The
global wireline logging service market was valued at over
USD 16 billion in 2014, according to a new study by Grand View Research, Inc.
This can be attributed to the potential increase in recoverable resources and
increased production & exploration. Increase in crude oil prices is
estimated to result in rise in investments for exploration & production
activities leading to significant new projects across the globe, which is
expected to positively impact industry growth.
Technological
advancements have broadened service offerings by oil & gas field service
providers and improved industry efficiency. Several new technologies such as
drill ships and Floating, Production, Storage, and Offloading (FPSO) vessels
have enabled wells to be drilled in increasingly deep water. Additionally, the
new reservoir conditions including high temperature, ultra-deep water, and high
pressure require advanced logging tools and services. The aforementioned
factors are projected to drive the industry demand over the next seven years.
Rise
in the number of horizontal wells, demand for real-time logging, and well
integrity concerns are estimated to offer significant opportunities for
industry growth. However, increased seismic activities and stringent government
regulations can hamper wireline logging service market.
Browse full
research report on Wireline Logging Service Market: www.grandviewresearch.com/industry-analysis/wireline-logging-service-market
Further
Key Findings From the Study Suggest:
- E-line logging segment accounted for over 55%
of the revenue in 2014 and is expected to witness substantial rise in
demand over the forecast period. It finds more usage as compared to the
slickline products owing to its wide application across several E&P
activities. Some of the factors responsible for electric line’s increased
adoption include its ability to transmit electric data by offering a
pathway for communication between the downhole equipment and the surface.
- Cased-hole logging services segment is
estimated to account for over 75% of the overall industry by 2022, growing
at a CAGR of over 9% from 2015 to 2022. The industry has been developing
sophisticated measurements in through-casing applications. Tools such as
gamma ray, spectral gamma ray, pulse neutron, and compensated neutron are
used for determining water saturation.
- North America dominated the market in 2014 and
is expected to grow at a CAGR of over 9% from 2015 to 2022. Potential
increase in recoverable resources and completion activities within North
America are expected to drive the demand across this region over the forecast
period.
- Wireline logging service market share is
occupied by companies such as Halliburton, Schlumberger, Weatherford
International, Baker Hughes, Nabors Industries, and Pioneer Energy
Services. Profit margins of the companies are influenced on the efficiency
of their production processes. Hence, major players such as Halliburton
and Schlumberger are investing heavily in R&D for improving existing
technologies, maintaining their edge. For instance, in 2014, Schlumberger
invested USD 1.2 billion in R&D activities, whereas Halliburton
invested USD 0.6 billion, Baker Hughes 0.6 billion, and Weatherford
International invested USD 0.3 billion, respectively.
Browse more
reports of this category by Grand View Research: www.grandviewresearch.com/industry/oil-and-gas-drilling-and-extraction-equipments
Grand View Research has segmented the wireline logging service market on
the basis of technology, hole type, and region:
Wireline
Logging Service Technology Outlook (Revenue, USD Million, 2012 - 2022)
- Slickline
- E-Line
Wireline
Logging Service Hole Type Outlook (Revenue, USD Million, 2012 - 2022)
- Open
Hole
- Cased
Hole
Wireline
Logging Service Regional Outlook (Revenue, USD Million, 2012 - 2022)
- North
America
- Europe
- Asia
Pacific
- Latin
America
- MEA
Access
Press Release By Grand View Research: www.grandviewresearch.com/press-release/global-wireline-logging-service-market
About Grand
View Research:
Grand
View Research, Inc. is a U.S. based market research and consulting company,
registered in the State of California and headquartered in San Francisco.
The company provides syndicated research reports, customized research
reports, and consulting services. To help clients make informed business
decisions, we offer market intelligence studies ensuring relevant and
fact-based research across a range of industries, from technology to chemicals,
materials and healthcare.
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