Wireline Services Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)

The Market Report Covers Global Wireline Services Companies and is Segmented by Type (Electric Line and Slick Line), Service Type (Completion, Intervention, and Logging), Hole Type (Open Hole and Cased Hole), Location of Deployment (Onshore and Offshore), and Geography (North America, Europe, Asia-Pacific, South America, and Middle-East and Africa)

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Wireline Services Market Size

Wireline Services Market Summary
Study Period 2020 - 2029
Base Year For Estimation 2023
CAGR < 3.00 %
Fastest Growing Market South America
Largest Market North America
Market Concentration Low

Major Players

Wireline Services Market Major Players

*Disclaimer: Major Players sorted in no particular order
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Wireline Services Market Analysis

The wireline services market is expected to grow at a CAGR of less than 3% during the forecast period. The global upstream oil and gas investments stood at approximately USD 476 billion in 2018, representing a 6% increase compared to that in the previous year. According to the estimates of Oil & Gas UK, the oil and gas exploration and production companies in Europe are expected to spend about USD 265 billion between 2019 - 2035. Factors, such as increasing demand for oil and natural gas and increasing investments in the upstream oil and gas sectors across the world, are expected to drive the number of exploration and production activities, thereby driving the wireline services market during the forecast period. However, the crude oil prices have been highly volatile in 2018, fluctuating between USD 85 per barrel and USD 50 per barrel by the end of the year. This volatility of oil prices remains a growing concern for the upstream industry. Hence, this is expected to hinder the market during the forecast period.

  • The increasing exploration activities in the offshore region is expected to boost the demand for wireline services market during the forecast period.
  • The shift of the projects from onshore to offshore, shallow waters to deep waters and ultra-deep waters is an opportunity for the wireline service providers to innovate and come up with products suitable and customized to the harsh climatic conditions of offshore basins.
  • North America is expected to dominate the market during the forecast period with majority of the demand coming from the United States, Canada, and Mexico.

Wireline Services Market Trends

This section covers the major market trends shaping the Wireline Services Market according to our research experts:

Offshore Region to Dominate the Market

  • As oil and gas demand is increasing, there is a need to find and produce from new oil and gas reservoirs. Existing hydrocarbon reservoirs have started to mature or have reached their decommissioning stage. This has resulted in the finding of new resources. Therefore, new oil & gas wells are being drilled in countries that have not been major producers for hydrocarbons in the past.
  • Also, as offshore oil & gas reservoirs are larger than onshore reservoirs, and the production life of offshore wells is higher than that of onshore wells, companies are shifting towards offshore E&P activities.
  • In October 2018, Baker Hughes, McDermott International, Inc., and L&T Hydrocarbon Engineering (LTHE) were awarded the subsea contract for India's Oil & Natural Gas Corporation's (ONGC) largest deepwater project, the development of block DWN-98/2 in the Krishna Godavari basin of India. The project brings together oilfield filed services from BHGE, McDermott, and LTHE to provide ONGC with end-to-end project delivery.
  • Also, in September 2018, the Ministry of Petroleum and Mineral Resources of Egypt has signed two new oil and gas exploration agreements to explore two deepwater areas at the Mediterranean Sea and Western Sahara with Canadian, British, Dutch, Malaysian and Kuwaiti companies, for a minimum investment of more than USD 1 billion.
  • Hence, with the increasing deepwater and shallow water drilling activities and new supportive government policies for offshore oil & gas exploration, the wireline services market is expected to dominate the market studied in the coming years.
Wireline Services Market, Share (%), by Location of Deployment, 2019

North America to Dominate the Market

  • North America is expected to be the largest market for the wireline services. This is mainly due to the large number of offshore oil and gas platforms, severe sea conditions, and strict safety regulations promoting drilling and completion services.
  • In 2018, the United States has witnessed three significant oil discoveries, including two in the Gulf of Mexico, at Ballymore (545 Mb) at a depth of 2,000 m underwater, and at Appomattox (140 Mb) under 2,300 m of water. Besides this, the United States has also had an onshore discovery in Alaska in the Putu/Stony field (200 Mb). In Alaska, Smith Bay, a shallow oil field located 150 miles to the west of Prudhoe Bay in the North Slope, is spread over 117 acres and estimated to hold 6-10 billion barrels of crude oil that include 1.8 to 2.4 billion barrels of recoverable reserves. The new discoveries of oil and gas fields demand exploration of the field to reach the production stage; these new discoveries are expected to drive the country's wireline services market.
  • Further, owing to the stabilization of energy prices and profitability from drilling activities, the Petroleum Services Association of Canada (PSAC) announced that as of 2018, they have 152 active oil wells and expected to increase as for the newly discovered field. The demand for wireline services in the country is expected to be high during the forecast period, riding on increased upstream activities.
  • Hence, the development of new fields and growing activities of drilling and exploration is expected to drive the market for North America. Therefore, the demand for wireline services is expected to be on the positive for the North America during the forecast period.
Wireline Services Market - Growth Rate by Region, 2020-2025

Wireline Services Industry Overview

The wireline services market is moderately fragmented. Some of key players in this market include Schlumberger Limited, Baker Hughes Company, Weatherford International PLC, Halliburton Company, and Expro International Group PLC.

Wireline Services Market Leaders

  1. Schlumberger Limited

  2. Baker Hughes Company

  3. Weatherford International PLC

  4. Halliburton Company

  5. Expro International Group PLC

*Disclaimer: Major Players sorted in no particular order

Wireline Services Market Concentration
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Wireline Services Market Report - Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Scope of the Study

    2. 1.2 Market Definition

    3. 1.3 Study Assumptions

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET OVERVIEW

    1. 4.1 Introduction

    2. 4.2 Market Size and Demand Forecast in USD billion, till 2025

    3. 4.3 Historic and Forecast of Onshore CAPEX in USD billion, by Regions, 2016-2025

    4. 4.4 Historic and Forecast of Offshore CAPEX in USD billion, by Regions, 2016-2025

    5. 4.5 Recent Trends and Developments

    6. 4.6 Government Policies and Regulations

    7. 4.7 Market Dynamics

      1. 4.7.1 Drivers

      2. 4.7.2 Restraints

    8. 4.8 Supply Chain Analysis

    9. 4.9 Porter's Five Forces Analysis

      1. 4.9.1 Bargaining Power of Suppliers

      2. 4.9.2 Bargaining Power of Consumers

      3. 4.9.3 Threat of New Entrants

      4. 4.9.4 Threat of Substitutes Products and Services

      5. 4.9.5 Intensity of Competitive Rivalry

  5. 5. MARKET SEGMENTATION

    1. 5.1 Type

      1. 5.1.1 Electric Line

      2. 5.1.2 Slick Line

    2. 5.2 Service Type

      1. 5.2.1 Completion

      2. 5.2.2 Intervention

      3. 5.2.3 Logging

    3. 5.3 Hole Type

      1. 5.3.1 Open Hole

      2. 5.3.2 Cased Hole

    4. 5.4 Location of Deployment

      1. 5.4.1 Onshore

      2. 5.4.2 Offshore

    5. 5.5 Geography

      1. 5.5.1 North America

      2. 5.5.2 Europe

      3. 5.5.3 Asia-Pacific

      4. 5.5.4 South America

      5. 5.5.5 Middle-East and Africa

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements

    2. 6.2 Strategies Adopted by Leading Players

    3. 6.3 Company Profiles

      1. 6.3.1 Baker Hughes Company

      2. 6.3.2 Halliburton Company

      3. 6.3.3 Superior Energy Services

      4. 6.3.4 Schlumberger Limited

      5. 6.3.5 SGS S.A.

      6. 6.3.6 Weatherford International PLC

      7. 6.3.7 Expro Group

      8. 6.3.8 Archer Ltd

      9. 6.3.9 C&J Energy Services Inc.

      10. 6.3.10 Pioneer Energy Services Corp.

    4. *List Not Exhaustive

  7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

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Wireline Services Industry Segmentation

The wireline services market report include:

Type
Electric Line
Slick Line
Service Type
Completion
Intervention
Logging
Hole Type
Open Hole
Cased Hole
Location of Deployment
Onshore
Offshore
Geography
North America
Europe
Asia-Pacific
South America
Middle-East and Africa
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Wireline Services Market Research FAQs

The Wireline Services Market is projected to register a CAGR of less than 3% during the forecast period (2024-2029)

Schlumberger Limited , Baker Hughes Company, Weatherford International PLC , Halliburton Company and Expro International Group PLC are the major companies operating in the Wireline Services Market.

South America is estimated to grow at the highest CAGR over the forecast period (2024-2029).

In 2024, the North America accounts for the largest market share in Wireline Services Market.

The report covers the Wireline Services Market historical market size for years: 2020, 2021, 2022 and 2023. The report also forecasts the Wireline Services Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.

Wireline Services Industry Report

Statistics for the 2024 Wireline Services market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Wireline Services analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.

Wireline Services Market Report Snapshots

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Wireline Services Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)