Wireline Logging Services Market to Witness Significant Growth from Rising E&P Activities by 2022
Oct 17, 2019
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
Selbyville, United States - October 17, 2019 /MarketersMedia/ —
Wireline logging services market growth will be driven by escalating demand for real-time data collection via electric tools and rising need for non-conventional energy resources 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 is anticipated to be worth USD 24 billion by 2022.”
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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 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.
The cased-hole logging market includes logging measurements with the help of metal piping, which is introduced at the time of completion of activity. The overall generation of revenue through this sector is 75% of total share in 2014. On the other hand, open-hole activities are performed before completion of the wellbore and this market is anticipated to rise with a CAGR of 7.7% from 2015 to 2022.
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.
High energy demand along with a rise in the amount of exploration activities plus high logging requirements is expected to drive Latin America wireline logging services market revenue in the near future.
Browse key industry insights spread across 90 pages with 33 market data tables & 35 figures & charts from the report, “Wireline Logging Services Market” in detail along with the table of contents @ https://www.gminsights.com/industry-analysis/wireline-logging-services-market-size
Market players will try to enhance their product portfolio and regional presence through technological innovations, joint ventures, and strategic collaborations. Key industry participants include Halliburton Company, Nabors Industries, Schlumberger, Baker Hughes, Superior Energy Services, Weatherford International, and OilSERV.
Some Points From Table Of Content: -
Chapter 4. Wireline Logging Services Hole Type Insights
4.1. Wireline logging services market share by hole type, 2014 & 2022
4.2. Open hole
4.2.1. Global market estimates and forecasts by region, 2012 - 2022
4.3. Cased hole
4.3.1. Global market estimates and forecasts by region, 2012 - 2022
Chapter 5. Wireline Logging Services Technology Insights
5.1. Wireline logging services industry share by technology, 2014 & 2022
5.2. Slickline
5.2.1. Global market estimates and forecasts by region, 2012 - 2022
5.3. E-Line
5.3.1. Global market estimates and forecasts by region, 2012 - 2022
Browse complete Table of Contents (ToC) of this research report @ https://www.gminsights.com/toc/detail/wireline-logging-services-market-size
About Global Market Insights:
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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Source: MarketersMedia
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