Wireline Services Market - Global Industry Insights to 2025

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 America held a dominant position in the market in 2017, and is projected to retain its
dominance throughout the forecast period. The market in North America 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
countries contributing to the growth of North America wireline services market, owing to
increasing number of well completions in North America. According to the 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, which is propelling demand for wireline
services. Furthermore, presence of leading market players in North America is another factor
fueling 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, by Well Type, by Application (Well Intervention, Logging, and Well Completion), and by Geography

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