Perforating Gun Market by Gun Type, Well Type, Application, Pressure, Depth, Type, Orientation, Explosives and Region - Global Forecast to 2027 - ResearchAndMarkets.com

The "Global Perforating Gun Market by Gun Type (Through Tubing Hollow Carrier & Exposed, Wireline Conveyed Casing, TCP), Well Type (Horizontal, Vertical), Application (Onshore, Offshore), Pressure, Depth, Type, Orientation, Explosives, Region - Forecast to 2027" report has been added to ResearchAndMarkets.com's offering.

The global perforating gun market is projected to reach USD 1.4 billion by 2027 from an estimated market size of USD 1.1 billion in 2022, at a CAGR of 5.6% during the forecast period.

Tubing Conveyed perforation system gun type segment dominates the global market

The perforating gun market, by gun type, is segmented into through tubing hollow carrier gun system, wireline conveyed casing gun system, through tubing exposed gun system and tubing conveyed perforation system. The tubing conveyed perforation system is estimated to have the largest market share. The versatile nature and the high operational efficiency of these gun systems are expected to drive through tubing perforation system, which consequently increases the demand of perforating gun.

Onshore segment to lead the global perforating gun market

The onshore application segment holds the largest share in the perforating gun market, followed by offshore. Onshore exploration and re-exploration activities is expected to fuel the growth of onshore perforating gun market during the forecast period.

North America dominates the global perforating gun market in terms of annual growth rate

The North America region is estimated to be the largest market for the perforating gun market, followed by Asia Pacific. The Asia Pacific region is projected to be the fastest-growing market during the forecast period. The growth of the North American perforating gun market is expected to be driven by increasing E&P activities concerned with shale and tight oil reserves.

Market Dynamics

Drivers

• Rising Exploration and Production of Unconventional Oil & Gas Resources, Especially in North America
• Growing Need for Maximizing Production Potential of Mature Oil and Gas Fields Through Re-Perforation
• Increasing Global Oil Demand

Restraints

• Decline in Capital Expenditure of Oilfield Operators and Service Providers
• Introduction of Stringent Regulations by Governments Pertaining to Upstream Activities

Opportunities

• Growth in Oilfield Discoveries
• Digitalization and Automation

Challenges

• Disruptions in Upstream Oil and Gas Operations and Demand Shock due to COVID-19
• Transition Toward Adoption of Renewable Energy Sources

Companies Mentioned

• Schlumberger Limited
• Weatherford
• Baker Hughes
• Halliburton
• Nov Inc.
• Core Laboratories
• Expro Group
• Hunting plc
• Dynaenergetics
• Xi'an Zz Top Oil Tools Co., Ltd
• Tassaroli S.A.
• Fhe Usa LLC
• LLC Promperforator
• Landsea Technical Services Pte. Ltd.
• G&H Diversified Manufacturing, L.P.
• Shaanxi Fype Rigid Machinery Co., Ltd.
• Northern Colorado Manufacturing, LLC
• Oiltech Services
• Hunt & Hunt Ltd
• Schweitzer-Mauduit International Inc

For more information about this report visit https://www.researchandmarkets.com/r/s76fo2

View source version on businesswire.com: https://www.businesswire.com/news/home/20220322005877/en/