Market Research Report
Perforating Gun Market by Gun Type (Wireline Conveyed, Tubing Hollow Carrier, Tubing Strip, Tubing Conveyed), Depth (Up to 3000ft, 3000-8000ft, Above 8000ft), Well Type (Horizontal, Vertical), Well Pressure (High, Low), Region - Global Forecast to 2022
|Published by||MarketsandMarkets||Product code||576584|
|Published||Content info||151 Pages
Delivery time: 1-2 business days
|Perforating Gun Market by Gun Type (Wireline Conveyed, Tubing Hollow Carrier, Tubing Strip, Tubing Conveyed), Depth (Up to 3000ft, 3000-8000ft, Above 8000ft), Well Type (Horizontal, Vertical), Well Pressure (High, Low), Region - Global Forecast to 2022|
|Published: November 3, 2017||Content info: 151 Pages||
The perforating gun market is projected to reach USD 898.7 million by 2022, at a CAGR of 3.71%, from 2017 to 2022. The increase in oil & gas production, increased shale exploration, growing complexity of reservoir conditions, and increase in average well depth over the years are the major drivers of the perforating gun market.
The increase in demand for oil and scarcity of supply due to a drop in oil production by OPEC and non-OPEC countries to stabilize oil prices has led to investments in the upstream oil & gas activities. The major oil & gas companies see the increasing demand as an opportunity for their upstream businesses, which will ultimately drive the perforating gun market. Increasing focus on renewable energy resources for producing electricity could hinder the oil & gas industry, which could impact the market for perforating guns.
The wireline conveyed casing gun sub-segment is estimated to be the largest gun type market during the forecast period.
There are various advantages of wireline conveyed casing guns over other 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 ratings, high electrical and mechanical reliability, minimal casing damage, and minimal debris. These guns provide functions such as instant shot detection, multi-phasing, and variable shot densities of 1 to 12 shots per foot. These factors are expected to drive the wireline conveyed casing gun market.
The market in North America is expected to be the fastest-growing market for perforating guns, closely followed by the Middle East. The US, Canadian, and Mexican governments are looking to invest heavily in the upstream oil & gas industry to reduce imports and move toward self-sustainability.
In-depth interviews have been conducted with various key industry participants, subject-matter experts, C-level executives of key market players, and industry consultants, among other experts, to obtain and verify critical qualitative and quantitative information, as well as to assess future market prospects. The distribution of primary interviews is as follows:
Note: The tier of the companies has been defined on the basis of their total revenue; as of 2015: Tier 1 ≥USD 20 billion, Tier 2 = USD 10 billion to USD 20 billion, and Tier 3 ≤USD 10 billion.
The leading players in the perforating gun market include Baker Hughes (US), Schlumberger (US), Halliburton (US), Weatherford (US), National Oilwell Varco (US), DynaEnergetics (Germany), Hunting (UK), and Yellow Jacket Oil Tools (US).
The report defines, describes, and forecasts the global perforating gun market by gun type, well type, well depth, well pressure, and region. It also offers a detailed qualitative and quantitative analysis of the market. The report provides a comprehensive review of the major market drivers, restraints, opportunities, challenges, and key issues. It also covers various important aspects of the market.
*Details on Overview, Strength of Product Portfolio, Business Strategy Excellence, Recent Developments, MnM View Might Not Be Captured in Case of Unlisted Companies.