DUBLIN, November 17, 2017 /PRNewswire/ --
The "Perforating Gun Market - Global Forecast to 2022" report has been added to Research and Markets' offering.
The global perforating gun market is projected to grow at a CAGR of 3.71%, during the forecast period, from an estimated USD 749.0 Million in 2017 to a projected USD 898.7 Million by 2022.
This growth can be attributed to an increase in oil & gas production, increased shale gas exploration, growing complexity of reservoir conditions, and increase in the average well depth over the years.
The report segments the perforating gun market, by gun type, into wireline conveyed casing, through tubing hollow carrier, through tubing strip, and tubing conveyed perforating. Tubing conveyed perforating segment is expected to account for the largest share of the perforating gun market, by gun type, as it has been effectively used for many years in various applications such as perforation in underbalanced conditions, high angle/horizontal well perforation, and coiled tubing used as a perforating string. In North America, investments in shale gas exploration made in the US, Canada, and Mexico would provide attractive opportunities for the perforating gun market.
The perforating gun market has been segmented, by well type, into vertical and horizontal. The horizontal segment is expected to grow at the highest CAGR, from 2017 to 2022, due to increasing reperforation of old wells which require multiple perforations for a single well from the same reservoir.
In this report, the perforating gun market has been analyzed with respect to 6 regions, namely, North America, Europe, Asia Pacific, the Middle East, South America, and Africa. North America is projected to dominate the global perforating gun market by 2022 due to increasing oil & gas activities in the region. The market in North America is also expected to grow at the highest CAGR from 2017 to 2022. This growth is attributed to increased investments in the upstream oil & gas sector, especially in the US. This will ultimately create an opportunity for the perforating gun market.
The declining number of newly drilled wells, where perforating guns are widely used, could be a restraint for the market.
The leading players in the perforating gun market include Schlumberger (US), Baker Hughes (US), Weatherford (US), Halliburton (US), and DynaEnergetics (US). Contracts & agreements was the strategy most commonly adopted by top players, accounting for 57.1% of the total developments, from 2014 to June 2017. It was followed by new product developments, mergers & acquisitions, and expansions.
Key Topics Covered:
2 Research Methodology
3 Executive Summary
4 Premium Insights
4.1 Perforating Gun Market, By Country
4.2 Perforating Gun Market, By Well Type
4.3 Perforating Gun Market, By Well Pressure
4.4 Perforating Gun Market, By Gun Type
4.5 North American Perforating Gun Market
5 Market Overview
5.2 Market Dynamics
188.8.131.52 Rising Oil & Gas Production
184.108.40.206 Increase in the Average Well Depth Over the Years
220.127.116.11 Growing Complexity of Reservoir Conditions
18.104.22.168 Increased Shale Gas Exploration
22.214.171.124 Declining Number of Newly Drilled Wells
126.96.36.199 Increasing Focus on Renewable Energy
188.8.131.52 Advances in Perforation Technology
184.108.40.206 Reperforation of Old Wells
220.127.116.11 Anti-Terrorism Regulations Restricting the Use of New Explosives
18.104.22.168 Success Rate of Exploration
5.3 Perforating Gun Market Ecosystem
5.3.1 Equipment Manufacturers
5.3.2 Systems Providers
5.3.3 Oilfield Operators
6 Perforating Gun Market, By Gun Type
6.2 Through Tubing Hollow Carrier
6.3 Wireline Conveyed Casing
6.4 Through Tubing Strip
6.5 Tubing Conveyed Perforating
7 Perforating Gun Market, By Depth
7.2 Up to 3,000 ft.
7.3 3,000-8,000 ft.
7.4 Above 8,000 ft.
8 Perforating Gun Market, By Well Type
9 Perforating Gun Market, By Well Pressure
9.2 High Pressure
9.3 Low Pressure
10 Perforating Gun Market, By Region
11 Competitive Landscape
12 Company Profiles
- Baker Hughes
- Core Laboratories
- FHE USA
- Hunting PLC
- National Oilwell Varco
- Oiltech Service
- Shaanxi Fype Rigid Machinery
- Yellow Jacket Oil Tool
- Zao Ntf Perfotech
For more information about this report visit https://www.researchandmarkets.com/research/5kzz94/perforating_gun
Laura Wood, Senior Manager
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SOURCE Research and Markets