The global wireline logging service market was valued at over USD 16 billion in 2014, according to a new study by Grand View Research, Inc. This can be attributed to the potential increase in recoverable resources and increased production & exploration. Increase in crude oil prices is estimated to result in rise in investments for exploration & production activities leading to significant new projects across the globe, which is expected to positively impact industry growth.
Technological advancements have broadened service offerings by oil & gas field service providers and improved industry efficiency. Several new technologies such as drill ships and Floating, Production, Storage, and Offloading (FPSO) vessels have enabled wells to be drilled in increasingly deep water. Additionally, the new reservoir conditions including high temperature, ultra-deep water, and high pressure require advanced logging tools and services. The aforementioned factors are projected to drive the industry demand over the next seven years.
Rise in the number of horizontal wells, demand for real-time logging, and well integrity concerns are estimated to offer significant opportunities for industry growth. However, increased seismic activities and stringent government regulations can hamper wireline logging service market.
Full Research Report On Global Wireline Logging Service Market By Grand View Research:
www.grandviewresearch.com/industry-analysis/wireline-logging-service-market
Further key findings from the report suggest:
Browse More Reports Of This Category By Grand View Research:
www.grandviewresearch.com/industry/oil-and-gas-drilling-and-extraction-equipments
Grand View Research has segmented the wireline logging service market on the basis of technology, hole type, and region:
Wireline Logging Service Technology Outlook (Revenue, USD Million, 2012 - 2022)
Wireline Logging Service Hole Type Outlook (Revenue, USD Million, 2012 - 2022)
Wireline Logging Service Regional Outlook (Revenue, USD Million, 2012 - 2022)
Access Press Release Of This Research Report By Grand View Research:
www.grandviewresearch.com/press-release/global-wireline-logging-service-market
About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.
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