Wireline Services Market is anticipated to hit $9.89 billion by 2023 at a CAGR of 7.50%.
Americas held the largest market share in the Wireline Services Market The American region holds the largest market share and growth in the Wireline Services Market and is anticipated to reach $4.9 billion by 2023 at a CAGR of 6.31%. However, Europe witnesses the highest growth during the forecast period and is expected to reach $1.6 billion by 2023 at a CAGR of 9.54%. American wireline service market is mainly driven by the huge demand for oil and gas in recent years. Recent discovery of shale oilfields in this region has paved the way to meet the increase in demand which would result in the escalating use of wireline tools for well intervention and to evaluate data from the oil wells. The key applications include wireline logging, wireline intervention, wireline completion, recovery and others. Contact : [email protected]
Selected Value Chain Analysis done in the full report Electric Wireline Services are an integral part of the oilfield
services market and has applications ranging from drilling to production. The key application for wireline services mainly lie in the exploration and production phase along with providing extensive support during post-productive life of oil wells. Generally, the exploration equipment and service providers are significant stakeholders in the wireline services market. Apart from this, the raw material suppliers and testing & certification service providers also play an important role in the optimal deliverance of such services. Over the years, the market for wireline services reached its peak as the demand for shale reserves proliferated the global oil & gas industry. Contact : [email protected]
Excerpts on Market Growth Factors Growth strategies followed by Companies like Schlumberger include
improved project management, aligning enabling technologies, and engaging concurrent teams early in the process. The factors driving the Wireline Services Market growth include spectrum utilization, reduced cost, new technology development, energy efficiency and so on. Overall business consolidation with business sale or mergers to reduce debt and improve cost efficiencies across countries have also been impacting the future growth of wireline services market. Increasing discoveries of the reserves in alternative resources as well as growing requisites to sustain and lift the recovery rates from these hydrocarbon resources will fuel the market for wireline during the forecast period. Contact : [email protected]
Key players of Wireline Services Market: The major wireline service companies that are listed are Schlumberger
Ltd., Halliburton, Baker Hughes, Weatherford International PLC and Superior Energy Services. Among these, Schlumberger stood in first position in terms of generating highest overall revenue followed by Halliburton, which was followed by Baker Hughes. Key players of wireline services market have been investing in the research and development. One of the major players- Schlumberger Ltd. (U.S.) spends nearly 3% of its annual revenue on R&D. Other participants in the market have also been witnessing strong sales for wireline services. Download Sample Report Contact : [email protected]
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