Wireline Logging Service Market Size, Share & Trends Analysis Report By Technology (Slickline, E-line), By Hole Type (Open Hole, Cased Hole), By Region, And Segment Forecasts, 2023 - 2030
Wireline Logging Service Market Size, Share & Trends Analysis Report By Technology (Slickline, E-line), By Hole Type (Open Hole, Cased Hole), By Region, And Segment Forecasts, 2023 - 2030
Wireline Logging Service Market Growth & Trends
The global wireline logging service market size is expected to reach USD 48.69 billion by 2030, expanding at a CAGR of 8.1% from 2023 to 2030, according to a new report by Grand View Research, Inc. This can be attributed to the potential increase in recoverable resources and increased production & exploration. Increase in crude oil prices is estimated to result in rise in investments for exploration & production activities leading to significant new projects across the globe, which is expected to positively impact industry growth.
Technological advancements have broadened service offerings by oil & gas field service providers and improved industry efficiency. Several new technologies such as drill ships and Floating, Production, Storage, and Offloading (FPSO) vessels have enabled wells to be drilled in increasingly deep water. Additionally, the new reservoir conditions including high temperature, ultra-deep water, and high pressure require advanced logging tools and services. The aforementioned factors are projected to drive the industry demand over the next seven years.
Rise in the number of horizontal wells, demand for real-time logging, and well integrity concerns are estimated to offer significant opportunities for industry growth. However, increased seismic activities and stringent government regulations can hamper wireline logging service market.
Wireline Logging Service Market Report Highlights
E-line logging segment accounted for over 57.4% of the revenue in 2022 and is expected to witness substantial rise in demand over the forecast period. It finds more usage as compared to the slickline products owing to its wide application across several E&P activities. Some of the factors responsible for electric line’s increased adoption include its ability to transmit electric data by offering a pathway for communication between the downhole equipment and the surface.
Cased segment dominated the wireline logging service market with a revenue share of 79.7% in 2022. The industry has been developing sophisticated measurements in through-casing applications. Tools such as gamma ray, spectral gamma ray, pulse neutron, and compensated neutron are used for determining water saturation.
North America dominated the market in 2022 and is expected to grow at a CAGR of over the forecasr period. Potential increase in recoverable resources and completion activities within North America are expected to drive the demand across this region over the forecast period.
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Chapter 1. Methodology and Scope
1.1. Market Segmentation & Scope
1.1.1. Technology
1.1.2. Hole type
1.1.3. Regional scope
1.1.4. Estimates and forecast timeline
1.2. Research Methodology
1.3. Information Procurement
1.3.1. Purchased database
1.3.2. GVR’s internal database
1.3.3. Secondary sources
1.3.4. Primary research
1.3.5. Details of primary research
1.4. Information or Data Analysis
1.5. Market Formulation & Validation
1.6. Model Details
1.7. List of Secondary Sources
1.8. List of Primary Sources
1.9. Objectives
Chapter 2. Executive Summary
2.1. Market Outlook
2.2. Segment Outlook
2.2.1. Technology outlook
2.2.2. Hole type outlook
2.2.3. Regional outlook
2.3. Competitive Insights
Chapter 3. Wireline Logging Service Market Variables, Trends & Scope
3.1. Market Lineage Outlook
3.2. Industry Value Chain Analysis
3.3. Market Dynamics
3.3.1. Market driver analysis
3.3.2. Market restraint analysis
3.3.3. Market opportunity analysis
3.4. Wireline Logging Service Market Analysis Tools