Wireline Services Market Trend
Category Intelligence on Wireline Services covers the following
- Information relating to market, supply, cost, and pricing analysis
- Hard to find data on cost and TCO models, supplier details, and performance benchmarks
- Macroeconomic and regional trends impacting cost, supply, and other market dynamics
- Category-specific negotiation and sourcing advice
Industry Outlook & Drivers
Global Market Overview for Wireline Services
- Global market for wireline services is estimated to be at $9.4 billion in 2020. Cased hole wireline services contributed to majority of the market share in 2020
- Increase in capex spending by oil companies is expected to rise the demand for wireline services in the near future
In terms of value, the global wireline services market stood at $9.4 billion in 2020. The market is forecasted to reach $11.5 billion by the end of 2023, with a CAGR of 7.0 percent
- Segment wise, cased hole wireline services accounted for 62.8 percent of the overall wireline services marketin 2020
- Open hole wireline services are majorly applicable for new wells, which constituted to around $4.5 billion in 2020. The open hole wireline services market is expected to increase its market share by the end of 2023, due to upcoming surge in wells
Global Wireline Services- Market Drivers and Constraints
Drivers
Market Drivers and Constraints Drivers Constraints
- Increase in CAPEX spending is driving the demand for wireline services
- Advancement in technologies related to E-Line is likely to increase the demand for the service
- Wireline services are required during well construction, completion and production. Increasing in number of drilling wells globally is increasing demand for wireline services
Constraints
- Stringent environment & emission regulations are making the wireline services activities costlier across several countries
- Major oil & gas assets in Australian Offshore, Gulf of Mexico, Canada are located in environmentally sensitive areas require state-of-art technology, which comes with higher cost
Wireline Services: US Market Outlook
Permian basin is the largest market in the US region for wireline services. The region held a market share of 33.5 percent in 2019, of which, more than 90 percent is contributed from cased hole wireline services. Drilling and completion spend is expected to increase in th e coming years, which boost the wireline services market in the region
- The demand for wireline services in the Mid-Continent region is increasing after a downward trend since the oil price crisis. The region contributed to around 15.4 percent of the overall US wireline services market in 2019
- Eagle Ford is another major region, which has high demand for wireline services
