North America wireline logging services market size 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.
Wireline Logging Services Market size will be driven by escalating demand for real-time data collection via electric tools and rising need for non-conventional energy resources in the coming years. Introduction of new technologies has resulted in high capital investments in exploration & production activities, thereby encouraging the industry trends. 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.
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Wireline Logging Services Market growth will be impelled by 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 service 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.
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 wireline logging services market 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.
By technology, wireline logging services market in 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.
Company profiled in this report based on Business overview, Financial data, Product landscape, Strategic outlook & SWOT analysis:
1. Pioneer Energy Services
3. Nabors Industries
5. Baker Hughes
6. Weatherford International
7. Superior Energy Services
Advancement in technologies is promoting accessibility of important and deep reservoir which is likely to give a significant boost to this sector. This industry has taken a significant growth leap, driven by technology, rising standards and an increase in needs of customers. Global Wireline Logging Services Market size touched USD 14.18 billion in 2014 as per the recent report published by Global Market Insights, Inc.
Market players will try to enhance their product portfolio and regional presence through technological innovations, joint ventures, and strategic collaborations. Key industry participants in wireline logging services market size include Halliburton Company, Nabors Industries, Schlumberger, Baker Hughes, Superior Energy Services, Weatherford International, and OilSERV.
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