DUBLIN--(BUSINESS WIRE)--The "Global Perforating Gun Market - Growth, Trends, and Forecast (2018 - 2023)" report has been added to ResearchAndMarkets.com's offering.
After two years of downturn in upstream oil & gas activity across the globe, the perforating gun market is expected to witness a slightly higher growth rate between 2018 and 2023, owing to the resurgence of oil & gas industry.
In May 2018, the Brent Crude and WTI Crude prices reached USD 77.21 per bbl and USD 71.14 per bbl respectively. The rising oil price is expected to boost the oil & gas exploration and production activities across the globe while creating opportunities for companies engaged in manufacturing, sales, and services of oilfield equipment.
The recovery in oil & gas prices in 2018 has led to a decent surge in drilling activities across the globe and is expected to open up the long-suppressed oilfield equipment market such as perforating gun equipment and systems. Factors such as rise in oil & gas drilling activities across the globe, rising shale prospective and technological developments in perforating gun systems are expected to drive the perforating gun market in coming years.
However, repercussions of 2014-2017 global downturn in oil & gas industry, including a delay of major oil & gas projects may restrain the market in a short-term scenario.
Rise in Shale Gas Exploration and Production is Driving the Market
Technological innovation and the increasing efficiency of horizontal drilling and multi-stage hydraulic fracturing technologies are unlocking vast unconventional shale and tight hydrocarbon resources across the globe, especially in North America.
Before each hydraulic fracturing operation, well pre-completion is carried out and the perforation of a well has to be performed. Explosive charges are used to create a perforation tunnel through the pipe, the casing and a small length of the reservoir. Perforating gun is the simplest technology of a well pre-completion in shale production.
While many new technologies are being developed by leading players in the market, perforating gun technologies such as StimGun and GasGun are prevalent in the shale gas industry.
Countries such as Argentina, Mexico and China, have started to explore the commercial viability of their shale reserves. Hence, with rising exploration and production of shale oil & gas, the perforating gun market is also expected to witness a significant demand.
Market Developments
- March 2018: Schlumberger Ltd. introduced the Tempo instrumented docking perforating gun system at the SPE/ICoTA Coiled Tubing and Well Intervention Conference and Exhibition. This perforating gun system uses combination of a plug-in gun design with real-time advanced downhole measurements enables and monitors the well's dynamic underbalance to create clean perforations that boost reservoir productivity.
Key Topics Covered
1. Executive Summary
2. Research Methodology
2.1 Scope of Study
2.2 Market Definition
2.3 Study Assumptions
2.4 Study Deliverables
2.5 Research Phases
3. Market Overview
3.1 Introduction
3.2 Market Size and Demand Forecast until 2023
3.3 Global Oil & Gas Production & Consumption and Forecast until 2023
3.4 Onshore CAPEX Forecast in USD billion, until 2023
3.5 Offshore CAPEX Forecast in USD billion by Region, until 2023
3.6 Key Upstream Projects
3.7 Recent Trends and Developments
4. Market Dynamics
4.1 Drivers
4.2 Restraints
4.3 Opportunities
5. Supply Chain Analysis
6. Industry Attractiveness - Porter's Five Force Analysis
6.1 Bargaining Power of Suppliers
6.2 Bargaining Power of Consumers
6.3 Threat of New Entrants
6.4 Threat of Substitute Product and Services
6.5 Intensity of Competitive Rivalry
7. Market Segmentation and Analysis
7.1 By Carrier Type
7.2 By Explosive Type
7.3 By Well Type
8. Regional Market Analysis
8.1 North America
8.2 Europe
8.3 South America
8.4 Asia-Pacific
8.5 Middle-East and Africa
9. Key Company Analysis
9.1 Baker Hughes - a GE Co.
9.2 Schlumberger Ltd.
9.3 Weatherford International Ltd.
9.4 Yellow Jacket (G&H Diversified Manufacturing, LP)
9.5 DYNAenergetics GmbH & Co KG
9.6 National Oilwell Varco Inc.
9.7 Halliburton Company
9.8 Hunting PLC
*List not exhaustive
10. Competitive Landscape
10.1 Mergers & Acquisitions
10.2 Joint Ventures, Collaborations and Agreements
10.3 Market Share Analysis
10.4 Strategies Adopted by Leading Players
For more information about this report visit https://www.researchandmarkets.com/research/566dsp/perforating_gun?w=4
