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The global wireline services market attained USD 11.14 billion in 2023. The global wireline services market is expected to grow at a CAGR of 3.3% in the forecast period of 2024-2032 to attain USD 14.92 billion by 2032.
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Continuous Discoveries of New Oilfields is Driving the Market of Wireline Services
The oil industry went through a sharp downturn after the 2014 oil price-shock. Since then, the market has come a long way and has stabilized significantly due to a healthy demand-supply curve obtained in the subsequent years. Continuous discoveries of new oilfields and increased exploration activities has been the major driver for the increasing wireline services demand. The electric line segment accounted for the largest market share in terms of type and is expected to grow rapidly during the forecast period. This can be attributed largely to the wide application of electric line for well logging purposes which are helpful for reservoir understanding. The offshore segment is expected to grow at the fastest rate in terms of location of deployment during the forecast period, owing to use of wireline services for well service and completion applications. Discovery and exploitation of newer offshore sites in the Asia Pacific and African regions is expected to drive the market in the forecast period.
The advent of advanced technologies for real-time data transfer, data analysis and better decision-making is one of the crucial trends increasing the wireline services market value. The usage of advanced technologies and automated tools allows high precision and less manual intervention. Furthermore, several market players are making efforts to reduce the operational cost of wireline services by investing in cost-efficient and durable materials as well as superior logistic practices.
ProPetro Holding Corp. announced that it has established a three-year agreement with ExxonMobil in April 2024. Under this agreement, ProPetro aims to provide electric hydraulic fracturing services, including fleets and wireline services, to Exxon in the Permian basin.
The global wireline services market growth is driven by increased oil and gas exploration activities and advancements in well-logging technology. As per the wireline services industry analysis, rising energy demand and the need for well intervention services also boost the market.
According to Enerdata, from 2010 to 2022, global natural gas production saw significant shifts across different regions, with production rising from 3,274 billion cubic meters (bcm) to 4,175 bcm, reflecting a compound annual growth rate (CAGR) of 2.0%.
Europe's natural gas production experienced a notable decline, with production decreasing from 317 bcm in 2010 to 215 bcm in 2022, resulting in a CAGR of -3.2% which decreased the overall wireline services industry revenue. Comparing more recent years, Europe's production fell from 247 bcm in 2018 to 215 bcm in 2022. This decline was marked by sharp drops of 7.3% in 2019 and 7.4% in 2020.
The CIS countries maintained a relatively stable output with some fluctuations. From 2018, when production was at 963 bcm, it increased to 1,011 bcm in 2021 before dropping to 900 bcm in 2022. Despite a 6.1% decrease in 2020, CIS countries experienced an 8.6% increase in 2021, followed by an 11.0% drop in 2022. CIS countries accounted for 21.6% of global production in 2022, showcasing the region's significant contribution despite recent declines which boosts the growth of the wireline services industry.
North America demonstrated robust growth, with production rising from 760 bcm in 2010 to 1,231 bcm in 2022. From 2018 to 2022, production increased from 1,067 bcm to 1,231 bcm. After a 7.8% increase in 2019, there was a slight decline of 1.6% in 2020. The region rebounded with a 3.8% increase in 2021 and a 4.8% rise in 2022, maintaining its position as the largest contributor to global production at 29.5%.
In Latin America, natural gas production showed mixed trends for wireline services industry. From 2018 to 2022, production decreased from 209 bcm to 186 bcm, resulting in a CAGR of -1.0%. The region faced a 1.4% decline in 2019 and a significant 9.7% drop in 2020, followed by a 3.8% decrease in 2021. However, 2022 marked a 3.9% recovery. Latin America's share of global production in 2022 was 4.5%.
Asia Pacific's production experienced consistent growth, with production rising from 610 bcm in 2018 to 686 bcm in 2022. Asia Pacific contributed 16.4% to global production in 2022.
Middle East and Africa saw production rise from 676 bcm in 2010 to 957 bcm in 2022, reflecting a CAGR of 2.9% that can aid wireline services industry demand. The region's production grew from 883 bcm in 2018 to 957 bcm in 2022. Production increased by 2.3% in 2019, faced a slight 0.8% decline in 2020, followed by a substantial 5.8% increase in 2021 and a modest 0.9% increase in 2022. Middle East and Africa accounted for 22.9% of global production in 2022.
Increasing natural gas production necessitates more exploration and maintenance activities, directly boosting demand for wireline services. Wireline services, essential for well logging, maintenance, and intervention, will see growth parallel to the rise in natural gas production, fostering technological advancements and operational efficiency.
Schlumberger Limited: Investing in digital technologies and expanding its portfolio through acquisitions and collaborations to enhance service capabilities and wireline services market opportunities.
Halliburton Company: Focusing on technological innovations, developing new wireline tools, and expanding its global footprint to maintain competitive advantage.
Baker Hughes Company: Emphasizing on sustainable practices and integrating advanced analytics and automation into their wireline services to improve efficiency and reduce environmental impact.
Weatherford International plc: Enhancing its wireline service offerings through technological advancements and strategic partnerships to cater to a broader range of client needs can increase the wireline services market revenue.
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The wireline services are essentially cabling technology used by oilfield developers to reduce their equipment count inside the well. Wireline services are mainly used for the completion, intervention, evaluation of reservoirs and pipe recovery. Wireline services are crucial in oilfield operations and are cost-effective methods of maintenance of the wellbores that can aid the demand of wireline services market. Furthermore, wireline services also help in gauging various aspects of rock formation and many gather crucial data for effective well boring activities.
Based on type, the market is segmented into:
In terms of service type, the market is segmented into:
The wireline services market is divided on the basis of hole type into:
By location of deployment, the market is bifurcated as:
The regional markets for the product include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
The report gives a detailed analysis of the following key players in the global market, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds:
The comprehensive EMR report provides an in-depth assessment of the wireline services industry based on the Porter's five forces model along with giving a SWOT analysis.
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North America Supports the Global Market for Wireline Services by Extensive Oil Exploration Activities
Due to increasing exploration, drilling activities and recovery of oil prices after price shock of 2014, the global wireline services are expected to grow rapidly during the forecast period. North America holds the major share of the global market as activities for shale oil, oil sands, and carbonate rocks are rising. Further, increasing rock and oil exploration activities undertaken by companies in this region is a growing trend in wireline services market. The Asia Pacific and African regions are expected to become significant players in the market in the forecast period. Major key locations which were hitherto untapped are being drilled by players of these markets, such as in the Gulf of Thailand and Egypt.
REPORT FEATURES | DETAILS |
Base Year | 2023 |
Historical Period | 2018-2023 |
Forecast Period | 2024-2032 |
Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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Breakup by Wireline Type |
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Breakup by Service Type |
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Breakup by Hole Type |
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Breakup by Location of Deployment |
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Breakup by Region |
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Market Dynamics |
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Competitive Landscape |
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Companies Covered |
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Report Price and Purchase Option | Explore our purchase options that are best suited to your resources and industry needs. |
Delivery Format | Delivered as an attached PDF and Excel through email, with an option of receiving an editable PPT, according to the purchase option. |
Wireline Services Market Growth
Wireline Services Market Trends
Wireline Services Market Regional Analysis
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Snapshot
6.1 Global
6.2 Regional
7 Opportunities and Challenges in the Market
8 Global Wireline Services Market Analysis
8.1 Key Industry Highlights
8.2 Global Wireline Services Historical Market (2018-2023)
8.3 Global Wireline Services Market Forecast (2024-2032)
8.4 Global Wireline Services Market by Wireline Type
8.4.1 Electric Line
8.4.1.1 Historical Trend (2018-2023)
8.4.1.2 Forecast Trend (2024-2032)
8.4.2 Slick Line
8.4.2.1 Historical Trend (2018-2023)
8.4.2.2 Forecast Trend (2024-2032)
8.5 Global Wireline Services Market by Service Type
8.5.1 Intervention
8.5.1.1 Historical Trend (2018-2023)
8.5.1.2 Forecast Trend (2024-2032)
8.5.2 Logging
8.5.2.1 Historical Trend (2018-2023)
8.5.2.2 Forecast Trend (2024-2032)
8.5.3 Completion
8.5.3.1 Historical Trend (2018-2023)
8.5.3.2 Forecast Trend (2024-2032)
8.6 Global Wireline Services Market by Hole Type
8.6.1 Open Hole
8.6.1.1 Historical Trend (2018-2023)
8.6.1.2 Forecast Trend (2024-2032)
8.6.2 Cased Hole
8.6.2.1 Historical Trend (2018-2023)
8.6.2.2 Forecast Trend (2024-2032)
8.7 Global Wireline Services Market by Location of Deployment
8.7.1 Onshore
8.7.1.1 Historical Trend (2018-2023)
8.7.1.2 Forecast Trend (2024-2032)
8.7.2 Offshore
8.7.2.1 Historical Trend (2018-2023)
8.7.2.2 Forecast Trend (2024-2032)
8.8 Global Wireline Services Market by Region
8.8.1 North America
8.8.1.1 Historical Trend (2018-2023)
8.8.1.2 Forecast Trend (2024-2032)
8.8.2 Europe
8.8.2.1 Historical Trend (2018-2023)
8.8.2.2 Forecast Trend (2024-2032)
8.8.3 Asia Pacific
8.8.3.1 Historical Trend (2018-2023)
8.8.3.2 Forecast Trend (2024-2032)
8.8.4 Latin America
8.8.4.1 Historical Trend (2018-2023)
8.8.4.2 Forecast Trend (2024-2032)
8.8.5 Middle East and Africa
8.8.5.1 Historical Trend (2018-2023)
8.8.5.2 Forecast Trend (2024-2032)
9 North America Wireline Services Market Analysis
9.1 United States of America
9.1.1 Historical Trend (2018-2023)
9.1.2 Forecast Trend (2024-2032)
9.2 Canada
9.2.1 Historical Trend (2018-2023)
9.2.2 Forecast Trend (2024-2032)
10 Europe Wireline Services Market Analysis
10.1 United Kingdom
10.1.1 Historical Trend (2018-2023)
10.1.2 Forecast Trend (2024-2032)
10.2 Germany
10.2.1 Historical Trend (2018-2023)
10.2.2 Forecast Trend (2024-2032)
10.3 France
10.3.1 Historical Trend (2018-2023)
10.3.2 Forecast Trend (2024-2032)
10.4 Italy
10.4.1 Historical Trend (2018-2023)
10.4.2 Forecast Trend (2024-2032)
10.5 Others
11 Asia Pacific Wireline Services Market Analysis
11.1 China
11.1.1 Historical Trend (2018-2023)
11.1.2 Forecast Trend (2024-2032)
11.2 Japan
11.2.1 Historical Trend (2018-2023)
11.2.2 Forecast Trend (2024-2032)
11.3 India
11.3.1 Historical Trend (2018-2023)
11.3.2 Forecast Trend (2024-2032)
11.4 ASEAN
11.4.1 Historical Trend (2018-2023)
11.4.2 Forecast Trend (2024-2032)
11.5 Australia
11.5.1 Historical Trend (2018-2023)
11.5.2 Forecast Trend (2024-2032)
11.6 Others
12 Latin America Wireline Services Market Analysis
12.1 Brazil
12.1.1 Historical Trend (2018-2023)
12.1.2 Forecast Trend (2024-2032)
12.2 Argentina
12.2.1 Historical Trend (2018-2023)
12.2.2 Forecast Trend (2024-2032)
12.3 Mexico
12.3.1 Historical Trend (2018-2023)
12.3.2 Forecast Trend (2024-2032)
12.4 Others
13 Middle East and Africa Wireline Services Market Analysis
13.1 Saudi Arabia
13.1.1 Historical Trend (2018-2023)
13.1.2 Forecast Trend (2024-2032)
13.2 United Arab Emirates
13.2.1 Historical Trend (2018-2023)
13.2.2 Forecast Trend (2024-2032)
13.3 Nigeria
13.3.1 Historical Trend (2018-2023)
13.3.2 Forecast Trend (2024-2032)
13.4 South Africa
13.4.1 Historical Trend (2018-2023)
13.4.2 Forecast Trend (2024-2032)
13.5 Others
14 Market Dynamics
14.1 SWOT Analysis
14.1.1 Strengths
14.1.2 Weaknesses
14.1.3 Opportunities
14.1.4 Threats
14.2 Porter’s Five Forces Analysis
14.2.1 Supplier’s Power
14.2.2 Buyer’s Power
14.2.3 Threat of New Entrants
14.2.4 Degree of Rivalry
14.2.5 Threat of Substitutes
14.3 Key Indicators for Demand
14.4 Key Indicators for Price
15 Competitive Landscape
15.1 Market Structure
15.2 Company Profiles
15.2.1 Baker Hughes Company
15.2.1.1 Company Overview
15.2.1.2 Product Portfolio
15.2.1.3 Demographic Reach and Achievements
15.2.1.4 Certifications
15.2.2 Weatherford International plc
15.2.2.1 Company Overview
15.2.2.2 Product Portfolio
15.2.2.3 Demographic Reach and Achievements
15.2.2.4 Certifications
15.2.3 Schlumberger Limited
15.2.3.1 Company Overview
15.2.3.2 Product Portfolio
15.2.3.3 Demographic Reach and Achievements
15.2.3.4 Certifications
15.2.4 Archer Ltd
15.2.4.1 Company Overview
15.2.4.2 Product Portfolio
15.2.4.3 Demographic Reach and Achievements
15.2.4.4 Certifications
15.2.5 Expro Group
15.2.5.1 Company Overview
15.2.5.2 Product Portfolio
15.2.5.3 Demographic Reach and Achievements
15.2.5.4 Certifications
15.2.6 Pioneer Energy Services Corp.
15.2.6.1 Company Overview
15.2.6.2 Product Portfolio
15.2.6.3 Demographic Reach and Achievements
15.2.6.4 Certifications
15.2.7 Others
16 Key Trends and Developments in the Market
List of Key Figures and Tables
1. Global Wireline Services Market: Key Industry Highlights, 2018 and 2032
2. Global Wireline Services Historical Market: Breakup by Wireline Type (USD Billion), 2018-2023
3. Global Wireline Services Market Forecast: Breakup by Wireline Type (USD Billion), 2024-2032
4. Global Wireline Services Historical Market: Breakup by Service Type (USD Billion), 2018-2023
5. Global Wireline Services Market Forecast: Breakup by Service Type (USD Billion), 2024-2032
6. Global Wireline Services Historical Market: Breakup by Hole Type (USD Billion), 2018-2023
7. Global Wireline Services Market Forecast: Breakup by Hole Type (USD Billion), 2024-2032
8. Global Wireline Services Historical Market: Breakup by Location of Deployment (USD Billion), 2018-2023
9. Global Wireline Services Market Forecast: Breakup by Location of Deployment (USD Billion), 2024-2032
10. Global Wireline Services Historical Market: Breakup by Region (USD Billion), 2018-2023
11. Global Wireline Services Market Forecast: Breakup by Region (USD Billion), 2024-2032
12. North America Wireline Services Historical Market: Breakup by Country (USD Billion), 2018-2023
13. North America Wireline Services Market Forecast: Breakup by Country (USD Billion), 2024-2032
14. Europe Wireline Services Historical Market: Breakup by Country (USD Billion), 2018-2023
15. Europe Wireline Services Market Forecast: Breakup by Country (USD Billion), 2024-2032
16. Asia Pacific Wireline Services Historical Market: Breakup by Country (USD Billion), 2018-2023
17. Asia Pacific Wireline Services Market Forecast: Breakup by Country (USD Billion), 2024-2032
18. Latin America Wireline Services Historical Market: Breakup by Country (USD Billion), 2018-2023
19. Latin America Wireline Services Market Forecast: Breakup by Country (USD Billion), 2024-2032
20. Middle East and Africa Wireline Services Historical Market: Breakup by Country (USD Billion), 2018-2023
21. Middle East and Africa Wireline Services Market Forecast: Breakup by Country (USD Billion), 2024-2032
22. Global Wireline Services Market Structure
In 2023, the global wireline services market attained a value of nearly USD 11.14 billion.
The market is projected to grow at a CAGR of 3.3% between 2024 and 2032.
The major drivers of the market include the wide application of electric line, rising activities for shale oil, oil sands, and carbonate rocks, technological developments, rising requirement to maintain and boost the recovery rates, increasing drilling and completion activities, and increasing energy demand.
The key trends aiding the market growth include the increasing discoveries of new oilfields and increasing exploration activities by key players.
The major regions in the market are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.
The various wireline types considered in the market report are electric line and slick line.
Intervention, logging, and completion are the several service types considered in the market report.
The major hole types considered in the market report are open hole and cased hole.
The significant locations of deployment considered in the market report are onshore and offshore.
The major players in the market are Baker Hughes Company, Weatherford International plc, Schlumberger Limited, Archer Ltd, Expro Group, and Pioneer Energy Services Corp., among others.
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