Increasing oil production and aging reservoirs are the major driving forces driving the wireline services market. The recovery segment is the fastest usw owing to implementation on both onshore and offshore sectors.
Market Drivers
Escalating demand for energy & recoverable resources.
Increasing focus on natural gas production to drive the market. exploration and appraisal activities also improves the demand.
Fluctuating crude oil prices are leading to rising demand for cost-effective well intervention methods thus driving the market.
Increased spending in oil & gas projects and redevelopment of mature fields are driving the market. improving the efficiency of work over rigs is also enhancing the market growth.
Decline in oil & gas production, increasing operating costs and challenges due to aging facilities are set to drive the recovery oilfield market.
The continuous investment in the gcc by nocs along with the ever-increasing technological challenges shows that in the long run, the region will witness a steady growth in demand for well intervention services, hence wire-line services.
Over the last few years, unconventional resources have been the primary driver for the ever-increasing demand for wire-line services globally.
Market Constraints & Challenges
Stringent government regulations concerning oil & gas leaks, water contamination, environmental & public health are posing challenges for the oilfield market, eventually putting a challenge on the wire line service industry to grow.
Declining drilling rig count restraining the market growth globally.
Declining oil prices and increase in the length of horizontal wells are posing challenge for the wire line services service providers.
Low net income and less cash reserves for capex investments among companies to pose a challenge.
The Americas is the dominant region for wireline services market. The total production of crude oil in Americas region increased from 19.84mb/d in 2014 to 20.14mb/d in 2015. Also, a recent discovery of shale oilfields in this region has increased the adoption of well intervention and petro physical data evaluation acquired from oil wells.
Europe is the fastest growing region for wireline services market with U.K. and Norway estimated to witness highest growth during 2016-2022. Demand for technologically advanced wireline tools for numerous field operations is driving the wireline services market in U.K. region.
Key Topics Covered:
1. Wireline Service Market Overview
2. Executive Summary
3. Wireline Services Market Landscape
4. Wireline Services Market Forces
5. Wireline Services Market-Strategic Analysis
6. Wireline Services Market-By Type
7. Wireline Services Market-By Application
8. Wireline Services Market-By Sector
9. Wireline Services Market-By Well Type
10. Wireline Services Market-By Geography
11. Wireline Services Market Entropy
12. Company Profiles
Archer Limited
Baker Hughes Incorporated
Basic Energy Services
China Oilfield Services Limited
Halliburton Company
Pioneer Energy Services Corp.
Schlumberger Ltd.
Sgs Sa
Superior Energy Service, Inc.
Weatherford International Plc
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