Wireline Logging Services Market Size To hit $24bn by 2022
Published Date: September 3, 2019 Authors: Ankit Gupta, Aditya Singh Bais
Wireline Logging Services Market is set to cross USD 24 Billion by 2022, as reported in the latest study by Global Market Insights, Inc.
Wireline logging industry is set to witness gains owing to rising investments toward oil & gas, mineral & geothermal exploration and environmental & geotechnical studies. Measurement while drilling (Mwd), and gamma ray are some logging techniques that are being implemented across the industry. Furthermore, increasing investments aimed toward energy infrastructure expansion to cater to the steady demand of oil will enhance the industry outlook over the coming years.
Escalating demand for real-time logging, rising demand for energy, and growing potential recoverable resource will raise the technology adoption over the forecast period. Evolving standards along with ongoing technology advancements has created a positive outlook toward wireline logging services market. In addition, growing demand for optimizing the exploration & production activities on account of creating a sustainable profit margin will further augment business growth.
Get more details on this report - Request Free Sample PDF
Increasing demand for optimization of drilling processes coupled with growing initiatives toward research & development to enhance control across various process requirements will drive the market. The equipment is lowered inside the well through open or cased hole and provides critical information which may be utilized for increasing efficiency of the drilling process.
Wireline logging service industry will witness growth on account of increasing developments in directional drilling & reservoir simulations coupled with growing demand of technology to accurately determine repair & maintenance position. In addition, easy access to data pertaining to corrosive environments and pressure will further boost product adoption.
Browse key industry insights spread across 90 pages with 33 market data tables & 35 figures & charts from the report, “Wireline Logging Services Market Size By Hole (Cased Hole, Open Hole), By Technology (E-Line, Slickline), Industry Analysis Report, Application Potential, Price Trend, Competitive Market Share & Forecast, 2015–2022”in detail along with the table of contents:
Open hole wireline logging services market is anticipated to grow over 7% by 2022. Ability to efficiently operate in ultra-deep water at high pressure & temperature will drive the product deployment over the forecast period. Intense industry competition has forced the industry participants to develop innovative solutions with reduced cost which in turn will proliferate the technology demand.
E-line technology industry is set to grow on account of its ability to offer real time data generation from tubing inspections, reservoir monitoring and cement bond logs to enhance depth control. The technology allows continuous transmission of logging data to the surface and uses a steel armored electric cable. Furthermore, it is dependent on the wireline strength and number of electrical conductors.
Middle East wireline logging services market is expected to witness substantial gain on account of increasing private investments to exploit the region’s untapped hydrocarbon potential. Growing demand for the adoption of digital technologies with an aim to enhance the productivity will boost product penetration.
Key market participants functioning across the market include Nabors Industries, OilSERV, Superior Energy Services, Baker Hughes, Weatherford International, Pioneer Energy Services, Halliburton and Schlumberger amongst others.