North America Wireline Logging Services Market Size
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2020 - 2022 |
| CAGR | > 4.10 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
North America Wireline Logging Services Market Analysis
The wireline logging services market is expected to witness a CAGR of more than 4.1% during the forecast period, 2022-2027. The North American wireline logging services market is one of the worst-hit industries during the COVID-19 pandemic. The oil and gas drilling activities witnessed delays due to imposed lockdown restrictions in major countries like the United States, Canada, and Mexico. The wireline logging services market is largely driven by the growth in exploration and production activities in the oil and gas industry and increasing investments in offshore petroleum production activities in the United States and Canada. However, the global energy transition towards renewables, particularly solar and wind, has the vibe to hit the oil and gas upstream sector and also reduce the demand for oilfield services.
- Open-hole logging is likely to grow at a faster rate across the region during the forecast period due to its higher accuracy and reliability.
- The technological advancements in the field of well logging, such as the implementation of acoustic Logs and caliper Logs, pose a great opportunity for the growth of the wireline logging services market.
- The United States is expected to be the fastest-growing market across the region due to the upcoming upstream projects.
North America Wireline Logging Services Market Trends
This section covers the major market trends shaping the North America Wireline Logging Services Market according to our research experts:
Open Hole Segment Expected to Dominate the Market
- Open hole logging refers to the logging operations that are performed before the wellbore has been cased. In this type, logging is performed through the bare rock sides of the downhole formation. Open hole logging is the most widely used technique at the global level as it renders no obstruction during the measurements.
- Open hole logging is the most mature logging technique. It is expected to continue its share in the near future, as the hunt for new oil and gas fields is still on in many countries for more production. The global oil production was recorded as 88,391 thousand barrels per day. The method will prove to be the most cost-effective way to produce oil and gas from the reserves, particularly at this time when the companies have to invest cautiously in the upstream sector.
- Significant proven crude and natural gas reserves across the region are likely to institute a favorable business scenario for the market players operating in the exploration and production activities. In 2020, Utah witnessed the largest 30% increase in proven crude reserves and condensates. This, in turn, may boost the wireline logging services market during the forecast timeline.
- Such developments in the oil and gas upstream sector are likely to have a positive impact on the wireline logging services market across North America during the forecast period.
United States to Dominate the Market
- The dominance is seen primarily due to continuous and significant increment in the exploration and production activities across the United States. The new unconventional hydrocarbon recovery and its growth are important reasons for the market's growth. The nation has the highest market share because of favorable supportive regulations.
- The rising crude oil prices are about to bring more revenue and more investments for the E&P companies, and subsequently, it will lead to more contracts for oilfield services players. The country has recently witnessed an upsurge in many upstream projects, both offshore and onshore.
- The United States was among the top five crude oil producers, with a 15% share of world crude oil production in 2020. This, in turn, is further likely to institute a favorable business scenario for the players operating in the wireline logging services market in the near future.
- Moreover, in October 2021, Halliburton Company (HAL), a US-based wireline logging system provider, released the iStar Intelligent Drilling and Logging Platform, a comprehensive measurement platform comprising multiple services for greater control of drilling and logging operations within the country.
- Owing to such big investments planned in the upstream sector by the national and international companies, the country is expected to ace the market in the forecast period.
North America Wireline Logging Services Industry Overview
The North American wireline logging services market is moderately consolidated. The key players in this market include Schlumberger Limited, Halliburton Company, Expro Group, Weatherford PLC, and Baker Hughes Co.
North America Wireline Logging Services Market Leaders
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Schlumberger Limited
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Baker Hughes Company
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Halliburton Company
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Expro Group
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Weatherford International
*Disclaimer: Major Players sorted in no particular order
North America Wireline Logging Services Market News
- In April 2021, Halliburton Company launched an innovative borehole imaging technology to enhance the wireline logging services for the operators. The new StrataXaminer offers more accurate data to enhance the evaluation of production potential. The tool provides high-resolution images of the reservoir structure to identify fracture patterns and fault zones. This new product launch is likely to enhance the company's business portfolio across the region.
North America Wireline Logging Services Market Report - Table of Contents
1. INTRODUCTION
1.1 Scope of the Study
1.2 Market Definition
1.3 Study Assumptions
2. EXECUTIVE SUMMARY
3. RESEARCH METHODOLOGY
4. MARKET OVERVIEW
4.1 Introduction
4.2 Market Size and Demand Forecast in USD million, till 2027
4.3 Onshore and Offshore Active Rig Count, till February 2022
4.4 Recent Trends and Developments
4.5 Government Policies and Regulations
4.6 Market Dynamics
4.6.1 Drivers
4.6.2 Restraints
4.7 Supply Chain Analysis
4.8 Porter's Five Forces Analysis
4.8.1 Bargaining Power of Suppliers
4.8.2 Bargaining Power of Consumers
4.8.3 Threat of New Entrants
4.8.4 Threat of Substitutes Products and Services
4.8.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION
5.1 Wireline Type
5.1.1 E-line
5.1.2 Slickline
5.2 Hole Type
5.2.1 Open Hole
5.2.2 Cased Hole
5.3 Geography
5.3.1 United States
5.3.2 Canada
5.3.3 Rest of North America
6. COMPETITIVE LANDSCAPE
6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
6.2 Strategies Adopted by Leading Players
6.3 Company Profiles
6.3.1 Schlumberger Limited
6.3.2 Halliburton Company
6.3.3 Baker Hughes Company
6.3.4 Expro Group
6.3.5 Weatherford International PLC
6.3.6 RECON Petro Technologies Ltd
6.3.7 NexTier Oilfield Solution Inc.
6.3.8 Pioneer Energy Services Corp.
6.3.9 Superior Energy Services Inc.
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
North America Wireline Logging Services Industry Segmentation
The North American Wireline Logging Services Market includes:
| Wireline Type | |
| E-line | |
| Slickline |
| Hole Type | |
| Open Hole | |
| Cased Hole |
| Geography | |
| United States | |
| Canada | |
| Rest of North America |
North America Wireline Logging Services Market Research FAQs
What is the current North America Wireline Logging Services Market size?
The North America Wireline Logging Services Market is projected to register a CAGR of greater than 4.10% during the forecast period (2024-2029)
Who are the key players in North America Wireline Logging Services Market?
Schlumberger Limited, Baker Hughes Company, Halliburton Company, Expro Group and Weatherford International are the major companies operating in the North America Wireline Logging Services Market.
What years does this North America Wireline Logging Services Market cover?
The report covers the North America Wireline Logging Services Market historical market size for years: 2020, 2021, 2022 and 2023. The report also forecasts the North America Wireline Logging Services Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
North America Wireline Logging Services Industry Report
Statistics for the 2024 North America Wireline Logging Services market share, size and revenue growth rate, created by 糖心vlog传媒鈩� Industry Reports. North America Wireline Logging Services analysis includes a market forecast outlook 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
