Perforating Gun Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2017 - 2025

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Perforating Gun Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2017 - 2025

Status : August, 2020 | Semiconductor & Electronics | PPT format

Report Digest


Global Perforating Gun Market: Overview

The main objective of a perforating gun is to offer an effective communication between a cased wellbore and a productive reservoir. In order to accomplish this, the perforating gun “punches” a pattern of perforations through the casing and cement sheath and into the productive formation.

The perforating gun is comprised of a conveyance for the shaped charge, the separate shaped charge, detonating cord, and detonator. A report by TMR Research examines the global perforating gun market in depth by factoring in historical and current facts and figures. It studies the size of the market, the prominent trends shaping its trajectory, and the competitive dynamics. To that end it carries out both primary and secondary research and leverages market-leading analytical tools.

Global Perforating Gun Market: Key Trends

The increase in oil and gas production, exhaustive shale exploration, more complicated reservoirs, and increase in average of well depth are catalyzing demand in the global perforating gun market. In the near future, the wireline conveyed casing gun sub-segment is expected to account for maximum share in the market. This is because wireline conveyed casing guns steal a march over others such as through tubing strip, through tubing hollow carrier, tubing conveyed perforating, etc. on account of their affordable prices. Besides, high charge performance, high pressure and temperature ratings, impressive mechanical and electrical reliability, reduced casing damage, and lessened debris have also served to up their demand. These guns facilitate multi-phasing, instant shot detection, and different shot densities of 1 to 12 shots per foot. All these are predicted to boost the wireline conveyed casing guns market.

The vertical well segment is the main driver of demand in the global perforating gun market. This is because most oil and gas operators, till date, depend upon vertical wells which are most preferred since they can be broken or fractured and then converted into tailor-made wells once production lessens. The horizontal well segment trails the vertical one in terms of generating demand.

Global Perforating Gun Market: Market Potential

Achieving higher efficiency in perforation systems can bring down operating costs, especially when completing long horizontal wellbores in unconventional plays. Realizing this, many companies are expending time and money in coming with more sophisticated systems. For instance, the DynaStage perforating system, designed by DynaEnergetics – a prominent provider of well perforating systems to the oil and gas industry – leverages a new technology to address the firing system and a better mechanical design which reduces human error. The system can function more effectively than its traditional counterparts and also has extra safety features, which facilitates well site operations alongside the perforation process.

Global Perforating Gun Market: Regional Outlook

From a geographical standpoint, North America is one of the key regions in the global perforating gun market on account of the booming shale gas drilling rigs in the region. The Middle East is another key market on account of the presence of numerous oil wells in the region.

Global Perforating Gun Market: Competitive Analysis

Some of the key equipment manufacturers worldwide operating in the perforating gun ecosystem market are National Oilwell Varco, DynaEnergetics, Hunting, and Yellow Jacket Oil Tools. Some of the systems providers are Baker Hughes, Schlumberger, Halliburton, and Weatherford.

The study presents a granular assessment and quantitative evaluation of:

  • Key growth factors and prominent trends
  • Size and share of key segments in overall market
  • Key challenges and winning imperatives
  • Factors shaping competitive landscape
  • Insights into how contours of market will change in coming years
  • Technological advances
  • New avenues and imminent investment pockets
  • Regulatory landscape shaping current and future strategies of companies

The region-wise assessment includes market dynamics in:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The study is prepared with the help of an extensive primary and secondary research. Primary research includes but not limited to interactions, interviews, surveys, and events. Opinions of policy makers and industry experts are carefully integrated into the insights to complement primary research. Volumes of secondary data gleaned through renowned paid sources, annual statements, reputed journals, and government documents offer insights into current dynamics and key evolution trajectories the market is likely to assume. The research employs various industry-wide analytics methods and well-established methodologies to ascertain the attractiveness of key segments. Further, it evaluates the lucrativeness of key regions and factors underlying their maturity. The insights notably include a detailed analysis of forces behind vendor differentiation and offers insight into investment-decision making by prominent players.

The report strives to enlighten businesses and industry stakeholders on multiple facets of the growth dynamic of the market, the key of which include answers to:

  • Which key factors will shape the competitive landscape?
  • Which trends will stimulate research and development activities in different geographies?
  • Which are the lucrative growth areas and what is the size of potential they are likely contribute to the overall market?
  • Which disruptions in market growth are likely to come with the new business models?
  • Which are some of the recent overhauls in policies that may change the course of the market significantly?
  • Which are the geographies that will form sizable sources of new streams to new and established players alike?
  • How are top players likely to realign their strategy to counter the forces of competition?
  • Which key strategies emerging players are likely to focus on to consolidate their position?
  • Which changes in end-user preferences might affect the status quo held by the leading players?
  • Which are some of the game-changing innovations influencing the projected share and revenue of the market and its segments?

Note: Utmost care has invariably been taken to present data and arrive at statistics at all the TMR Research reports. Meanwhile, some recent developments and new industry trends may take time to be included in the reports.