Global Wireline Services market is growing at a CAGR of 10.1% during 2015
Wireline Services Market Outlook – Global Trends, Forecast, and Opportunity Assessment (2014-2022)
The Global Wireline Services market is valued at $15.76 billion in 2014 and is growing at a CAGR of 10.1% to reach $34.06 billion by 2022. There is constant growth in the oil & gas exploration and production activities for finding new unconventional resources, which massively supports the wireline services market growth. These wireline services are essential for exploration, completion, drilling, intervention, and stimulation in oil and gas industries. The key factors driving wireline Services market include growing exploration and production activities, global demand for oil & gas, technological advancements, increased oil production, and exploration activities for shale gas. However, increasing focus on renewable energy, stringent environmental rules and regulations, and decrease in crude oil prices are limiting the market growth.
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The well completion segment held the largest share with more than 60% in total wireline services market. Electric line wireline type is the largest technology segment due to its usage in well logging services. The accomplished usage of wireline services together with the rising oil and gas production is the major driver for the market growth. North America has the largest market for wireline services and is expected to continue its growth during the forecast period due to rapidly increasing oil and gas production levels and logging services.
The key players of the market include, Schlumberger Limited, GE Oil & Gas, Baker Hughes Incorporated, FMC Technologies, Pioneer Energy Services Corporation, Basic Energy Services, Archer Limited, Halliburton Company and Weatherford International.
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Service Types Covered:
• Well Logging
• Well Completion
• Well Intervention
• Electric Line
• Slick Line
Hole Types of Wireline Services Covered:
• Open Hole
• Cased Hole
• North America
• Asia Pacific
o New Zealand
o Rest of Asia
• Rest of the World
o Latin America
o Middle East