Wireline Services Market is anticipated to hit $9.89 billion by 2023 at a CAGR of 7.50% - PowerPoint PPT Presentation

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Wireline Services Market is anticipated to hit $9.89 billion by 2023 at a CAGR of 7.50%


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. – PowerPoint PPT presentation

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Title: Wireline Services Market is anticipated to hit $9.89 billion by 2023 at a CAGR of 7.50%

Wireline Services Market 2018 - 2023
  • Wireline Services Market is anticipated to hit
    9.89 billion by 2023 at a CAGR of 7.50.

Americas held the largest market share in the
Wireline Services Market
  • The American region holds the largest market
    share and growth in the Wireline Services Market
    and is anticipated to reach 4.9 billion by 2023
    at a CAGR of 6.31. However, Europe witnesses the
    highest growth during the forecast period and is
    expected to reach 1.6 billion by 2023 at a CAGR
    of 9.54. American wireline service market is
    mainly driven by the huge demand for oil and gas
    in recent years. Recent discovery of shale
    oilfields in this region has paved the way to
    meet the increase in demand which would result in
    the escalating use of wireline tools for well
    intervention and to evaluate data from the oil
    wells. The key applications include wireline
    logging, wireline intervention, wireline
    completion, recovery and others.
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Selected Value Chain Analysis done in the full
  • Electric Wireline Services are an integral part
    of the oilfield services market and has
    applications ranging from drilling to production.
  • The key application for wireline services mainly
    lie in the exploration and production phase along
    with providing extensive support during
    post-productive life of oil wells.
  • Generally, the exploration equipment and service
    providers are significant stakeholders in the
    wireline services market. Apart from this, the
    raw material suppliers and testing
    certification service providers also play an
    important role in the optimal deliverance of such
  • Over the years, the market for wireline services
    reached its peak as the demand for shale reserves
    proliferated the global oil gas industry.

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Excerpts on Market Growth Factors
  • Growth strategies followed by Companies like
    Schlumberger include improved project management,
    aligning enabling technologies, and engaging
    concurrent teams early in the process.
  • The factors driving the Wireline Services Market
    growth include spectrum utilization, reduced
    cost, new technology development, energy
    efficiency and so on.
  • Overall business consolidation with business sale
    or mergers to reduce debt and improve cost
    efficiencies across countries have also been
    impacting the future growth of wireline services
  • Increasing discoveries of the reserves in
    alternative resources as well as growing
    requisites to sustain and lift the recovery rates
    from these hydrocarbon resources will fuel the
    market for wireline during the forecast period.
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Key players of Wireline Services Market
  • The major wireline service companies that are
    listed are Schlumberger Ltd., Halliburton, Baker
    Hughes, Weatherford International PLC and
    Superior Energy Services. Among these,
    Schlumberger stood in first position in terms of
    generating highest overall revenue followed by
    Halliburton, which was followed by Baker Hughes.
  • Key players of wireline services market have been
    investing in the research and development. One of
    the major players- Schlumberger Ltd. (U.S.)
    spends nearly 3 of its annual revenue on RD.
    Other participants in the market have also been
    witnessing strong sales for wireline services.

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About IndustryARC
  • IndustryARC is a research and consulting firm
    that publishes more than 500 reports annually in
    various industries, such as Agriculture,
    Automotive, Automation Instrumentation,
    Chemicals and Materials, Energy and Power,
    Electronics, Food Beverages, Information
    Technology, Life sciences Healthcare.
  • IndustryARC primarily focuses on Cutting Edge
    Technologies and Newer Applications of the
    Market. Our Custom Research Services are designed
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