Wireline Logging Services Market: Current Analysis and Forecast (2022-2028)

The Global Wireline Logging Services Market is expected to grow at a significant rate of around 5% during the forecast period. Wireline services are multiline cables or a high tensile single strandline, and therefore routine maintenance is to be carried out in wellbore with wireline tools. It performs various functions such as pipe recovery, intervention, reservoir evaluation, and others. Factors such as increasing investment in oil and gas companies in acquiring open hole log data, as logging activities can represent between 5% to 15% of total well costs. Therefore, it is important to ensure that cost of acquisition can be justified by the value of the information generated and that information is thereafter managed to perform various functions such as pipe recovery, intervention, reservoir evaluation, and others.

Furthermore, rising horizontal wells, high demand for real-time logging, and new technologies in shale gas exploration are some of the factors driving the global wireline logging services market. In addition, increased petrochemical consumption across different industries considering paints and coatings, energy, transportation, textiles, and plastic is expected to increase oil exploration activities, which drives the wireline logging services market during the forecast period. Technological advancements and strong financial backups have increased ultra-deep and deep oil exploration, which leads to driving the wireline logging services market.

Some of the major players operating in the market include: Baker Hughes Company, Casedhole Solutions Inc., Schlumberger Ltd., Expro International Group Holding Ltd., Halliburton Company, Nabors Industries Ltd., OiLSERV, Pioneer Energy Services Corp., Superior Energy Services Inc., and Weatherford International Inc.

Insights Presented in the Report

"Amongst hole type, open hole category to witness robust CAGR during the forecast period"

Based on hole type, the wireline logging services market is bifurcated into the cased hole and open hole. Open hole category to witness higher CAGR during the forecast period. As open hole logging operations are performed before the wellbore has been cased. Also, the open logging technique is widely used at the global level as it renders no obstruction during the measurements. Therefore, soaring exploration for new oil and gas fields is still on in many countries for more products which is expected to create accelerate its market share in the wireline logging service market.

"Amongst line type, electric line segment to hold a significant share in the market in 2020"

Based on line types, the wireline logging services market is classified into the electric line and slick line. Among these, the electric line segment to hold a significant share in the market in 2020. As it improves efficiency and avoids capital wastage by having the information on oil field capacity. Also, the electric line is an electrical cable used to lower tools into the wellbore and transmit information about the conditions of the wellbore

"Middle East & Africa to hold a significant share in the market"

The Middle East & Africa is anticipated to grow at a substantial CAGR during the forecast period. This is mainly due to the rising crude oil prices that are expected to bring more revenue and investments for the E&P companies, and subsequently, it will lead to more contracts for oilfield services players. Also, the region has recently witnessed an upsurge in many upstream projects, both offshore and onshore which is expected to accentuate its market size.

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• Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry.

• The study comprehensively covers the market across different segments.

• Deep dive regional level analysis of the industry.

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