San Francisco, California, March 19, 2018: A recent market study by TMR Research, titled, “Perforating Gun Market – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2017–2025,” finds that the burgeoning oil and gas production, unstoppable shale exploration, more complex reservoirs, and increasing average depth of wells are some of factors serving to drive growth in the market.
The report finds that the wireline conveyed casing gun sub-segment holds out maximum potential in the market since they outshine others such as through tubing hollow carrier, through tubing strip, tubing conveyed perforating, etc. owing to their affordability. In addition, USPs such as high charge performance, solid electrical and mechanical reliability, high pressure and temperature ratings, lessened casing damage, and reduced debris are also leading to their greater uptake. The wireline conveyed casing gun sub-segment brings about multi-phasing and instant shot detection. It also helps to achieve shot densities of 1 to 12 shots per foot. Hence, the segment is expected to contribute substantially to the wireline conveyed casing guns market.
At present, the segment of vertical well is serving to drive maximum demand in the global marlet for perforating gun. This is because vertical wells are mostly preferred by oil and gas operators because they can be fractured or broken to be transformed into customized wells once production comes down. The vertical well segment is trailed by the horizontal one vis-à-vis demand generation.
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Geographically, North America is an attractive market in the global market for perforating gun because of the soaring shale gas drilling in the region. Another key region in the market is the Middle East which is home to a multitude of oil wells.
Some of the prominent participants in the global market for perforating gun are DynaEnergetics, National Oilwell Varco, Yellow Jacket Oil Tools, and Hunting. Prominent system providers in the market include Schlumberger, Baker Hughes, Weatherford, and Halliburton.