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.
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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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