Market Size of US Wireline Logging Services Industry
| Study Period | 2021 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2021 - 2022 |
| CAGR | > 2.62 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
US Wireline Logging Services Market Analysis
The United States Wireline Logging Services Market is expected to grow at a CAGR of 2.62% during the forecast period.
The market was severely impacted by the Covid-19 pandemic, as global demand for hydrocarbons plummeted. However, the market has since rebounded and is expected to reach pre-pandemic values during the forecast period.
- Over the long term, as demand for natural gas from the power generation and heating sectors increases, it is expected to drive the demand for increasing natural gas production capacity, which is expected to drive the market during the forecast period.
- However, environmental concerns about fracking are expected to restrain shale drilling, which may negatively impact the market's growth during the forecast period.
- The increase in oil and gas discoveries, coupled with the liberalization of the industry, has opened lucrative opportunities for foreign players to invest in the country's studied wireline logging services market.
US Wireline Logging Services Industry Segmentation
Wireline services are the electrical cabling technology used by oil and gas well operators for lowering measurement equipment into the well for intervention process, reservoir evaluation, and pipe recovery activities.
The United States Wireline Logging Services Market is segmented by Deployment, Type, and Hole Type. By Deployment, the market is segmented into Onshore and Offshore. By Type, the market is segmented into Electric Line and Slickline. In the case of Hole Type, the market is segmented into Open-Hole and Cased-Hole. For each segment, the market sizing and forecasts have been done based on revenue (USD).
| Deployment | |
| Onshore | |
| Offshore |
| Type (Qualitative Analysis Only) | |
| Electric Line | |
| Slick Line |
| Hole Type (Qualitative Analysis Only) | |
| Open Hole | |
| Cased Hole |
US Wireline Logging Services Market Size Summary
The United States Wireline Logging Services Market is poised for growth, driven by the increasing demand for natural gas in power generation and heating sectors. The market, which faced significant challenges due to the Covid-19 pandemic, has shown resilience and is expected to recover to pre-pandemic levels. The liberalization of the oil and gas industry and the rise in oil and gas discoveries have created attractive opportunities for foreign investments in the market. However, environmental concerns surrounding fracking pose potential challenges to market expansion. The United States, being a leading producer of oil and natural gas, primarily relies on onshore fields, with significant contributions from major shale plays like Barnett, Haynesville, Bakken, and the Permian Shale in West Texas, which is noted for its low development costs.
The market's growth is further supported by the substantial number of drilled but uncompleted onshore wells, which necessitate wireline completion services. The United States' position as the largest shale gas producer globally, coupled with its cost-effective fracking operations, continues to attract investments, bolstering the sector's expansion. The market is characterized by fragmentation, with key players such as Schlumberger Limited, Halliburton Company, and Baker Hughes Company actively participating. Recent acquisitions and project awards, like those by Caliber Completion Services and Schlumberger, highlight ongoing strategic movements within the industry, reinforcing the market's growth trajectory during the forecast period.
US Wireline Logging Services Market Size - Table of Contents
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1. MARKET OVERVIEW
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1.1 Introduction
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1.2 Market Size and Demand Forecast in USD, till 2028
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1.3 Onshore and Offshore Active Rig Count, till December 2022
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1.4 Major Upcoming Upstream Projects
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1.5 Recent Trends and Developments
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1.6 Government Policies and Regulations
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1.7 Market Dynamics
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1.7.1 Drivers
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1.7.2 Restraints
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1.8 Supply Chain Analysis
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1.9 PESTLE Analysis
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2. MARKET SEGMENTATION
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2.1 Deployment
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2.1.1 Onshore
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2.1.2 Offshore
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2.2 Type (Qualitative Analysis Only)
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2.2.1 Electric Line
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2.2.2 Slick Line
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2.3 Hole Type (Qualitative Analysis Only)
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2.3.1 Open Hole
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2.3.2 Cased Hole
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US Wireline Logging Services Market Size FAQs
What is the current United States Wireline Logging Services Market size?
The United States Wireline Logging Services Market is projected to register a CAGR of greater than 2.62% during the forecast period (2024-2029)
Who are the key players in United States Wireline Logging Services Market?
Schlumberger Limited, Halliburton Company, Baker Hughes Company, Expro Group and Weatherford International are the major companies operating in the United States Wireline Logging Services Market.
