Market Size of Open Hole Logging Services Industry
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | > 2.00 % |
| Fastest Growing Market | South America |
| Largest Market | North America |
| Market Concentration | High |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Openhole Logging Services Market Analysis
The global open hole logging services market is expected to grow at a CAGR of over 2% over the period of 2020-2025. The increasing drilling and completion activities, globally, has been driving the demand for the open hole logging services over the study period. However, the volatile oil prices over the recent period, owing to the supply-demand gap, geopolitics and several other factors has been restraining the growth in the demand for open hole logging services.
- The E-line open hole logging services is expected to have the maximum share in the market, in 2018, owing to its higher accuracy and reliability.
- North America is estimated to have the maximum share of the open hole logging services market, in 2018. Additionally, the growth rate of the South America region is expected to be the highest during the forecast period, primarily due to the rapidly increasing oil and gas activities in the region, over the forecast period.
- The increasing oil and gas discoveries coupled with the liberalization in the industry globally, has been leading to creation of new opportunities for the players to invest in. The new emerging markets are several developing nations of Middle East and Africa, Asia-Pacific and South America.
