Global Perforating Gun Market Growth
Oil And Gas

Insights Into The Perforating Gun Market’s Growth Opportunities Through 2023-2032 – Includes Perforating Gun Market Growth

The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032


The increasing demand for oil are expected to drive innovation in perforating gun manufacturing, thus driving the market during the forecast period.


The global perforating gun market is expected to grow from $1.06 billion in 2022 to $1.13 billion in 2023 at a compound annual growth rate (CAGR) of 7.0%. The perforating gun market size is expected to grow to $1.45 billion in 2027 at a CAGR of 6.3%.


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Global Perforating Gun Market Segments Include:

  • By Carrier Type: Hollow Carrier, Expandable Shaped Charged Gun, Other Types
  • By Explosive Types: Cyclotrimethylene Trinitramine (RDX), Cyclotetramethylene Trinitramine (HMX), Hexanitrosilbene (HNS)
  • By Pressure: High Pressure, Low Pressure
  • By Application: Onshore, Offshore
  • By Geography: The market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, North America is the largest region in the global perforating gun market in 2021.


Major Market Players in the perforating gun market include Baker Hughes Co, DMC Global Inc., G&H Diversified Manufacturing, Halliburton Company, Hunting PLC, National Oilwell Varco Inc., Schlumberger Ltd.


Technological innovations are a key trend gaining popularity in the perforating gun market. Innovations in well drilling operations have enabled the energy industry to tap new sources of oil and natural gas to fulfil expanding demand. Technological advancements have contributed to reducing the environmental impact of energy extraction by enabling more oil and gas to be obtained with fewer wells. Major companies operating in the perforating gun market are focused on developing new technological solutions to strengthen their position. For instance, in August 2021, Hunting Titan, a US-based logging and perforating equipment manufacturer, launched H-3 perforating system to enhance the company’s existing integrated perforating systems line. The H-3 perforating design incorporates all of Hunting’s H-1 perforating system’s dependability and safety features and the industry’s first wireless, safe detonator with the latest switch technology, the ControlFire V3 that reduce tool string length and weight. The H-3 System is also compatible with industry-standard shaped charges, which increases the product’s desirability to operators.


The Perforating Gun Global Market Report 2023  provides a perforating gun market overview for the time series: historic years (2010 – 2021) and ten years forecast (2023 – 2032). The perforating gun market forecast analyzes perforating gun market size, perforating gun market share, leading competitor market positions. The regions covered in the report include Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa and the countries include Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.


A perforating gun is a tool used to create holes in oil and gas wells prior to production. Perforating guns are available in a variety of sizes and combinations. Through-tubing guns and hollow-carrier, or casing, guns are the two main types of gun systems. Hollow-carrier guns are larger than through-tube guns, allowing for larger charges, more phasing possibilities, and better shot density.


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