Global Wireline Services Market to Surpass US$ 46.17 Billion by 2025, Fuelled by Rapidly Increasing Oil and Gas Exploration Worldwide

Published On : Oct 28, 2017

Global wireline services market was valued at US$ 19.19 billion in 2016, according to Global Wireline Services Market Report, by Service Type (Slick Line & E- Line), by Well Type (Open Hole and Cased Hole), by Application (Well Intervention, Logging, and Well Completion) published by Coherent Market Insights. The wireline services market is expected to register a CAGR of 11.05% over the forecast period (2017-2025) reaching US$ 46.17 billion by 2025.

The major factors propelling the growth of the global market include increasing oil production and aging reservoirs. Furthermore, its wide ranging of application in the oil and gas exploration activities such as drilling, exploration, completion, intervention, stimulation, and its ability to reduce the time and labor requirement in the oil and gas industry are factors augmenting growth of the wireline services market worldwide.

Factors hindering the growth of this market include low cost price of crude oil and the increasing inclination of the global populace towards renewable energy.

To know the latest trends and insights prevalent in this market, click the link below:

https://www.coherentmarketinsights.com/market-insight/wireline-services-market-977

Browse 300 market data tables* and 50 figures* on "Wireline Services Market” - Global forecast to 2025.

Key Trends and Analysis of Wireline Services Market:

  • Among service type, E-line segment held a dominant position in the global wireline services market in 2016 and is expected to retain its dominance during the forecast period. This is mainly owing to its extensive application in the well logging services. E-line services are used to transmit electrical signals between the surface equipment and the down-hole tools with the numerous advantages including real time data collection, accuracy, and versatility.
  • Among well type, cased hole segment accounted for the largest share in 2016 and expected to retain its dominance during the forecast period. Cased hole is described as a well having a portion cemented with metal casing, which ensure protection from fluids and pressures. Cased hole services increase stability of the wellbore and thus, fuels the global growth of cased hole segment.

Key Takeaways of the Market:

  • North America held a dominant position in the global wireline services market in 2016 with 47.56% of total market share in the global wireline services market. The region is projected to witness a substantial growth in CAGR during the forecast period. Furthermore, U.S. led the market in North America in 2016 and is expected to retain its dominance in the near future, owing to the rapidly growing oilfield sector in the country and the extensive application of the wireline services in the oil and gas industry. According to Energy Information Administration (EIA), U.S. recorded a tremendous increase in the crude oil production in 2014, accounted to increase of overall output by 16.2%, recorded as the highest growth of this sector since 1940. Furthermore, various technological advancements including hydraulic fracturing, horizontal drilling, and introduction of the new shale oilfields, fuels the growth of the oil and gas sector, which in turn propels the growth of wireline services market in the region. In 2016, US Geological Survey (USGS) has discovered the largest continuous gas and oil deposit in West Texas, with approximately three times more petroleum than the North Dakota's Bakken shale found in 2013. 

The major players operating in the global wireline services market include GE Oil & Gas Corporation, Superior Energy Services Inc., FMC Technologies Inc., Pioneer Energy Services Corporation, Schlumberger Limited, C&J Energy Services Inc., and Allied-Horizontal Wireline Services LLC. Weatherford International and Halliburton Company.

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