The Global Wireline Logging Services Market is expected to foresee significant growth. Latin America and Middle East & Africa (LAMEA) to lead the growth!
- Vikas Kumar
- September 13, 2022
- ENERGY & POWER, NEWS
- Wireline Logging Services Market Forecast, Wireline Logging Services Market Growth, Wireline Logging Services Market News, Wireline Logging Services Market Report, Wireline Logging Services Market Share, Wireline Logging Services Market Size, Wireline Logging Services Market Trend
- 0 Comments
The Wireline Logging Services Market is expected to grow at a CAGR of around 5% from 2022-2028. 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.
For a detailed analysis of the Global Wireline logging services Market browse through https://univdatos.com/report/wireline-logging-services-market/
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.
Based on line type, 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.
Request for a sample of the report browse through https://univdatos.com/get-a-free-sample-form-php/?product_id=24346
For a better understanding of the market adoption of wireline logging services, the market is analyzed based on its worldwide presence in the countries such as North America (U.S. and Canada), Europe (Denmark, U.K., Italy, Norway, and Rest of Europe), Asia-Pacific (China, Japan, India, Rest of Asia-Pacific), LAMEA (Saudi Arabia, U.A.E., Brazil, Mexico, and Rest of LAMEA). Latin America and the Middle East & Africa region 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.
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.
Global Wireline Logging Services Market Segmentation
Market Insight, by Hole Typpe
• Cased Hole
• Open Hole
Market Insight, by Line Type
- Electric line
- Slick line
Market Insight, by Region
- North America
- The U.S.
- The U.K.
- Rest of Europe
- Rest of Asia-Pacific
- Latin America, Middle East & Africa
- Saudi Arabia
- Rest of LAMEA
Top Company Profiles
• Baker Hughes Company
• Casedhole Solutions Inc.
• Schlumberger Ltd.
• Expro International Group Holding Ltd
• Halliburton Company
• Nabors Industries Ltd.
• Pioneer Energy Services Corp.
• Superior Energy Services Inc.
• Weatherford International Inc.