What's driving the Wireline Services Market Growth?
Wireline services market are electrical powered cabling technology used for suspending the various equipment & devices into the well for receiving the details from a remote location. This method helps in collecting real-time data, which is later processed for determining various parameters. Wirelines have braid line having insulated wires, which supply electricity to the devices & equipment working in deep locations.
As the demands for real-time performance and condition monitoring is increasing, the requirements for wireline services is also rising with time. These services provide details about pressure formation, identification, wireline logging, and other conditions. Wireline services are getting massive response from the major oil manufacturers due to its cost-effectiveness in bore management and making the well less populated from devices & equipment which are no longer required. As the oil & gas companies are moving for off-shore source discovery, the demands for wireline technologies have gone up as it can access remote locations out of reach for humans.
Apart from the advantages, the wireless services market faces a severe challenge from the dropping global oil prices accounting for the decrease in global investments and exploration activities. This report will provide a complete detail about the market trends, growth factors, drivers & restraints, opportunities, and other primary factors followed by an in-depth analysis of the major markets around the world. During the survey, the global Wireline Services market growth is anticipated to grow by around a 03 % annual rate.
Applications: The global wireline services market is segmented into the intervention, completion, and logging applications.
Types: Slick lines and electric line types are employed in the wireline services market.
The global wireline services market is characterized into open hole wells and cased wells based on well types.
The global wireline services market is characterized by off-shore and onshore based on locations.
Wireline services are getting a healthy response from around the world as the oil prices and demands are getting stable worldwide, accounting for the expansion of the oil and gas industry. North America, Asia Pacific, Europe, and the rest of the world are the major regions observed for the global Wireline Services market. In the current era, North America will be in the lead due to the rising investments in the oil & gas sector, rising demands discovery for off-shore sources, an increase of demands for advanced technologies, increasing research & development activities, and other factors. Whereas the Middle East & African region are expected to show the highest growth rates due to extensive production capabilities, demands for the latest technologies, rising off-shore discovery activities, and other factors.
The key players of global wireline services companies are GE Oil and Gas (U.S.), Weatherford International (U.S.), Schlumberger (U.S.), Superior Energy Services (U.S.), Pioneer Energy Services Corp. (U.S.), C&J Energy Services Ltd. (U.S.), and National Oilwell Varco, Inc. (U.S.). Halliburton (U.S.), Basic Energy Services, Inc. (U.S.), Expro International Group Holding Ltd. (UK), Wireline Engineering Ltd. (UK), Oilserv (UAE), and SGS (Switzerland) are among others.