Well logging or borehole logging is a process of making a brief record and analyzing the dynamics of the geological formation. Well logging tools are devices that are used in the production of logs, which are brought on the surface and analyzed. The tools also help in their location of production of hydrocarbons on different zones and any faults or leakages or cross flows can be detected by observing the logs. Some of the primary well logging tools are full bore flow meters, basket flow meters, continuous flow meters, and others. These tools can also be combined with different sensors to provide real time data and produce logs at a continuous interval.
COVID-19 scenario analysis:
The outbreak of the COVID-19 pandemic has severely affected the well logging tools market.
- Due to the nationwide lockdowns imposed by the governments to contain the virus, major business activities and the normal outdoor lifestyle of common people were at a halt. This has caused a significant decrease in the demand for fuel and this has consequently affected the demand for well logging tools in the market.
- Moreover, the exploration activities of major companies were also affected due to the lack of workforce caused as a result of the lockdowns and travel restrictions. This has also caused serious effects on the well logging tools market growth.
- The economic slowdown caused by pandemic has caused cancelation or suspension of different investments on both small and large scale oil & gas exploration projects, which might restrict the growth of the well logging tools market.
Top impacting factors: Market Scenario Analysis, Trends, Drivers and Impact Analysis
The rapid technological advancements and innovations across the globe in exploration for crude oil and other natural gases has played a major role in the growing popularity of well logging tools in the market. These tools are used for various applications such as wells monitoring and also for water injection in the wells. The demand for well logging tools in the oil & gas industry is growing into rapid pace as major players are keen to obtain the geological information about the hydrocarbon zones. Moreover, the surge in popularity in exploration for shale gas and other unconventional gases also add to the growth of the well logging tools market. However, the fluctuating prices of crude oil limit the market growth.
In terms of market share, North America region holds the major share of the global well logging tools market. The Asia Pacific region is also predicted to witness a lucrative growth due to the rapid infrastructural developments in the emerging economies of the region.
Key benefits of the report:
- This study presents the analytical depiction of the global well logging tools industry along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the global well logging tools market share.
- The current market is quantitatively analyzed to highlight the global well logging tools market growth scenario.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
- The report provides a detailed global well logging tools market analysis based on competitive intensity and how the competition will take shape in coming years.
Well Logging Tools Market Report Highlights
| Aspects | Details |
 By Well Type |
|
 By Technology |
|
 By Application |
|
 By Region |
|
 Key Market Players | Hotwell, GE Oil and Gas, General Electric, Felix Technology Inc., Horizon Well Logging, DGRT Pty Ltd., MXROS, Keller America Inc., Mount Sopris Instruments, Schlumberger Limited. |
 | Robertson Geologging LTD, Gowell International LLC, TSL Technology Ltd., ANTARES Datensysteme GmbH, Others |
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