Global Perforating Gun Market 2019-2023

Below are some of the key findings from this perforating gun market analysis report

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Global perforating gun industry overview

The rise in oil and gas E&P activities is driving the global perforating gun market. There has been a steady rise in oil and gas E&P activities, owing to the gradual growth in the profit margins for the E&P companies. Moreover, the unconventional oil and gas E&P activities are also rising ever since crude oil prices started recovering in the market. This increases the demand for perforating guns, as it is used for punching holes in the well casing and cement sheath, for successfully completing the well projects, which in turn, drives its market.

The increasing applications of IoT in the oil and gas industry are positively impacting the global perforating gun market. The integration of automation and IoT in the oil and gas industry improve its efficiency and reduces the safety concerns, which drives several end-users to invest in the market. Thus, the rise in oil and gas E&P activities coupled with the increasing applications of IoT in oil and gas industry is driving the perforating gun market growth at a CAGR of more than 5% during the forecast period.

Top perforating gun companies covered in this report

The global perforating gun market is highly fragmented. The market is in the growth phase and the competition is expected to become more intense by the end of the forecast period. By offering a complete analysis of the market’s competitive landscape and with information on the products offered by the companies, this perforating gun industry analysis report will aid clients to identify new growth opportunities and design new growth strategies.

The report offers a detailed analysis of several leading perforating gun companies including:

• Baker Hughes
• Halliburton
• Hunting
• National Oilwell Varco
• Schlumberger

 Perforating gun market segmentation based on application

• Offshore
• Onshore

The onshore segment has the largest application of the global perforating gun market share in 2018. The market share of this segment will continue to dominate the market throughout the next five years.

Perforating gun market segmentation based on region

• The Americas
• APAC
• EMEA

The Americas accounted for the largest perforating gun market share in 2018. This region will witness an increase in its market share and remain the market leader for the next five years.

Key highlights of the global perforating gun market for the forecast years 2019-2023:

• CAGR of the market during the forecast period 2019-2023
• Detailed information on factors that will accelerate the growth of the perforating gun market during the next five years
• Precise estimation of the global perforating gun market size and its contribution to the parent market
• Accurate predictions on upcoming trends and changes in consumer behavior
• The growth of the perforating gun industry across the Americas, APAC, and EMEA
• A thorough analysis of the market’s competitive landscape and detailed information on several vendors
• Comprehensive details on factors that will challenge the growth of perforating gun companies