Wireline Services Market worth $31.18 Billion by 2019, According to A New Study on ASDReports

Wednesday 28 May 2014, Amsterdam

The report “Wireline Services Market by Type (Logging, Well Intervention, Completion), & Geography (Asia-Pacific, Europe, Middle East, Africa, North America, South America) - Global Trends & Forecast to 2019” defines and segments the wireline services market with an analysis and forecastof the global revenue

The wireline services market is likely to grow reasonably in the upcoming years. The long-term drivers of the wireline services market are well known. The relentless depletion of onshore and shallow water fields has compelled oil companies to focus on deep water and unconventional onshore areas where various wireline services are required in order to produce hydrocarbons.

The major drivers for the wireline services market are increase in theproduction rate,new additionsto recoverable reserves, energy strategy shift toward gas, and energy security by domestic supply. Environmental strict rules and regulations and public outcry are seen as major restraints to the wireline services market.North America holds a major market share in the global wireline services market. Research and development initiatives by the American Government and favorable regulatory conditions have helped the American market grow to this level of being the market leader in wireline services.

The market has been estimated from the demand point of view. This report breaks the market into smaller service segments. In order to provide a deeper understanding of the competitive landscape, the report profiles 10 companies in the wireline services market.

The global wireline services market will grow from an estimated $18.75 billion in 2014. This value is expected to increase to $31.18billion by 2019 at a CAGR of 10.7% during the same period. North America is expected to lead the global wireline services market with a share of nearly 45% in terms of value generation in 2014.