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Wireline Logging Services Market growth will be driven by escalating demand for real-time data collection via electric tools

Author : Ronak Bora | Published Date : 2019-03-18 

Wireline Logging Services Market trends is escalated by rising need for non-conventional energy resources and real-time data collection via electric tools. Substantial rise in real-time data gathering through electric tools is anticipated to fuel wireline logging services market growth from 2015 to 2022. Escalating exploration and production (E&P) spending due to technological advancements facilitating ease of access to unusual as well as deep water reservoirs is forecast to boost demand. High oil & gas production from North Dakota’s Bakken Shale and the Marcellus Shale in north eastern region of the U.S. has become a source of increased onshore oil & gas production.

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Wireline logging services market is segmented into cased-hole logging and open hole logging services. Cased hole logging services industry, which accounted for 75% of the global wireline logging services market share in 2014, is expected to maintain its dominance over the coming five years. Open hole logging services is likely to cross a revenue of USD 5 billion by 2022. Heavy demand for new wireline logging services for ultra-deep water reserves are predicted to drive the growth.

Increased possibilities of shale gas production around the globe are expected to drive the wireline logging services market over the next seven years. Factors such as authorization of subsoil property rights to surface property owners, sanctity of contracts and decentralized regulatory context are projected to further impact the industry.

Various technologies such as Slickline and E-line are used to measure & transmit the real-time logging data along with measuring of well-depth, down-hole pressures, and temperatures. Slickline technology segment in wireline logging services industry worth USD 6 billion in 2014, is expected to grow at a rate of 7.4% over the period of 2015-2022. It saves costs, allows safer operations, and provides reliable pressure control with low ecological risks. E-line technology segment is expected to witness a massive growth over the coming timeframe, driven by its capacity to transmit data in the electric mode along with large-scale applications in exploration & production activities.

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E-Line services are expected to experience massive growth opportunities owing to broad application across numerous E&P activities. In addition, its ability to transmit electric data by providing a communication pathway through downhole equipment and the surface is predicted to further contribute to growth.

North America wireline logging services market is expected to continue its domination over the coming five years, driven by rise in the number of offshore as well as onshore activities along with an increase in the rate of shale gas exploration activities. U.S. is expected to contribute significantly towards the regional share.

U.S. wireline logging services market growth can be associated to rising number of wells in both onshore and offshore areas accompanied by increasing shale exploration.

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About Author

Ronak Bora

Ronak Bora

A graduate in Electronics Engineering, Ronak writes for Fractovia.org and carries a rich experience in digital marketing, exploring how the online world works from a technical and marketing perspective. His other areas of interest include reading, music, and sport. He can be contacted at- [email protected] | https://twitter.com/RonakBora26

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