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| Report Code: A06895 | Nov 2023 | Pages: NA | ||
| Tables: NA | Charts: NA |
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Pandemic disrupted the entire world and affected many industries.
Get detailed COVID-19 impact analysis on the Wireline Services Market
Request Now !Wireline refers to wiring infrastructure that is used for the assessment of reservoirs, well intervention, monitoring, and completion for a range of measurement instruments and equipment within oil & gas exploration fields. The real-time data obtained with the help of measuring tools and equipment in drilled wells encourages field engineers to monitor and manage the operating conditions. Wireline services are essential in the oilfield operations and are cost-effective techniques for maintenance of wellbores. Cable networks used by oilfield operators to minimize the amount of machinery or measurement instruments in the well are all involved in the wireline service. Advantages of deployment of wireline services include location casting rollers, sample recovery, information gathering for pore size, pressure gathering for production fluid formation, and evaluation of rock properties. The major activities performed by wireline services include evaluation of reservoirs, well completion, pipe recovery, and intervention.
Rise in exploration, production, and completion activities to meet the growing demand of energy globally is expected to fuel the growth of the global wireline services market. Â Owing to increase in manufacturing activities of oil & gas industry, wireline services possess high potential in the oil & gas sector. Moreover, owing to surge in cabling needs in the oil & gas drilling firms, wireline services continue to increase in the oilfield, thereby boosting the growth of the market. Furthermore, wireline services enable oil & gas firms to conduct their operations in an organized and cost-effective manner, which notably contribute toward the growth of the global market.Â
The growth of the global wireline services market is driven by technical advancements in the oil & gas production processes. Owing to factors such as rise in global exploration for oil & gas, the global wireline services market is expected to expand steadily. In addition, surge in exploration activities of deposits of unconventional resources and increase in need to sustain and improve the production rates from these hydrocarbon resources accelerate the growth of the global wireline service industry. Furthermore, rise in prospects from the developing nations is anticipated to result in increase in drilling and completion operations to cater to the growing demands for energy. Other factors that are anticipated to boost the growth in the market include decline in crude oil prices, increase in exploration activities for new oil reserves, and rise in emphasis on renewable energy. However, fluctuation in prices of oil & gas coupled with lockdown among key oil producing countries act as a key restraining factor that might hinder the market growth.
Owing to the outbreak of the COVID-19 pandemic, the global wireline services market is expected to witness a slowdown during the next couple of years. Governments of various countries have implemented lockdown, which has led to shutdown of factories in scores of cities and provinces across the world, thus leading to predictions of a sharp slowdown from commercial to industrial sector. In addition, recent decline in oil exploration activities is one of the key factors that is likely to negatively impact the growth of wireline services market. Moreover, companies are dealing with missing sales and disrupted supply chains as production activities are shutdown.Â
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Wireline Services Market: Global Opportunity Analysis and Industry Forecast, 2020–2027 Report Highlights
| Aspects | Details |
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| By Wireline Type |
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| By Service |
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| By Hole Type |
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| By Application |
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| By Region |
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