London, 16 October 2014: TechNavio, the independent tech-focused global research firm, has published a report on the Global Wireline Services Market 2014-2018, which is expected to grow at a CAGR of 10.5 percent during the forecast period of 2013-2018.
The growth of this market is attributed to increased demand for oil and gas, resulting in an increase in exploration and production to explore new areas of unconventional resources. Oil and gas companies require wireline services during the entire lifecycle of the oil and gas exploration process, which includes drilling, exploration, completion, intervention, and stimulation. A rise in drilling and exploration activities has led to an increase in the use of wireline services.
“The discovery of shale gas fields has drastically increased the demand for wireline services,” says Faisal Ghaus, Vice President of TechNavio.
“There is a direct correlation between the new fields discovered and the requirement for wireline services. These services are used to recover both oil and natural gas; therefore, when new discoveries are made, the demand for wireline services increases.”
Key Market Drivers
- Depleting Onshore Reserves
- New Oil and Gas Field Discoveries
- Increase in Demand for Oil and Gas
- New Technologies and Increase in Exploration Activities for Shale Gas
Key Market Trends
- Increased Investment by Market Vendors
- Energy Security
- Increase in Government Support
Key Market Vendors
- Baker Hughes Inc.
- Casedhole Solutions, Inc.
- Expro International Group Holdings Ltd.
- Halliburton Company
- Schlumberger Ltd.
To define the market circumstances in the next 3-4 years, TechNavio analysts have conducted in-depth analysis of the impact of market drivers, challenges and trends featuring data on product segmentations, vendor shares, growth rate by revenue and an evaluation of the different buying criteria in the order of importance.
https://www.technavio.com/%3Cp%3EIf%20you%20are%20interested%20in%20more%…
