USD 22.5 billion
Global Wireline Services Market Size, Share, Growth Analysis, By Well Type(Open Hole, Cased Hole), By Service(Electric Line, Slick Line), By Location(Onshore, Offshore), By Application(Well Completion, Well Intervention) - Industry Forecast 2024-2031
Report ID:
SQMIG10B2078 |
Region:
Global |
Published Date: February, 2024
Pages:
157
|
Tables:
114 |
Figures:
77
Global Wireline Services Market Insights
Wireline Services Market size was valued at USD 22.5 billion in 2019 and is poised to grow from USD 24 billion in 2023 to USD 37.73 billion by 2031, growing at a CAGR of 6.7% in the forecast period (2024-2031).
The oil and gas sector uses wireline services, commonly referred to as electrical cabling technology, for reservoir evaluation, pipe recovery operations, and intervention procedures. In order to provide real-time, precise, and quantifiable data, these services use multi-strand cables to transport equipment into wells for functions including data collecting and boosting well performance. One of the main factors propelling the expansion of the global wireline services market is the increase in ongoing drilling and completion activities.
Demand for wireline services is increasing as oil and gas production operations expand. Opportunities for the global wireline services market are being created by the rising need for cabling in the oil and gas fracking industries. The use of wireline services by businesses keeps oil and gas production activities affordable in terms of both time and money, expanding the potential for the global wireline services market.
US Wireline Services Market is poised to grow at a sustainable CAGR for the next forecast year.
Market snapshot - 2024-2031
Global Market Size
Largest Segment
Cased Hole
Fastest Growth
Cased Hole
Growth Rate
6.7% CAGR
Global Wireline Services Market ($ Bn)
Country Share for North America Region (%)
Global Wireline Services Market By Well Type ($ Bn)
Global Wireline Services Market By Well Type (%)
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Global Wireline Services Market Segmental Analysis
The Global Wireline Services Market is segmented based on the Well Type, Service, Location, Application, and Region. Based on the Well Type, the Global Wireline Services Market is segmented as Open Hole and Cased Hole. Based on the Service, the Global Wireline Services Market is segmented as Electric Line and Slick Line. Based on the Location, the Global Wireline Services Market is segmented as Onshore and Offshore. Based on the Application, the Global Wireline Services Market is segmented as Well Completion, Well Intervention, and Well Logging. Based on Region Wireline Services Market is categorized into North America, Europe, Asia-Pacific, Latin America, and MEA.
Wireline Services Market Analysis by Well Type
Due to the advantages the product offers, such as the ability to determine the status of the cement, corrosion, and perforation, the cased hole segment is anticipated to account for the biggest market share. Gamma-ray and neutron porosity may both pass through a cased hole. Additionally, measures of hydrocarbon saturation, porosity, and producibility can provide more accurate insights into thermal degradation and interval transit. The deployment of sensors to measure every element of reservoirs on-site and in real-time is expected to cause the open hole sector to expand at a significant rate as well.
Global Wireline Services Market By Well Type, 2023 (%)
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Global Wireline Services Market Regional Insights
A large market share is anticipated for North America as a result of the rising amount of oil and gas finds with enormous potential for oilfield exploration. For instance, the United States crude oil output peaked in May 2020 at 12.2 million barrels per day (MMbpd). Exxon Mobil had intended to make a USD 33 billion first commitment for a liquefied natural gas project for the largest plant in Africa in July 2019. North America, where there is a substantial need for global wireline services market due to the shale boom in the country, is expected to experience significant market expansion. Huge investments in the oil and gas sector are being made by regional firms in the Middle East and Africa, which is driving up the price of oil and gas and driving up the need for a global wireline services market.
Global Wireline Services Market By Region, 2024-2031
- Largest
- Fastest
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Global Wireline Services Market Dynamics
Wireline Services Market Driver
Raising Awareness of Extending Life of Mature Oil Fields
- Growing efforts to incorporate effective production methods to increase output and the presence of old and mature wells in diverse locations are expected to fuel market expansion. Mature fields produced nearly 70% of the total oil and gas output, according to a Halliburton survey. Therefore, by utilizing cutting-edge technologies like EOR technologies, these firms are largely focused on enhancing recovery and prolonging the life of older fields. The utilization of thermal EOR to improve heavy oil output contributes to the market's expansion.
Wireline Services Market Restraint
Volatility in Oil Prices and Rising Trend of Adopting Renewable Energy
- The demand for oil and the supply of it are the main factors affecting its price, which varies greatly. The current low price of oil will probably cause projects to be delayed and investments to be affected. The oil and gas industry's services sector is projected to be impacted by the rising trend of integrating alternative energy sources, such as solar, wind, and hydro, which would lessen reliance on fossil fuels. As a result, the market expansion in the anticipated time frame will be constrained by the volatility in oil prices as well as the rising tendency toward the use of renewable energy.
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Global Wireline Services Market Competitive Landscape
The Global Wireline Services market is relatively fragmented, with a high level of competition. Companies are working on new product launches and other initiatives to provide better equipment to their customers and expand their companies globally. These industry leaders are expanding their client base in a variety of ways, and many organizations are forming strategic and creative partnerships with other start-up businesses in order to increase market share and profitability.
Wireline Services Market Top Player's Company Profiles
- Halliburton Company
- Schlumberger Limited
- Baker Hughes Company
- Weatherford International plc
- Superior Energy Services, Inc.
- China Oilfield Services Limited (COSL)
- C&J Energy Services, Inc.
- Expro Group
- Pioneer Energy Services Corp.
- National Oilwell Varco, Inc.
- Oilserv Group
- Basic Energy Services, Inc.
- Wireline Engineering Ltd.
- GE Oil & Gas
- Nabors Industries Ltd.
- FMC Technologies, Inc.
- Welltec A/S
- Archer Limited
- Oceaneering International, Inc.
- China National Offshore Oil Corporation (CNOOC)
Wireline Services Market Recent Developments
- In May 2022, The Nexus OnCore Compact Control System was introduced by Baker Hughes subsidiary Nexus Controls broadening the range of Nexus OnCore Control Systems. This new system offers wireline services that may be deployed in awkward spaces, together with the digital toolkit and sophisticated diagnostic capabilities of a distributed control system (DCS). Additionally, the new system offers improved efficiency, a better awareness of assets, and operational optimization in controls that are often employed in wireline services.
- In May 2022, Baker Hughes, an energy technology business, introduced the MS-2 Annulus Seal, a new subsea wellhead and wireline technology, in an effort to significantly cut operating rig expenses by reducing the overall cost of wellhead installation as a result of fewer rig visits. At the Houston Offshore Technology Conference in 2022, the new integrated sealing system was introduced to the world and shown. It has since been accepted by several clients in North and South America.
Global Wireline Services Key Market Trends
- The need for oilfield services is rising as a result of offshore production. The global wireline services market will expand throughout the projection period as a consequence of the rising investment in subsea oil and gas assets. In order to improve the performance of their reservoirs, extend the life of their wells, and raise well productivity, oil field operators are making significant investments in offshore assets. In the upcoming year, deepwater operations are expected to increase.
- Wireline services are being used more often in the oil and gas sector as a result of oilfield reserve discoveries and rising expenditure on the development of new projects. Compared to 10 billion barrels of oil equivalent, it has seen a rise in finds of roughly 8 billion barrels.
Global Wireline Services Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected utilizing Primary Exploratory Research backed by robust Secondary Desk research.
According to our Global Wireline Services Market Analysis, the need for global wireline services market is anticipated to increase due to the rising worldwide demand for energy. For instance, the international energy organisation estimates that the demand for energy increased by over 4% in 2020 and 4% in 2021. As a result, there is a greater need for deep good exploration to maximize oil production from each well. Consequently, it is anticipated to fuel the expansion of the global wireline services market during the anticipated timeframe.
| Report Metric | Details |
|---|---|
| Market size value in 2023 | USD 22.5 billion |
| Market size value in 2031 | USD 37.73 billion |
| Growth Rate | 6.7% |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
| Historical Year | 2019 |
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Global Wireline Services Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Global Wireline Services Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Global Wireline Services Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Wireline Services Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Global Wireline Services Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Global Wireline Services Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
Global Wireline Services Market Report Snapshots
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