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    Perforating Guns Market Size, Share & Forecast

    Perforating Guns Market Size, Share & Forecast
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    Perforating Guns Market Size, Share, Trend, Forecast, & Industry Analysis.
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    Perforating Guns Market is likely to witness an impressive CAGR of 4.1% during the forecast period. Surge in oil and gas production, rise in the average well depth over the years, increasing complexity of reservoir conditions, and growing shale gas exploration are the major factors bolstering the perforating guns market.

    Perforating Guns Market - Snapshot

    Growth

    4.1% for the next five years

    Major Well Type

    Vertical

    Major Gun Type

    Through Tubing Hollow Carrier

    Dominant Well Pressure Type

    Low Pressure

    Dominant Depth Type

    Above 8,000 ft.

    Region with the highest demand

    North America

    Key Players

    Schlumberger (US), Weatherford (US), Baker Hughes (US), Halliburton (US), and DynaEnergetics (US).

     

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    Perforating Guns Market Share: By Well Type

    Based on the well type, the market is segmented as horizontal and vertical. The horizontal segment is estimated to register a higher growth during the forecast period driven by increasing reperforation of old wells which require multiple perforations for a single well from the same reservoir. The segment’s growth is driven by the advanced techniques in the upstream sector and the rising demand for oil & gas. However, in some cases, oil & gas operators are dependent upon vertical drill wells, where the oil/gas reserves are available at a short depth from the surface. Further, vertical wells are the most preferred form of wells as they can be further converted into unconventional wells once oil production starts decreasing. These factors are likely to drive the vertical well segment in the coming years.

    Perforating Guns Market Share: By Gun Type

    Based on the gun type, the market is segmented as Through Tubing Hollow Carrier, Wireline Conveyed Casing, Through Tubing Strip, and Tubing Conveyed Perforating. Through tubing hollow carrier guns dominated the market in 2019. The segment is most widely used and is expected to remain the leader during the forecasted period.

    Perforating Guns Market Share: By Well Pressure Type

    Based on the well pressure type, the perforating guns market is segmented as high and low well pressure. The high-pressure wells are aggressive in nature. Apart from current developments in well technology, the instruments are unable to sustain the high pressure and high temperatures in these wells. High pressure and high temperature wells need special instruments and materials. They also seek extra preventive measures and experience as they are considered volatile reservoir environments. Hence, the requirement for instruments for high pressure environments provides companies the opportunity to customize perforating guns using special materials. Regions such as North America and Asia Pacific are expected to drive the market for perforating guns mostly due to ongoing investments in shale gas exploration.

    Perforating Guns Market Share: By Depth Type

    Based on the depth type, the market is categorized as up to 3,000 ft., 3,000-8,000 ft., and above 8,000 ft. The perforating guns generally have penetration of 45-48 in length and shoot from 3 to 13 shots per foot.

    Perforating Guns Market Share: By Region

    In terms of regions, North America is estimated to dominate the perforating guns market during the forecast period. In 2019, approximately 250m barrels of oil was discovered in the Glengorm reservoir. The discovery of oil and gas reserves is expected to form a platform for the sales of perforating guns in Europe and North America. In Asia-Pacific, China has discovered high yield and high-quality oil flow in the Bohai Sea, which is driving the growth of the market during the forecast period.

    Some of the major players in the perforating guns market are Schlumberger (US), Weatherford (US), Baker Hughes (US), Halliburton (US), and DynaEnergetics (US). The leading suppliers are trying to understand the markets in developing economies and are adopting various strategies to increase their market shares.

     

    Market Scope & Segmentation

    Perforating Guns are the devices which are used to drill and make holes in wells for the efficient production of oil and gas.

    Perforating Guns use the methods that help in greater control of the well. They also permit in precise selection of location, where the production will be able to seal off perforations, which are no longer counterproductive, through straddling.

    This report studies the market covering a period of 12 years of trend and forecast. The report provides detailed insights into the market dynamics to enable informed business decision making and growth strategy formulation based on the opportunities present in the market.

    Perforating Guns Market Research Report - Features

    Market Segmentation

    5

    Regions Covered

    4

    Countries/Sub-Regions Covered

    15

    No. of Figures & Tables

    >150

    Company Profiles

    10

     

    The perforating guns market is segmented into the following categories. 

    Perforating Guns Market Size, Share, & Forecast, by Well Type:

    • Horizontal (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Vertical (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)

    Perforating Guns Market Size, Share, & Forecast, by Gun Type:

    • Through Tubing Hollow Carrier (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Wireline Conveyed Casing (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Through Tubing Strip (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Tubing Conveyed Perforating (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)

    Perforating Guns Market Size, Share, & Forecast, by Well Pressure Type:

    • High Pressure (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Low Pressure (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)

    Perforating Guns Market Size, Share, & Forecast, by Depth Type:

    • Up to 3,000 ft. (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • 3,000-8,000 ft. (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Above 8,000 ft. (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)

    Perforating Guns Market Size, Share, & Forecast, by Region:

    • North America (Country Analysis: the USA, Canada, and Mexico) 
    • Europe (Country Analysis: Germany, France, the UK, Russia, and Rest of Europe)
    • Asia-Pacific (Country Analysis: China, Japan, India, and Rest of Asia-Pacific)
    • Rest of the World (Sub-Region Analysis: Latin America, the Middle East, and Others)

     

    Research Methodology

    This report offers high-quality insights and is the outcome of detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders and validation and triangulation with Stratview Research’s internal database and statistical tools. More than 800 authenticated secondary sources, such as company annual reports, fact book, press release, journals, investor presentation, white papers, patents, and articles have been leveraged to gather the data. We conducted more than 10 detailed primary interviews with the market players across the value chain in all four regions and with industry experts to obtain both the qualitative and quantitative insights.

     

    Report Features

    This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision making for the existing market players as well as those willing to enter the market. The following are the key features of the report:

    • Market structure: Overview, industry life cycle analysis, supply chain analysis
    • Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis
    • Market trend and forecast analysis
    • Market segment trend and forecast
    • Competitive landscape and dynamics: Market share, product portfolio, product launches, etc.
    • Attractive market segments and associated growth opportunities
    • Emerging trends
    • Strategic growth opportunities for the existing and new players
    • Key success factors

     

    Report Customization Options

    With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:

    Company Profiling

    • Detailed profiling of additional market players (up to 3 players)
    • SWOT analysis of key players (up to 3 players)

    Market Segmentation

    • Current market segmentation of any one of the well types by well pressure type.  

    Competitive Benchmarking

    • Benchmarking of key players on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances

    Custom Research: Stratview Research offers custom research services across sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry at [email protected]


    General Frequently Asked Questions (FAQs)

    What are Perforating Guns?

    Perforating Guns are the devices that are used to drill and make holes in wells for the efficient production of oil and gas. Perforating Guns use the methods that help in greater control of the well. They also permit in a precise selection of location, where the production will be able to seal off perforations, which are no longer counterproductive, through straddling.

    What will be the CAGR of the Perforating Guns Market?

    Perforating Guns Market is likely to witness an impressive CAGR of 4.1% during the forecast period. A surge in oil and gas production, a rise in the average well depth over the years, increasing the complexity of reservoir conditions, and growing shale gas exploration are the major factors bolstering the perforating guns market.

    Which country/region is expected to remain the largest Perforating Guns Market?

    In terms of regions, North America is estimated to dominate the perforating guns market during the forecast period.

    Who are the key players in the Perforating Guns Market?

    Some of the major players in the perforating guns market are Schlumberger (US), Weatherford (US), Baker Hughes (US), Halliburton (US), and DynaEnergetics (US). The leading suppliers are trying to understand the markets in developing economies and are adopting various strategies to increase their market shares.

    •