Perforating Gun Market Size, Share & Trends Analysis Report, 2024–2030
The global perforating gun market size was estimated at USD 1.17 billion in 2023 and is projected to reach USD 1.83 billion by 2030, growing at a CAGR of 5.7% from 2024 to 2030. This growth is attributed to the rising global energy demand which continues to drive exploration activities, directly boosting the demand for perforating guns used in well completion operations. Furthermore, flourishing shale gas production, particularly in regions like North America, is a significant driver for market growth as shale formations require specialized completion techniques. Additionally, innovations in product design and materials are enhancing their efficiency, reliability, and safety. This is expected to attract adoption of product in both conventional and unconventional reservoirs. Moreover, operators are increasingly investing in well intervention activities to enhance production from existing wells, which in turn, is further expected to fuel demand for pe...