Wireline Logging Services Market: Current Analysis and Forecast (2022-2028)
Emphasis on Hole Types (Cased Hole, Open Hole); Line Types (Electric Line, Slick Line); and Region/Country
The Global Wireline Logging Services Market is expected to grow at a significant rate of around 5% during the forecast period. Wireline services are multiline cables or a high tensile single strandline, and therefore routine maintenance is to be carried out in wellbore with wireline tools. It performs various functions such as pipe recovery, intervention, reservoir evaluation, and others. Factors such as increasing investment in oil and gas companies in acquiring open hole log data, as logging activities can represent between 5% to 15% of total well costs. Therefore, it is important to ensure that cost of acquisition can be justified by the value of the information generated and that information is thereafter managed to perform various functions such as pipe recovery, intervention, reservoir evaluation, and others.
Furthermore, rising horizontal wells, high demand for real-time logging, and new technologies in shale gas exploration are some of the factors driving the global wireline logging services market. In addition, increased petrochemical consumption across different industries considering paints and coatings, energy, transportation, textiles, and plastic is expected to increase oil exploration activities, which drives the wireline logging services market during the forecast period. Technological advancements and strong financial backups have increased ultra-deep and deep oil exploration, which leads to driving the wireline logging services market.
Some of the major players operating in the market include Baker Hughes Company, Casedhole Solutions Inc., Schlumberger Ltd., Expro International Group Holding Ltd., Halliburton Company, Nabors Industries Ltd., OiLSERV, Pioneer Energy Services Corp., Superior Energy Services Inc., and Weatherford International Inc.
Insights Presented in the Report
“Amongst hole type, open hole category to witness robust CAGR during the forecast period”
Based on hole type, the wireline logging services market is bifurcated into the cased hole and open hole. Open hole category to witness higher CAGR during the forecast period. As open hole logging operations are performed before the wellbore has been cased. Also, the open logging technique is widely used at the global level as it renders no obstruction during the measurements. Therefore, soaring exploration for new oil and gas fields is still on in many countries for more products which is expected to create accelerate its market share in the wireline logging service market.
“Amongst line type, electric line segment to hold a significant share in the market in 2020”
Based on line types, the wireline logging services market is classified into the electric line and slick line. Among these, the electric line segment to hold a significant share in the market in 2020. As it improves efficiency and avoids capital wastage by having the information on oil field capacity. Also, the electric line is an electrical cable used to lower tools into the wellbore and transmit information about the conditions of the wellbore
“Middle East & Africa to hold a significant share in the market”
The Middle East & Africa is anticipated to grow at a substantial CAGR during the forecast period. This is mainly due to the rising crude oil prices that are expected to bring more revenue and investments for the E&P companies, and subsequently, it will lead to more contracts for oilfield services players. Also, the region has recently witnessed an upsurge in many upstream projects, both offshore and onshore which is expected to accentuate its market size.
Reasons to buy this report:
- The study includes market sizing and forecasting analysis validated by authenticated key industry experts.
- The report presents a quick review of overall industry performance at one glance.
- The report covers an in-depth analysis of prominent industry peers with a primary focus on key business financials, product portfolio, expansion strategies, and recent developments.
- Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry.
- The study comprehensively covers the market across different segments.
- Deep dive regional level analysis of the industry.
Customization Options:
The global Wireline logging services market can further be customized as per the requirement or any other market segment. Besides this, UMI understands that you may have your own business needs, hence feel free to connect with us to get a report that completely suits your requirements.
Table of Contents
Research Methodology for the Wireline logging services Market Analysis (2022-2028)
Analyzing the historical market, estimating the current market, and forecasting the future market of the global Wireline logging services market were the three major steps undertaken to create and analyze the adoption of wireline logging services in major regions globally. Exhaustive secondary research was conducted to collect the historical market numbers and estimate the current market size. Secondly, to validate these insights, numerous findings and assumptions were taken into consideration. Moreover, exhaustive primary interviews were also conducted, with industry experts across the value chain of the global wireline logging services market. Post assumption and validation of market numbers through primary interviews, we employed a top-down/bottom-up approach to forecasting the complete market size. Thereafter, market breakdown and data triangulation methods were adopted to estimate and analyze the market size of segments and sub-segments of the industry pertains to. Detailed methodology is explained below:
Seek More Details About Research Methodology
Analysis of Historical Market Size
Step 1: In-Depth Study of Secondary Sources:
Detail secondary study was conducted to obtain the historical market size of the wireline logging services market through company internal sources such as annual reports & financial statements, performance presentations, press releases, etc., and external sources including journals, news & articles, government publications, competitor publications, sector reports, third-party database, and other credible publications.
Step 2: Market Segmentation:
After obtaining the historical market size of the wireline logging services market, we conducted a detailed secondary analysis to gather historical market insights and share for different segments & sub-segments for major regions. Major segments are included in the report as hole types and line types. Further country-level analyses were conducted to evaluate the overall adoption of testing models in that region.
Step 3: Factor Analysis:
After acquiring the historical market size of different segments and sub-segments, we conducted a detailed factor analysis to estimate the current market size of the wireline logging services market. Further, we conducted factor analysis using dependent and independent variables such as various hole types and line types. A thorough analysis was conducted for demand and supply-side scenarios considering top partnerships, mergers and acquisitions, business expansion, and product launches in the Wireline logging services market sector across the globe.
Current Market Size Estimate & Forecast
Current Market Sizing: Based on actionable insights from the above 3 steps, we arrived at the current market size, key players in the global wireline logging services market, and market shares of the segments. All the required percentage shares split, and market breakdowns were determined using the above-mentioned secondary approach and were verified through primary interviews.
Estimation & Forecasting: For market estimation and forecast, weights were assigned to different factors including drivers & trends, restraints, and opportunities available for the stakeholders. After analyzing these factors, relevant forecasting techniques i.e., the top-down/bottom-up approach were applied to arrive at the market forecast for 2028 for different segments and sub-segments across the major markets globally. The research methodology adopted to estimate the market size encompasses:
- The industry’s market size, in terms of revenue (USD) and the adoption rate of the wireline logging services market across the major markets domestically
- All percentage shares, splits, and breakdowns of market segments and sub-segments
- Key players in the global wireline logging services market in terms of service offered. Also, the growth strategies adopted by these players to compete in the fast-growing market
Market Size and Share Validation
Primary Research: In-depth interviews were conducted with the Key Opinion Leaders (KOLs) including Top Level Executives (CXO/VPs, Sales Head, Marketing Head, Operational Head, Regional Head, Country Head, etc.) across major regions. Primary research findings were then summarized, and statistical analysis was performed to prove the stated hypothesis. Inputs from primary research were consolidated with secondary findings, hence turning information into actionable insights.
Split of Primary Participants in Different Regions
Market Engineering
The data triangulation technique was employed to complete the overall market estimation and to arrive at precise statistical numbers for each segment and sub-segment of the global wireline logging services market. Data was split into several segments & sub-segments post studying various parameters and trends in the areas of hole types and line types in the global wireline logging services market.
The main objective of the Global Wireline Logging Services Market Study
The current & future market trends of the global wireline logging services market were pinpointed in the study. Investors can gain strategic insights to base their discretion for investments on the qualitative and quantitative analysis performed in the study. Current and future market trends determined the overall attractiveness of the market at a regional level, providing a platform for the industrial participant to exploit the untapped market to benefit from a first-mover advantage. Other quantitative goals of the studies include:
- Analyze the current and forecast market size of the wireline logging services market in terms of value (USD). Also, analyze the current and forecast market size of different segments and sub-segments
- Segments in the study include areas of hole types and line types.
- Define and analysis of the regulatory framework for the wireline logging services
- Analyze the value chain involved with the presence of various intermediaries, along with analyzing customer and competitor behaviors of the industry.
- Analyze the current and forecast market size of the wireline logging services market for the major region.
- Major countries of regions studied in the report include Asia Pacific, Europe, North America, Middle East & Africa, and the Rest of the World.
- Company profiles of the wireline logging services market and the growth strategies adopted by the market players to sustain in the fast-growing market
- Deep dive regional level analysis of the industry
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