Global Perforating Gun Market Major Players 2024, Forecast To 2033
23 Feb, 2024
The perforating gun market has grown steadily, rising from $1.1 billion in 2023 to $1.15 billion in 2024, with a 5.0% CAGR. This growth is attributed to oil and gas exploration and global economic conditions. Forecasts indicate further growth to $1.45 billion in 2028, driven by rising energy demand and environmental regulations. Major trends include digitalization, automation, and customization.
Global Perforating Gun Market Key Driver
The perforating gun market is poised for growth with the increasing demand for oil. As petroleum product production increased by 15.5% in May 2021 over May 2020, the demand for perforating guns, used in oil wells for creating channels between the pay zone and the wellbore, is expected to rise.
Get A Free Sample Of The Global Perforating Gun Market ReportGlobal Perforating Gun Market Segments
The perforating gun market covered in this report is segmented –
1)By Carrier Type: Hollow Carrier, Expandable Shaped Charged Gun, Other Types
2)By Explosive Types: Cyclotrimethylene Trinitramine (RDX), Cyclotetramethylene Trinitramine (HMX), Hexanitrosilbene (HNS)
3)By Pressure: High Pressure, Low Pressure
4)By Application: Onshore, Offshore
By Geography: The regions covered in the template market report are Asia-Pacific, Western Europe, Eastern Europe,North America, South America, Middle East, and Africa. Among these regions.
North Americawas the largest region in the perforating gun market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the perforating gun market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
Major Perforating Gun Industry Players
Baker Hughes Company; DMC Global Inc.; G&H Diversified Manufacturing LP; Halliburton Company; Hunting PLC; Schlumberger NV; Tassaroli S. A.; Weatherford International Ltd.; Shaanxi FYPE Rigid Machinery Co. Ltd.; Core Laboratories N. V.; Northern Colorado Manufacturing LLC; Oiltech Service Pte Ltd.; Hunt & Hunt Ltd.; Zao NTF Perfotech; ZZ Top Oil Tools Co. Ltd.; Promperforator LLC; NOV Inc.; FHE LLC; Oso Perforating LLC; Dyna-energetics GmbH & Co. KG; Landsea Technical Services Pte Ltd.; Körber AG; HG Farley LaserLab Co.; Tervita; Iljin Steel Corporation; Light Spirit Ltd.; Joo Sung Sea & Air Co. Ltd.; Apergy LLC; Trican Well service Ltd.; Toyo Engineering Corporation
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Perforating Gun Market Overview
A perforating gun is a tool used to create holes in oil and gas wells prior to production. Perforating guns are available in a variety of sizes and combinations. Through-tubing guns and hollow-carrier, or casing, guns are the two main types of gun systems. Hollow-carrier guns are larger than through-tube guns, allowing for larger charges, more phasing possibilities, and better shot density.
Perforating Gun Global Market Report 2023 provides data on the global perforating gun market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The perforating gun market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.