Raipur, Dec. 09, 2022 (GLOBE NEWSWIRE) -- Stratview Research, a leading market research firm has launched a report on the Perforating Guns Market which provides an in-depth analysis of the market dynamics, current and emerging trends, industry forecast, and competitive landscape.
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How is the Report Helpful?
The report has a very high utility for the key decision-makers and strategists in terms of accurate market insights, future growth opportunities, and key success factors.
Most importantly, the report analyses the possible impact of COVID-19 on the market dynamics which offers cushioning against the uncertain business environment and helps in streamlining the resources and investment decisions in a fruitful manner.
What are the Top Market Drivers?
According to the report, the Perforating Guns Market is driven by a host of factors, some of which are noted below:
- Surge in oil and gas production.
- Rise in the average well depth over the years.
- Increasing complexity of reservoir conditions,
- Growing shale gas exploration.
The report also includes growth rate estimates based on the intensity of drivers and constraints and provides the users with several graphical illustrations of the key insights.
Perforating Guns Market Segmentation:
Stratview Research has segmented the market in the following ways which fulfill the market data needs of multiple stakeholders across the industry value chain.
- By Well Type (Horizontal, Vertical),
- By Gun Type (Through Tubing Hollow Carrier, Wireline Conveyed Casing, Through Tubing Strip, and Tubing Conveyed Perforating),
- By Well Pressure Type (High Pressure, Low Pressure),
- By Depth Type (Up to 3,000 ft., 3,000-8,000 ft., and Above 8,000 ft.),
- By Region (North America, Europe, Asia-Pacific, and Rest of the World).
Perforating Guns Market Insights
Market Trends by Well Type
The market is segmented as horizontal and vertical. The horizontal segment is estimated to register a higher growth during the forecast period driven by increasing reperforation of old wells which require multiple perforations for a single well from the same reservoir. The segment’s growth is driven by the advanced techniques in the upstream sector and the rising demand for oil & gas.
However, in some cases, oil & gas operators are dependent upon vertical drill wells, where the oil/gas reserves are available at a short depth from the surface. Further, vertical wells are the most preferred form of wells as they can be further converted into unconventional wells once oil production starts decreasing. These factors are likely to drive the vertical well segment in the coming years.
Market Trends by Gun Type
The market is segmented as Through Tubing Hollow Carrier, Wireline Conveyed Casing, Through Tubing Strip, and Tubing Conveyed Perforating. Through tubing hollow carrier guns dominated the market in 2019. The segment is most widely used and is expected to remain the leader during the forecasted period.
Which region offers the best opportunity and growth?
North America is estimated to dominate the perforating guns market during the forecast period. In 2019, approximately 250m barrels of oil was discovered in the Glengorm reservoir. The discovery of oil and gas reserves is expected to form a platform for the sales of perforating guns in Europe and North America. In Asia-Pacific, China has discovered high yield and high-quality oil flow in the Bohai Sea, which is driving the growth of the market during the forecast period.
COVID-19 Impact on the Perforating Guns Market
COVID-19 has put an instant halt to many industries across the globe. Lockdown norms in several countries have swiftly affected the global economy by affecting the supply chain, production, and demand in the market. Both direct, as well as indirect impacts of the pandemic, have been incorporated in this report.
To know more about the covid-19 impact, get a free sample report, here:
https://www.stratviewresearch.com/Request-Sample/679/perforating-guns-market.html#form
Who are the Top Market Players?
After a thorough analysis of the market, the experts have listed a few key players and discussed the company profiles of the below-given players -
- Schlumberger (US)
- Weatherford (US)
- Baker Hughes (US)
- Halliburton (US)
- DynaEnergetics (US)
What deliverables will you get in this report?
- In-depth analysis of the Perforating Guns Market.
- Detailed market segmentation.
- Competitive landscape analysis.
- Historical, present, and future market size analysis.
- Industry trends, technologies, and advancements.
- Growth and operation strategies adopted by key players.
- Potential segments/regions offering promising growth.
- Geographical presence of the key players.
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