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Wireline Logging Services Market Size, Share 2022 | Industry Report

Wireline Logging Service Market Analysis By Technology, By Hole Type And Segment Forecasts From 2015 To 2022

Report ID: MN17619756  |  Published: May 2020  |  No of Pages: 91
Format: Electronic (PDF)  |  Industry: Technology  |  Publisher: Grand View Research

Industry Insights

The global wireline logging service market size was valued USD 16.0 billion in 2014. This growth can be attributed to rising usage of these services for collection of real-time data by electric tools. In addition, their usage for increasing exploration activities and production growth is further anticipated to drive the market growth in the upcoming years.

Surging prices of crude oil are anticipated to regress the investments. This is anticipated to promote the number of upcoming progress thereby creating an energy demand during the forecasted period, 2015 to 2022. In addition, rising pressure for well extraction is expected to lower the exploration level and create an avenue for such services.

Rapid technological advances being made to produce large quantities of natural gas are also anticipated to surge up the demand for these logging services across the globe. Thus, several high quality and sophisticated products are being developed in R&Ds that are anticipated to meet and control the process requirements. Ease of usage is the major factor being considered while developing such products which is expected to drive the growth of wireline logging services market during the forecasted period.

Production rate in the oilfield sectors has increased owing to the usage of such services thereby reducing the profit margins and creating an avenue of opportunities across the globe. Such factors also have led to surging need for optimization of E&P activities like the evaluation of reservoirs. However, stringent rules and regulations being imposed by the governing bodies coupled with rising environmental issues due to the usage of these services are projected to hinder the market growth.

Technology Insights

In 2014, the technology segment of E-Line held the largest share of around 57% across the global market and is anticipated to register a CAGR of 9.0% during the forecasted period. It has heavier and strong wirelines and uses its enclosed wire core for transmission of electric signals from the downhole tools to the surface equipment. Such services are majorly used for well logging and tube perforating operations due to the requirement of continuous evaluation along the electric tools.

The technology of Slickline is generally used for measuring the well depth, downhole pressures, temperatures and well perforation. Moreover, they are being used for placing and recovering the well equipment on the surface. This activity helps in maintenance of the production levels by the intervention and logging processes.

Hole Type Insights

The hole type segment for wireline logging services can be further classified into two types viz. open hole and cased hole. The segment of cased hole held the largest share of around 80% across the global market in 2014. This can be attributed to its working on well evaluation after completing the procedure inside the well.

Open hole is used for performing such operations prior to ceasing and cementing of the wellbore. They are also involved in operations like electric tool deployment through electric line in a newly drilled well. On the other hand, cased hole is being used for retrieving of measurements during the final operations with the help of metal piping.

Regional Insights

North America is expected to register a significant growth at a CAGR of more than 9.0% during the forecasted period, 2015 to 2022. This growth can be attributed to rising production and exploration activities across U.S. Moreover, several government initiatives are being undertaken to promote the usage of these services owing to their fruitfulness in the recovery of hydrocarbons.

By 2020, around 50% of the natural gas produced in U.S. is expected to be generated from the horizontal well which includes tight sands and shale sources. On the other hand, Asia Pacific is also anticipated to register moderate growth due to rising exploration of oil and gas in the upcoming years.

Competitive Market Share Insights

Key players in the wireline logging service market are Schlumberger, Halliburton, Baker Hughes, Nabors Industries, OilServe (UAE), and Weatherford International. These players are investing hugely in R&Ds for product development and innovation. Moreover, emerging concept of resource recovery is being implemented by them which is further anticipated to drive the market growth in the upcoming years.

They are engaged in the development of distribution channels to gain a competitive advantage over other key players. In addition, they are engaged in setting up mergers, acquisitions, and implementing several marketing strategies. For instance, Baker Hughes had partnered with TMK Russia in 2014 for developing wellness completion solutions.

Report Scope

Attribute

Details

Base year for estimation

2014

Actual estimates/Historical data

2012 - 2013

Forecast period

2015 - 2022

Market representation

Revenue in USD Million and CAGR from 2015 to 2022

Regional scope

North America, Europe, Asia Pacific, Latin America, and Middle East & Africa

Country Scope

U.S., Canada, Germany, UK, China, India

Report coverage

Revenue forecast, company share, competitive landscape, and growth factors and trends

15% free customization scope (equivalent to 5 analyst working days)

If you need specific information, which is not currently within the scope of the report, we will provide it to you as a part of customization


Segments Covered in the Report

This report forecasts revenue growth at the global, regional, and country levels and provides an analysis of the latest industry trends from 2012 to 2022 in each of the sub segments. For the purpose of this study, Million Insights has segmented the wireline logging services market report based on technology, hole types, and region:

• Technology Outlook (Revenue, USD Million; 2012 - 2022)
    • Slickline
    • E-Line

• Hole Outlook (Revenue, USD Million; 2012 - 2022)
    • Open hole
    • Cased hole

• Regional Outlook (Revenue, USD Million; 2012 - 2022)
    • North America
        • U.S.
        • Canada
    • Europe
        • Germany
        • UK
    • Asia Pacific
        • China
        • India
    • Latin America
    • MEA

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