The global perforating gun market is anticipated to grow at a CAGR of 5.3% during the forecast period. The growing energy demand globally has augmented the exploration activities for oil and gas. The growth in exploration and production of unconventional oil & gas resources is the major factor for the high demand for perforating guns. As per the International Energy Agency (IEA), World Energy Outlook, unconventional oil production is anticipated to witness an upsurge from 1.8 mb/d in 2008 to 7.4 mb/d by 2030. In addition, renewable energy use increased by 3% in 2020 due to a 7% growth in electricity generation from renewable sources as per IEA.org. About 11.2% of the energy consumed globally for heating, power, and transportation came from modern renewables which comprise biomass, geothermal, solar, hydro, wind, and biofuels. This has led to an increase in renewable energy sources exploration activities which has further boosted the adoption of perforating guns by oil and gas companies.
Browse the full report description of “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)” at https://www.omrglobal.com/industry-reports/perforating-gun-market
Globally, many oil and gas companies are spending on new gas field discoveries for overcoming the challenges associated with hydrocarbon production which is creating opportunities for well drilling activities followed by production activities, which is expected to create demand for perforation gun services. For instance, Russian state company Gazprom is set to spend the most on new gas fields ($124 billion), with Qatar Energy second ($56 billion) and Total Energies next ($32 billion) as per the IPCC report.
Market Coverage
• The market number available for – 2021-2028
• Base year- 2021
• Forecast period- 2022-2028
• Segment Covered-
o By Gun Type
o By Well Type
o By Application
• Regions Covered-
o North America
o Europe
o Asia-Pacific
o Rest of the World
Competitive Landscape- Baker Hughes Co., DMC Global Inc., G&H Diversified Manufacturing, Halliburton Co., Hunting PLC, National Oilwell Varco Inc., among others.
• Key questions addressed by the report
• What is the market growth rate?
• Which segment and region dominate the market in the base year?
• Which segment and region will project the fastest growth in the market?
• How COVID-19 impacted the market?
o Deviation from the pre-COVID-19 forecast
o Most affected regions and segment
• Who is the leader in the market?
• How players are addressing challenges to sustain growth?
• Where is the investment opportunity?
Global Perforating Gun Market Report by Segment
Global Perforating Gun Market by Gun Type
o Tubing Hollow Carrier & Exposed
o Wireline Conveyed Casing
o Tubing Conveyed Perforation System (TCP)
Global Perforating Gun Market by Well Type
Global Perforating Gun Market by Application
Global Perforating Gun Market Report by Region
North America
• United States
• Canada
Europe
• UK
• Germany
• Italy
• Spain
• France
• Rest of Europe
Asia-Pacific
• China
• India
• Japan
• Rest of Asia-Pacific
Rest of the World
• Latin America
• Middle East & Africa
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