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Allied Market Research

Wireline Services Market: Global Opportunity Analysis and Industry Forecast, 2020–2027

A06895
Pages: NA
Sep 2020 | 126 Views
 
Author(s) : NA
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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.

Market scope and structure analysis

                                  Report Metric

                                 Details

  Market size available for years

  2019–2027

  Base year considered

  2019

  Forecast period

  2020–2027

  Forecast unit

  Value (USD)

  Segments covered

Wireline Type, Services, Hole Type, Application, and Region

  Regions covered

North America (U.S., Mexico, and Canada), Europe (Germany, UK, France, and the Rest of Europe), Asia-Pacific (China, Japan, India, and the Rest of Asia-Pacific), and LAMEA (Brazil, South Africa, Saudi Arabia, and the Rest of LAMEA)

  Companies covered

National Oilwell Varco, Inc., Halliburton Company, Expro International Group Holding Ltd., Archer Limited, Baker Hughes Incorporated, C&J Energy Services Ltd., Weatherford International PLC., Superior Energy Services, Inc., Schlumberger Limited, and Pioneer Energy Services Corp

 

Key drivers of global wireline services market

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.  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. 

Market scenario: opportunities and challenges

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.

COVID-19 scenario analysis

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. 

Key segments covered

                             Segment

                               Subsegment

  Wireline Type

  • Electric line
  • Slickline

  Service

  • Completion
  • Well Intervention
  • Logging

  Hole Type

  • Cased-Hole
  • Open Hole

  Application

  • Onshore
  • Offshore

 

Key benefits of the report

  • This study presents the analytical depiction of the global wireline services 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 wireline services market share.
  • The current market is quantitatively analyzed from 2019 to 2027 to highlight the global wireline services market growth scenario.
  • Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market. 
  • The report provides a detailed market analysis depending on competitive intensity and how the competition will take shape in coming years. 

Questions answered in the global wireline services market research report

  • which are the leading market players active in the global wireline services market?
  • What are the current trends that will influence the market in the next few years?
  • What are the driving factors, restraints, and opportunities of the market?
  • What are the projections for the future that would help in taking further strategic steps?
 
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