Dublin, Oct. 04, 2022 (GLOBE NEWSWIRE) -- The "Global Oil & Gas Perforatory Services Market By Service (Laboratory Services, Perforatory Design, Shaped Charges, Gun Systems, Conveyance Services), By Perforation Type, By Well Type, and By Region, Competition, Forecast and Opportunities, 2017-2027" report has been added to ResearchAndMarkets.com's offering.
The global oil & gas perforatory services market is projected to grow at an impressive rate during the forecast period, 2023-2027. The market growth can be attributed to the increased shale gas exploration activities and the growing complexity of reservoir conditions. Besides, high oil & gas production to meet the increasing energy requirements across various end-user industries is anticipated to fuel the market growth.
To meet the expanding energy needs, 8,8391 thousand barrels of oil per day was produced globally in 2020, according to BP's statistical evaluation of world energy 2021. An increase in deepwater and ultra-deepwater exploration activities brought on by the strong demand for oil, significant end-user industries, and the rapid economic development of developing nations, are expected to boost the market growth.
The need for oil and gas drilling operations is rising due to the need to seek unexplored hydrocarbon sources for use in transportation, manufacturing, power production, and other applications. The global oil & gas perforatory services market is anticipated to benefit from developments in drilling technology, lower natural gas prices, and improved supply and distribution infrastructure over the forecast period.
In cased wells, the perforation technique is utilized to create a connection between the reservoir and wellbore, and as a result, it is crucial for increasing well productivity and recovery. The global oil & gas perforatory services market is anticipated to benefit significantly from high-end investment in research and development activities for upgrading stress-rock testing of the charging system and finding cutting-edge solutions to minimize damage and boost production during the forecast period.
The demand for the global oil & gas perforatory services market is anticipated to increase throughout the forecast period as a result of the incorporation of reactive materials from oilfield-shaped charges, advancements in analytical techniques, and the usage of 3D-digital imaging technologies.
Leading authorities are working to develop the renewable energy sector to minimize the adverse environmental effects and reduce carbon footprints, which is predicted to limit the usage of conventional energy sources, which could restrict the market growth.
The global oil & gas perforatory services market segmentation is based on the service, perforation type, well type, regional distribution, and competition. Based on the well type, the market is divided into horizontal well and vertical well. The horizontal well segment is expected to hold the largest share in the market as they require the reperforation of old wells.
Market players operating in the global oil & gas perforatory services market are Schlumberger Limited, Baker Hughes, Halliburton Company, Weatherford International, WellMax Oilfield Technologies, GeoDynamics, Liberty Oilfield Services LLC, and HLS Asia Limited, among others.
Key Target Audience:
- Market research and consulting firms
- Government bodies such as regulating authorities and policy makers
- Organizations, forums, and alliances
The study is useful in providing answers to several critical questions that are important for the industry stakeholders such as product manufacturers, suppliers and partners, end users, etc., besides allowing them in strategizing investments and capitalizing on market opportunities.
Report Scope:
Oil & Gas Perforatory Services Market, By Service:
- Laboratory Services
- Perforatory Design
- Shaped Charges
- Gun Systems
- Conveyance Services
Oil & Gas Perforatory Services Market, By Perforation Type:
- Round Hole
- Square Hole
- Slot Hole
Oil & Gas Perforatory Services Market, By Well Type:
- Horizontal Well
- Vertical Well
Oil & Gas Perforatory Services Market, By Region:
- North America
- United States
- Canada
- Mexico
- Asia-Pacific
- China
- India
- Japan
- South Korea
- Australia
- Singapore
- Malaysia
- Europe
- Germany
- United Kingdom
- France
- Italy
- Spain
- Poland
- Denmark
- South America
- Brazil
- Argentina
- Colombia
- Peru
- Chile
- Middle East & Africa
- Saudi Arabia
- South Africa
- UAE
- Iraq
- Turkey
Key Topics Covered:
1. Product Overview
2. Research Methodology
3. Impact of COVID-19 on Global Oil & Gas Perforatory Services Market
4. Executive Summary
5. Voice of Customer
6. Global Oil & Gas Perforatory Services Market Outlook
7. North America Oil & Gas Perforatory Services Market Outlook
8. Asia-Pacific Oil & Gas Perforatory Services Market Outlook
9. Europe Oil & Gas Perforatory Services Market Outlook
10. South America Oil & Gas Perforatory Services Market Outlook
11. Middle East & Africa Oil & Gas Perforatory Services Market Outlook
12. Market Dynamics
13. Market Trends & Developments
14. Company Profiles
15. Strategic Recommendations
Companies Mentioned
- Schlumberger Limited
- Baker Hughes
- Halliburton Company
- Weatherford International
- WellMax Oilfield Technologies
- GeoDynamics
- Liberty Oilfield Services LLC
- HLS Asia Limited
For more information about this report visit https://www.researchandmarkets.com/r/uh06od
