Global Perforating Gun Market 2019-2023
About Perforating Gun
A perforating gun is used for punching holes in the well casting and cement sheath to create a flow path between the well and reservoir so that hydrocarbons can flow from the reservoir into the well.
Technavio’s analysts forecast the global perforating gun market to grow at a CAGR of 5.07% during the period 2019-2023.
Covered in this report
The report covers the present scenario and the growth prospects of the global perforating gun market for 2019-2023. To calculate the market size, the report considers the revenue generated from the use of agricultural films in different applications
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Perforating Gun Market 2019-2023
Technavio recognizes the following companies as the key players in the global perforating gun market: AECOM, Babcock International Group, Bechtel, Holtec International, Orano.
Commenting on the report, an analyst from Technavio’s team said: “The latest trend gaining momentum in the market is the increase in upstream oil and gas investments. Owing to the increase in investments, the activities in the upstream oil and gas segment are proliferating. This increase in upstream oil and gas investments is likely to boost the growth of the global perforating gun market during the forecast period.
According to the report, one of the major drivers for this market is the rise in oil and gas E&P activities. E&P is an upstream oil and gas activity that is performed to find and produce underlying oil and gas resources.
Further, the report states that one of the major factors hindering the growth of this market is the fluctuation in crude oil. The fluctuation of crude oil prices has pressurized many oil and gas companies which led to postpone E&P projects as the production of crude oil at low cost generation.
Babcock International Group
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