Perforating Gun Market Set for $1.83 Billion Surge by 2030 Amid Horizontal Drilling Boom

Whats Happening:

The global perforating gun market is projected to grow from $1.24 billion in 2024 to $1.83 billion by 2030, at a CAGR of 5.7%. This growth is driven by increasing global energy demand, technological advancements in horizontal drilling and hydraulic fracturing, and the need for enhanced oil and gas production from unconventional reserves.

Key Moves:

• Perforating gun market projected to reach $1.83 billion by 2030

• 5.7% CAGR expected from 2024 to 2030

• Growth driven by demand for unconventional oil and gas reserves

By The Numbers:

• Market value in 2024: $1.24 billion

• Projected market value in 2030: $1.83 billion

• North America's market share: 35.3% of total revenue

Bottom Line:

The perforating gun market is experiencing significant growth due to increasing global energy demand and the need for enhanced oil and gas production from unconventional reserves. Technological advancements in horizontal drilling and hydraulic fracturing are driving demand for high-performance perforating guns, particularly in North America and emerging markets.

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