United States Perforating Gun Market Report and Forecast 2025-2034

The United States perforating gun market size reached approximately USD 1.15 Million in 2024. The market is estimated to grow at a CAGR of 5.40% in the forecast period of 2025-2034, reaching a value of around USD 1.95 Million by 2034.

Key Trends in the Market

A perforating gun is a device which is used to make holes in oil and gas wells during the production process. These guns carry explosive-shaped charges and are available in a broad range of sizes and configurations.

• Increased usage of hollow carrier guns, which offer larger charges, minimise casing damage, and provide precise penetration capabilities, is one of the key United States perforating gun market trends. These guns offer better control over the charging placement as compared to conventional guns, enhancing the overall accuracy of the perforation process.
• The advent of new perforating gun systems, which consist of a better mechanical design than traditional gun systems, is another crucial trend boosting the market growth. These systems have a simple intricate design that eliminates the risk of accidental detonation from stray charge or voltage, improving overall worker safety.
• Growing collaboration and alliances between market players and power plants are also expected to create new opportunities for the United States perforating gun market growth. For example, in March 2023, Baker Hughes, a US-based company, entered into a 12-month agreement with Ecopetrol, a petroleum provider as well as CHEC, a hydroelectric power plant based in Columbia, to implement a geothermal project in the Nereidas Valley.

United States Perforating Gun Market Segmentation

United States Perforating Gun Market Report and Forecast 2025-2034 offers a detailed analysis of the market based on the following segments:

Market Breakup by Gun Type:

• Wireline Conveyed Casing
• Through Tubing Hollow Carrier
• Through Tubing Strip
• Tubing Conveyed Perforating

Market Breakup by Carrier Type:

• Hollow Carrier
• Expandable Shaped Charged Gun
• Others

Market Breakup by Explosive Type:

• Cyclotrimethylene Trinitramine (RDX)
• Cyclotetramethylene Trinitramine (HMX)
• Hexanitrosilbene (HNS)

Market Breakup by Depth Type:

• Up To 3000 ft
• 3001-8000 ft
• Above 8000 ft

Market Breakup by Pressure Type:

• High Pressure
• Low Pressure

Market Breakup by Well Type:

• Horizontal and Deviated Well
• Vertical Well

Market Breakup by Application Type:

• Onshore
• Offshore

Market Breakup by Region :

• New England
• Mideast
• Great Lakes
• Plains
• Southeast
• Southwest
• Rocky Mountain
• Far West

Market Share by Well Type

Horizontal and deviated wells occupy a significant portion of the United States perforating gun market share, owing to increasing horizontal well drilling for shale gas exploration. These wells are further gaining popularity in the country as they offer larger areas of contact with impacted surfaces, which reduces the overall operational and maintenance costs.

The rise in horizontal drilling activities in the offshore region is also expected to provide lucrative opportunities for the market growth. As per various estimates, horizontal wells constitute about 97% of US oil projects, which further provides a positive market outlook.

Market Share by Application

As per the United States perforating gun market analysis, onshore drilling accounts for a sizeable share of the US market, due to the rising usage of perforating guns in onshore oil wells. With the rise in the number of onshore oil and gas projects, the demand for perforating guns is expected to foresee an upward trajectory in the coming years.

Furthermore, growing acquisition and partnership activities in the US onshore oil and gas market are expected to positively influence the market expansion in the forecast period.

Competitive Landscape

The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis. The report gives a detailed analysis of the following key players in the United States perforating gun market, covering their competitive landscape and latest developments like mergers, acquisitions, investments, and expansion plans.

General Electric Company (Baker Hughes Company)

General Electric Company (Baker Hughes Company), founded in 1908, is a leader in oil and gas production, with its headquarters in Texas, the United States. The company offers a comprehensive range of perforating gun systems which perforate long intervals and maximise the production process.

NOV Inc.

NOV Inc. is a multinational company of oilfield and technologies, established in 1862 and based in Texas, the United States. The company offers various products and services such as artificial lift, solar technology, saltwater disposal, biogas solutions, composite solutions, and hydrogen solutions, among others.

Schlumberger N.V.

Schlumberger N.V., incorporated in 1926 and headquartered in Texas, the United States, is an offshore drilling company. The company has implemented a climate action strategy in its operational process to achieve net zero emissions by the year 2050.

Other United States perforating gun market players include Weatherford International plc, Halliburton Energy Services, Inc., DMC Global Broomfield, CO., Hunt & Hunt, Ltd., SWM Technologies LLC, Hunting Plc, and Vigor USA, among others.