Horizontal Segment is Expected to Dominate the Global Perforating Gun Market.
According to
TechSci Research report, “Global Perforating Gun Market
- Industry Size, Share, Trends, Competition Forecast & Opportunities, 2028”. Global Perforating Gun is anticipated to project robust growth in the
forecast period with a CAGR of 4.75% through 2028. The oil & gas industry, since its
inception, has been experiencing rapid changes in the methods, modes, and
materials used for production and delivery. Presently, with maturing
conventional oil and gas reserves, the need for substitute resources, which could
efficiently meet the rising energy demand, is growing. The discovery of
unconventional oil and gas resources has proved helpful in meeting the
requirements for clean and efficient energy sources. Unconventional oil &
gas resources are generally oil or natural gas resources, that do not appear in
traditional formations and require specialized extraction or production
techniques.
Unconventional oil and gas resources typically include shale gas, tight
gas, coalbed methane (CBM), shale oil, tight oil, and natural gas hydrates.
These resources are not chemically different from conventional oil and gas
resources. The distinction stems from their attributes and characteristics with
respect to reservoir rock type, oil and gas origin, occurrence state, position
underground or from the unusual nature of their reservoirs.
Browse over xx market data
Figures spread through 188 Pages and an in-depth TOC on " Global Perforating Gun Market.”
Based on Well Type, Horizontal
segment is expected to hold the largest share of Perforating Gun market during
the forecast period, The horizontal well development is gaining popularity,
owing to the benefits associated with the same and technological advancements
that have led to the increased economic viability.
Drilling in shale reserves
involves directional or horizontal drilling, which leads to increased contact
with the pay zone, as well as advanced production. Hence, a growing focus on
unconventional reserves is expected to be a significant driver for the
perforating gun market during the forecast period.
With a growing trend of
multilateral wells, the demand for horizontal drilling activity is increasing
in offshore regions, which, in turn, is driving the global market.
Technological innovations and the increasing efficiency of horizontal drilling
and multi-stage hydraulic fracturing technologies are unlocking vast
unconventional shale and tight hydrocarbon resources worldwide, especially in
North America.
In 2021, horizontal wells
accounted for about 93% of the US crude oil production. This, along with
upcoming horizontal well projects, is expected to support the growth of the
segment in the upcoming years.
Based on Region, North
America is expected to dominate the market during the forecast period. Drilling activities in North America have
increased amid the rising oil and gas demand. The shift from vertical to
horizontal wells is the most significant change over the last decade in the
region, allowing for greater formation access while only incrementally
increasing the cost of the well. The surge in drilling activities has created
optimism in the North American oil and gas market and hence may be considered a
good sign for perforating gun markets.
The North American rig count
reached 740 in 2021. The United States accounted for 569 rigs comprising 552
land rigs, 15 offshore rigs, and two inland water rigs, and Canada's rig count
currently stands at 171, including 106 oil rigs and 65 gas rigs, respectively.
Therefore, increasing drilling activities would increase the demand for
perforating activity.
Crude oil production per day
in the United States has increased by 10% since 2014, mainly due to increased
exploitation of shale reserves through horizontal drilling and hydraulic
fracturing. Permian is the leading one of the highest investments among basins
due to its low wellhead breakeven price compared to other basins. Permian
accounted for the largest share of the new oil produced in recent times.
Key market players in the Global
Perforating Gun Market are following: -
- Baker Hughes Company
- Schlumberger Limited
- Weatherford International PLC
- NOV Inc.
- Halliburton Company
- Hunting PLC
- DMC Global Inc.
- DynaEnergetics GmbH & Co KG
- China Shaanxi FYPE Rigid Machinery
Co. Ltd
- Core Laboratories NV
Download Sample Report
Customers can also request for 10% free
customization on this report.
“The global
perforating gun market is driven by increasing oil and gas exploration, rising
energy demand, technological advancements, focus on unconventional resources,
and the need for well intervention. The industry benefits from a surge in
deepwater exploration, favorable government policies, and geopolitical
stability. Additionally, innovations, environmental considerations, and safety
concerns contribute to the market's growth, while economic trends and global
demand for energy shape the trajectory of perforating gun adoption in the
dynamic oil and gas sector.” said Mr. Karan Chechi, Research Director with
TechSci Research, a research-based global management consulting firm.
Perforating Gun Market – Global Industry Size,
Share, Trends, Opportunity, and Forecast Segmented by Gun Type (Through Tubing
Hollow Carrier & Exposed, Wireline Conveyed Casing, TCP), Well Type (Horizontal,
Vertical), Application (Onshore, Offshore), By Region, By Competition 2018-2028 has evaluated
the future growth potential of Global Perforating Gun Market and provides
statistics and information on market structure, size, share, and future growth.
The report is intended to provide cutting-edge market intelligence and help
decision makers take sound investment decisions. Besides, the report also
identifies and analyzes the emerging trends along with essential drivers,
challenges, and opportunities present in the Global Perforating Gun Market.
Contact
TechSci Research
LLC
420 Lexington
Avenue,
Suite 300, New
York,
United States-
10170
M: +13322586602
Email:
[email protected]
Website: https://www.techsciresearch.com