The global wireline logging services market size is anticipated to reach USD 34.39 billion in the year 2022. This can be attributed to increasing usage of these services for collection of real-time data by electric tools to optimize operational activities and gain maximum output from oil fields and wells.
The E-Line technology segment held the largest share of around 57% in the wireline logging service market owing to its usage in good logging and tube perforating operations. The segment of Slickline is being used for measuring good depth, down hole pressures, and temperatures.
The cased hole segment dominated the global market with a share of approx 80% in 2014 due to its surging usage for well evaluation. In addition, its usage for retrieving of measurements during the final operations is expected to drive the market growth. On the other hand, the open hole is generally used for performing operations prior to ceasing and cementing of the wellbore.
North America is anticipated to register a CAGR of 9.0% from 2015 to 2022 owing to rising production and exploration activities across U.S. Asia Pacific is also expected to witness growth in the upcoming years owing to boosting demand for exploration and extraction activities across the globe.
The market for wireline logging service includes key players such as Schlumberger, Halliburton, Baker Hughes, Nabors Industries, OilServe (UAE) and Pioneer Energy Services. They are continuously engaged in product development, innovation, and in implementing various marketing strategies to gain competitive advantage over other players and to penetrate deeper in the emerging markets. For example, Schlumberger made an investment of USD 1.2 Billion in 2014 for carrying out R&D activities, while Halliburton had made an investment of USD 0.6 Billion.
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Further key findings from the report suggest:
• The cased hole type segment held a share of around 80% during the year 2014 and are anticipated to witness a CAGR of 9.0% from 2015 to 2022.
• The E-Line segment held the largest share of around 57% across the global wireline logging services market due to their usage for well logging and tube perforating operations.
• North America is anticipated to register a CAGR of 9.0% across the global market during the forecasted years.
• The key players in this market are Schlumberger, Halliburton, Baker Hughes, Nabors Industries. Their profit margin shares rely on the production process efficiency. Hence, they have started investing in R&Ds to optimize the operations and gain maximum efficiency for gaining competitive advantage over other players.
Million Insights has segmented the global wireline logging service market on the basis of technology, hole type and region:
Wireline Logging Services Technology Outlook (Revenue, USD Million, 2012 - 2022)
Wireline Logging Services Hole Type Outlook (Revenue, USD Million, 2012 - 2022)
• Open Hole
• Cased Hole
Wireline Logging Services Regional Outlook (Revenue, USD Million, 2012 - 2022)
• North America
• Asia Pacific
• Latin America