Market Size of Perforating Gun Industry
| Study Period | 2020-2029 |
| Market Size (2024) | USD 1.16 Billion |
| Market Size (2029) | USD 1.51 Billion |
| CAGR (2024 - 2029) | 5.50 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Perforating Gun Market Analysis
The Perforating Gun Market size is estimated at USD 1.16 billion in 2024, and is expected to reach USD 1.51 billion by 2029, growing at a CAGR of 5.5% during the forecast period (2024-2029).
- 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.
