The perforating gun market size is expected to see strong growth in the next few years. It will grow to $1.45 billion in 2028 at a compound annual growth rate (CAGR) of 5.8%. The growth in the forecast period can be attributed to rising energy demand, emerging markets, environmental regulations, shale gas exploration. Major trends in the forecast period include increased focus on unconventional reservoirs, digitalization and automation, customization and tailored solutions, integration of data analytics, eco-friendly solutions.
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Scope Of Perforating Gun Market
The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Market Drivers –
The increasing demand for oil is expected to fuel the growth of the perforating gun market going forward. The demand of petroleum products is influenced by several factors such as economic growth, population growth, and rising income levels. In the context of oil wells, a perforation is a hole drilled in an oil well’s casing or liner to link it to the reservoir. Making a channel between the pay zone and the wellbore to allow oil and gas to flow readily to the wellbore. For instance, in May 2021, according to a report published by the Petroleum Planning & Analysis Cell (Ministry of Petroleum & Natural Gas), the petroleum product production increased by 15.5% in May 2021 over May 2020. Therefore, the increasing oil demand will drive the growth of the perforating gun market.
Market Trends –
Product innovations have emerged as the key trend gaining popularity in the 5G chipset market. The major players in the market are developing innovative products for market growth. For instance, in June 2021, Samsung Electronics, a South Korea-based electronics company, developed 3GPP Rel.16 compliant chipsets, a range of next-generation 5G chipsets that deliver cutting-edge 5G technologies. The new chipsets consist of a second-generation 5G modem System-on-Chip (SoC), a third-generation mmWave Radio Frequency Integrated Circuit (RFIC) chip, and a Digital Front End (DFE)-RFIC integrated chip. These are designed to increase power efficiency, boost performance, and reduce the size of 5G solutions.
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
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Regional Insights –
North America was 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
Key Companies –
Major companies operating in the perforating gun market report are 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
Table of Contents
1. Executive Summary
2. Perforating Gun Market Report Structure
3. Perforating Gun Market Trends And Strategies
4. Perforating Gun Market – Macro Economic Scenario
5. Perforating Gun Market Size And Growth
…..
27. Perforating Gun Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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