PUNE, India, November 3, 2016 /PRNewswire/ --
The report "Wireline Services Market by Application (Onshore & Offshore), Type (Electricline & Slickline), Services (Completion, Intervention, & Logging), Hole Type (Cased Hole & Open Hole), and Region - Global Forecasts to 2021" published by MarketsandMarkets, the market is expected to grow from an estimated USD 8.26 Billion in 2016 to USD 9.15 Billion by 2021, at a CAGR of 2.1%.
Browse 60 market data Tables and 51 Figures spread through 154 Pages and in-depth TOC on "Wireline Services Market"
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The global market is set to witness growth, due to the aging reservoirs, increasing oil production, and lifting of Iranian oil export sanctions. Also, oil export sanctions on Iran were lifted in January 2016, allowing the country to export oil. This has led to an increase in E&P investments in the country, leading to a rise in oil production.
The onshore segment is expected to hold the largest share of the wireline service market, by application, during the forecast period
The onshore segment led the Wireline Services Market in 2015, owing to the increasing demand for wireline services across the globe. This segment is primarily driven by high number of maturing fields in onshore regions. Moreover, the ease of mobility is high in onshore regions which allows for multiple usages of wireline services, and is expected to create new revenue pockets for the Wireline Services Market during the forecast period.
Cased-Hole to be the largest segment in the Wireline Services Market
With regard to the hole type segment, cased-hole is expected to be the largest market in 2016. When a portion of a well has a metal casing placed and cemented to protect from pressures, fluids etc., it is called as cased-hole and these cased-hole services increases wellbore stability. The cased-hole applications further includes electricline and slickline. The electricline is estimated to be the largest sub-segment within the cased-hole wireline services due to advantages such as real time data collection, versatility, and accuracy.
North America: The leading market for wireline services
In this report, the Wireline Services Market has been analyzed with respect to six regions, namely, North America, Asia-Pacific, Europe, the Middle East, Africa, and South America. North America is expected to dominate the global Wireline Services Market, given the increasing shale gas production in U.S. and the offshore production in the U.S. Gulf of Mexico.
To enable an in-depth understanding of the competitive landscape, the report includes profiles of some of the top players in the Wireline Services Market. These players include Schlumberger Limited (U.S.), Halliburton Company (U.S.), Baker Hughes Incorporated (U.S.), Weatherford International PLC (Switzerland), and Superior Energy Services (U.S.). Leading players are trying to penetrate the markets in developing economies, and are adopting various strategies to increase their market share.
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