Wireline Services Market

Wireline Services Market - Global Industry Insights to
2025
Wireline services, also known as electrical cabling technology, is used in the oil and
gas industry for reservoir evaluation, pipe recovery activities, and intervention
processes. These services involve the usage of multi-strand cables to carry equipment
into wells for purposes such as data acquisition and enhancing performance of wells
by providing real-time, quantified, and accurate data. Increasing on-going drilling and
completion activities is one of the major drivers for growth of the wireline services
market. For instance, in 2018, Exxon Mobil Corporation announced its seventh oil
discovery offshore at Guyana, drilling at the Pacora-1 exploration well. Moreover, in
2018, Africa Energy Corp. announced its intention to drill an exploration well in 2019,
on Block 2B offshore the west coast of South Africa. Increasing drilling and
completion activities is attributed to continuous increase in demand for energy around
the globe. For instance, according to world energy organization, global demand for
energy is projected to increase with a CAGR of 6.6% during the period of 2014–2020.
This in turn, is increasing the demand for deep well exploration to extract more oil
from each well. This in turn, is expected to increase the demand for wireline services,
and is expected to drive growth of the market over the forecast period.
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Cased holes segment is expected to be the fastest growing segment over the
forecast period
Among well type, the cased hole segment held a dominant position in the market in
2016 and is projected to retain its dominance throughout the forecast period. The
segment is estimated to generate revenue of US$ 15.7 billion in 2017, and is projected
to reach US$ 25.8 billion by 2025. Cased hole services comprise executing logging
measurements with the help of well chasing or metal piping inserted at the time of
well completion activities. Cased hole wireline services are crucial for casing, cement
evaluation, and saturation logging, which enables operators to closely examine the
well capacity and optimize production. Also, it allows operators to take immediate
corrective actions on any issues that arise. Cased hole wireline services thus, offer
highly accurate well assessment along with maximum asset recovery, due to which the
growth of this segment is rapidly increasing.
The global wireline services market generated revenue of US$ 19.9 billion in 2017,
from US$ 19.7 billion in 2016. The market is expected to generate revenue of US$
33.9 billion by 2025, exhibiting a CAGR of 6.8% over the forecast period (2017 –
2025).
North America held the dominant position in wireline services market in 2017.
North region held a dominant position in the market in 2017 and is projected to retain
its dominance throughout the forecast period. The market in the region is estimated to
generate revenue of US$ 9.3 billion in 2017 and is projected to reach US$ 15.8 billion
by 2025, exhibiting a CAGR of 6.9% over the forecast period. The U.S. and Canada
are major growth engines in the North America wireline services market. Increasing
number of well completions is driving growth of the wireline services market in North
America. As per Baker Hughe’s worldwide rig count, from the total of 1918 oil rigs
worldwide, North America accounts for around 985 rigs. The region has large number
of advanced oil rigs with various technologies integrated for effective monitoring and
maintenance, the demand for wireline services is thus increasing. Also, the market in
the region is characterized by large of players, which is another factor driving growth
of the wireline services market.
Major players operating in the global wireline services market include GE Oil & Gas
Corporation, Superior Energy Services Inc., FMC Technologies Inc., Pioneer Energy
Services Corporation, Schlumberger Limited, C&J Energy Services Inc.,
Allied-Horizontal Wireline Services LLC., Weatherford International, and Halliburton
Company.
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Wireline Services Market report categorizes the global market by Service Type (Slick Line and E- Line), by Well Type (Open Hole and Cased Hole), by Application (Well Intervention, Logging, and Well Completion), and by Geography.

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