Global Perforating Gun Market: Overview
The main objective of a perforating gun is to offer an effective communication between a cased wellbore and a productive reservoir. In order to accomplish this, the perforating gun “punches” a pattern of perforations through the casing and cement sheath and into the productive formation.
The perforating gun is comprised of a conveyance for the shaped charge, the separate shaped charge, detonating cord, and detonator. A report by TMR Research examines the global perforating gun market in depth by factoring in historical and current facts and figures. It studies the size of the market, the prominent trends shaping its trajectory, and the competitive dynamics. To that end it carries out both primary and secondary research and leverages market-leading analytical tools.
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Global Perforating Gun Market: Key Trends
The increase in oil and gas production, exhaustive shale exploration, more complicated reservoirs, and increase in average of well depth are catalyzing demand in the global perforating gun market. In the near future, the wireline conveyed casing gun sub-segment is expected to account for maximum share in the market. This is because wireline conveyed casing guns steal a march over others such as through tubing strip, through tubing hollow carrier, tubing conveyed perforating, etc. on account of their affordable prices. Besides, high charge performance, high pressure and temperature ratings, impressive mechanical and electrical reliability, reduced casing damage, and lessened debris have also served to up their demand. These guns facilitate multi-phasing, instant shot detection, and different shot densities of 1 to 12 shots per foot. All these are predicted to boost the wireline conveyed casing guns market.
The vertical well segment is the main driver of demand in the global perforating gun market. This is because most oil and gas operators, till date, depend upon vertical wells which are most preferred since they can be broken or fractured and then converted into tailor-made wells once production lessens. The horizontal well segment trails the vertical one in terms of generating demand.
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Global Perforating Gun Market: Market Potential
Achieving higher efficiency in perforation systems can bring down operating costs, especially when completing long horizontal wellbores in unconventional plays. Realizing this, many companies are expending time and money in coming with more sophisticated systems. For instance, the DynaStage perforating system, designed by DynaEnergetics – a prominent provider of well perforating systems to the oil and gas industry – leverages a new technology to address the firing system and a better mechanical design which reduces human error. The system can function more effectively than its traditional counterparts and also has extra safety features, which facilitates well site operations alongside the perforation process.
Global Perforating Gun Market: Regional Outlook
From a geographical standpoint, North America is one of the key regions in the global perforating gun market on account of the booming shale gas drilling rigs in the region. The Middle East is another key market on account of the presence of numerous oil wells in the region.
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Global Perforating Gun Market: Competitive Analysis
Some of the key equipment manufacturers worldwide operating in the perforating gun ecosystem market are National Oilwell Varco, DynaEnergetics, Hunting, and Yellow Jacket Oil Tools. Some of the systems providers are Baker Hughes, Schlumberger, Halliburton, and Weatherford.