Wireline Services Market 2017 - Scope, Size, Share, Emerging Trends, Leading Global Players Insight and Forecast to 2023


Posted October 9, 2018 by harishsomani321

Wireline Services Market Research Report by Application (completion, intervention and logging), Type (electric lines, slicklines), Well Type (cased wells and open wells), Location (onshore and offshore), Region, and Forecast till 2023

 
Market Overview:
Wireline is a cabling service used by oil and gas wells operators for lowering equipment down the well so as to perform variety of operations such as well intervention, pipe recovery, reservoir evaluation, and others. The global wireline services market is expected to generate a CAGR of 9.5 % during the forecast period ending 2027.
Wireline Service Market is expected to expand due to various factors that drive the market. The factors include, oil price recovery, increasing oil exploration and field development activities, rising number of mature oil wells. For instance, there has been a significant discovery by Westwood Energy Group in offshore deep-water in Atlantic region in Guyana.
Wireline services are vital in the oilfield operations and are cost-effective methods of maintenance of the wellbores. The wireline service include cabling technology used by oilfield developers to reduce the number of equipment or measurement devices inside the well. Advantages of deployment of wireline services include evaluation of rock properties, information gathering for pore size, pressure gathering for production fluid formation, sample recovery, location casting rollers. Oilfield service providers are using innovative technology in wireline cabling technology for introducing down or lifting any type of instrument or equipment in and out of the wellbore. The main functions performed by wireline services include intervention, well completion, pipe recovery, and evaluation of reservoirs.
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Regional Analysis:
The North America accounts for the largest market share of the Wireline Services Market followed by Asia-Pacific and South America region. The development of shale in the U.S. and Canada is expected to drive a faster growth of the market after a period of stagnancy.
Middle East and Asia-Pacific regions are anticipated to be the fastest growing market owing to growing economic clout and industrialization. Malaysia, Australia, and Indonesia are key markets in the Asia-Pacific region with a large opportunity due to discoveries of oil in the South China Sea. Other Asian countries providing opportunities are Turkmenistan, Kazakhstan and others.
Market Segmentation:
Global Wireline Services Market is segmented on the basis of application, type, well type, and location. Based on application, the market is further segmented into completion, intervention and logging. Amongst these segments, completion segment holds the largest share due to improved efficiency of wireline services over conventional well completion tools.
On the basis of type, market is classified as electric lines and slicklines. E-lines or electric lines segment has major market share in the wireline system market due to the distinction in application in well logging purposes as they are regarded as appropriate for reservoir understanding and field development activity.
Based on well type, the market is categorized into open-hole wells and cased wells. The cased well type segment holds major share of the wireline service market owing to a higher number of mature wells, wherein wireline services are implemented.
On the basis of location, the market is segmented as onshore and offshore. The offshore segment is expected to grow at higher rate, due to increasing exploration and drilling activities in offshore locations coupled with exploration in harsher geographies in offshore location. For an instance, there are increasing activities in ultra-deep water in North Sea and Gulf of Mexico.
Global Key Players:
The key players available in the Global Wireline Services Market 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.), 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).
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Last Updated October 9, 2018