Report Code: A07263 | Pages: NA | Mar 2023 | 1119 Views | ||
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Pandemic disrupted the entire world and affected many industries.
Get detailed COVID-19 impact analysis on the Perforating Gun Market
Request Now !A perforating gun is a device used to perforate or punch holes in the casing or liner of oil & gas wells during the preparation for production. These perforations are created for enabling the flow of oil & gas into the wellbore. These guns are designed to hold several explosive charges, and are lowered into the wells and triggered. As these explosives create holes in the walls of the reservoir, channels are created through which the reservoir fluid flows into the wellbore, and is finally removed for further processing. This device is widely used as it provides higher economic benefits than conventional methods and reduces environmental pollution as well as enhances operational safety & efficiency.
COVID-19 scenario analysisÂ
The outbreak of the novel coronavirus pandemic has affected the perforating gun market to a notable extent.
Rapid urbanization and large-scale industrialization across the world have surged the demand for oil & gas in the market. This has increased the production in different oilfields and boosted the exploration of shale gas in the reservoirs. In addition, technological developments are being made in firing systems to increase the efficiency of perforating guns. Thus, all these factors collectively contribute toward the growth of the global perforating gun market.Â
In addition, increase in complexities of the reservoirs with newer concepts such as horizontal wells, the demand for perforating guns is expected to grow in the global market. In case of drilling in shale reservoirs, horizontal or directional drilling is performed. With the growing trend of horizontal drilling and more innovations such as multi-stage hydraulic fracturing technologies for opening up tight hydrocarbon resources, the global perforating gun market is expected witness growth at a steady rate. However, recent fluctuations in oil prices has affected the drilling activities negatively, which is likely to act as a restraining factor of the perforating gun market.
Presently, the North America region holds the largest share in the market, due to increase in shale gas exploration and offshore drilling activities. The market in the Asia-Pacific region is expected to grow with a significant rate, due to surge in demand for energy in the emerging economies such as India and China.
Key benefits of the report
Perforating Gun Market: Global Opportunity Analysis and Industry Forecast, 2020–2027 Report Highlights
Aspects | Details |
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By Gun Type |
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By Well Type |
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By Well Pressure |
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By Region |
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Key Market Players | Baker Hughes Co., Schlumberger Ltd., Weatherford International Ltd., G&H Diversefield Manufacturing LP, DMC Global Inc., National Oilwell Varco Inc., Halliburton Company, Hunting Plc. |
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