The Global Wireline service market was valued at US$19.9 billion in 2017 and is projected to reach US$ 33.8 billion by 2025, Wireline services, also known as electrical cabling technology, is used in the gas and oil well industry for reservoir evaluation, pipe recovery activities, and intervention processes. Technological advancement in wireline are providing growth opportunity for the market. Constant advancement in telemetry and digital electronics have improved the tool accuracy and reliability, which helps to extend the tool operation to higher-pressure and higher-temperature environments, improved downhole processing, and enabled new slimhole designs. For instance, reservoir monitoring is one of the area, which have experience the significant advances with the development of new wire line tools.
Market Dynamics:
Increasing demand for crude oil is one of the major factors driving growth of the wireline services worldwide. According to Coherent Market Insights, in 2010, the daily consumption of crude oil was 88.7 million barrels and was projected to reach 96.6 million barrels by 2016. Increasing demand for crude oil is influencing oil production companies to drill new wells, so as to meet rising demand for oil. This in turn, is increasing drilling activities for new oil wells, thus boosting growth of the wireline services market. Moreover, volatile prices of oil and gas is a major factor restraining growth of the market. For instance, according to Organization of the Petroleum Exporting Countries (OPEC), average annual crude oil price was US$ 109.45/barrel in 2012 and is expected to be US$ 66.85/ barrel in 2018. The unexpected price fluctuations are reducing revenue regenerated by companies, in turn, hindering growth of the wireline services market.
Key features of the study:
This report provides in-depth analysis of the wireline services market and provides market size (US$ Mn) and Cumulative Annual Growth Rate (CAGR) (%) for the forecast period (2017–2025), considering 2016 as the base year.
It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrices for this market. It provides valuable insights about market drivers, restraints, opportunities, new product launches or approval, pipeline products, regional outlook, and competitive strategy adopted by the leading players.
It profiles leading players in the global wireline services market based on the following parameters – company overview, financial performance, product portfolio, geographical presence, key developments, and future plans
Insights from this report would allow marketers and the management authorities of the companies to make informed decisions with respect to their future product launch, market expansion, and marketing tactics
The global wireline services market report caters to various stakeholders in this industry, including investors, product developers, distributors, healthcare companies, research institutes, medical devices companies, new entrants, and financial analysts
Stakeholders would greatly benefit in decision-making through the various strategy matrices used in analyzing the wireline services market.
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