Perforating Gun Market Size & Share Analysis - Growth Trends & Forecasts (2025 - 2030)

The Report Covers Global Perforating Gun Manufacturers and the Market is Segmented by Carrier Type (Hollow Carrier, Expandable Shaped Charged Gun, And Other Carrier Types), Explosive Type (Cyclotrimethylene Trinitramine (RDX), Cyclotetramethylene Trinitramine (HMX), And Hexanitrosilbene (HNS)), Well Type (Horizontal and Deviated Well and Vertical Well), And Geography (North America, Europe, Asia-pacific, South America, And Middle East & Africa).

Perforating Gun Market Size & Share Analysis - Growth Trends & Forecasts (2025 - 2030)

Perforating Gun Market Size

Perforating Gun Market Summary
Study Period 2020 - 2030
Market Size (2025) USD 1.22 Billion
Market Size (2030) USD 1.60 Billion
CAGR (2025 - 2030) 5.50 %
Fastest Growing Market Asia Pacific
Largest Market North America
Market Concentration Medium

Major Players

Perforating Gun Market Major Players

*Disclaimer: Major Players sorted in no particular order

Compare market size and growth of Perforating Gun Market with other markets in Energy & Power Industry

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Perforating Gun Market Analysis

The Perforating Gun Market size is estimated at USD 1.22 billion in 2025, and is expected to reach USD 1.60 billion by 2030, at a CAGR of 5.5% during the forecast period (2025-2030).

  • Over the medium term factors such as the rise in oil and gas drilling activities across the world, increased shale gas exploration, and technological developments in perforating gun systems are expected to drive the perforating gun market during the forecast period.
  • On the other hand, renewable energy is likely to increase its share and contribute to 50% of global power in the next few decades. It is expected to restrain the perforating gun market in the coming years.
  • Nevertheless, the discovery of new unconventional wells is expected to provide opportunities for the perforation gun market.
  • North America is one of the largest markets for perforating guns, led by the United States mainly due to increased exploration and production activities in its tight oil and shale reserves.

Perforating Gun Industry Overview

The perforating gun market is semi-fragmented. Some of the major companies (in no particular order) are Baker Hughes Company, Schlumberger Limited, Weatherford International PLC, NOV Inc., and Halliburton Company.

Perforating Gun Market Leaders

  1. Baker Hughes Company

  2. Schlumberger Limited

  3. Weatherford International plc

  4. NOV Inc.

  5. Halliburton Company

  6. *Disclaimer: Major Players sorted in no particular order
Market Concentration - Perforating Gun Market.png
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Perforating Gun Market News

  • In July 2023, DynaEnergetics unveiled DS Gravity 2.0, marking a breakthrough as the most compact, self-orienting perforating gun in the oil and gas sector. This length-optimized system is crafted to enhance perforation efficiency, save time, and contribute to the profitability of wells. Its patented design leverages gravity for internal component orientation, eliminating the necessity for orienting subs, swivels, and eccentric weight bars. As the second generation of the DS Gravity system, it boasts the shortest gun body in the market, allowing customers to augment the total gun count in their perforating strings.
  • In April 2023, VIGOR's latest batch of meticulously inspected perforating guns is set for transportation to clients in Southeast Asia, with deployment anticipated in regions like Malaysia, Indonesia, Vietnam, Laos, and other strategic locations.

Perforating Gun Market Report - Table of Contents

1. INTRODUCTION

  • 1.1 Scope of the Study
  • 1.2 Market Definition
  • 1.3 Study Assumptions

2. EXECUTIVE SUMMARY

3. RESEARCH METHODOLOGY

4. MARKET OVERVIEW

  • 4.1 Introduction
  • 4.2 Market Size and Demand Forecast in USD, till 2029
  • 4.3 Recent Trends and Developments
  • 4.4 Government Policies and Regulations
  • 4.5 Market Dynamics
    • 4.5.1 Drivers
    • 4.5.1.1 Rise In Oil And Gas Drilling Activities And Associated Investments
    • 4.5.1.2 Technological Developments In Perforating Gun Systems
    • 4.5.2 Restraints
    • 4.5.2.1 Increased Focus On Renewable Energy Technologies To Fulfill Rising Energy Demand
  • 4.6 Supply Chain Analysis
  • 4.7 Porter's Five Forces Analysis
    • 4.7.1 Bargaining Power of Suppliers
    • 4.7.2 Bargaining Power of Consumers
    • 4.7.3 Threat of New Entrants
    • 4.7.4 Threat of Substitutes Products and Services
    • 4.7.5 Intensity of Competitive Rivalry

5. MARKET SEGMENTATION

  • 5.1 Carrier Type
    • 5.1.1 Hollow Carrier
    • 5.1.2 Expandable Shaped Charged Gun
    • 5.1.3 Other Carrier Types
  • 5.2 Explosive Type
    • 5.2.1 Cyclotrimethylene Trinitramine (RDX)
    • 5.2.2 Cyclotetramethylene Trinitramine (HMX)
    • 5.2.3 Hexanitrosilbene (HNS)
  • 5.3 Well Type
    • 5.3.1 Horizontal and Deviated Well
    • 5.3.2 Vertical Well
  • 5.4 Geography
    • 5.4.1 North America
    • 5.4.1.1 United States
    • 5.4.1.2 Canada
    • 5.4.1.3 Rest of North America
    • 5.4.2 Europe
    • 5.4.2.1 Norway
    • 5.4.2.2 United Kingdom
    • 5.4.2.3 Russia
    • 5.4.2.4 Rest of Europe
    • 5.4.3 Asia-Pacific
    • 5.4.3.1 China
    • 5.4.3.2 India
    • 5.4.3.3 Indoensia
    • 5.4.3.4 Malaysia
    • 5.4.3.5 Rest of Asia-Pacific
    • 5.4.4 South America
    • 5.4.4.1 Chile
    • 5.4.4.2 Brazil
    • 5.4.4.3 Argentina
    • 5.4.4.4 Rest of South Africa
    • 5.4.5 Middle East & Africa
    • 5.4.5.1 United Arab Emirates
    • 5.4.5.2 Saudi Arabia
    • 5.4.5.3 South Afica
    • 5.4.5.4 Egypt
    • 5.4.5.5 Nigeria
    • 5.4.5.6 Rest of Middle East & Africa

6. COMPETITIVE LANDSCAPE

  • 6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
  • 6.2 Strategies Adopted by Leading Players
  • 6.3 Company Profiles
    • 6.3.1 Baker Hughes Company
    • 6.3.2 Schlumberger Limited
    • 6.3.3 Weatherford International PLC
    • 6.3.4 NOV Inc.
    • 6.3.5 Halliburton Company
    • 6.3.6 Hunting PLC
    • 6.3.7 DMC Global Inc.
    • 6.3.8 DynaEnergetics GmbH & Co KG
    • 6.3.9 China Shaanxi FYPE Rigid Machinery Co. Ltd
    • 6.3.10 Core Laboratories NV
  • *List Not Exhaustive
  • 6.4 Market Ranking/Share (%) Analysis

7. MARKET OPPORTUNITIES AND FUTURE TRENDS

  • 7.1 Development of Unconventional Reservoirs
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Perforating Gun Industry Segmentation

A perforating gun is a device used to make holes in oil and gas wells in preparation for production. Perforations are made for oil or gas to flow into the wellbore. This is done by a perforating gun lowered down the well. These guns usually have an explosive-shaped charge that helps to make the type of openings called for in opening different types and sizes of casings. Expendable guns, retrievable hollow guns, and semi-expandable guns are a few common perforating guns used in the industries.

The perforating gun market is segmented by carrier type, explosive type, well type, and geography. By carrier type, the market is segmented into the hallow carrier, expandable shaped charged gun, and other carrier type. By explosive type, the market is segmented into Cyclotrimethylene Trinitramine (RDX), Cyclotetramethylene Trinitramine (HMX), Hexanitrosilbene (HNS). By well type, the market is segmented into Horizontal, Deviated Well and Vertical Well. The report also covers the market size and forecasts for the perforating gun market across the major countries in the region. For each segment, the market size and forecasts have been done based on revenue (USD).

Carrier Type Hollow Carrier
Expandable Shaped Charged Gun
Other Carrier Types
Explosive Type Cyclotrimethylene Trinitramine (RDX)
Cyclotetramethylene Trinitramine (HMX)
Hexanitrosilbene (HNS)
Well Type Horizontal and Deviated Well
Vertical Well
Geography North America United States
Canada
Rest of North America
Europe Norway
United Kingdom
Russia
Rest of Europe
Asia-Pacific China
India
Indoensia
Malaysia
Rest of Asia-Pacific
South America Chile
Brazil
Argentina
Rest of South Africa
Middle East & Africa United Arab Emirates
Saudi Arabia
South Afica
Egypt
Nigeria
Rest of Middle East & Africa
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Perforating Gun Market Research FAQs

How big is the Perforating Gun Market?

The Perforating Gun Market size is expected to reach USD 1.22 billion in 2025 and grow at a CAGR of 5.5% to reach USD 1.60 billion by 2030.

What is the current Perforating Gun Market size?

In 2025, the Perforating Gun Market size is expected to reach USD 1.22 billion.

Who are the key players in Perforating Gun Market?

Baker Hughes Company, Schlumberger Limited, Weatherford International plc, NOV Inc. and Halliburton Company are the major companies operating in the Perforating Gun Market.

Which is the fastest growing region in Perforating Gun Market?

Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2025-2030).

Which region has the biggest share in Perforating Gun Market?

In 2025, the North America accounts for the largest market share in Perforating Gun Market.

What years does this Perforating Gun Market cover, and what was the market size in 2024?

In 2024, the Perforating Gun Market size was estimated at USD 1.15 billion. The report covers the Perforating Gun Market historical market size for years: 2020, 2021, 2022, 2023 and 2024. The report also forecasts the Perforating Gun Market size for years: 2025, 2026, 2027, 2028, 2029 and 2030.

Perforating Guns Industry Report

Statistics for the 2025 Perforating Gun market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Perforating Gun analysis includes a market forecast outlook for 2025 to 2030 and historical overview. Get a sample of this industry analysis as a free report PDF download.