Wireline Services Market - Forecast(2023 - 2028)

The Global Wireline Services market recorded annual revenue of $6.34 billion in 2017 and is estimated to grow at a CAGR of 7.5% during the forecast period 2018-2023. Increasing oil production and aging reservoirs are the major drivers for the rapid growth of the wireline services market. Electric line is the dominating segment by the type of wireline services recording an annual revenue of $4.40 billion and is estimated to grow at a CAGR of 7.05% during the forecast period. Recovery segment is the fastest growing application for wireline services market owing to implementation on both onshore and offshore sectors. Wireline logging is the dominating application in 2017 by collecting annual revenue of $2.84 billion and is projected to grow steadily at a CAGR of 8.51% during the forecast period. 

Wireline services usually refer to cabling technology used in oil and gas industry for well intervention, reservoir monitoring operations, logging, pipe recovery and completion. These services require less labor and consumes less time providing petro physical data that are further beneficial for controlling the process parameters. The tools inserted into the well for both wirelines and slicklines, workover and logging efforts, are very similar devices. A slickline is a thin cable introduced into a well to deliver and retrieve tools downhole, while a wireline is an electrical cable used to lower tools into and transmit data about the conditions of the wellbore called wireline logs. Usually consisting of braided cables, wirelines are used to perform wireline logging as well. 

The applications of wireline services include Wireline Intervention, Wireline Logging, Wireline Completion, Recovery and many more. Wireline intervention is an operation carried out on an oil or gas well during, or at the end of its productive life that alters the state of the well and well geometry, provides well diagnostics and manages the production of the well.

The companies referred to in the market research report includes Archer Limited, Baker Hughes Inc., Basic Energy Services, China Oilfield Services Limited, Schlumberger Ltd., Superior Energy Service Inc., FMC Technologies Inc. and more than 25 companies.

The report incorporates in-depth assessment of the competitive landscape, product market sizing, product benchmarking, market trends, product developments, financial analysis, strategic analysis and so on to gauge the impact forces and potential opportunities of the market. Apart from this the report also includes a study of major developments in the market such as product launches, agreements, acquisitions, collaborations, mergers and so on to comprehend the prevailing market dynamics at present and its impact during the forecast period 2018-2023.

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