The global perforating gun market is estimated to grow at a CAGR of approximately 4%, during the period of forecast. Increase in oil & gas production, shale gas exploration, rising complexity of reservoir conditions, and average good depth over time are factors that are expected to drive the market.
The declining number of newly drilled wells is a restraint for the market. A decline in the number of newly drilled wells and increasing focus on the use of renewable energy sources are factors that can potentially have a negative impact on the perforating gun market.
Perforating Gun Market: Gun Type/Depth Insights
On the basis of the gun type the market is segmented into through tubing hollow carrier, the wireline conveyed casing, tubing conveyed perforating, and through tubing strip. Tubing conveyed perforating segment is expected to account for the largest share of the perforating gun market. Tubing-conveyed perforating (TCP) are used extensively as they have the ability to perforate at very long intervals.
TCP is the only means of accessing perforating depth in highly deviated & horizontal wells. It has also been effectively used for many years in various applications such as perforation in underbalanced conditions, high angle/horizontal well perforation, and coiled tubing used as a perforating string.
Perforating Gun Market: Well Type/ Well Pressure Insights
On the basis of well type, the market is segmented into vertical and horizontal. The horizontal segment is expected to grow at the highest CAGR during the forecast period, owing to increasing reperforation of old wells that require multiple perforations for a single well from the same reservoir.
Perforating Gun Market: Regional Insights
North America is estimated to dominate the global perforating gun market by 2025 due to increasing oil & gas activities in the region. This market is also expected to grow the fastest during the period of forecast. Investments in shale gas exploration in the US, Canada, and Mexico can potentially create new opportunities for the perforating gun market. This growth is expected to take place due to increased investments in the upstream oil & gas sector, especially in the US. This will ultimately create opportunities for the perforating gun market.
Perforating Gun Market: End-Use Landscape
The end-use landscape entails a list of current and prospective consumers prevailing across the regions. This section provides company addresses, contact details, products, and regional presence of companies who are purchasing or are likely to purchase Perforating Gun over the coming years. Some leading consumers of this market are Royal Dutch Shell, Chevron, and Exxon Mobil among others.
Perforating Gun Market: Vendor Landscape
The report contains a chapter dedicated to vendors operating in the market, covering raw material manufactures, equipment developers, manufacturers, and distributors. The report provides these insights on a regional level. This section of the report entails contact details, experience, products manufactured/supplied, and geographical presence of companies.
Perforating Gun Market Share & Competitor Analysis
The leading players in the perforating gun market include Schlumberger, Promperforator, Core Laboratories, The USA, Tassaroli, Baker Hughes, Core Laboratories, Weatherford, Halliburton, and Dyna Energetics.
In March 2018, Schlumberger launched the Tempo instrumented docking perforating gun system, that integrates real-time advanced downhole measurements and plug-in gun design to create clean perforations that enhance reservoir productivity.
In January 2018, Weatherford sold its pump-down perforating and pressure pumping facilities and supplier & customer contracts to Schlumberger. Companies are entering into contracts & agreements, introducing new products and considering mergers & acquisitions in order to cater to the growing market.
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