Wireline
services market was USD 19.10 billion in 2014 and is expected to
reach USD 34.96 billion by 2020, growing at a CAGR of 10.36% from
2014 to 2020.
The
oil field service companies accommodate the wireline services to the
exploration and production (E&P) companies of oil & natural
gas. There has been a continuous increase in the exploration and
production activities of oil & gas in finding new areas of
unconventional resources, which has immensely bolstered the growth of
the global wireline services market. These wireline services are
required by the oil and gas industries for its entire lifecycle which
includes exploration, drilling, completion, stimulation, and
intervention. The growth of the wireline services market is directly
proportional to the drilling and completion activities around the
world. Various other factors such as geological condition and types
of reservoir require different types of wireline services which
boosts the growth of the global wireline services market. On the
other hand, increased investment in the exploration and production
activities will act as a market opportunity for the wireline services
market.
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the full Global Wireline Services Market Report at
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The
global market for the wireline services market has a wide area of
application as these services are specifically used to run the
equipment into the down hole, after and before the completion. The
major drivers for the global wireline services market is the increase
in demand for oil and gas globally. This has pressurized the
industries to extract more from each well and, henceforth, further
deep exploration is done. To accomplish the growing demand, there has
been continuous growth in exploration, production and completion
activities.
Oil
field service companies offer wireline services to exploration and
production (E&P) companies in the oil and natural gas segment.
Increasing activities in the oil and gas sector to discover new areas
with unconventional resources along with the rise in exploration and
production activities have significantly bolstered the growth of the
global wireline services market. Wireline services are required by
oil and gas industries for the entire life cycle of oil and gas
wells, which includes exploration, drilling, completion, stimulation,
and intervention. The growth of the wireline services market is
directly proportional to the drilling and completion activities being
undertaken across the world. Owing to factors such as geological
condition and type of reservoir, there exists a demand for different
types of wireline services. This, in turn, drives the growth of this
market. Increasing investment in exploration and production
activities would further open up market opportunities for the
wireline services market.
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Geographically,
North America has the major market share for global wireline services
market. The strong research and development practices in the North
American region have helped the market to grow. Also, the favorable
regulations have helped the North American market to propel to the
level of market leader in global wireline services market. However,
the mature wireline services market in this region is subjected to
stiff competition. The market for wireline services, in the remaining
region, is growing at a higher growth rate with exploration of new
reserves and oilfields creating growth prospects, especially, in the
Asia-Pacific and Middle-East regions. Analysis and forecasting of
wireline services market is given by application and region mentioned
below:
Browse
All PR:
http://www.transparencymarketresearch.com/press-releases.htm
Wireline
Services Market: By Application
Wireline
Logging
Wireline
Intervention
Wireline
Completion
Browse
All Articles:
http://www.transparencymarketresearch.com/articles.htm
Wireline
Services Market: Regional Analysis
North
America
Europe
South
America
Middle
East
Asia
Pacific
Africa
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