Market Overview
The growth prediction for the wireline logging services market states that the market size would reach around USD 9.06 billion in the present years. The growth rate is recorded at 3.52% CAGR within the current forecast years.
Wireline logging is the process utilized with the use of electrical instruments for continuously measuring the necessary properties to make decisions on production or drilling operations. It is the optimal measurement process used for executing the downhole formation, with the use of special equipment or tools that gets lowered within the borehole. There is a high demand for horizontal wells and real-time logging. Newer technologies are needed within the shale gas exploration projects! Hence, these are some factors driving the growth potential of the global wireline logging services market. The exploitation of the shale gas resources in the US has also increased the necessity of specific rigs to dig deep and long horizontal wells.
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As the rise in recoverable resources and increased pursuit of production & exploration is imposed, there is a peak rise in adaptation of wireline logging services. It is mostly being carried out in some of the top regions, including the Middle East & Africa and Asia-Pacific. With these services, the industries can expect injection & production performance evaluation, water-shutoff determination, stimulation performance evaluation, acoustic leak detection and others, Wireline logging services are also essential in pipe recovery, perforation, borehole seal and interval isolation.
The report draws the audience’s attention to the successive growth potential of the wireline logging services market. There are several resources and equipment used by the key players to set this market on a thriving stage. Keeping that in mind, the report also highlights the key market segmentation factors to elaborate on various industry elements that come together to form a market. The key players across all regions are giving in their collective effort to help the wireline logging services market stand out in the crowd. Hence, the growth scope is nowhere deteriorating for the present forecast years,
Market Segmentation
The market segmentation for the global wireline logging services market is defined in terms of hole type and wireline type.
The hole type segmentation of the wireline logging services market is categorized into two types of holes, which include the cased hole and open hole. Depending upon the preferences and necessities at the site, the professionals would suggest the use of anyone.
The wireline type segmentation of the wireline logging services market is again categorized into two types of wireline: Slickline and E-line. The professionals will be choosing the type of wireline necessary for the site or a specific hole to proceed with the work execution.
Regional Classification
The global wireline logging services market is widely spread across various regions of the world. The top regions include North America, Asia-Pacific and Europe. There are many other regions across the world that are also contributing to the collective revenue of this market. Asia-Pacific is expected to generate a higher market size in the present forecast years, as they have reported high demands and substantial supply to maintain a growth hike.
Competitive Outlook
Superior Energy Services, Schlumberger, Expro International Group Holdings Ltd, Oilserv, Pioneer Energy Services, Casedhole Solutions, Nabors industries ltd., Weatherford International Inc., Halliburton, and Baker Hughes are key players in the global wireline logging services market.
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Industry News
Casedhole Solutions is a prominent key player in the wireline logging services market and is primarily focused on the oil & gas industry. As of the current industry insights, Intervale Capital, an energy-focused equity firm, exited the Casedhole solutions. They will receive no more funding from this private firm
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