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Middle East And North Africa Perforating Gun Market Size (2024 - 2029)

The Middle East and North Africa perforating gun market is projected to experience growth driven by increased oil and gas drilling activities and shale gas exploration in the region. Despite the potential restraining impact of the growing share of renewable energy, opportunities are anticipated from the discovery of new oil and gas fields and the reperforation of old wells. Saudi Arabia stands out as a significant market due to its exploration and production activities in tight oil and shale reserves.

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Market Size of Middle East And North Africa Perforating Gun Industry

Middle-East and North Africa Perforating Gun Market Summary
Study Period 2020 - 2029
Base Year For Estimation 2023
Market Size (2024) USD 270.37 Million
Market Size (2029) USD 348.37 Million
CAGR (2024 - 2029) 5.20 %
Market Concentration Medium

Major Players

Middle East and North Africa Perforating Gun Market Major Players

*Disclaimer: Major Players sorted in no particular order

Middle East And North Africa Perforating Gun Market Analysis

The Middle East And North Africa Perforating Gun Market size is estimated at USD 270.37 million in 2024, and is expected to reach USD 348.37 million by 2029, growing at a CAGR of 5.20% during the forecast period (2024-2029).

  • Over the medium period, the rise in oil and gas drilling activities across the Middle East and North Africa, including Saudi Arabia, the United Arab Emirates, Algeria, and Egypt, and increased shale gas exploration are expected to drive the perforating gun market during the forecast period.
  • On the other note, renewable energy is likely to increase its share and contribute to around 50% of power in the MENA region in the next few decades. This is expected to restrain the perforating gun market in the coming years.
  • Nevertheless, the discovery of new oil and gas fields, particularly in Shadoon, Shehab, Shorfa, Umm Khansir, and Samna in the Middle East, and the reperforation of old wells are expected to provide opportunities for the perforation gun market.
  • Saudi Arabia is one of the largest markets for perforating guns due to increased exploration and production activities in its tight oil and shale reserves.

Middle East And North Africa Perforating Gun Industry Segmentation

A perforating gun is used to make holes in oil and gas wells in preparation for production. For oil and gas to flow into the wellbore, perforations must be made, and this is accomplished by lowering the gun down the well.

The Middle East and North Africa perforating gun market is segmented by carrier type, well type, and geography. By carrier type, the market is segmented by the hollow carrier, expandable shaped charged gun, and other carrier types. By well type, the market is segmented by horizontal well, deviated well, and vertical well. By geography, the market is segmented into Saudi Arabia, the United Arab Emirates, South Africa, and the Rest of Middle East and North Africa. The report also covers the market size and forecasts for the perforating gun market across major regions. For each segment, the forecasts are mentioned in the revenue (USD).

By Carrier Type
Hollow Carrier
Expandable Shaped Charged Gun
Other Carrier Types
By Well Type
Horizontal and Deviated Well
Vertical Well
By Geography
Saudi Arabia
United Arab Emirates
South Africa
Algeria
Egypt
Libya
Morocco
Sudan
Rest of Middle East and North Africa
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Middle East And North Africa Perforating Gun Market Size Summary

The Middle East and North Africa perforating gun market is poised for growth, driven by increased oil and gas drilling activities in key countries such as Saudi Arabia, the United Arab Emirates, Algeria, and Egypt. The market is expected to expand as exploration and production activities intensify, particularly in shale gas reserves. Technological advancements in horizontal drilling and multi-stage hydraulic fracturing are unlocking vast unconventional resources, further propelling market demand. Despite the rising share of renewable energy in the region, the discovery of new oil and gas fields and the reperforation of old wells present significant opportunities for market growth. Saudi Arabia, with its substantial crude oil production and focus on unconventional reserves, is a major player in the market, leveraging its control over the international upstream market to influence demand for perforating guns.

The market landscape is moderately fragmented, with key players like Baker Hughes, Schlumberger, Weatherford, NOV Inc., and Halliburton leading the charge. Recent innovations, such as GEODynamics' EPIC suite and DynaEnergetics' DS GRAVITY 2.0, highlight the industry's focus on enhancing operational efficiency and safety. The increasing rig count in the region, driven by exploration and drilling activities, underscores the necessity of perforating guns for well activation and completion. As countries like the United Arab Emirates, Qatar, and Libya explore their shale reserves, the demand for perforating guns is expected to rise, particularly in horizontal and deviated well applications. This trend, coupled with Saudi Arabia's strategic investments in exploration and production, positions the region for continued growth in the perforating gun market over the forecast period.

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Middle East And North Africa Perforating Gun Market Size - Table of Contents

  1. 1. MARKET OVERVIEW

    1. 1.1 Introduction

    2. 1.2 Market Size and Demand Forecast in USD billion, till 2029

    3. 1.3 Recent Trends and Developments

    4. 1.4 Government Policies and Regulations

    5. 1.5 Recent Trends and Developments

    6. 1.6 Market Dynamics

      1. 1.6.1 Drivers

        1. 1.6.1.1 The Rise in Oil and Gas Drilling Activities

        2. 1.6.1.2 Increased Shale Gas Exploration

      2. 1.6.2 Restraints

        1. 1.6.2.1 Increasing Share of Renewable Energy

    7. 1.7 Porter's Five Forces Analysis

      1. 1.7.1 Bargaining Power of Suppliers

      2. 1.7.2 Bargaining Power of Consumers

      3. 1.7.3 Threat of New Entrants

      4. 1.7.4 Threat of Substitutes Products and Services

      5. 1.7.5 Intensity of Competitive Rivalry

  2. 2. MARKET SEGMENTATION

    1. 2.1 By Carrier Type

      1. 2.1.1 Hollow Carrier

      2. 2.1.2 Expandable Shaped Charged Gun

      3. 2.1.3 Other Carrier Types

    2. 2.2 By Well Type

      1. 2.2.1 Horizontal and Deviated Well

      2. 2.2.2 Vertical Well

    3. 2.3 By Geography

      1. 2.3.1 Saudi Arabia

      2. 2.3.2 United Arab Emirates

      3. 2.3.3 South Africa

      4. 2.3.4 Algeria

      5. 2.3.5 Egypt

      6. 2.3.6 Libya

      7. 2.3.7 Morocco

      8. 2.3.8 Sudan

      9. 2.3.9 Rest of Middle East and North Africa

Middle East And North Africa Perforating Gun Market Size FAQs

The Middle East And North Africa Perforating Gun Market size is expected to reach USD 270.37 million in 2024 and grow at a CAGR of 5.20% to reach USD 348.37 million by 2029.

In 2024, the Middle East And North Africa Perforating Gun Market size is expected to reach USD 270.37 million.

Middle East And North Africa Perforating Gun Market Report Snapshots

Middle East and North Africa Perforating Gun Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)