBAL WIRELINE CONVEYED CASING PERFORATING GUN MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028 ($ MILLION)
4. GLOBAL TCP GUN MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028 ($ MILLION)
5. GLOBAL PERFORATING GUN MARKET RESEARCH AND ANALYSIS BY WELL TYPE, 2021-2028 ($ MILLION)
6. GLOBAL HORIZONTAL PERFORATING GUN MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028 ($ MILLION)
7. GLOBAL VERTICAL PERFORATING GUN MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028 ($ MILLION)
8. GLOBAL PERFORATING GUN MARKET RESEARCH AND ANALYSIS BY APPLICATION, 2021-2028 ($ MILLION)
9. GLOBAL PERFORATING GUN FOR ONSHORE MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028 ($ MILLION)
10. GLOBAL PERFORATING GUN FOR OFFSHORE MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028 ($ MILLION)
11. GLOBAL PERFORATING GUN MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028 ($ MILLION)
12. NORTH AMERICAN PERFORATING GUN MARKET RESEARCH AND ANALYSIS BY COUNTRY, 2021-2028 ($ MILLION)
13. NORTH AMERICAN PERFORATING GUN MARKET RESEARCH AND ANALYSIS BY GUN TYPE, 2021-2028 ($ MILLION)
14. NORTH AMERICAN PERFORATING GUN MARKET RESEARCH AND ANALYSIS BY WELL TYPE, 2021-2028 ($ MILLION)
15. NORTH AMERICAN PERFORATING GUN MARKET RESEARCH AND ANALYSIS BY APPLICATION, 2021-2028 ($ MILLION)
16. EUROPEAN PERFORATING GUN MARKET RESEARCH AND ANALYSIS BY COUNTRY, 2021-2028 ($ MILLION)
17. EUROPEAN PERFORATING GUN MARKET RESEARCH AND ANALYSIS BY GUN TYPE, 2021-2028 ($ MILLION)
18. EUROPEAN PERFORATING GUN MARKET RESEARCH AND ANALYSIS BY WELL TYPE, 2021-2028 ($ MILLION)
19. EUROPEAN PERFORATING GUN MARKET RESEARCH AND ANALYSIS BY APPLICATION, 2021-2028 ($ MILLION)
20. ASIA-PACIFIC PERFORATING GUN MARKET RESEARCH AND ANALYSIS BY COUNTRY, 2021-2028 ($ MILLION)
21. ASIA-PACIFIC PERFORATING GUN MARKET RESEARCH AND ANALYSIS BY GUN TYPE, 2021-2028 ($ MILLION)
22. ASIA-PACIFIC PERFORATING GUN MARKET RESEARCH AND ANALYSIS BY WELL TYPE, 2021-2028 ($ MILLION)
23. ASIA-PACIFIC PERFORATING GUN MARKET RESEARCH AND ANALYSIS BY APPLICATION, 2021-2028 ($ MILLION)
24. REST OF THE WORLD PERFORATING GUN MARKET RESEARCH AND ANALYSIS BY COUNTRY, 2021-2028 ($ MILLION)
25. REST OF THE WORLD PERFORATING GUN MARKET RESEARCH AND ANALYSIS BY GUN TYPE, 2021-2028 ($ MILLION)
26. REST OF THE WORLD PERFORATING GUN MARKET RESEARCH AND ANALYSIS BY WELL TYPE, 2021-2028 ($ MILLION)
27. REST OF THE WORLD PERFORATING GUN MARKET RESEARCH AND ANALYSIS BY APPLICATION, 2021-2028 ($ MILLION)
1. GLOBAL PERFORATING GUN MARKET SHARE BY GUN TYPE, 2021 VS 2028 (%)
2. GLOBAL PERFORATING GUN MARKET SHARE BY WELL TYPE, 2021 VS 2028 (%)
3. GLOBAL PERFORATING GUN MARKET SHARE BY APPLICATION, 2021 VS 2028 (%)
4. GLOBAL PERFORATING GUN MARKET SHARE BY REGION, 2021 VS 2028 (%)
5. GLOBAL TUBING HOLLOW CARRIER & EXPOSED PERFORATING GUN MARKET SHARE BY REGION, 2021 VS 2028 (%)
6. GLOBAL WIRELINE CONVEYED CASING PERFORATING GUN MARKET SHARE BY REGION, 2021 VS 2028 (%)
7. GLOBAL TCP GUN MARKET SHARE BY REGION, 2021 VS 2028 (%)
8. GLOBAL HORIZONTAL WELL PERFORATING GUN MARKET SHARE BY REGION, 2021 VS 2028 (%)
9. GLOBAL VERTICAL PERFORATING GUN MARKET SHARE BY REGION, 2021 VS 2028 (%)
10. GLOBAL PERFORATING GUN FOR ONSHORE MARKET SHARE BY REGION, 2021 VS 2028 (%)
11. GLOBAL PERFORATING GUN FOR OFFSHORE MARKET SHARE BY REGION, 2021 VS 2028 (%)
12. US PERFORATING GUN MARKET SIZE, 2021-2028 ($ MILLION)
13. CANADA PERFORATING GUN MARKET SIZE, 2021-2028 ($ MILLION)
14. UK PERFORATING GUN MARKET SIZE, 2021-2028 ($ MILLION)
15. FRANCE PERFORATING GUN MARKET SIZE, 2021-2028 ($ MILLION)
16. GERMANY PERFORATING GUN MARKET SIZE, 2021-2028 ($ MILLION)
17. ITALY PERFORATING GUN MARKET SIZE, 2021-2028 ($ MILLION)
18. SPAIN PERFORATING GUN MARKET SIZE, 2021-2028 ($ MILLION)
19. REST OF EUROPE PERFORATING GUN MARKET SIZE, 2021-2028 ($ MILLION)
20. INDIA PERFORATING GUN MARKET SIZE, 2021-2028 ($ MILLION)
21. CHINA PERFORATING GUN MARKET SIZE, 2021-2028 ($ MILLION)
22. JAPAN PERFORATING GUN MARKET SIZE, 2021-2028 ($ MILLION)
23. SOUTH KOREA PERFORATING GUN MARKET SIZE, 2021-2028 ($ MILLION)
24. REST OF ASIA-PACIFIC PERFORATING GUN MARKET SIZE, 2021-2028 ($ MILLION)
25. REST OF THE WORLD PERFORATING GUN MARKET SIZE, 2021-2028 ($ MILLION)
