Wireline Logging Services Market worth $25.46 Billion by 2019, According to a New Study on ASDReports

Thursday 9 October 2014, Amsterdam

The report, now available on ASDReports, "Wireline Logging Services Market by Hole Type (Cased Hole, Open Hole), by Wireline Type (Electricline, Slickline) & Geography (Asia-Pacific, Europe, Middle East, Africa, North America, South America) - Global Trends & Forecast to 2019", defines and segments the wireline logging services market with an analysis and forecast of the global revenue.

The global wireline logging services market will grow from an estimated $15.58 billion in 2014 to $25.46 billion in 2019 at a CAGR of 10.3% between 2014 and 2019. North America is expected to lead the global wireline logging services market with a share of about 45% in terms of value in 2014.

The wireline logging services market is likely to grow reasonably in the upcoming years. The long-term drivers of the wireline logging 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, which pose High Temperature High Pressure (HPHT) conditions where wireline logging plays a crucial role in order to produce hydrocarbons.

The key drivers for the wireline logging services market are global demand for oil & gas , new additions to recoverable reserves, growing exploration and drilling activities, and technological developments in wireline logging. Stringent environmental rules and regulations, and public outcry are seen as major restraints to the wireline logging services market. North America holds a major market share in the global wireline logging 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 logging 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 logging services market.