Global Wireline Services Market Report 2022

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Key players in the wireline services market are Baker Hughes Company, Weatherford International plc, Schlumberger Limited, Archer Ltd, Halliburton Company, Pioneer Energy Services Corp., Superior Energy Services Inc.

New York, Sept. 14, 2022 (GLOBE NEWSWIRE) — Reportlinker.com announces the release of the “Wireline Services Global Market Report 2022” – https://www.reportlinker.com/p06319524/?utm_source=GNW
National Oilwell Varco, Expro Group, Weir Oil and Gas, Siemens, Weltec, FMC technologies, Emerson, Schneider Electric and Petrofac.

The global wireline market is expected to grow from $8.90 billion in 2021 to $9.71 billion in 2022 at a compound annual growth rate (CAGR) of 9.1%. The wireline market is expected to reach $12.09 billion in 2026 at a CAGR of 5.6%.

The wireline services market includes sales of wireline services by entities (organizations, individual traders, and partnerships) that are used to lower equipment or measuring devices into a well for the purpose of well intervention and assessment of tank. These are useful for collecting well data in logging activities, as well as in workover jobs that require data transmission.

The major types of wireless coating markets are power line and smooth line. A power line refers to a continuous line or drawn curve that is used or intended for the distribution of electrical power in a residential development or commercial complex.

The different types of services include intervention, logging and completion, and involve several types of holes such as open hole and cased hole. Different deployment locations include onshore and offshore.

North America was the largest market in the wireline service market in 2021. Regions covered in the wireline service market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East and Africa.

The Wireline Services Market research report is one of a series of new reports that provides wireline services market statistics, including the global wireline services industry market size, regional shares, Competitors Holding Wireline Services Market Share, Detailed Wireline Services Market Segments, Market Trends and Opportunities. , and any other data you may need to thrive in the wireline business. This Wireline Services Market research report provides a comprehensive perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

Rising deep and shallow water drilling activities are expected to propel the growth of the wireline market in the future. Values ​​collected from wireline logging provide essential data for evaluating formations in oil and gas drilling.

Oil and gas companies are investing in new offshore drilling activities for deep and shallow water wells, which will increase the demand for wireline services. For example, in November 2020, according to a report by Schlumberger, a U.S.-based oilfield service company, more than 50,000 shifts and 4,409 wire runs were covered by service engineers for drilling and drilling activities. measuring from March to August.

Additionally, as of June 2020, in the Middle East, these services are used to compete for approximately 80% of drilling and measurement and wireline operations. Hence, increasing deep and shallow water drilling activities are driving the growth of the wireline market.

Strategic collaborations have become a key trend gaining popularity in the wireline market. The major players operating in the wireline industry are focusing on entering into long-term collaborations to strengthen their position in the market.

For example, in September 2021, LYTT, an American provider of sensor-enabled real-time software and analytics, collaborated with energy technology company Baker Hughes to accelerate the digital transformation of the oil and gas sector by applying networks distributed sensors. down the wellbore, producing actionable insights that optimize oil and gas field production. Additionally, in March 2021, Expro, a UK-based company operating in wireline services, collaborated with FTAI Ocean, a Singaporean ship-based well intervention provider.

Through this partnership, both companies will expand their capabilities and resources and provide a fully integrated set of interventions to the wireline industry.

In July 2021, Ranger Energy Services Inc, an American provider of high-specification mobile wellbore services, casedhole wireline services and ancillary services, acquired PerfX for US$2.25 million. The acquisition aims to strengthen the business by increasing the scale and scope of Mallard’s existing wireline business by including a full range of production services as well as adding geographic diversity to deliver even more value to the market. PerfX is a US-based wireline company that offers a variety of solutions including pump punching and pressure control equipment.

The countries covered in the Wireline Services market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, United Kingdom and the United States.
Read the full report: https://www.reportlinker.com/p06319524/?utm_source=GNW

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