Perforating Gun Market

Perforating Gun Market by Gun Type (Through Tubing Hollow Carrier & Exposed, Wireline Conveyed Casing, TCP), Well Type (Horizontal, Vertical), Application (Onshore, Offshore), Pressure, Depth, Type, Orientation, Explosives, Region - Global Forecast to 2027

Report Code: EP 5695 Mar, 2022, by marketsandmarkets.com

[224 Pages Report] The global perforating gun market is estimated at USD 1,103 million in 2022 and is projected to reach USD 1,448 million by 2027, growing at a CAGR of 5.6% during the forecast period. The rising exploration and production of unconventional oil & gas resources, especially in the North American region, is the major factor driving the growth of the perforating gun market.

Perforating Gun Market

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COVID-19 Impact on the Perforating gun Market

The outbreak of the COVID-19 pandemic has severely affected both the service and manufacturing sectors. The global economy has witnessed a slowdown in growth as most countries globally have imposed nationwide lockdowns to prevent a further spike in the spread of the virus. According to the World Bank, the pandemic has triggered deep recessions; it is expected to leave a long-lasting impact on the global economy due to the decline in investments and disruptions in global trade and supply chains. The growth of the perforating gun market was also affected due to the shutdown of manufacturing activities and the decline in demand for commercial services in 2020. It led to a decrease in the demand for perforating guns in the residential, commercial, and industrial sectors. The pandemic crisis has led to a complete halt of construction and industrial activities globally, which has hampered the demand for perforating guns. Delays in the delivery of air conditioners and perforating guns have been witnessed due to disruptions in the logistic network. In the European Union, HVAC production lines were halted for several weeks, and new installation projects have been delayed. However, financial support by the governments to manufacturers and distributors of perforating guns is expected to reduce the impact of the pandemic crisis on the market players.

Perforating gun Market Dynamics

Driver: Rising exploration and production of unconventional oil & gas resources, especially in the North American region

The oil & gas industry, since its inception, has been experiencing rapid changes in the methods, modes, and materials used for production and delivery. Presently, with maturing conventional oil and gas reserves, the need for substitute resources, which could efficiently meet the rising energy demand, is growing. The discovery of unconventional oil and gas resources has proved helpful in meeting the requirements for clean and efficient energy sources. Unconventional oil & gas resources are generally oil or natural gas resources, that do not appear in traditional formations and require specialized extraction or production techniques. Unconventional oil and gas resources typically include shale gas, tight gas, coalbed methane (CBM), shale oil, tight oil, and natural gas hydrates. These resources are not chemically different from conventional oil and gas resources. The distinction stems from their attributes and characteristics with respect to reservoir rock type, oil and gas origin, occurrence state, position underground or from the unusual nature of their reservoirs.

Although the remaining global conventional resources are still abundant, and their production is sufficient to meet current needs, unconventional oil & gas resources are gradually becoming valuable and attracting more interest due to the increasing price of oil. Unconventional oil & gas resources are being utilized more and more as decades of oil and natural gas production have resulted in extensive use of conventional resources. As per International Energy Agency (IEA) World Energy Outlook, the unconventional oil production is projected to increase from 1.8 mb/d in 2008 to 7.4 mb/d by 2030. By 2035, the world's unconventional oil production is expected to account for 15.3% of the world's total oil production. Hence, the increasing production of unconventional oil & gas paves way for extensive exploration and production activities, which ultimately propels the demand for perforating gun across the exploration sites.

The majority of shale reserves are based in North America, with the US dominating the regional market, and in some parts of Europe and Asia. According to the International Energy Agency (IEA), shale production in the US alone is expected to cross 100 million barrels per day. According to the US Energy Information Administration (EIA), the US oil production from seven major shale formations witnessed a rise of about 29,000 barrels per day (bpd) in January 2020, which is ~9.14 million barrels per day of shale oil production. The increasing shale oil and gas production from the North Dakota basin, Montana’s Bakken formations, and Permian basin, and the rising shale developments are responsible for the shale boom in the US, making it the largest oil-producing country in the world, ahead of Saudi Arabia and Russia. In addition, the Vaca Meurta shale basin in Argentina is one of the largest shale reservoirs in the world. Argentina has 23 trillion cubic meter shale gas reserves and 27 billion barrels of shale oil.

Restraint: Decline in capital expenditure of oilfield operators and oil & gas service providers

The demand for perforating gun is particularly sensitive to the level of exploration, development, and production activities, and the corresponding capital spending by, oil & natural gas companies. The level of exploration, development, and production activities is directly affected by volatility in oil and natural gas prices. The prices for oil and natural gas are subject to large fluctuations in response to changes in the supply of and demand for oil and natural gas, governmental regulations, including the policies of governments regarding the exploration for and production and development of their oil and natural gas reserves, weather conditions, natural disasters, and a variety of other political, military and economic factors. The oil & gas companies may reduce or defer major expenditures based on the perception of longer-term lower oil and natural gas prices as many large-scale development projects are for a longer duration. The prolonged reductions of crude oil prices or expectations of such reductions could have an adverse effect on the growth of the perforating gun market.

Furthermore, the perforating gun market is directly affected by changes in capital expenditures by the oil & gas service providers. The decline in capital spending could negatively impact the demand for perforating guns.

Opportunities:  Growth in oilfield discoveries

The players operating in the oil & gas industry are focusing on making discoveries as some of the existing fields may create challenges in producing hydrocarbons at an economical rate and require plug and abandonment. Major oil & gas companies have been making extensive discoveries in the onshore and offshore regions. According to the BP Statistical Review of 2020, the world still had unexplored 1,733.9 billion barrels of proven oil reserves by the end of 2019. Such reserves are creating opportunities for well drilling activities followed by production activities, which is expected to create demand for perforation gun services.

The upstream operators made numerous discoveries recently. Among the offshore companies, Talos Energy (US) struck oil at the giant Zama field in its Block 7 offshore Mexico in 2017. Similarly, PEMEX (Mexico) declared discovery in VeraCruz, Mexico, for conventional oil, gas, and other condensates. ExxonMobil (US) declared three oil & gas discoveries that hold approximately 1 billion barrels of oil in Guyana in 2018. Gazprom (Russia) discovered more than 500 billion cubic meters of natural gas in two fields offshore the Yamal Peninsula in the Russian Arctic in May 2019. Similarly, Wintershall DEA (Germany) made a gas/condensate and oil discovery at a well located at the north of the Dvalin field, Norway, in 2021. The Dvalin North offshore field is estimated to hold between 33 and 70 million barrels of oil equivalent. PTTEP (Thailand) made a gas discovery in offshore Malaysia at the exploration well, Kulintang-1, in the Block SK438, located off the coast of Miri, Sarawak, in 2021. In addition, PTTEP discovered resources at Sirung-1 well, in Block SK405B, Dokong-1 wildcat well in Block SK417, and at the Lang Lebah-2 well, in Block SK410B. Shell (Netherlands) made a discovery at the Leopard well in the deep-water US Gulf of Mexico in 2021. Such discoveries have leveraged long-term opportunities for the perforating gun market. Equinor (Norway), in partnership with Total (France) and Vεr Energi (Norway), made an oil and gas discovery in a new segment of the Tyrihans field in the Norwegian Sea with an estimate of 3.0– 4.2 million standard cubic meters of recoverable oil equivalent in 2021. BP (UK), in collaboration with Chevron (US) and Talos Energy (US), declared an oil discovery at the Puma West prospect in the Green Canyon Block 821 in the deep-water US Gulf of Mexico in 2021.

Furthermore, many companies have announced significant discoveries in the African subcontinent. For instance, in 2021, Eni (Italy) made a new light oil discovery in Angola’s deep-water Block 15/06, which is expected to hold approximately 200–250 million barrels of oil. TotalEnergies (France) made a gas condensate discovery on the Brulpadda deep-water exploration well, located on Block 11B/12B in the Outeniqua Basin, off the southern coast of South Africa. The well production process directly creates opportunities for the perforating gun market.

Challenges: Transition towards adoption of renewable energy sources

The motive behind the global economies to reduce their carbon footprint and the emission of greenhouse gases has fueled the transition towards adoption of clean and green energy alternatives. This has led the economies to embrace renewable energy sources such as solar, wind (onshore and offshore), biomass, hydroelectric, and geothermal power for power generation. This transition is further accelerated by the growing energy demand as a result of rapid industrialization and urbanization.

Renewable energy sources are considered to be the fastest growing sector globally, with more renewable energy projects receiving funding than ever before. As the need for clean, sustainable energy increases, and renewable technologies get ever more advanced, more and more projects are being developed in greater sizes and complexities. For instance, the Wudongde Hydropower Station, China. Wudongde Hydropower station has been under construction since 2015 and began producing power in June 2020. The completed dam is scheduled to be fully operational by December 2021. The dam is expected to offset the use of 12.2 million tons of standard coal and reduce CO2 emissions by 30.5 million tons per year, and sulfur dioxide emissions by 104,000 tons per year. The Hornsea Project 2, UK, estimated at a cost of USD 7.8 Billion, has been in development since August 2015 and is expected to be completed by 2022. This project boasts a total installed capacity of 1,386 MW on completion. Further, countries such as Canada, US, India, and UAE, among others are actively investing in renewable energy projects, thus fuelling the adoption of renewable energy sources.

The transition towards the adoption of renewable energy sources, fuelled by the increased investment by the governments of the economies of the world is expected to have an adverse effect on the upstream, midstream and downstream activities of the oil & gas industry, thus, posing a serious challenge to the growth of perforating gun market.

Market Interconnection

Perforating Gun Market by Interconnection

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The high-pressure segment is expected to be the largest segment of the perforating gun market, by pressure, during the forecast period

The perforating gun market, by pressure, is segmented into high pressure and low pressure. The high-pressure segment is estimated to have the largest market share. Technological advancements and rising upstream activities corresponding to deep water and ultra-deep-water wells are expected to further fuel the growth of the high-pressure segment of the perforating gun market.

The 3,001–8,000 ft. depth segment is expected to be the largest segment of the perforating gun market, by depth, during the forecast period

The perforating gun market, by depth, is segmented into up to 3,000 ft., 3,001–8,000 ft. and above 8,000 ft. The 3,001–8,000 ft. segment holds the largest share in the perforating gun market, followed by up to 3,000 ft. Involvement of low CAPEX and OPEX is expected to drive the up to 3,000 ft. well depth segment of the perforating gun market during the forecast period.

The horizontal well segment is expected to be the largest contributor to the perforating gun market, by well type, during the forecast period

The perforating gun market, by well type, is segmented into horizontal wells and vertical wells. The horizontal well segment accounted for the largest share of the perforating gun market in 2021. The enhanced productive capabilities of the horizontal wells have encouraged oilfield operators to pursue upstream activities concerned with horizontal wells, owing to which the segment is expected to occupy the largest share and also grow the fastest, during the forecast period.

Asia Pacific is expected to be the fastest growing region in the global perforating gun market

The Asia Pacific region is projected to be the fastest-growing market during the forecast period. The high growth rate of the region can be attributed to the large presence of mature conventional onshore and offshore oilfields. Furthermore, the development of unconventional resources to offset depleting production in the region is likely to boost the regional market’s growth.

Perforating Gun Market by Region

Key Market Players

The major players in the perforating gun market are Schlumberger Limited (US), Weatherford International (US), Baker Hughes (US), Halliburton (US) and NOV Inc (US). Between 2017 and 2021, the companies adopted growth strategies such as contracts & agreements, investments & expansions, partnerships, collaborations, alliances & joint ventures to capture a larger share of the perforating gun market.

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Scope of the Report

Report Metric

Details

Market size available for years

2020–2027

Base year considered

2021

Forecast period

2022–2027

Forecast units

USD 1,448 million

Segments covered

Type, Gun Type, Orientation, Explosives, Depth, Pressure, Well Type, Application, Region

Geographies covered

North America, South America, Europe, Asia Pacific, Middle East & Africa

Companies covered

Schlumberger Limited (US), Weatherford (US), Baker Hughes (US), Halliburton (US), NOV Inc. (US), Shaanxi FYPE Rigid Machinery Co. Ltd. (China), Northern Colorado Manufacturing, LLC (UK), Oiltech Service Pte (Singapore), Hunt & Hunt Ltd (US), Zao NTF Perfotech (Russia), Core Laboratories (Netherland), Hunting Plc (UK), DMC Global (US), Top Oil Tools Co. Ltd (China), Tassaroli S.A. (Argentina), FHE USA (US), Promperforator (Russia),  Landsea Technical Services Pte Ltd (Singapore), G&H Diversified Manufacturing, LP (US), SWM (US)

This research report categorizes the perforating guns market by type, gun type, orientation, explosives, depth, pressure, well type, application, and region.

On the basis of by type, the market has been segmented as follows:

  • Expendable
  • Semi-expendable
  • Retrievable

On the basis of by gun type, the market has been segmented as follows:

  • Through tubing hollow carrier gun system
  • Wireline conveyed casing gun system
  • Through tubing exposed gun system
  • Tubing conveyed perforation system

On the basis of by orientation, the market has been segmented as follows:

  • Internal
  • External

On the basis of by explosives, the market has been segmented as follows:

  • Cyclotrimethylene Trinitramine (RDX)
  • Cyclotetramethylene Trinitramine (HMX)
  • Hexanitrosilbene (HNS)

On the basis of by depth, the market has been segmented as follows:

  • Up to 3,000 ft.
  • 3,001 – 8,000 ft.
  • Above 8,000 ft.

On the basis of by pressure, the market has been segmented as follows:

  • High Pressure
  • Low Pressure

On the basis of by well type, the market has been segmented as follows:

  • Horizontal Well
  • Vertical Well

On the basis of by application, the market has been segmented as follows:

  • Onshore
  • Offshore

On the basis of region, the market has been segmented as follows:

  • North America
  • South America
  • Europe
  • Asia Pacific
  • Middle East & Africa

Recent Developments

  • In June 2022, Schlumberger entered into Agreement of Collaboration with China Petroleum Logging Co. Ltd. The agreement is to strengthen the Technical and commercial collaboration of these two companies. This will also provide licence CNPC logging for wireline technology manufacturing.
  • In July 2020, Weatherford has signed an 18-month contract with the Iraqi Drilling Company (IDC) to provide services and project management for the drilling and completion of twenty wells in Southern Iraq. As per the contract, IDC will provide rigs, civil works, and drilling services, while Weatherford will provide project management and all other associated services, including well testing.
  • In September 2021, Baker Hughes entered a collaboration with LYTT. By combining cloud-based software and fibre optic data analytics of LYTT and well intervention and completion hardware and expertise in services from Baker Hughes the collaboration will provide new offerings to the customers.
  • In September 2021, Halliburton signed a contract of 3 to 5 years for well completion and drilling campaign with energean. This contract will provide all the services which include directional drilling, cementing, drilling fluid, drill bit, project management, completion, slickline, wireline, solid controls, subsea and production enhancement.

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TABLE OF CONTENTS

1 INTRODUCTION (Page No. - 23)
    1.1 STUDY OBJECTIVES
    1.2 DEFINITION AND SCOPE
           1.2.1 PERFORATING GUN MARKET, BY GUN SYSTEM: INCLUSIONS & EXCLUSIONS
           1.2.2 PERFORATING GUN MARKET, BY WELL TYPE: INCLUSIONS & EXCLUSIONS
    1.3 MARKET SCOPE
           1.3.1 MARKETS COVERED
           1.3.2 REGIONAL SCOPE
           1.3.3 YEARS CONSIDERED
    1.4 CURRENCY
    1.5 LIMITATION
    1.6 STAKEHOLDERS
    1.7 SUMMARY OF CHANGES

2 RESEARCH METHODOLOGY (Page No. - 29)
    2.1 RESEARCH DATA
           FIGURE 1 PERFORATING GUN MARKET: RESEARCH DESIGN
           2.1.1 SECONDARY DATA
                    2.1.1.1 Key data from secondary sources
           2.1.2 PRIMARY DATA
                    2.1.2.1 Key data from primary sources
                    2.1.2.2 Breakdown of primaries
                               FIGURE 2 BREAKDOWN OF PRIMARIES
    2.2 MARKET BREAKDOWN AND DATA TRIANGULATION
           FIGURE 3 DATA TRIANGULATION METHODOLOGY
    2.3 MARKET SIZE ESTIMATION
           2.3.1 BOTTOM-UP APPROACH
                    FIGURE 4 MARKET SIZE ESTIMATION METHODOLOGY: BOTTOM-UP APPROACH
           2.3.2 TOP-DOWN APPROACH
                    FIGURE 5 MARKET SIZE ESTIMATION METHODOLOGY: TOP-DOWN APPROACH
    2.4 IDEAL DEMAND SIDE ANALYSIS
           2.4.1 KEY INFLUENCING FACTORS/DRIVERS
                    2.4.1.1 Well count
                    2.4.1.2 Rig count
                               FIGURE 6 CRUDE OIL PRICE VS. RIG COUNT
                    2.4.1.3 Production
                               FIGURE 7 OPERATIONAL WELL COUNT VS. CRUDE OIL PRODUCTION
                    2.4.1.4 Crude oil prices
                               FIGURE 8 CRUDE OIL PRICE TREND
                    2.4.1.5 Impact of covid-19 on oil & gas activities
           2.4.2 DEMAND SIDE METRICS
                    FIGURE 9 MAIN METRICS CONSIDERED FOR ANALYZING AND ASSESSING DEMAND FOR PERFORATING GUNS
                    2.4.2.1 Assumptions for demand side analysis
    2.5 SUPPLY SIDE ANALYSIS
           FIGURE 10 KEY METRICS CONSIDERED FOR ASSESSING SUPPLY OF PERFORATING GUN MARKET
           FIGURE 11 PERFORATING GUN MARKET: SUPPLY SIDE ANALYSIS
           2.5.1 CALCULATIONS FOR SUPPLY SIDE
           2.5.2 ASSUMPTIONS FOR SUPPLY SIDE
                    FIGURE 12 MARKET SHARE ANALYSIS, 2020
    2.6 FORECAST
    2.7 SCOPE

3 EXECUTIVE SUMMARY (Page No. - 44)
    TABLE 1 PERFORATING GUN MARKET SNAPSHOT
    FIGURE 13 TUBING CONVEYED PERFORATION SYSTEM SEGMENT TO DOMINATE PERFORATING GUN MARKET, BY GUN TYPE, DURING FORECAST PERIOD
    FIGURE 14 3,001–8,000 FT. SEGMENT TO DOMINATE PERFORATING GUN MARKET, BY DEPTH, DURING FORECAST PERIOD
    FIGURE 15 HIGH PRESSURE SEGMENT TO DOMINATE PERFORATING MARKET, BY PRESSURE, DURING FORECAST PERIOD
    FIGURE 16 HORIZONTAL WELL SEGMENT TO HOLD LARGEST SHARE OF PERFORATING GUN MARKET, BY WELL TYPE, DURING FORECAST PERIOD
    FIGURE 17 ONSHORE SEGMENT TO HOLD LARGEST SHARE OF PERFORATING GUN MARKET, BY APPLICATION, DURING FORECAST PERIOD
    FIGURE 18 NORTH AMERICA DOMINATED PERFORATING GUN MARKET IN 2021

4 PREMIUM INSIGHTS (Page No. - 49)
    4.1 ATTRACTIVE OPPORTUNITIES IN PERFORATING GUN MARKET
           FIGURE 19 INCREASING HORIZONTAL DRILLING ACTIVITIES TO DRIVE GROWTH OF PERFORATING GUN MARKET DURING FORECAST PERIOD
    4.2 PERFORATING GUN MARKET IN NORTH AMERICA, BY APPLICATION AND COUNTRY
           FIGURE 20 ONSHORE SEGMENT AND US DOMINATED NORTH AMERICAN PERFORATING GUN MARKET IN 2021
    4.3 PERFORATING GUN MARKET, BY GUN TYPE
           FIGURE 21 TUBING CONVEYED PERFORATION SYSTEM SEGMENT DOMINATED PERFORATING GUN MARKET IN 2021
    4.4 PERFORATING GUN MARKET, BY DEPTH
           FIGURE 22 3,001–8,000 FT. SEGMENT DOMINATED PERFORATING GUN MARKET IN 2021
    4.5 PERFORATING GUN MARKET, BY PRESSURE
           FIGURE 23 HIGH PRESSURE SEGMENT DOMINATED PERFORATING GUN MARKET IN 2021
    4.6 PERFORATING GUN MARKET, BY WELL TYPE
           FIGURE 24 HORIZONTAL WELL SEGMENT DOMINATED PERFORATING GUN MARKET IN 2021
    4.7 PERFORATING GUN MARKET, BY APPLICATION
           FIGURE 25 ONSHORE SEGMENT DOMINATED PERFORATING GUN MARKET IN 2021
    4.8 PERFORATING GUN MARKET, BY REGION
           FIGURE 26 NORTH AMERICA TO REGISTER HIGHEST GROWTH IN PERFORATING GUN MARKET DURING FORECAST PERIOD

5 MARKET OVERVIEW (Page No. - 53)
    5.1 INTRODUCTION
    5.2 COVID-19 HEALTH ASSESSMENT
           FIGURE 27 COVID-19 GLOBAL PROPAGATION
           FIGURE 28 COVID-19 PROPAGATION IN SELECTED COUNTRIES
    5.3 COVID-19 ECONOMIC ASSESSMENT
           FIGURE 29 COMPARISON OF GDP FORECASTS FOR SELECTED G20 COUNTRIES IN 2020
    5.4 MARKET DYNAMICS
           FIGURE 30 PERFORATING GUN MARKET: DRIVERS, RESTRAINTS, OPPORTUNITIES, AND CHALLENGES
           5.4.1 DRIVERS
                    5.4.1.1 Rising exploration and production of unconventional oil & gas resources, especially in North America
                               TABLE 2 TOP COUNTRIES WITH RECOVERABLE SHALE RESOURCES, 2019
                    5.4.1.2 Growing need for maximizing production potential of mature oil and gas fields through re-perforation
                    5.4.1.3 Increasing global oil demand
                               FIGURE 31 GLOBAL OIL DEMAND, 2019–2026
                               TABLE 3 GLOBAL OIL DEMAND (OECD VS NON-OECD), 2019–2026
           5.4.2 RESTRAINTS
                    5.4.2.1 Decline in capital expenditure of oilfield operators and service providers
                               FIGURE 32 CAPITAL EXPENDITURES OF OILFIELD OPERATORS, 2016–2020
                               FIGURE 33 CAPITAL EXPENDITURE OF OIL & GAS SERVICE PROVIDERS, 2016–2020
                    5.4.2.2 Introduction of stringent regulations by governments pertaining to upstream activities
           5.4.3 OPPORTUNITIES
                    5.4.3.1 Growth in oilfield discoveries
                    5.4.3.2 Digitalization and automation
           5.4.4 CHALLENGES
                    5.4.4.1 Disruptions in upstream oil and gas operations and demand shock due to COVID-19
                    5.4.4.2 Transition toward adoption of renewable energy sources
                               FIGURE 34 RENEWABLE CAPACITY ADDITIONS BY COUNTRY/REGION, 2019–2021
    5.5 TRENDS/DISRUPTIONS IMPACTING CUSTOMERS’ BUSINESSES
           5.5.1 REVENUE SHIFT AND NEW REVENUE POCKETS IN PERFORATING GUN MARKET
                    FIGURE 35 REVENUE SHIFT OF PERFORATING GUN PROVIDERS
    5.6 SUPPLY CHAIN ANALYSIS
           FIGURE 36 PERFORATING GUN MARKET: SUPPLY CHAIN ANALYSIS
           TABLE 4 PERFORATING GUN MARKET: SUPPLY CHAIN
           5.6.1 RAW MATERIAL SUPPLIERS
           5.6.2 PERFORATING GUN MANUFACTURERS
           5.6.3 PERFORATING GUN SERVICE PROVIDERS
           5.6.4 OILFIELD OPERATORS
    5.7 MARKET MAP
           FIGURE 37 PERFORATING GUN: MARKET MAP
    5.8 INNOVATIONS & PATENT REGISTRATIONS
    5.9 KEY CONFERENCES & EVENTS BETWEEN 2022 AND 2023
           TABLE 5 PERFORATING GUN MARKET: LIST OF CONFERENCES & EVENTS
    5.10 TECHNOLOGY ANALYSIS
           FIGURE 38 PERFORATION TECHNOLOGY FOR COMPLEX RESERVOIRS, CNPC
    5.11 PERFORATING GUN MARKET: REGULATIONS
           5.11.1 REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
                    TABLE 6 NORTH AMERICA: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
                    TABLE 7 PERFORATING GUN MARKET, REGULATIONS
    5.12 PORTER’S FIVE FORCES ANALYSIS
                    FIGURE 39 PERFORATING GUN MARKET: PORTER’S FIVE FORCES ANALYSIS
                    TABLE 8 PERFORATING GUN MARKET: PORTER’S FIVE FORCES ANALYSIS
           5.12.1 THREAT OF NEW ENTRANTS
           5.12.2 BARGAINING POWER OF SUPPLIERS
           5.12.3 BARGAINING POWER OF BUYERS
           5.12.4 THREAT OF SUBSTITUTES
           5.12.5 DEGREE OF COMPETITION
    5.13 CASE STUDY ANALYSIS
           5.13.1 BAKER HUGHES’S IMPACTFUL PERFORATION SOLUTION IN CASPIAN SEA

6 PERFORATING GUN MARKET, BY TYPE (Page No. - 75)
    6.1 INTRODUCTION
           TABLE 9 COMPANIES TYPE FOOTPRINT
    6.2 EXPENDEBALE
    6.3 SEMI-EXPENDEBALE
    6.4 RETRIEVABLE

7 PERFORATING GUN MARKET, BY ORIENTATION (Page No. - 77)
    7.1 INTRODUCTION
           TABLE 10 COMPANIES ORIENTATION FOOTPRINT
    7.2 INTERNAL
    7.3 EXTERNAL

8 PERFORATING GUN MARKET, BY EXPLOSIVES (Page No. - 79)
    8.1 INTRODUCTION
           TABLE 11 COMPANIES EXPLOSIVES FOOTPRINT
    8.2 CYCLOTRIMETHYLENE TRINITRAMINE (RDX)
    8.3 CYCLOTETRAMETHYLENE TRINITRAMINE (HMX)
           TABLE 12 AVERAGE HOLE SIZE, RDX VS HMX
    8.4 HEXANITROSILBENE (HNS)

9 PERFORATING GUN MARKET, BY GUN TYPE (Page No. - 81)
    9.1 INTRODUCTION
           FIGURE 40 PERFORATING GUN MARKET, BY GUN TYPE, 2021
           TABLE 13 PERFORATING GUN MARKET, BY GUN TYPE, 2016–2019 (USD MILLION)
           TABLE 14 PERFORATING GUN MARKET, BY GUN TYPE, 2020–2027 (USD MILLION)
    9.2 THROUGH TUBING HOLLOW CARRIER GUN SYSTEM
           9.2.1 INCREASING INVESTMENTS IN EXPLORATION OF AND PRODUCTION FROM SHALLOW OFFSHORE WELLS TO FUEL MARKET GROWTH
                    TABLE 15 PERFORATING GUN MARKET FOR THROUGH TUBING HOLLOW CARRIER GUN SYSTEM, BY REGION, 2016–2019 (USD MILLION)
                    TABLE 16 PERFORATING GUN MARKET FOR THROUGH TUBING HOLLOW CARRIER GUN SYSTEM, BY REGION, 2020–2027 (USD MILLION)
    9.3 WIRELINE CONVEYED CASING GUN SYSTEM
           9.3.1 RISING WELL INTERVENTION ACTIVITIES IN DEEP AND ULTRADEEP WELLS TO DRIVE MARKET GROWTH
                    TABLE 17 PERFORATING GUN MARKET FOR WIRELINE CONVEYED CASING GUN SYSTEM, BY REGION, 2016–2019 (USD MILLION)
                    TABLE 18 PERFORATING GUN MARKET FOR WIRELINE CONVEYED CASING GUN SYSTEM, BY REGION, 2020–2027 (USD MILLION)
    9.4 THROUGH TUBING EXPOSED GUN SYSTEM
           9.4.1 RISE IN REPERFORATION OF MATURE OIL AND GAS WELLS TO BOOST DEMAND FOR THROUGH TUBING EXPOSED GUN SYSTEMS
                    TABLE 19 PERFORATING GUN MARKET FOR THROUGH TUBING EXPOSED GUN SYSTEM, BY REGION, 2016–2019 (USD MILLION)
                    TABLE 20 PERFORATING GUN MARKET FOR THROUGH TUBING EXPOSED GUN SYSTEM, BY REGION, 2020–2027 (USD MILLION)
    9.5 TUBING CONVEYED PERFORATION SYSTEM
           9.5.1 VERSATILE NATURE AND HIGH OPERATIONAL EFFICIENCY OF TUBING CONVEYED PERFORATION SYSTEMS TO FUEL THEIR DEMAND
                    TABLE 21 PERFORATING GUN MARKET FOR TUBING CONVEYED PERFORATION SYSTEM, BY REGION, 2016–2019 (USD MILLION)
                    TABLE 22 PERFORATING GUN MARKET FOR TUBING CONVEYED PERFORATION SYSTEM, BY REGION, 2020–2027 (USD MILLION)

10 PERFORATING GUN MARKET, BY DEPTH (Page No. - 88)
     10.1 INTRODUCTION
               FIGURE 41 PERFORATING GUN MARKET, BY DEPTH, 2021
               TABLE 23 PERFORATING GUN MARKET, BY DEPTH, 2016–2019 (USD MILLION)
               TABLE 24 PERFORATING GUN MARKET, BY DEPTH, 2020–2027 (USD MILLION)
     10.2 UP TO 3,000 FT.
             10.2.1 INVOLVEMENT OF LOW CAPEX AND OPEX TO DRIVE MARKET GROWTH
                       TABLE 25 PERFORATING GUN MARKET FOR UP TO 3,000 FT., BY REGION, 2016–2019 (USD MILLION)
                       TABLE 26 PERFORATING GUN MARKET FOR UP TO 3,000 FT., BY REGION, 2020–2027 (USD MILLION)
     10.3 3,001–8,000 FT.
             10.3.1 INCREASING UPSTREAM ACTIVITIES RELATED TO UNCONVENTIONAL OIL AND GAS RESOURCES TO CREATE GROWTH OPPORTUNITIES FOR MARKET
                       TABLE 27 PERFORATING GUN MARKET FOR 3,000–8,000 FT., BY REGION, 2016–2019 (USD MILLION)
                       TABLE 28 PERFORATING GUN MARKET FOR 3,000–8,000 FT., BY REGION, 2020–2027 (USD MILLION)
     10.4 ABOVE 8,000 FT.
             10.4.1 RISING RE-PERFORATION OF MATURE OIL AND GAS WELLS HAVING DEPTH OF ABOVE 8,000 FT. TO BOOST DEMAND FOR PERFORATING GUNS
                       TABLE 29 PERFORATING GUN MARKET FOR ABOVE 8,000 FT., BY REGION, 2016–2019 (USD MILLION)
                       TABLE 30 PERFORATING GUN MARKET FOR ABOVE 8,000 FT., BY REGION, 2020–2027 (USD MILLION)

11 PERFORATING GUN MARKET, BY PRESSURE (Page No. - 93)
     11.1 INTRODUCTION
               FIGURE 42 PERFORATING GUN MARKET, BY PRESSURE, 2021
               TABLE 31 PERFORATING GUN MARKET, BY PRESSURE, 2016–2019 (USD MILLION)
               TABLE 32 PERFORATING GUN MARKET, BY PRESSURE, 2020–2027 (USD MILLION)
     11.2 HIGH PRESSURE
             11.2.1 TECHNOLOGICAL ADVANCEMENTS AND RISING UPSTREAM ACTIVITIES RELATED TO DEEPWATER AND ULTRA-DEEPWATER WELLS TO DRIVE MARKET GROWTH
                       TABLE 33 PERFORATING GUN MARKET FOR HIGH PRESSURE, BY REGION, 2016–2019 (USD MILLION)
                       TABLE 34 PERFORATING GUN MARKET FOR HIGH PRESSURE, BY REGION, 2020–2027 (USD MILLION)
     11.3 LOW PRESSURE
             11.3.1 LESS COMPLEX NATURE OF LOW-PRESSURE WELLS TO DRIVE MARKET GROWTH
                       TABLE 35 PERFORATING GUN MARKET FOR LOW PRESSURE, BY REGION, 2016–2019 (USD MILLION)
                       TABLE 36 PERFORATING GUN MARKET FOR LOW PRESSURE, BY REGION, 2020–2027 (USD MILLION)

12 PERFORATING GUN MARKET, BY WELL TYPE (Page No. - 97)
     12.1 INTRODUCTION
               FIGURE 43 PERFORATING GUN MARKET, BY WELL TYPE, 2021
               TABLE 37 PERFORATING GUN MARKET, BY WELL TYPE, 2016–2019 (USD MILLION)
               TABLE 38 PERFORATING GUN MARKET, BY WELL TYPE, 2020–2027 (USD MILLION)
     12.2 HORIZONTAL WELL
             12.2.1 INCREASING HORIZONTAL WELL DRILLING ACTIVITIES TO DRIVE MARKET GROWTH
                       TABLE 39 PERFORATING GUN MARKET FOR HORIZONTAL WELL, BY REGION, 2016–2019 (USD MILLION)
                       TABLE 40 PERFORATING GUN MARKET FOR HORIZONTAL WELL, BY REGION, 2020–2027 (USD MILLION)
     12.3 VERTICAL WELL
             12.3.1 INCREASING INVESTMENTS IN EXPLORATION AND PRODUCTION OF UNCONVENTIONAL RESOURCES TO FUEL MARKET GROWTH
                       TABLE 41 PERFORATING GUN MARKET FOR VERTICAL WELL, BY REGION, 2016–2019 (USD MILLION)
                       TABLE 42 PERFORATING GUN MARKET FOR VERTICAL WELL, BY REGION, 2020–2027 (USD MILLION)

13 PERFORATING GUN MARKET, BY APPLICATION (Page No. - 101)
     13.1 INTRODUCTION
               FIGURE 44 PERFORATING GUN MARKET, BY APPLICATION, 2021
               TABLE 43 PERFORATING GUN MARKET, BY APPLICATION, 2016–2019 (USD MILLION)
               TABLE 44 PERFORATING GUN MARKET, BY APPLICATION, 2020–2027 (USD MILLION)
     13.2 ONSHORE
             13.2.1 RISING ONSHORE EXPLORATION AND RE-EXPLORATION ACTIVITIES TO FUEL MARKET GROWTH
                       TABLE 45 PERFORATING GUN MARKET FOR ONSHORE, BY REGION, 2016–2019 (USD MILLION)
                       TABLE 46 PERFORATING GUN MARKET FOR ONSHORE, BY REGION, 2020–2027 (USD MILLION)
     13.3 OFFSHORE
             13.3.1 ACHIEVEMENT OF COST AND OPERATIONAL EFFICIENCY THROUGH TECHNOLOGICAL ADVANCEMENTS IN OFFSHORE WELL DRILLING ACTIVITIES TO BOOST MARKET GROWTH
                       TABLE 47 PERFORATING GUN MARKET FOR OFFSHORE, BY REGION, 2016–2019 (USD MILLION)
                       TABLE 48 PERFORATING GUN MARKET FOR OFFSHORE, BY REGION, 2020–2027 (USD MILLION)

14 PERFORATING GUN MARKET, BY REGION (Page No. - 105)
     14.1 INTRODUCTION
               FIGURE 45 REGIONAL SNAPSHOT: ASIA PACIFIC TO GROW AT HIGHEST CAGR DURING FORECAST PERIOD
               FIGURE 46 PERFORATING GUN MARKET SHARE (VALUE), BY REGION, 2021
               TABLE 49 PERFORATING GUN MARKET, BY REGION, 2016–2019 (USD MILLION)
               TABLE 50 PERFORATING GUN MARKET, BY REGION, 2020–2027 (USD MILLION)
     14.2 NORTH AMERICA
               FIGURE 47 NORTH AMERICA SNAPSHOT
             14.2.1 BY GUN TYPE
                       TABLE 51 PERFORATING GUN MARKET IN NORTH AMERICA, BY GUN TYPE, 2016–2019 (USD MILLION)
                       TABLE 52 PERFORATING GUN MARKET IN NORTH AMERICA, BY GUN TYPE, 2020–2027 (USD MILLION)
             14.2.2 BY DEPTH
                       TABLE 53 PERFORATING GUN MARKET IN NORTH AMERICA, BY DEPTH, 2016–2019 (USD MILLION)
                       TABLE 54 PERFORATING GUN MARKET IN NORTH AMERICA, BY DEPTH, 2020–2027 (USD MILLION)
             14.2.3 BY PRESSURE
                       TABLE 55 PERFORATING GUN MARKET IN NORTH AMERICA, BY PRESSURE, 2016–2019 (USD MILLION)
                       TABLE 56 PERFORATING GUN MARKET IN NORTH AMERICA, BY PRESSURE, 2020–2027 (USD MILLION)
             14.2.4 BY WELL TYPE
                       TABLE 57 PERFORATING GUN MARKET IN NORTH AMERICA, BY WELL TYPE, 2016–2019 (USD MILLION)
                       TABLE 58 PERFORATING GUN MARKET IN NORTH AMERICA, BY WELL TYPE, 2020–2027 (USD MILLION)
             14.2.5 BY APPLICATION
                       TABLE 59 PERFORATING GUN MARKET IN NORTH AMERICA, BY APPLICATION, 2016–2019 (USD MILLION)
                       TABLE 60 PERFORATING GUN MARKET IN NORTH AMERICA, BY APPLICATION, 2020–2027 (USD MILLION)
             14.2.6 BY COUNTRY
                       TABLE 61 PERFORATING GUN MARKET IN NORTH AMERICA, BY COUNTRY, 2016–2019 (USD MILLION)
                       TABLE 62 PERFORATING GUN MARKET IN NORTH AMERICA, BY COUNTRY, 2020–2027 (USD MILLION)
                       14.2.6.1 US
                                   14.2.6.1.1 Increasing exploration and production of shale and tight oil reserves in US to drive growth of perforating gun market
                                   TABLE 63 PERFORATING GUN MARKET IN US, BY WELL TYPE, 2016–2019 (USD MILLION)
                                   TABLE 64 PERFORATING GUN MARKET IN US, BY WELL TYPE, 2020–2027 (USD MILLION)
                                   TABLE 65 PERFORATING GUN MARKET IN US, BY APPLICATION, 2016–2019 (USD MILLION)
                                   TABLE 66 PERFORATING GUN MARKET IN US, BY APPLICATION, 2020–2027 (USD MILLION)
                       14.2.6.2 Canada
                                   14.2.6.2.1 Increasing exploration and drilling of oil sands and offshore wells to provide lucrative growth opportunities for Canadian perforating gun market
                                   TABLE 67 PERFORATING GUN MARKET IN CANADA, BY WELL TYPE, 2016–2019 (USD MILLION)
                                   TABLE 68 PERFORATING GUN MARKET IN CANADA, BY WELL TYPE, 2020–2027 (USD MILLION)
                                   TABLE 69 PERFORATING GUN MARKET IN CANADA, BY APPLICATION, 2016–2019 (USD MILLION)
                                   TABLE 70 PERFORATING GUN MARKET IN CANADA, BY APPLICATION, 2020–2027 (USD MILLION)
                       14.2.6.3 Mexico
                                   14.2.6.3.1 Development of unconventional shale resources and increasing focus on redeveloping mature fields to create growth opportunities for perforating gun market
                                   TABLE 71 PERFORATING GUN MARKET IN MEXICO, BY WELL TYPE, 2016–2019 (USD MILLION)
                                   TABLE 72 PERFORATING GUN MARKET IN MEXICO, BY WELL TYPE, 2020–2027 (USD MILLION)
                                   TABLE 73 PERFORATING GUN MARKET IN MEXICO, BY APPLICATION, 2016–2019 (USD MILLION)
                                   TABLE 74 PERFORATING GUN MARKET IN MEXICO, BY APPLICATION, 2020–2027 (USD MILLION)
     14.3 ASIA PACIFIC
               FIGURE 48 ASIA PACIFIC SNAPSHOT
             14.3.1 BY GUN TYPE
                       TABLE 75 PERFORATING GUN MARKET IN ASIA PACIFIC, BY GUN TYPE, 2016–2019 (USD MILLION)
                       TABLE 76 PERFORATING GUN MARKET IN ASIA PACIFIC, BY GUN TYPE, 2020–2027 (USD MILLION)
             14.3.2 BY DEPTH
                       TABLE 77 PERFORATING GUN MARKET IN ASIA PACIFIC, BY DEPTH, 2016–2019 (USD MILLION)
                       TABLE 78 PERFORATING GUN MARKET IN ASIA PACIFIC, BY DEPTH, 2020–2027 (USD MILLION)
             14.3.3 BY PRESSURE
                       TABLE 79 PERFORATING GUN MARKET IN ASIA PACIFIC, BY PRESSURE, 2016–2019 (USD MILLION)
                       TABLE 80 PERFORATING GUN MARKET IN ASIA PACIFIC, BY PRESSURE, 2020–2027 (USD MILLION)
             14.3.4 BY WELL TYPE
                       TABLE 81 PERFORATING GUN MARKET IN ASIA PACIFIC, BY WELL TYPE, 2016–2019 (USD MILLION)
                       TABLE 82 PERFORATING GUN MARKET IN ASIA PACIFIC, BY WELL TYPE, 2020–2027 (USD MILLION)
             14.3.5 BY APPLICATION
                       TABLE 83 PERFORATING GUN MARKET IN ASIA PACIFIC, BY APPLICATION, 2016–2019 (USD MILLION)
                       TABLE 84 PERFORATING GUN MARKET IN ASIA PACIFIC, BY APPLICATION, 2020–2027 (USD MILLION)
             14.3.6 BY COUNTRY
                       TABLE 85 PERFORATING GUN MARKET IN ASIA PACIFIC, BY COUNTRY, 2016–2019 (USD MILLION)
                       TABLE 86 PERFORATING GUN MARKET IN ASIA PACIFIC, BY COUNTRY, 2020–2027 (USD MILLION)
                       14.3.6.1 China
                                   14.3.6.1.1 Government initiatives to increase oil production from unconventional resources to drive growth of perforating gun market in China
                                   TABLE 87 PERFORATING GUN MARKET IN CHINA, BY WELL TYPE, 2016–2019 (USD MILLION)
                                   TABLE 88 PERFORATING GUN MARKET IN CHINA, BY WELL TYPE, 2020–2027 (USD MILLION)
                                   TABLE 89 PERFORATING GUN MARKET IN CHINA, BY APPLICATION, 2016–2019 (USD MILLION)
                                   TABLE 90 PERFORATING GUN MARKET IN CHINA, BY APPLICATION, 2020–2027 (USD MILLION)
                       14.3.6.2 India
                                   14.3.6.2.1 Redevelopment of legacy oilfields and government initiatives to improve exploration activities to drive growth of Indian perforating gun market
                                   TABLE 91 PERFORATING GUN MARKET IN INDIA, BY WELL TYPE, 2016–2019 (USD MILLION)
                                   TABLE 92 PERFORATING GUN MARKET IN INDIA, BY WELL TYPE, 2020–2027 (USD MILLION)
                                   TABLE 93 PERFORATING GUN MARKET IN INDIA, BY APPLICATION, 2016–2019 (USD MILLION)
                                   TABLE 94 PERFORATING GUN MARKET IN INDIA, BY APPLICATION, 2020–2027 (USD MILLION)
                       14.3.6.3 Australia
                                   14.3.6.3.1 Development of unconventional shale resources and rising focus on redeveloping mature fields to create growth opportunities for perforating gun market
                                   TABLE 95 PERFORATING GUN MARKET IN AUSTRALIA, BY WELL TYPE, 2016–2019 (USD MILLION)
                                   TABLE 96 PERFORATING GUN MARKET IN AUSTRALIA, BY WELL TYPE, 2020–2027 (USD MILLION)
                                   TABLE 97 PERFORATING GUN MARKET IN AUSTRALIA, BY APPLICATION, 2016–2019 (USD MILLION)
                                   TABLE 98 PERFORATING GUN MARKET IN AUSTRALIA, BY APPLICATION, 2020–2027 (USD MILLION)
                       14.3.6.4 Malaysia
                                   14.3.6.4.1 Government policies focusing on development of existing field to create growth opportunities for perforating gun market
                                   TABLE 99 PERFORATING GUN MARKET IN MALAYSIA, BY WELL TYPE, 2016–2019 (USD MILLION)
                                   TABLE 100 PERFORATING GUN MARKET IN MALAYSIA, BY WELL TYPE, 2020–2027 (USD MILLION)
                                   TABLE 101 PERFORATING GUN MARKET IN MALAYSIA, BY APPLICATION, 2016–2019 (USD MILLION)
                                   TABLE 102 PERFORATING GUN MARKET IN MALAYSIA, BY APPLICATION, 2020–2027 (USD MILLION)
                       14.3.6.5 Indonesia
                                   14.3.6.5.1 Increasing exploration and production activities in offshore region of the country to create growth opportunities for perforating gun market
                                   TABLE 103 PERFORATING GUN MARKET IN INDONESIA, BY WELL TYPE, 2016–2019 (USD MILLION)
                                   TABLE 104 PERFORATING GUN MARKET IN INDONESIA, BY WELL TYPE, 2020–2027 (USD MILLION)
                                   TABLE 105 PERFORATING GUN MARKET IN INDONESIA, BY APPLICATION, 2016–2019 (USD MILLION)
                                   TABLE 106 PERFORATING GUN MARKET IN INDONESIA, BY APPLICATION, 2020–2027 (USD MILLION)
                       14.3.6.6 Rest of Asia Pacific
                                   TABLE 107 PERFORATING GUN MARKET IN REST OF ASIA PACIFIC, BY WELL TYPE, 2016–2019 (USD MILLION)
                                   TABLE 108 PERFORATING GUN MARKET IN REST OF ASIA PACIFIC, BY WELL TYPE, 2020–2027 (USD MILLION)
                                   TABLE 109 PERFORATING GUN MARKET IN REST OF ASIA PACIFIC, BY APPLICATION, 2016–2019 (USD MILLION)
                                   TABLE 110 PERFORATING GUN MARKET IN REST OF ASIA PACIFIC, BY APPLICATION, 2020–2027 (USD MILLION)
     14.4 EUROPE
             14.4.1 BY GUN TYPE
                       TABLE 111 PERFORATING GUN MARKET IN EUROPE, BY GUN TYPE, 2016–2019 (USD MILLION)
                       TABLE 112 PERFORATING GUN MARKET IN EUROPE, BY GUN TYPE, 2020–2027 (USD MILLION)
             14.4.2 BY DEPTH
                       TABLE 113 PERFORATING GUN MARKET IN EUROPE, BY DEPTH, 2016–2019 (USD MILLION)
                       TABLE 114 PERFORATING GUN MARKET IN EUROPE, BY DEPTH, 2020–2027 (USD MILLION)
             14.4.3 BY PRESSURE
                       TABLE 115 PERFORATING GUN MARKET IN EUROPE, BY PRESSURE, 2016–2019 (USD MILLION)
                       TABLE 116 PERFORATING GUN MARKET IN EUROPE, BY PRESSURE, 2020–2027 (USD MILLION)
             14.4.4 BY WELL TYPE
                       TABLE 117 PERFORATING GUN MARKET IN EUROPE, BY WELL TYPE, 2016–2019 (USD MILLION)
                       TABLE 118 PERFORATING GUN MARKET IN EUROPE, BY WELL TYPE, 2020–2027 (USD MILLION)
             14.4.5 BY APPLICATION
                       TABLE 119 PERFORATING GUN MARKET IN EUROPE, BY APPLICATION, 2016–2019 (USD MILLION)
                       TABLE 120 PERFORATING GUN MARKET IN EUROPE, BY APPLICATION, 2020–2027 (USD MILLION)
             14.4.6 BY COUNTRY
                       TABLE 121 PERFORATING GUN MARKET IN EUROPE, BY COUNTRY, 2016–2019 (USD MILLION)
                       TABLE 122 PERFORATING GUN MARKET IN EUROPE, BY COUNTRY, 2020–2027 (USD MILLION)
                       14.4.6.1 UK
                                   14.4.6.1.1 Rising focus on increasing production from mature fields to drive market growth
                                   TABLE 123 PERFORATING GUN MARKET IN UK, BY WELL TYPE, 2016–2019 (USD MILLION)
                                   TABLE 124 PERFORATING GUN MARKET IN UK, BY WELL TYPE, 2020–2027 (USD MILLION)
                                   TABLE 125 PERFORATING GUN MARKET IN UK, BY APPLICATION, 2016–2019 (USD MILLION)
                                   TABLE 126 PERFORATING GUN MARKET IN UK, BY APPLICATION, 2020–2027 (USD MILLION)
                       14.4.6.2 Norway
                                   14.4.6.2.1 Rapidly declining production from mature oil & gas fields and increase in exploration activities in Norwegian Continental Shelf (NCS) to fuel demand for perforating guns
                                   TABLE 127 PERFORATING GUN MARKET IN NORWAY, BY WELL TYPE, 2016–2019 (USD MILLION)
                                   TABLE 128 PERFORATING GUN MARKET IN NORWAY, BY WELL TYPE, 2020–2027 (USD MILLION)
                                   TABLE 129 PERFORATING GUN MARKET IN NORWAY, BY APPLICATION, 2016–2019 (USD MILLION)
                                   TABLE 130 PERFORATING GUN MARKET IN NORWAY, BY APPLICATION, 2020–2027 (USD MILLION)
                       14.4.6.3 Russia
                                   14.4.6.3.1 Increasing exploration and production activities in Russia’s Far East region to drive market growth
                                   TABLE 131 PERFORATING GUN MARKET IN RUSSIA, BY WELL TYPE, 2016–2019 (USD MILLION)
                                   TABLE 132 PERFORATING GUN MARKET IN RUSSIA, BY WELL TYPE, 2020–2027 (USD MILLION)
                                   TABLE 133 PERFORATING GUN MARKET IN RUSSIA, BY APPLICATION, 2016–2019 (USD MILLION)
                                   TABLE 134 PERFORATING GUN MARKET IN RUSSIA, BY APPLICATION, 2020–2027 (USD MILLION)
                       14.4.6.4 Rest of Europe
                                   TABLE 135 PERFORATING GUN MARKET IN REST OF EUROPE, BY WELL TYPE, 2016–2019 (USD MILLION)
                                   TABLE 136 PERFORATING GUN MARKET IN REST OF EUROPE, BY WELL TYPE, 2020–2027 (USD MILLION)
                                   TABLE 137 PERFORATING GUN MARKET IN REST OF EUROPE, BY APPLICATION, 2016–2019 (USD MILLION)
                                   TABLE 138 PERFORATING GUN MARKET IN REST OF EUROPE, BY APPLICATION, 2020–2027 (USD MILLION)
     14.5 SOUTH AMERICA
             14.5.1 BY GUN TYPE
                       TABLE 139 PERFORATING GUN MARKET IN SOUTH AMERICA, BY GUN TYPE, 2016–2019 (USD MILLION)
                       TABLE 140 PERFORATING GUN MARKET IN SOUTH AMERICA, BY GUN TYPE, 2020–2027 (USD MILLION)
             14.5.2 BY DEPTH
                       TABLE 141 PERFORATING GUN MARKET IN SOUTH AMERICA, BY DEPTH, 2016–2019 (USD MILLION)
                       TABLE 142 PERFORATING GUN MARKET IN SOUTH AMERICA, BY DEPTH, 2020–2027 (USD MILLION)
             14.5.3 BY PRESSURE
                       TABLE 143 PERFORATING GUN MARKET IN SOUTH AMERICA, BY PRESSURE, 2016–2019 (USD MILLION)
                       TABLE 144 PERFORATING GUN MARKET IN SOUTH AMERICA, BY PRESSURE, 2020–2027 (USD MILLION)
             14.5.4 BY WELL TYPE
                       TABLE 145 PERFORATING GUN MARKET IN SOUTH AMERICA, BY WELL TYPE, 2016–2019 (USD MILLION)
                       TABLE 146 PERFORATING GUN MARKET IN SOUTH AMERICA, BY WELL TYPE, 2020–2027 (USD MILLION)
             14.5.5 BY APPLICATION
                       TABLE 147 PERFORATING GUN MARKET IN SOUTH AMERICA, BY APPLICATION, 2016–2019 (USD MILLION)
                       TABLE 148 PERFORATING GUN MARKET IN SOUTH AMERICA, BY APPLICATION, 2020–2027 (USD MILLION)
             14.5.6 BY COUNTRY
                       TABLE 149 PERFORATING GUN MARKET IN SOUTH AMERICA, BY COUNTRY, 2016–2019 (USD MILLION)
                       TABLE 150 PERFORATING GUN MARKET IN SOUTH AMERICA, BY COUNTRY, 2020–2027 (USD MILLION)
                       14.5.6.1 Brazil
                                   14.5.6.1.1 Increasing offshore exploration and production activities to boost market growth
                                   TABLE 151 PERFORATING GUN MARKET IN BRAZIL, BY WELL TYPE, 2016–2019 (USD MILLION)
                                   TABLE 152 PERFORATING GUN MARKET IN BRAZIL, BY WELL TYPE, 2020–2027 (USD MILLION)
                                   TABLE 153 PERFORATING GUN MARKET IN BRAZIL, BY APPLICATION, 2016–2019 (USD MILLION)
                                   TABLE 154 PERFORATING GUN MARKET IN BRAZIL, BY APPLICATION, 2020–2027 (USD MILLION)
                       14.5.6.2 Argentina
                                   14.5.6.2.1 Shale developments to create high demand for perforating guns in Argentina
                                   TABLE 155 PERFORATING GUN MARKET IN ARGENTINA, BY WELL TYPE, 2016–2019 (USD MILLION)
                                   TABLE 156 PERFORATING GUN MARKET IN ARGENTINA, BY WELL TYPE, 2020–2027 (USD MILLION)
                                   TABLE 157 PERFORATING GUN MARKET IN ARGENTINA, BY APPLICATION, 2016–2019 (USD MILLION)
                                   TABLE 158 PERFORATING GUN MARKET IN ARGENTINA, BY APPLICATION, 2020–2027 (USD MILLION)
                       14.5.6.3 Venezuela
                                   14.5.6.3.1 Lucrative government laws for exploration and production activities to boost market growth
                                   TABLE 159 PERFORATING GUN MARKET IN VENEZUELA, BY WELL TYPE, 2016–2019 (USD MILLION)
                                   TABLE 160 PERFORATING GUN MARKET IN VENEZUELA, BY WELL TYPE, 2020–2027 (USD MILLION)
                                   TABLE 161 PERFORATING GUN MARKET IN VENEZUELA, BY APPLICATION, 2016–2019 (USD MILLION)
                                   TABLE 162 PERFORATING GUN MARKET IN VENEZUELA, BY APPLICATION, 2020–2027 (USD MILLION)
                       14.5.6.4 Rest of South America
                                   TABLE 163 PERFORATING GUN MARKET IN REST OF SOUTH AMERICA, BY WELL TYPE, 2016–2019 (USD MILLION)
                                   TABLE 164 PERFORATING GUN MARKET IN REST OF SOUTH AMERICA, BY WELL TYPE, 2020–2027 (USD MILLION)
                                   TABLE 165 PERFORATING GUN MARKET IN REST OF SOUTH AMERICA, BY APPLICATION, 2016–2019 (USD MILLION)
                                   TABLE 166 PERFORATING GUN MARKET IN REST OF SOUTH AMERICA, BY APPLICATION, 2020–2027 (USD MILLION)
     14.6 MIDDLE EAST & AFRICA
             14.6.1 BY GUN TYPE
                       TABLE 167 PERFORATING GUN MARKET IN MIDDLE EAST & AFRICA, BY GUN TYPE, 2016–2019 (USD MILLION)
                       TABLE 168 PERFORATING GUN MARKET IN MIDDLE EAST & AFRICA, BY GUN TYPE, 2020–2027 (USD MILLION)
             14.6.2 BY DEPTH
                       TABLE 169 PERFORATING GUN MARKET IN MIDDLE EAST & AFRICA, BY DEPTH, 2016–2019 (USD MILLION)
                       TABLE 170 PERFORATING GUN MARKET IN MIDDLE EAST & AFRICA, BY DEPTH, 2020–2027 (USD MILLION)
             14.6.3 BY PRESSURE
                       TABLE 171 PERFORATING GUN MARKET IN MIDDLE EAST & AFRICA, BY PRESSURE, 2016–2019 (USD MILLION)
                       TABLE 172 PERFORATING GUN MARKET IN MIDDLE EAST & AFRICA, BY PRESSURE, 2020–2027 (USD MILLION)
             14.6.4 BY WELL TYPE
                       TABLE 173 PERFORATING GUN MARKET IN MIDDLE EAST & AFRICA, BY WELL TYPE, 2016–2019 (USD MILLION)
                       TABLE 174 PERFORATING GUN MARKET IN MIDDLE EAST & AFRICA, BY WELL TYPE, 2020–2027 (USD MILLION)
             14.6.5 BY APPLICATION
                       TABLE 175 PERFORATING GUN MARKET IN MIDDLE EAST & AFRICA, BY APPLICATION, 2016–2019 (USD MILLION)
                       TABLE 176 PERFORATING GUN MARKET IN MIDDLE EAST & AFRICA, BY APPLICATION, 2020–2027 (USD MILLION)
             14.6.6 BY COUNTRY
                       TABLE 177 PERFORATING GUN MARKET IN MIDDLE EAST & AFRICA, BY COUNTRY, 2016–2019 (USD MILLION)
                       TABLE 178 PERFORATING GUN MARKET IN MIDDLE EAST & AFRICA, BY COUNTRY, 2020–2027 (USD MILLION)
                       14.6.6.1 Saudi Arabia
                                   14.6.6.1.1 Increased crude production from onshore fields and surge in offshore exploration to drive growth of perforating gun market
                                   TABLE 179 PERFORATING GUN MARKET IN SAUDI ARABIA, BY WELL TYPE, 2016–2019 (USD MILLION)
                                   TABLE 180 PERFORATING GUN MARKET IN SAUDI ARABIA, BY WELL TYPE, 2020–2027 (USD MILLION)
                                   TABLE 181 PERFORATING GUN MARKET IN SAUDI ARABIA, BY APPLICATION, 2016–2019 (USD MILLION)
                                   TABLE 182 PERFORATING GUN MARKET IN SAUDI ARABIA, BY APPLICATION, 2020–2027 (USD MILLION)
                       14.6.6.2 UAE
                                   14.6.6.2.1 Need to understand reservoir production capacity to fuel demand for perforating guns in UAE
                                   TABLE 183 PERFORATING GUN MARKET IN UAE, BY WELL TYPE, 2016–2019 (USD MILLION)
                                   TABLE 184 PERFORATING GUN MARKET IN UAE, BY WELL TYPE, 2020–2027 (USD MILLION)
                                   TABLE 185 PERFORATING GUN MARKET IN UAE, BY APPLICATION, 2016–2019 (USD MILLION)
                                   TABLE 186 PERFORATING GUN MARKET IN UAE, BY APPLICATION, 2020–2027 (USD MILLION)
                       14.6.6.3 Algeria
                                   14.6.6.3.1 Initiatives proposed and executed by upstream oilfield operators in Algeria to drive demand for perforating guns
                                   TABLE 187 PERFORATING GUN MARKET IN ALGERIA, BY WELL TYPE, 2016–2019 (USD MILLION)
                                   TABLE 188 PERFORATING GUN MARKET IN ALGERIA, BY WELL TYPE, 2020–2027 (USD MILLION)
                                   TABLE 189 PERFORATING GUN MARKET IN ALGERIA, BY APPLICATION, 2016–2019 (USD MILLION)
                                   TABLE 190 PERFORATING GUN MARKET IN ALGERIA, BY APPLICATION, 2020–2027 (USD MILLION)
                       14.6.6.4 Nigeria
                                   14.6.6.4.1 Rise in exploration activities and developments in mature oil and gas fields to boost market growth
                                   TABLE 191 PERFORATING GUN MARKET IN NIGERIA, BY WELL TYPE, 2016–2019 (USD MILLION)
                                   TABLE 192 PERFORATING GUN MARKET IN NIGERIA, BY WELL TYPE, 2020–2027 (USD MILLION)
                                   TABLE 193 PERFORATING GUN MARKET IN NIGERIA, BY APPLICATION, 2016–2019 (USD MILLION)
                                   TABLE 194 PERFORATING GUN MARKET IN NIGERIA, BY APPLICATION, 2020–2027 (USD MILLION)
                       14.6.6.5 Rest of Middle East & Africa
                                   TABLE 195 PERFORATING GUN MARKET IN REST OF MIDDLE EAST & AFRICA, BY WELL TYPE, 2016–2019 (USD MILLION)
                                   TABLE 196 PERFORATING GUN MARKET IN REST OF MIDDLE EAST & AFRICA, BY WELL TYPE, 2020–2027 (USD MILLION)
                                   TABLE 197 PERFORATING GUN MARKET IN REST OF MIDDLE EAST & AFRICA, BY APPLICATION, 2016–2019 (USD MILLION)
                                   TABLE 198 PERFORATING GUN MARKET IN REST OF MIDDLE EAST & AFRICA, BY APPLICATION, 2020–2027 (USD MILLION)

15 COMPETITIVE LANDSCAPE (Page No. - 163)
     15.1 OVERVIEW
               FIGURE 49 KEY DEVELOPMENTS IN PERFORATING GUN MARKET, 2018–2022
     15.2 MARKET SHARE ANALYSIS OF KEY PLAYERS, 2020
               TABLE 199 PERFORATING GUN MARKET: DEGREE OF COMPETITION
               FIGURE 50 MARKET SHARE ANALYSIS OF TOP PLAYERS, 2020
     15.3 MARKET EVALUATION FRAMEWORK
               TABLE 200 MARKET EVALUATION FRAMEWORK, 2018–2021
     15.4 SEGMENTAL REVENUE ANALYSIS OF TOP MARKET PLAYERS
               FIGURE 51 SEGMENTAL REVENUE ANALYSIS, 2016–2020
     15.5 RECENT DEVELOPMENTS
             15.5.1 DEALS
                       TABLE 201 PERFORATING GUN MARKET: DEALS, 2018–2022
             15.5.2 OTHERS
                       TABLE 202 PERFORATING GUN MARKET: OTHERS, 2018–2022
     15.6 COMPETITIVE LEADERSHIP MAPPING
             15.6.1 STAR
             15.6.2 EMERGING LEADER
             15.6.3 PERVASIVE
             15.6.4 PARTICIPANT
                       FIGURE 52 PERFORATING GUN MARKET: COMPETITIVE LEADERSHIP MAPPING, 2021
                       TABLE 203 COMPANY: GUN TYPE FOOTPRINT
                       TABLE 204 COMPANY: REGIONAL FOOTPRINT

16 COMPANY PROFILES (Page No. - 174)
(Business and financial overview, Products/services offered, Recent developments & MnM View)*
     16.1 KEY COMPANIES
             16.1.1 SCHLUMBERGER LIMITED
                       TABLE 205 SCHLUMBERGER LIMITED: BUSINESS OVERVIEW
                       FIGURE 53 SCHLUMBERGER LIMITED: COMPANY SNAPSHOT
                       TABLE 206 SCHLUMBERGER LIMITED: DEALS
                       TABLE 207 SCHLUMBERGER LIMITED: OTHERS
             16.1.2 WEATHERFORD
                       TABLE 208 WEATHERFORD: BUSINESS OVERVIEW
                       FIGURE 54 WEATHERFORD: COMPANY SNAPSHOT
                       TABLE 209 WEATHERFORD: PRODUCTS/SERVICES OFFERED
                       TABLE 210 WEATHERFORD: DEALS
             16.1.3 BAKER HUGHES
                       TABLE 211 BAKER HUGHES: BUSINESS OVERVIEW
                       FIGURE 55 BAKER HUGHES: COMPANY SNAPSHOT
                       TABLE 212 BAKER HUGHES: DEALS
                       TABLE 213 BAKER HUGHES: OTHERS
             16.1.4 HALLIBURTON
                       TABLE 214 HALLIBURTON: BUSINESS OVERVIEW
                       FIGURE 56 HALLIBURTON: COMPANY SNAPSHOT
                       TABLE 215 HALLIBURTON: DEALS
             16.1.5 NOV INC.
                       TABLE 216 NOV INC.: BUSINESS OVERVIEW
                       FIGURE 57 NOV INC.: COMPANY SNAPSHOT
                       TABLE 217 NOV INC: DEALS
             16.1.6 CORE LABORATORIES
                       TABLE 218 CORE LABORATORIES: BUSINESS OVERVIEW
                       FIGURE 58 CORE LABORATORIES: COMPANY SNAPSHOT
                       TABLE 219 CORE LABORATORIES: DEALS
             16.1.7 EXPRO GROUP
                       TABLE 220 EXPRO GROUP: BUSINESS OVERVIEW
                       FIGURE 59 EXPRO GROUP: COMPANY SNAPSHOT
                       TABLE 221 EXPRO GROUP: DEALS
             16.1.8 HUNTING PLC
                       TABLE 222 HUNTING PLC: BUSINESS OVERVIEW
                       FIGURE 60 HUNTING PLC: COMPANY SNAPSHOT
                       TABLE 223 HUNTING PLC: PRODUCTS/SERVICES OFFERED
                       TABLE 224 HUNTING: DEALS
             16.1.9 DYNAENERGETICS
                       TABLE 225 DMC GLOBAL: BUSINESS OVERVIEW
                       FIGURE 61 DMC GLOBAL: COMPANY SNAPSHOT
                       TABLE 226 DYNAENERGETICS: DEALS
                       TABLE 227 DYNAENERGETICS: OTHERS
             16.1.10 XI'AN ZZ TOP OIL TOOLS CO., LTD
                       TABLE 228 XI'AN ZZ TOP OIL TOOLS CO., LTD: BUSINESS OVERVIEW
             16.1.11 TASSAROLI S.A.
                       TABLE 229 TASSAROLI S.A.: BUSINESS OVERVIEW
             16.1.12 FHE USA LLC
                       TABLE 230 FHE USA LLC: BUSINESS OVERVIEW
             16.1.13 LLC PROMPERFORATOR
                       TABLE 231 LLC PROMPERFORATOR: BUSINESS OVERVIEW
             16.1.14 LANDSEA TECHNICAL SERVICES PTE. LTD.
                       TABLE 232 LANDSEA TECHNICAL SERVICES PTE. LTD.: BUSINESS OVERVIEW
             16.1.15 G&H DIVERSIFIED MANUFACTURING, L.P.
                       TABLE 233 G&H DIVERSIFIED MANUFACTURING, L.P.: BUSINESS OVERVIEW
*Details on Business and financial overview, Products/services offered, Recent developments & MnM View might not be captured in case of unlisted companies.
     16.2 OTHER PLAYERS
             16.2.1 SHAANXI FYPE RIGID MACHINERY CO., LTD.
             16.2.2 NORTHERN COLORADO MANUFACTURING, LLC
             16.2.3 OILTECH SERVICES
             16.2.4 HUNT & HUNT LTD
             16.2.5 SCHWEITZER-MAUDUIT INTERNATIONAL INC

17 APPENDIX (Page No. - 216)
     17.1 INSIGHTS OF INDUSTRY EXPERTS
     17.2 DISCUSSION GUIDE
     17.3 KNOWLEDGE STORE: MARKETSANDMARKETS’ SUBSCRIPTION PORTAL
     17.4 AVAILABLE CUSTOMIZATIONS
     17.5 RELATED REPORTS
     17.6 AUTHOR DETAILS

This study involved four major activities in estimating the current size of the perforating guns market. Exhaustive secondary research was done to collect information on the market, the peer market, and the parent market. The next step was to validate these findings, assumptions, and market sizing with industry experts across the value chain through rigorous primary research. Both top-down and bottom-up approaches were used to estimate the total market size. The market breakdown and data triangulation techniques were employed to estimate the market size of the segments and the corresponding subsegments.

Secondary Research

This research study involved the use of extensive secondary sources, directories, and databases such as water and wastewater management data, industry publications, several newspaper articles, Statista Industry Journal, Factiva, and water & environment journal to identify and collect information useful for a technical, market-oriented, and commercial study of the perforating guns market. The other secondary sources included annual reports, press releases & investor presentations of companies, white papers, certified publications, articles by recognized authors, manufacturer associations, trade directories, and databases. 

Primary Research

The perforating guns market comprises several stakeholders such as companies related to the industry, component manufacturing companies for perforating gun, government & research organizations, organizations, forums, alliances & associations, perforating guns providers, state & national energy authorities, dealers & suppliers, and vendors. The demand side of the market is characterized by increased investment in the residential, commercial, and industrial sector. The supply side is characterized by investments & expansion and partnerships & collaborations among big players. Various primary sources from both the supply and demand sides of the market were interviewed to obtain qualitative and quantitative information. The breakdown of primary respondents is given below:

Perforating Gun Market Size, and Share

To know about the assumptions considered for the study, download the pdf brochure

Market Size Estimation

Both top-down and bottom-up approaches have been used to estimate and validate the size of the global perforating guns market and its dependent submarkets. These methods were also extensively used to estimate the size of various subsegments in the market. The research methodology used to estimate the market size includes the following:

  • The key players in the industry and market have been identified through extensive secondary research, and their market shares in the respective regions have been determined through both primary and secondary research.
  • The industry’s supply chain and market size, in terms of value, have been determined through primary and secondary research processes.
  • All percentage shares, splits, and breakdowns have been determined using secondary sources and verified through primary sources.

Global Perforating guns Market Size: Bottom-Up Approach

Perforating Gun Market Size, and Bottom-Up Approach

Data Triangulation

After arriving at the overall market size-using the market size estimation processes as explained above-the market was split into several segments and subsegments. To complete the entire market engineering process and arrive at the exact statistics of each market segment and subsegment, the data triangulation, and market breakdown procedures were employed, wherever applicable. The data was triangulated by studying various factors and trends from both the demand and supply sides in the perforating guns market.

Objectives of the Study

  • To define and describe the perforating gun market, based on type, gun type, orientation, explosives, depth, pressure, well type, application, and region
  • To provide detailed information on the major factors influencing the growth of the market (drivers, restraints, opportunities, and challenges)
  • To strategically analyze each segment/subsegment of the market with respect to individual growth trends, future expansions, and their contributions to the overall market
  • To analyze market opportunities for stakeholders and the competitive landscape for market leaders 
  • To forecast the growth of the perforating gun market with respect to five main regions: North America, South America, Europe, Asia Pacific, and Middle East & Africa.
  • To strategically profile key players and comprehensively analyze their respective market share and core competencies*
  • To analyze competitive developments such as investments & expansions, mergers & acquisitions, new product launches, contracts & agreements, and joint ventures & collaborations in the perforating gun market

Available Customizations:

With the given market data, MarketsandMarkets offers customizations according to your specific needs. The following customization options are available for the report:

Company Information

  • Product Matrix, which provides a detailed comparison of the product portfolio of each company

Company Information

  • Detailed analysis and profiling of additional market players 
Report Code
EP 5695
Published ON
Mar, 2022
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