Wireline Logging Services Market Scope
Wireline logging is the process of measuring the properties of a formation to take correct decisions for drilling and production operations. Whereas, wireline logging services are the services that provide proper measurement using electrical and mechanical instrument and equipment. The demand for wireline logging services has been increasing due to rising shale gas production & exploration and increasing well integrity concerns due to Deepwater geo-hazards and technological advancement such as real-time logging. Additionally, rising discoveries of new oil & gas field in many geographical areas such as the United Kingdom have been supplementing the overall growth of the market. However, strict government regulations due to rising environmental concern across the globe and high initial investment due to the high cost of equipment and tools have been hampering the overall growth of the market. Moreover, increasing investment in an oil and gas sector and increasing oil production and growing E&P spending due to increasing demand from emerging economies particularly from the Asian countries can be considered an opportunity for the market.
The market study is being classified and major geographies with country level break-up. According to AMA, the Global Wireline Logging Services market is expected to see growth rate of 11.25% and may see market size of USD43.52 Billion by 2024.
The Manufacturers having a strong hold in the market are Baker Hughes, a GE company, Schlumberger Limited, Casedhole Solutions, Superior Energy Services. Research Analyst at AMA predicts that United States Manufacturers will contribute to the maximum growth of Global Wireline Logging Services market throughout the predicted period.
Baker Hughes, a GE company (United States), Schlumberger Limited (United States), Casedhole Solutions (United States), Superior Energy Services (United States), Expro International Group Holdings (United Kingdom), Halliburton Company (United States), Nabors Industries Ltd (Bermuda), Weatherford International plc (United States), Superior Energy Services, Inc (United States) and OilSERV FZCO (United Arab Emirates) are some of the key players profiled in the study. Additionally, the Manufacturers which are also part of the research are China Oilfield Services Ltd (China), RECON Petrotechnologies (Canada) and Pioneer Energy Services Corp (United States).
AdvanceMarketAnalytics has segmented the market of Global Wireline Logging Services market by Type, Application and Region.
On the basis of geography, the market of Wireline Logging Services has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Wireline Type, the sub-segment i.e. E-Line will boost the Wireline Logging Services market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Hole Type, the sub-segment i.e. Cased Hole will boost the Wireline Logging Services market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Service Type, the sub-segment i.e. Production and Injection Performance Evaluation will boost the Wireline Logging Services market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Market Leaders and their expansionary development strategies
On July 2017, Schlumberger has announced agreement for acquiring Majority Share in Eurasia Drilling Company. The agreement has been approved by Federal Antimonopoly Service of Russia. This acquisition will create a new opportunity for the company.
“Oil and gas exploration companies must apply to the Nuclear Regulatory Commission (NRC) for licenses to use nuclear sources for well exploration. Various types of sources can be used for a process called wire-line well logging: the use of radioactive material to determine the geological nature of a well by dropping a radioactive source down the borehole. Common sources for well-logging include a neutron source (which is used to help determine hydrogen-based compounds such as oil, gas, and water) and a gamma source (which is used to measure both density and porosity of the surrounding material). Backscattered gamma emissions or neutrons are then interpreted on charts and logs to determine the well’s ability to produce oil or gas.”
- Rising Discoveries of New Oil & Gas Field in Many Geographical Areas such as the United Kingdom
- Increasing Demand due to Continuously Rising shale gas production and exploration
- Increasing Well Integrity Concerns due to Deepwater Geo-Hazards and Technological Advancement such as Real Time Logging
- Increasing Investment in an Oil and Gas Sector and Increasing Oil Production
- Growing E&P Spending due to Increasing Demand from Emerging Economies Particularly From Asian Countries
- Rising Environmental Concern across the Globe
- High Initial Investment due to High Cost of Equipment and Tools
Key Target AudienceWireline Logging Service Providers, Oil and Gas Production Companies, Private Research Organizations, Government Agencies and Others
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