Market Size of Logging While Drilling (LWD) Industry
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| CAGR | > 2.00 % |
| Fastest Growing Market | South America |
| Largest Market | North America |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Logging While Drilling Market Analysis
The global logging while drilling (LWD) market is expected to grow at a CAGR of over 2% over the period of 2020-2025. The increasing drilling and completion activities, globally, is one of the major factors driving the demand for logging while drilling (LWD) 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 logging while drilling (LWD).
- The onshore segment is expected to have the maximum share in the market, in 2019. Onshore drilling encompasses all the drilling sites located on dry land and accounts for 70% of worldwide oil production.
- North America is estimated to hold the maximum share in the logging while drilling (LWD) services market, in 2019. 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.
