Market Size of North America Wireline Logging Services Industry
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2020 - 2022 |
| CAGR | > 4.10 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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North America Wireline Logging Services Market Analysis
The wireline logging services market is expected to witness a CAGR of more than 4.1% during the forecast period, 2022-2027. The North American wireline logging services market is one of the worst-hit industries during the COVID-19 pandemic. The oil and gas drilling activities witnessed delays due to imposed lockdown restrictions in major countries like the United States, Canada, and Mexico. The wireline logging services market is largely driven by the growth in exploration and production activities in the oil and gas industry and increasing investments in offshore petroleum production activities in the United States and Canada. However, the global energy transition towards renewables, particularly solar and wind, has the vibe to hit the oil and gas upstream sector and also reduce the demand for oilfield services.
- Open-hole logging is likely to grow at a faster rate across the region during the forecast period due to its higher accuracy and reliability.
- The technological advancements in the field of well logging, such as the implementation of acoustic Logs and caliper Logs, pose a great opportunity for the growth of the wireline logging services market.
- The United States is expected to be the fastest-growing market across the region due to the upcoming upstream projects.
