Growth Factors of Logging While Drilling Market
The logging while drilling market size was valued at USD 2.82 billion in 2018, and the market is now projected tgrow USD 8.05 billion in 2032 exhibiting a CAGR of 7.83% during the forecast period of 2019-2032.
The COVID 19 had a major impact on the (LWD) Logging While Drilling market mainly because the crisis resulted tslowed down exploration of oil and gas due trestrictions in addition treduced energy demand. A large percentage of drilling activities was either slowed down or stopped, due tthe extra attention paid tcost containment measures as well as safety considerations. Alternatively, the market proved rather sustainable as demand for LWD services gradually increased with the rising oil prices and the return tproducing activities. Technological developments that migrated drilling operation towards automation and digitalization alsadvanced during the pandemic. Therefore, the LWD market is expected treemerge gradually but with considerable long-term opportunities in the pipeline.
Many oilfield service companies are concentrating on getting more value for their buck in the production of oil and gas using better ways. Logging-While-Drilling (LWD) is instrumental in enabling assessment of formation properties, which guides the decision-making process on subsequent operations of the well. It provides real time information that enables the operators tmake evaluation of well status in effective manner. LWD alsminimizes the evils of complication in production processes; thereby, improving operation effectiveness. The LWD system can be effective in the management and control of wells in that operators can optimize on well performances and results.
Some of the major emerging trends in the logging while drilling (LWD) market that are currently being observed include it drilling automation and digitalization, advanced processing of real-time LWD data, integration of LWD systems with other bottom hole sensors, and extension of use of LWD cost-effectively beyond global hydrocarbon frontier exploration. Innovations in sensor technology and wireless communication are promoting the accuracy and optimizing the effectiveness of LWD systems. There is alsa call for further developed LWD solutions in deep water/offshore drilling disciplines meeting the need for improved formation evaluation. The use of artificial intelligence and machine learning in the prediction analysis of the processes is enhancing the operational performance while at the same time controlling for the frequency of failures. Also, there has been a trend of the market tadopt environmental-friendly and cheap methods of drilling in a bid tachieve the sustainability factors.
Comprehensive Analysis of Logging While Drilling Market
The logging while drilling market growth is alsincreasing exponentially because of the segmentation of its market. This market expansion rightly provides a thorough market breakdown near tthe industry considering the leading supply and demand forces. These segmentations are methodically segregated by application analysis. By application analysis incudes onshore and offshore.
The North America region lead the logging while drilling market share by benefitting a market size of USD 1.13 billion in 2018 due textensive oil and gas exploration activities.
Top players in the market have their responsibility of power & energy industrial prospectus growth of the retailing industry and the markets. These players include, Schlumberger, Halliburton, Baker Hughes, Weatherford, Scientific Drilling, Nabors Industries, National Oilwell Varco, Kambi Enterprises Inc., National Energy Services Reunited Corp., COSL - China Oilfield Services Limited, and APS Technology Inc these market players provide a level-playing competitive landscape.
In October 2019, Weatherford secured USD 67.4 million contracts in Russia tprovide LWD, MWD, RSS, drilling, and geo-data interpretation services in Western Siberia oilfields.
Segmentation Table
ATTRIBUTE DETAILS
Study Period 2015-2026
Base Year 2018
Forecast Period 2019-2026
Historical Period 2015-2017
Unit Value (USD Billion)
Segmentation By Application
Onshore
Offshore
Shallow Water
Deepwater
Ultra-Deepwater
By Region
North America (U.S. and Canada)
Latin America (Brazil, Mexico, Argentina, Venezuela, and Rest of Latin America)
Europe (UK, Germany, Norway, Italy, Russia, and Rest of Europe)
Asia Pacific (China, India, Indonesia, Thailand, Australia, and Rest of Asia Pacific)
Middle East & Africa (Saudi Arabia, UAE, Oman, Kuwait, Algeria, Angola, Egypt, and Rest of Middle East & Africa)
- 1. Introduction
- 1.1. Research Scope
- 1.2. Market Segmentation
- 1.3. Research Methodology
- 1.4. Definitions and Assumptions
- 2. Executive Summary
- 3. Market Dynamics
- 3.1. Market Drivers
- 3.2. Market Restraints
- 3.3. Market Opportunities
- 4. Key Insights
- 4.1. Key Emerging Trends – For Major Countries
- 4.2. Latest Technological Advancement
- 4.3. Regulatory Landscape
- 4.4. Industry SWOT Analysis
- 4.5. Porters Five Forces Analysis
- 4.6. Value Chain Analysis
- 5. Global Logging While Drilling Market Analysis (USD Billion), Insights and Forecast, 2015-2026
- 5.1. Key Findings / Summary
- 5.2. Market Analysis, Insights and Forecast – By Application
- 5.2.1. Onshore
- 5.2.2. Offshore
- 5.2.2.1. Shallow Water
- 5.2.2.2. Deepwater
- 5.2.2.3. Ultra-Deepwater
- 5.3. Market Analysis, Insights and Forecast – By Region
- 5.3.1. North America
- 5.3.2. Latin America
- 5.3.3. Europe
- 5.3.4. Asia Pacific
- 5.3.5. Middle East and Africa
- 6. North America Logging While Drilling Market Analysis (USD Billion), Insights and Forecast, 2015-2026
- 6.1. Key Findings / Summary
- 6.2. Market Analysis, Insights and Forecast – By Application
- 6.2.1. Onshore
- 6.2.2. Offshore
- 6.2.2.1. Shallow Water
- 6.2.2.2. Deepwater
- 6.2.2.3. Ultra-Deepwater
- 6.3. Market Analysis, Insights and Forecast – By Country
- 6.3.1. U.S.
- 6.3.2. Canada
- 7. Latin America Logging While Drilling Market Analysis (USD Billion), Insights and Forecast, 2015-2026
- 7.1. Key Findings / Summary
- 7.2. Market Analysis, Insights and Forecast – By Application
- 7.2.1. Onshore
- 7.2.2. Offshore
- 7.2.2.1. Shallow Water
- 7.2.2.2. Deepwater
- 7.2.2.3. Ultra-Deepwater
- 7.3. Insights and Forecast – By Country
- 7.3.1. Brazil
- 7.3.2. Mexico
- 7.3.3. Argentina
- 7.3.4. Venezuela
- 7.3.5. Rest of Latin America
- 8. Europe Logging While Drilling Market Analysis (USD Billion), Insights and Forecast, 2015-2026
- 8.1. Key Findings / Summary
- 8.2. Market Analysis, Insights and Forecast – By Application
- 8.2.1. Onshore
- 8.2.2. Offshore
- 8.2.2.1. Shallow Water
- 8.2.2.2. Deepwater
- 8.2.2.3. Ultra-Deepwater
- 8.3. Market Analysis, Insights and Forecast – By Country
- 8.3.1. UK
- 8.3.2. Germany
- 8.3.3. Norway
- 8.3.4. Italy
- 8.3.5. Russia
- 8.3.6. Rest of Europe
- 9. Asia Pacific Logging While Drilling Market Analysis (USD Billion), Insights and Forecast, 2015-2026
- 9.1. Key Findings / Summary
- 9.2. Market Analysis, Insights and Forecast – By Application
- 9.2.1. Onshore
- 9.2.2. Offshore
- 9.2.2.1. Shallow Water
- 9.2.2.2. Deepwater
- 9.2.2.3. Ultra-Deepwater
- 9.3. Market Analysis, Insights and Forecast – By Country
- 9.3.1. China
- 9.3.2. India
- 9.3.3. Indonesia
- 9.3.4. Thailand
- 9.3.5. Australia
- 9.3.6. Rest of Asia Pacific
- 10. Middle East & Africa Logging While Drilling Market Analysis (USD Billion), Insights and Forecast, 2015-2026
- 10.1. Key Findings / Summary
- 10.2. Market Analysis, Insights and Forecast – By Application
- 10.2.1. Onshore
- 10.2.2. Offshore
- 10.2.2.1. Shallow Water
- 10.2.2.2. Deepwater
- 10.2.2.3. Ultra-Deepwater
- 10.3. Market Analysis, Insights and Forecast – By Country
- 10.3.1. Saudi Arabia
- 10.3.2. UAE
- 10.3.3. Oman
- 10.3.4. Kuwait
- 10.3.5. Algeria
- 10.3.6. Angola
- 10.3.7. Egypt
- 10.3.8. Rest of Middle East & Africa
- 11. Competitive Analysis
- 11.1. Company Market Share Analysis, 2018
- 11.2. Company Profile
- 11.2.1. Schlumberger
- 11.2.1.1. Business Overview
- 11.2.1.2. Product & Service Offering
- 11.2.1.3. Overall Revenue
- 11.2.1.4. Geographic Presence
- 11.2.1.5. Recent Development
- 11.2.2. Halliburton
- 11.2.2.1. Business Overview
- 11.2.2.2. Product & Service Offering
- 11.2.2.3. Overall Revenue
- 11.2.2.4. Geographic Presence
- 11.2.2.5. Recent Development
- 11.2.3. Baker Hughes
- 11.2.3.1. Business Overview
- 11.2.3.2. Product & Service Offering
- 11.2.3.3. Overall Revenue
- 11.2.3.4. Geographic Presence
- 11.2.3.5. Recent Development
- 11.2.4. Weatherford
- 11.2.4.1. Business Overview
- 11.2.4.2. Product & Service Offering
- 11.2.4.3. Overall Revenue
- 11.2.4.4. Geographic Presence
- 11.2.4.5. Recent Development
- 11.2.5. Scientific Drilling
- 11.2.5.1. Business Overview
- 11.2.5.2. Product & Service Offering
- 11.2.5.3. Overall Revenue
- 11.2.5.4. Geographic Presence
- 11.2.5.5. Recent Development
- 11.2.6. Nabors Industries
- 11.2.6.1. Business Overview
- 11.2.6.2. Product & Service Offering
- 11.2.6.3. Overall Revenue
- 11.2.6.4. Geographic Presence
- 11.2.6.5. Recent Development
- 11.2.7. APS Technology Inc.
- 11.2.7.1. Business Overview
- 11.2.7.2. Product & Service Offering
- 11.2.7.3. Overall Revenue
- 11.2.7.4. Geographic Presence
- 11.2.7.5. Recent Development
- 11.2.8. Kambi Enterprises Inc.
- 11.2.8.1. Business Overview
- 11.2.8.2. Product & Service Offering
- 11.2.8.3. Overall Revenue
- 11.2.8.4. Geographic Presence
- 11.2.8.5. Recent Development
- 11.2.9. National Energy Services Reunited Corp.
- 11.2.9.1. Business Overview
- 11.2.9.2. Product & Service Offering
- 11.2.9.3. Overall Revenue
- 11.2.9.4. Geographic Presence
- 11.2.9.5. Recent Development
- 11.2.10. COSL- China Oilfield Services Limited
- 11.2.10.1. Business Overview
- 11.2.10.2. Product & Service Offering
- 11.2.10.3. Overall Revenue
- 11.2.10.4. Geographic Presence
- 11.2.10.5. Recent Development
- 11.2.11. National Oilwell Varco
- 11.2.11.1. Business Overview
- 11.2.11.2. Product & Service Offering
- 11.2.11.3. Overall Revenue
- 11.2.11.4. Geographic Presence
- 11.2.11.5. Recent Development "
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