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Wireline Logging Services Market to register an excellent growth up to 2022, North America to capture a major portion of the global industry

Author : Ronak Bora | Published Date : 2019-03-25 

North America held the highest wireline logging services market share in 2014 and is expected to lead over the forecast period. This can be credited to increasing number of wells both in onshore and offshore areas and growing shale activities across the region.

Latin America wireline logging services market is projected to witness substantial growth owing to rising energy demands.The wireline logging market is dominated by players such as Baker Hughes, Halliburton, Weatherfor International, Schlumberger, OilSERV, Pioner Energy Services, Nabors Industries and Superior Energy Services. New product development and optimization of distribution channels are the key strategies followed by the industry participants.

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Escalating demand for real-time data collection via electric tools and rising need for non-conventional energy resources will drive wireline logging services market growth over the coming years. Introduction of new technologies has resulted in high capital investments in exploration & production activities, thereby encouraging the industry trends. According to Global Market Insights, Inc., “Wireline logging services market size is anticipated to be worth USD 24 billion by 2022.” Moreover, continuously changing consumer needs along with evolving standards are expected to boost the industry revenue over the next few years. Decentralization, providing of subsoil property rights to property owners, and strict regulations & contracts will favorably influence industry growth. Booming oil & gas sector is predicted to further contribute towards the wireline logging services industry growth over the coming years.

Wireline logging services market in Open-hole services is expected grow at over 7.5% CAGR and will reach over USD 5 billion by 2022. It includes various services such as formation evaluation, geological, hostile slimhole tools, fluid sampling and reservoir testing.

By technology, E-line services uses high mechanical strength steel armored cables for transmitting well logging data continuously to the surface. Other technologies include slickline services which controls opening and closing access to zones along with substitution of gas lift valves. Furthermore, it is enabled to measure well depth, temperatures, perforation and down-hole pressure. The key benefits offered include cost saving, safe operation owing to reliable pressure control and less environmental degradation.

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Increasing demand for real-time logging along with rising need for energy solutions are encouraging oil & gas companies to invest into exploration and production activities. The Wireline logging services market is continuously evolving owing to changing customer needs, and technical developments. Furthermore, changes in price trends of crude oil will attract heavy investments in drilling activities which in turn increases the number of projects undertaken and will support the wireline logging service market growth over the forecast timeframe.

Developments in directional drilling as well as reservoir stimulations are likely to change the U.S. energy scenario over the time frame. As the operating water depth limit for production and drilling has exceeded to over 10,000 feet from a few hundred feet, specialized equipment such as Radio Frequency Identification (RFID) chips at the seabed and surface are required for executing drilling and production activities. This equipment aids in tracking data when operating downhole and exposure to pressure, temperature and corrosive environments. In addition it can also accurately determine the position for repair and maintenance.

Notable industry players in wireline logging services market are Schlumberger, Baker Hughes, Weatherford International, Halliburton, Superior Energy Services, etc. Wireline logging services market share is consolidated in nature, with significant technological developments and R&D viewed as key strategies

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Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

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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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