The global wireline services market had grown due to continuous increase in exploration and production activities of oil & gas to find new areas of unconventional resources. Oil and gas industries require wireline services for its complete lifecycle to complete the activities such as stimulation, drilling, intervention, completion and exploration.
North America had the highest wireline services market owing to the reason that numerous top oil field service companies like Baker Hughes, Halliburton, SchlumIn simplest form, wireline consist a single filament of metal wire with diameter in the range of 0.105” and 0.130”. Wireline services are a cabling technology used by gas wells and oil operators for lowering the measurement devices to evaluate reservoir, pressure formation, well intervention, pipe recovery and fluid identification.
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On the basis of type, the wireline services market can be categorized as well completion, well intervention and well logging. Wireline services market can also be categorized on the basis of technology used such as slick line and electric line. Slick line, non-electric cable, is used to adjust valves, recover wellbore equipments, repair tubing within the wellbore.
Presently, natural gas is a transitional fuel owing to the reason that it acts as a chain between renewable energy and conventional resources, which in turn proves to be an advantage for the natural gas market and hence, to the wireline services market. Some of the major factors driving the growth of the wireline services market are increased expenditure from oil and gas companies, increase in offshore production and exploration activities, and shale gas reserves in North America.
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Synchronization with growing investment in energy and power sector, and possibility of shale gas production in Asia-Pacific and South America are some of the opportunities for the growth of the wireline services market. Fulfilling the rising energy demand in developing countries such as Brazil and India is expected to enhance the growth of the wireline services market. Regulatory challenges and environmental issues, and depleting oil and gas reserves at onshore locations are some of the factors restraining the growth of the wireline services market.
Some of the major competitors in the wireline services market are Expro International Group Holdings Ltd., Superior Energy Services, Inc., Weatherford International Inc., Baker Hughes, Nabors Industries Ltd., Schlumberger, Casedhole Solutions, Pioneer Energy Services, Oilserv, and Halliburton.
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