Wireline logging services are an essential part of the oil and gas industry, used to collect critical information about subsurface formations. The market for these services is expected to grow in the coming years due to increasing demand for energy and a growing focus on exploration and production activities. This meta description highlights the importance of wireline logging services and the potential for growth in the market. According to a market research study published by Zion Market Research, the demand analysis of Global Wireline Logging Services Market size & share revenue was valued at around USD 29.34 billion in 2022 and is estimated to grow about USD 43.36 billion by 2030, at a CAGR of approximately 7.2% between 2023 and 2030.
Phoenix, AZ, March 16, 2023 (GLOBE NEWSWIRE) — Zion Market Research has published a new research report titled “Wireline Logging Services Market By Technology (E-Line And Slickline), By Hole Type (Open Hole And Cased Hole), And By Region – Global And Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, And Forecasts 2023 – 2030” in its research database.
“According to the latest research study, the demand of global Wireline Logging Services Market size & share in terms of revenue was valued at USD 29.34 billion in 2022 and it is expected to surpass around USD 43.36 billion mark by 2030, growing at a compound annual growth rate (CAGR) of approximately 7.2% during the forecast period 2023 to 2030.”
What are Wireline Logging Services? How big is the Wireline Logging Services Industry?
Wireline Logging Services Market Coverage & Overview:
The global wireline logging services industry size was nearly USD 29.34 Billion in 2022 and is predicted to increase to nearly USD 43.36 Billion by 2030 along with recording a CAGR of approximately 7.2% from 2023 to 2030.
Wireless logging services make use of an electric cable for lowering tools into a borehole for performing consistent recording & monitoring of the oil reservoir features. The technique is extensively utilized for mapping oil reservoirs and their related hydrocarbons as it offers key data which can assist in effective & enhanced drilling activities. Furthermore, the equipment can be lowered into the oil wells through either a cased hole or an open hole.
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Global Wireline Logging Services Market: Growth Factors
The surge in oil and gas production & exploration activities witnessed across the globe will drive the global wireline logging services market trends. Furthermore, technological breakthroughs and a rise in focus on producing natural gas will prompt the global market demand. In addition to this, humungous demand for research activities pertaining to the production of high-end items for fulfilling process requirements will extend the scope of the expansion of the wireline logging services market across the globe.
However, shifting of power transition to renewable sources of energy due to growing awareness about environmental protection can hinder the expansion of the global wireline logging services industry in the ensuing years. Nonetheless, wireline logging services assist firms in the oil & gas business to compete against business rivals, thereby providing new growth opportunities for the global industry.
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|Market Size in 2022||USD 29.34 billion|
|Projected Market Size in 2030||USD 43.36 billion|
|CAGR Growth Rate||7.2% CAGR|
|Key Market Players||Calfrac Well Services, Groundwater Resources International, Ray International LLC, Schlumberger, Sos Analytical Inc, Calfrac Well Services, Pioneer Energy Services, Superior Energy Services, Pride International, Casedhole Solutions, Geologix Limited, Halliburton, Nabors Industries, Baker Hughes Co., Geosearches Inc, OilServe, EnviroCore, Inc., Expro International Group Holdings, SGS India, Downhole Well Services, LLC, China Oilfield Services Limited, Graves Environmental & Geotechnical Services, Inc., Eichelbergers Inc., and Weatherford International Plc.|
|Key Segment||By Technology, By Hole Type, And By Region|
|Major Regions Covered||North America, Europe, Asia Pacific, Latin America, and the Middle East &, Africa|
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Wireline Logging Services Market: Segmentation Analysis
The global wireline logging services market is divided into technology, hole type, and region.
Based on technology, the global wireline logging services market is divided into e-line and slackline segments. Furthermore, the e-line segment is slated to register the highest CAGR of more than 9.1% in the upcoming years owing to the massive use of e-line technology in well-logging operations with the latter requiring constant evaluation with the help of electric systems. Moreover, e-line technology is capable of sending data constantly on the surface, thereby boosting the segmental surge.
In terms of hole type, the global wireline logging services industry is sectored into the open hole and cased hole segments. Moreover, the cased hole segment, which accounted for nearly 81% of the global industry share in 2022, is anticipated to register the highest gains in the ensuing years. In addition, the segmental surge can be attributed to ability of cased holes in assessing wells through the deployment of evaluation tools post-process completion in the oil wells.
The global Wireline Logging Services market is segmented as follows:
By Hole Type
- Cased Hole
- Open Hole
Browse the full “Wireline Logging Services Market By Technology (E-Line And Slickline), By Hole Type (Open Hole And Cased Hole), And By Region – Global And Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, And Forecasts 2023 – 2030”– Report at https://www.zionmarketresearch.com/report/wireline-logging-services-market
Some of the main competitors dominating the global Wireline Logging Services market include –
- Calfrac Well Services
- Groundwater Resources International
- Ray International LLC
- Sos Analytical Inc
- Calfrac Well Services
- Pioneer Energy Services
- Superior Energy Services
- Pride International
- Casedhole Solutions
- Geologix Limited
- Nabors Industries
- Baker Hughes Co.
- Geosearches Inc
- EnviroCore Inc.
- Expro International Group Holdings
- SGS India
- Downhole Well Services LLC
- China Oilfield Services Limited
- Graves Environmental & Geotechnical Services Inc.
- Eichelbergers Inc.
- Weatherford International Plc.
Key Insights from Primary Research:
- According to the analysis shared by our research forecaster, the Wireline Logging Services market is likely to expand at a CAGR of around 7.2% during the forecast period (2023-2030).
- In terms of revenue, the Wireline Logging Services market size was valued at around US$ 29.34 billion in 2022 and is projected to reach US$ 43.36 billion by 2030.
- The global market is anticipated to record massive growth over the forecast period due to the rising need for real-time data collection tools.
- Based on technology, the e-line segment contributed to a major share of the global market in 2022.
- In terms of hole type, the open segment is predicted to account for a major share of the global market during the predicted timespan.
- Region-wise, the North American region is projected to be the key regional revenue driver of the global market during the projected timeframe.
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Key questions answered in this report:
- What is the market size and growth rate forecast for Wireline Logging Services industry?
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- Market Size & Forecast by Revenue | 2023−2030
- Market Dynamics – Leading Trends, Growth Drivers, Restraints, and Investment Opportunities
- Market Segmentation – A detailed analysis By Technology, By Hole Type, And By Region
- Competitive Landscape – Top Key Vendors and Other Prominent Vendors
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The wireless logging services market in North America will witness a humungous expansion in the next eight years. Furthermore, the region is slated to register a CAGR of more than 10% over the forecast timeline. The regional market surge over 2023-2030 can be attributed to a rise in oil production & exploration activities in Canada and the U.S. In addition to this, the presence of key industry players in the region will contribute substantially towards the market proceeds in North America. In addition, favorable government laws and the recovery of hydrocarbons will prompt the expansion of the wireline logging services market in North America.
Furthermore, the wireless logging services industry in the Asia-Pacific region is predicted to record moderate growth with a rise in oil & gas exploration activities in the sub-continent. Burgeoning demand for wireline logging services in countries of the Middle east region will help the wireline logging services market expand by leaps & bounds in the Middle East and Africa.
- North America
- Rest of North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- The Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of the Middle East & Africa
- Latin America
- Rest of Latin America
Wireline Logging Services Market: Opportunities
Massive funding of offshore petroleum production activities to open new growth vistas for the market across the globe
Escalating exploration & production activities in the oil & gas sector and a rise in the allocation of funds to offshore petroleum production activities will generate new growth avenues for the global wireline logging services market.
- In the second half of 2021, Baker Hughes Company, a key oilfield service firm based in the U.S., got two contracts from Abu Dhabi National Oil Company for oilfield service & equipment for its two upstream oil fields in UAE. The move is predicted to open new avenues of growth for the wireline logging services industry in the Middle East region.
- In the last quarter of 2020, Equinor, a petroleum refining firm, offered an oil field service deal to three key players in the oilfield service business, namely, Halliburton, Baker Hughes, and Schlumberger. For the record, the USD 455.1 million deal was provided to perform the oil drilling & well services at a field based in an offshore location in Brazil. Moreover, the drilling activities are likely to commence in 2024 with a production capacity of 220,000 barrels a day. The move will contribute notably towards the expansion of the wireline logging services business in the Latin American region.
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FREQUENTLY ASKED QUESTIONS
- What are wireline logging services?
- Which key factors will influence global wireline logging services market growth over 2023-2030?
- What will be the value of the global wireline logging services market during 2023-2030?
- What will be the CAGR value of the global wireline logging services market during 2023-2030?
- Which region will record the highest growth in the wireline logging services industry globally?
- Which are the major players leveraging the global wireline logging services market growth?
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