ALBANY, New York, August 20, 2014 /PRNewswire/ --
According to a new market report published by Transparency
Market Research "Wireline Services Market - Global Industry
Analysis Size Share Growth Trends and Forecasts 2014-2020,"
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.
Browse the full Global Wireline Services Market Report at
http://www.transparencymarketresearch.com/wireline-services-market.html
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:
Wireline Services Market: By Application
- Wireline Logging
- Wireline Intervention
- Wireline Completion
Wireline Services Market: Regional Analysis
- North
America
- Europe
- South
America
- Middle East
- Asia
Pacific
- Africa
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