Market Size of North America Wireline Logging Services Industry
| 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 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 Size Summary
The North American wireline logging services market is poised for growth, driven by increased exploration and production activities in the oil and gas sector, particularly in the United States and Canada. Despite the challenges posed by the COVID-19 pandemic, which led to delays in drilling activities due to lockdowns, the market is expected to recover and expand. The shift towards renewable energy sources, such as solar and wind, presents a challenge to the oil and gas upstream sector, potentially impacting the demand for oilfield services. However, technological advancements in well logging, including the use of acoustic and caliper logs, offer significant opportunities for market growth. Open-hole logging, known for its accuracy and reliability, is anticipated to experience faster growth, maintaining its status as a cost-effective method for oil and gas production.
The United States is expected to lead the market growth in North America, supported by favorable regulations and rising crude oil prices, which are likely to attract more investments in exploration and production activities. The country's substantial share in global crude oil production and the recent surge in upstream projects, both offshore and onshore, contribute to a favorable business environment for wireline logging services. Key players in the moderately consolidated market, such as Schlumberger Limited, Halliburton Company, and Baker Hughes Co., are actively enhancing their service offerings through innovative technologies. These developments, along with significant investments in the upstream sector, are expected to bolster the market's growth trajectory during the forecast period.
North America Wireline Logging Services Market Size - Table of Contents
-
1. MARKET OVERVIEW
-
1.1 Introduction
-
1.2 Market Size and Demand Forecast in USD million, till 2027
-
1.3 Onshore and Offshore Active Rig Count, till February 2022
-
1.4 Recent Trends and Developments
-
1.5 Government Policies and Regulations
-
1.6 Market Dynamics
-
1.6.1 Drivers
-
1.6.2 Restraints
-
-
1.7 Supply Chain Analysis
-
1.8 Porter's Five Forces Analysis
-
1.8.1 Bargaining Power of Suppliers
-
1.8.2 Bargaining Power of Consumers
-
1.8.3 Threat of New Entrants
-
1.8.4 Threat of Substitutes Products and Services
-
1.8.5 Intensity of Competitive Rivalry
-
-
-
2. MARKET SEGMENTATION
-
2.1 Wireline Type
-
2.1.1 E-line
-
2.1.2 Slickline
-
-
2.2 Hole Type
-
2.2.1 Open Hole
-
2.2.2 Cased Hole
-
-
2.3 Geography
-
2.3.1 United States
-
2.3.2 Canada
-
2.3.3 Rest of North America
-
-
North America Wireline Logging Services Market Size 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.
