Perforating Gun Market 2017-2022 Segmented by Types,
Applications and Regions
The report "Perforating Gun Market by Gun Type (Wireline Conveyed, Tubing Hollow Carrier,
Tubing Strip, Tubing Conveyed), Depth (Up to 3000ft, 3000–8000ft, Above 8000ft), Well
Type (Horizontal, Vertical), Well Pressure (High, Low), and Region - Global Forecast to
2022", The perforating gun market is expected to grow from an estimated USD 749.0 Million in
2017 to USD 898.7 Million by 2022, at a CAGR of 3.71%, from 2017 to 2022. The global market is
set to witness significant growth due to the rising oil & gas production, shale gas exploration,
increase in average well depth over the years, and growing complexity of reservoir conditions.
Browse 77 Market Data Tables and 38 Figures spread through 149 Pages and in-depth TOC
on "Perforating Gun Market by Gun Type (Wireline Conveyed, Tubing Hollow Carrier,
Tubing Strip, Tubing Conveyed), Depth (Up to 3000ft, 3000–8000ft, Above 8000ft), Well
Type (Horizontal, Vertical), Well Pressure (High, Low), and Region - Global Forecast to
2022"
https://www.marketsandmarkets.com/Market-Reports/perforating-gun-market-135152126.html
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The vertical well segment is expected to hold the largest share of the perforating gun
market, by well type, during the forecast period.
Most oil & gas companies across the globe are investing in the upstream oil & gas sector. The
vertical well segment led the perforating gun market in 2016 and is expected to dominate the
market during the forecast period.
The growth of this segment is primarily driven by the advanced techniques in the upstream
sector and the increasing demand for oil & gas. In some cases, oil & gas operators still rely on
vertical drill wells where the oil/gas reserves are available at a short depth from the surface.
Furthermore, vertical wells are the most preferred form of wells as they can be further fractured
and converted into unconventional wells once oil production starts decreasing. These factors will
drive the vertical well segment.