The US perforating gun market is expected to exhibit a growth rate (CAGR) of 5.4% during 2023-2028.
A perforating gun refers to a device that provides adequate flow communication between the cased wellbore and a productive reservoir. It comes in different configurations, lengths, as well as diameters and has four components, a conveyance for the shaped charge, an individual-shaped charge, detonating cord, and a detonator. Some of the commonly available types of perforating gun include hollow carrier guns, through-tubing strips, wireline conveyed casing, tubing conveyed perforating, etc. The perforating gun is lowered to a planned depth and shape charges are fired to create tunnels from the casing into a reservoir. As a result, it is widely used to pierce oil and gas wells for production operations.
US Perforating Gun Market Trends:
The significant expansion of the oil and gas industry is primarily driving the United States perforating gun market. In line with this, the increasing exploration and production of unconventional oil and gas resources, including shale gas and ultra-deepwater reserves, is also propelling the demand for perforating guns. Moreover, the emerging popularity of multilateral wells along with the escalating need for horizontal drilling activity in offshore regions to open tight hydrocarbon resources is further augmenting the United States market. Besides this, the widespread adoption of numerous innovative well drilling process, such as hydraulic fracturing which uses water under pressure to fracture the rock and release trapped gases, is also catalyzing the demand for perforating guns. Additionally, the U.S government is heavily investing in R&D activities for introducing various sustainable options for oil extraction which is acting as a significant growth-inducing factor. In the coming years, continuous technological advancements to increase the uptake of standard oilfield equipment for improving the extraction rate and reperforation of old wells, are expected to drive the United States perforating gun market in the coming years.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the US perforating gun market report, along with forecasts for the period 2023-2028. Our report has categorized the market based on gun type, depth, well type and well pressure.
Breakup by Gun Type:
- Wireline Conveyed Casing
- Through Tubing Hollow Carrier
- Through Tubing Strip
- Tubing Conveyed Perforating
Breakup by Depth:
- Up to 3000 ft
- 3000-8000 ft
- Above 8000 ft
Breakup by Well Type:
Breakup by Well Pressure:
- High Pressure
- Low Pressure
The competitive landscape of the industry has also been examined along with the profiles of the key players being Baker Hughes, Core Laboratories, DynaEnergetics, Fhe USA, Halliburton, Hunting Plc, NOV Inc., Schlumberger, Weatherford and Yellow Jacket Oil Tools.
|Base Year of the Analysis
||Gun Type, Depth, Well Type, Well Pressure
||Baker Hughes, Core Laboratories, DynaEnergetics, Fhe USA, Halliburton, Hunting Plc, NOV Inc., Schlumberger, Weatherford and Yellow Jacket Oil Tools
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Key Questions Answered in This Report:
- How has the US perforating gun market performed so far and how will it perform in the coming years?
- What has been the impact of COVID-19 on the US perforating gun market?
- What is the breakup of the market based on the gun type?
- What is the breakup of the market based on the depth?
- What is the breakup of the market based on the well type?
- What is the breakup of the market based on the well pressure?
- What are the various stages in the value chain of the industry?
- What are the key driving factors and challenges in the industry?
- What is the structure of the US perforating gun market and who are the key players?
- What is the degree of competition in the industry?