The perforating gun market is expected to grow at a CAGR of 3.71%, from 2017 to 2022, to reach a market size of USD 898.7 million by 2022. Rising oil and gas production, increase in the average well depth over the years, growing complexity of the reservoir condition and increased shale gas exploration are the major factors driving the perforating gun market.
Browse 77 Market Data Tables and 38 Figures spread through 149 Pages and in-depth TOC on “Perforating Gun Market”
The perforating gun market is mainly driven by the increase in the average well depth over the years. The conventional oil & gas reservoirs are depleting. The new reservoirs are found deep below the earth’s surface. The various methods such as reperforation, drilling of unconventional oil wells, and increasing oil production in hostile reservoir environments with the help of advanced technologies are carried out to meet the oil & gas demand. Thus, the need for technically efficient and advanced perforating guns is increasing to meet the requirements of drilling operators.
The wireline conveyed casing gun segment is expected to be the fastest-growing perforating gun market, by gun type, from 2017 to 2022. There are various advantages to wireline conveyed casing guns over wireline guns which make them the preferred choice in most well formations. These include high charge performance, low cost of the gun, high pressure and temperature rating, and high mechanical and electrical reliability.
The report segments the perforating gun market, by well type, into horizontal wells and vertical wells. The horizontal well segment is expected to be the fastest-growing market. The segment is mainly driven by factors such as growing complexity of reservoir conditions over the years, environmental reforms, and technological advances. Horizontal wells require multiple perforations, thus, driving the market for perforating guns.
Download PDF Brochure@ https://www.marketsandmarkets.com/pdfdownload.asp?id=135152126
The report also segments the perforating gun market, by well depth, into up to 3000 ft., 3000–8000 ft., and above 8000 ft. The 3000–8000 ft. segment is expected to be the largest market, from 2017 to 2022, and is expected to grow at the fastest rate. The market in North America is expected to be the fastest-growing market for perforating guns, closely followed by the Middle East. The Middle East market is primarily driven by countries such as Kuwait, Qatar, and Saudi Arabia. The governments of these countries are looking to invest heavily in the upstream oil industry.
MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.
Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the “Growth Engagement Model – GEM”. The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write “Attack, avoid and defend” strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.
MarketsandMarkets’s flagship competitive intelligence and market research platform, “Knowledgestore” connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.
Mr. Shelly Singh
630 Dundee Road
Northbrook, IL 60062
USA : 1-888-600-6441